In 2021, cryptocurrency buying firm Earnity raised more than $20 million to develop a marketplace that will allow users access to crypto and decentralized finance (DeFi) assets. executives Domenic Carosa and Dan Schatt of Earnity look to increase mass adoption rates in crypto, especially among people and places that can benefit the most from technology. However, several factors are holding back crypto adoption, such as lack of understanding and inaccessibility to platforms.
Enter the gaming industry.
Gaming is seen as one of the most potent players in driving the mass adoption of crypto. More specifically, multiplayer, online video games, like Axie Infinity, Roblox, Fortnite, Minecraft, and other addictive and innovative games can bring a whole new customer base into the crypto ecosystem. These games help Because they have built-in digital economies that require gamers to use in-game currencies to make purchases. These digital currencies can be easily converted into significant cryptocurrencies like Bitcoin, Ethereum, and Litecoin, which can then be used to buy items and services in the real world.
Another reason is that the gaming market is compatible with cryptocurrency because plenty of gamers know their way around complex and new technologies. Additionally, gamers can be fond of trying out novel ideas and are open-minded toward innovative ideas in the market. Gamers also stand to benefit if real-world benefits are introduced in games using cryptocurrency. For instance, if a player were to obtain cryptocurrency rewards for their in-game achievements, such as beating a boss or collecting a rare item, they would be more incentivized to keep playing. This can considerably impact both the game developer and the crypto economy.
The potential for mass adoption is vast, considering over two billion gamers worldwide. Dan Schatt and Domenic Carosa of Earnity wish to encourage gamers into buying in crypto. If even a fraction of these gamers started using and buying in cryptocurrency, it would significantly affect the overall market.