Jon Creasy, a crypto enthusiast and investment adviser, says more hidden bitcoin will soon be forthcoming. More importantly, he hopes his fellow gaming enthusiasts follow his example and offer crypocurrency rewards. He thinks gamers could bring about mass adoption of cryptocurrency.
Creasy could be on to something, considering gaming has been one of the most proactive industries to adopt cryptocurrency.
More pro-crypto gaming enthusiasts need to get on board, however. When Twitter users were asked what use case will take cryptocurrency to more than 10 million daily users, gaming and collectibles came in third behind remittances and P2P payment and gambling and the prediction market. (There are currently less than 1 million active cryptocurrency users today, discounting speculative holders, noted cryptocurency hedge fund manager Ari Paul.)
There’s currently probably less than 1 million daily active users of cryptocurrency (if we exclude pure speculation and passive hodling.) Which use case will first take us over 10 million active daily users?
— Ari Paul (@AriDavidPaul) August 1, 2018
Creasy, who is quick to point to the adventurous nature of gamers, has established a subreddit for those who want to communicate with other bitcoin bounty hunters. He hopes to encourage gamers and crypto enthusiasts to follow his example. He points out that the gaming industry could become built on cryptocurrency.
Gaming Embraces Cryptocurrency
Meanwhile, gaming companies continue to use cryptocurrency in various ways.
In 2016, Steam, a gaming and digital distribution platform, began accepting bitcoin payments enabled by BitPay. The payment processor noted at the time that bitcoin will help Steam reach gamers worldwide minus the high fees chargeback risks associated with card payments. Unfortunately, Steam disabled cryptocurrency payments last year, citing the very high fees they had hoped this technology would prevent.
GMO Internet, a Japanese Internet services provider that offers cryptocurrency trading, recently announced it has developed “CryptoChips” to allow cryptocurrency distribution as remuneration within games. CryptoChips will allow players to receive cryptocurrency based on players’ rankings within the game, when they acquire items or achieve missions.