By using the foundations of traditional digital gaming platforms, cryptocurrency gaming companies can harness the appeal of classic titles while putting their own spin on them and finding niche ways to attract a fresh audience.
#1 – The growing interconnectivity of iGaming and crypto
Online casino gaming and sports betting are fascinating topics. Although the industry didn’t explode into the mainstream in the same way online casino websites did in the early 2000s, or enjoy the enduring popularity of mobile app gaming, it has been a slow burner, but always moving in a positive direction.
Despite the immense success of the casino industry, the interconnectivity of the digital gambling community has meant that the scope for innovation has thinned in recent years. Only so many roulette games or variants exist before the supply simply outweighs the demand. For the traditional sector, this demand is continuing to grow, most notably because provinces and states in Canada and the US are opening up to the idea of legislated, legal gambling.
However, this doesn’t detract from the point at hand – there’s only a finite number of casino games and good ideas, so for the industry to keep up its impressive growth, the unquenchable quest for constant innovation looks elsewhere, which is where cryptocurrency casinos and blockchain gambling games come into focus.
Using crypto to place a bet works the same as on a traditional platform: you connect your wallet, sign the transaction and deposit your digital assets. You can even play with Litecoin if you’re looking for ways to use altcoins to play casino games.
However, because collaborations have been forged right across the spectrum of cryptocurrency, from CEX and DEXs linking up with crypto casinos to some of the biggest celebrities advertising crypto gambling, it’s one of the most prominent factors currently breathing fresh life into the crypto gaming space.
#2 – NPC Labs’ further expansion into GameFi
Many companies in the GameFi space face the challenge of getting lost among the noise when trying to market their innovations in crypto gaming, particularly on social media. Swimming through a swamp of spam, memecoins and “next coin to 10,000x” tweets can be exhausting.
This leads to a lack of audience, and while the innovation and technology might be cutting-edge, if it can’t be marketed effectively, it won’t attract investment or find customers who will use it.
However, for companies like NPC Labs, who can tap into the immense consumer power of Coinbase – given their founders are ex-employees – this immediately puts them ahead of many other companies struggling to find an audience in the space.
Unleashing the power of Web3 in the gaming space has multibillion-dollar potential – nobody in the crypto community or space would argue that. The whole ethos of NPC Labs is to break down the barriers and make it much simpler for customers to access crypto gaming in a far more straightforward fashion.
Their recent $21 million funding round to expedite GameFi on Coinbase’s growing L2 Base is another exciting sign for the crypto gaming community. It should increase opportunities for smaller gaming startups looking to build on Base.
#3 – The Solana narrative
You only have to look at previous bull runs to see that it is often not the best tech or ideas that get the most column space. In 2021, one of the most tweeted-about cryptocurrencies was Dogecoin, an entirely worthless asset with no utility. Trading activity surpassed a number of other altcoins, some of which demonstrate incredible utility, use case and ingenuity.
Solana’s trading and investment activity throughout 2024 has made it one of the cycle’s success stories thus far. SOL isn’t explicitly a gaming token, and in truth, the choice of games on the network is rather thin. Still, the narrative and the incredible volume on the network alone help give the crypto gaming space a boost.
It’s often the narratives that can drive the action, and although there’s no landmark crypto gaming title that uses or implements Solana, the fact is that it’s causing a vast social media stir, with people exploring it for gaming capability.
#4 – Rockstar rumors – Grand Theft Auto crypto
The news that Grand Theft Auto VI will be released in 2025 grabbed headlines worldwide. It is one of only a few games that can transcend the industry and break into pop culture. Now, the idea that this instalment, the first GTA game in 12 years, could have a facility where people can use crypto would be a mammoth landmark moment in the history of cryptocurrency gaming and GameFi.
At the moment, much like with everything else related to GTA 6, Rockstar is remaining tight-lipped. But it is a rumor that has garnered a lot of attention online, and the mere possibility on its own is helping to ignite the crypto space.
If Rockstar confirmed any sort of crypto or blockchain functionality for what is arguably the most anticipated game of all time, crypto gaming would enter a new realm of appeal and visibility, and it would inevitably open the doors for institutional investors to come to the table
#5 – Galaxy ventures eight-figure fund
Galaxy Asset Management has been a longstanding champion in the world of crypto innovation. They have an undying belief that Web3 and DeFi are the future of the financial world, and the $113 million recently raised by their Fund 1 is another massive boost for startups looking to launch their crypto gaming ideas into this space.
Now, this fund is broader – it’s not restricted to crypto gaming. Therefore, startups in digital asset gaming will be facing off against other pioneers in the crypto and blockchain space to get their hands on some of this lucrative investment, but these sorts of funding rounds inject colossal anticipation and excitement into the space.
#6 – Adidas entering the equation
In April 2024, Adidas confirmed they had been working with Axios as part of Crypto: The Game. Now, you’d think one of the world’s most iconic sports fashion brands stepping into the crypto gaming space would’ve captured more attention.
It appears as though, at least for now, that they’re testing the waters, but their presence alone helps to add further legitimacy to Web3 and crypto gaming as a whole. If Adidas continues to take a vested interest, it could easily lead to other titans in the fashion world exploring what crypto gaming offers.
Final thoughts
It’s an exciting time to be in the crypto gaming industry. With cryptocurrency casinos still in their formative years and the enormous potential the industry is showing, if it can link up with some of the most revered names in the gaming world, the future appears to be bright.
As with all things crypto, it’s crucial to keep your ear to the ground and pay attention to what is happening. Narratives and attitudes can change quickly, but given that crypto gaming is one of the best use cases for people to build the bridge between their digital assets and how to put them into practical use, it could be one of the narratives that help to push Bitcoin and the rest of the cryptocurrency market to all-time highs.
