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ARTICLE · 28 APRIL 2022

Crypto Gaming: Raising The Stakes For Video Game Publishers And Developers

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"Crypto gaming" is the trend of videogames using cryptocurrency as a major component of gameplay and/or in-game economies. This can range from (i) allowing users to purchase in-game items with Bitcoin...

CanadaTechnology
Irina Costei
Irina Costei
Michael Shortt
Michael Shortt
Karam Bayrakal
Karam Bayrakal
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"Crypto gaming" is the trend of videogames using cryptocurrency as a major component of gameplay and/or in-game economies. This can range from (i) allowing users to purchase in-game items with Bitcoin, Ether or other cryptocurrencies (in addition to fiat currencies), (ii) allowing users to earn a game-specific cryptocurrency through gameplay, and (iii) all the way up to allowing users to withdraw the cryptocurrency they earned in-game for use elsewhere. While "play to earn" gameplay and mechanics have been around for a long time, the emergence of crypto-based mechanics is relatively new for the gaming industry.

Despite its novelty, the popularity of crypto gaming has been rising exponentially, but that rapid growth is not without risk. Some specific risks in crypto-gaming were recently brought to light when hackers stole approximately $600 million from a "bridge" connected to the popular Axie Infinity game.1 The attack occurred on March 23, 2022, but was not

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