Bitcoin in Digital Entertainment: What Are the First Steps?Jul 5, 2021, 12:49PM
More and more industries are embracing cryptocurrencies for their security and convenience. Blockchain has plenty of potential applications.
With innovation still spreading and institutional adoption on the rise, we can expect rapid integration of Bitcoin and other cryptocurrencies into the entertainment segment. Even today, these instruments are being used in quite a few ways.
Bitcoin fans rejoice at the sheer number of opportunities they now have. For instance, online casinos were quick to adopt the coin. More and more platforms in Europe and Asia accept BTC (in Japanese it sounds ビットコイン カジノ), so gamblers enjoy enhanced security and anonymity of payments. Discover more thrilling applications so far.
1. Video Gaming
Over the past 20 years, PC and console gaming has come a long way. Modern games are real masterpieces with immersive graphics and realistic sound effects. Even slots have been enriched with storytelling features. This is more than a simple pastime. Now, you can pay for games with BTC!
The cryptocurrency is officially accepted in the Microsoft store for Xbox and the PlayStation network. Similar opportunities are accessible to PC gamers. They can buy licenses with crypto coins and launch their favorite games at the click of a mouse.
2. Bitcoin Trading
Not everyone is ready to accept trading as a form of entertainment, but there is still some fun in it. Thanks to modern platforms, this activity is quite simple, which can make it feel like a hobby. Users have a wide array of analytical tools, and they make decisions in a rapidly changing market. Trading robots and other AI tools allow users to reap higher profits.
The abundance of information also contributes to the appeal. The internet is brimming with articles, videos, podcasts, and other content devoted to bitcoin. It is easy to stay updated about the latest trends. Trading software allows experimenting with different strategies. On the one hand, you can excitingly pass your time. On the other hand, you can earn some real money in the process. Persistence will translate into more Bitcoin in the long run!
3. Online Gambling (iGaming)
Humans have been placing bets for ages. Gambling is still wildly popular, and its popularity has surged once again due to the pandemic. Millions of people around the globe visit digital casinos to play games like blackjack and roulette or explore hundreds of slots with exciting themes and narratives. The jackpots can be jaw-dropping, and welcome bonuses are tempting.
To stay competitive in this saturated market, casinos need to come up with novel ways to attract the audience. Aside from generous welcome rewards, they add Bitcoin payments to their offerings. Many players jump at this option for the security and anonymity it brings. As they do not share their bank accounts with the websites, payments are secure.
4. Sports Betting
This second dimension of gambling has also seen a rise in Bitcoin adoption. Sports fans can place bets on a wide variety of events using their crypto wallets. This is a big hit on the internet. Signup bonuses boost the appeal. This industry has seen immense growth worldwide since the beginning of 2021.
A Look Ahead
The advantages of blockchain technology have been recognized by high-profile investors, so further adoption is expected. Other forms of entertainment can also benefit from BTC. For example, Bitcoin can ensure fair content distribution. New artists and developers do not need big labels to make their voices heard — YouTube, Instagram, and other social media platforms have solved this problem. However, earning is still problematic because of the middleman.
The industry lacks transparency. Bitcoin can eliminate the intermediary. Secondly, micropayments will become easier, as consumers will pay for songs and movies with digital coins. Thirdly, contracts will not require human interaction. This is just one of the many possible dimensions of Bitcoin use.
The Bottom Line
The use of Bitcoin in digital entertainment is growing. Today, you can pay for video games, trade Bitcoin online, play in digital casinos and bet on sports events. These are the most prominent applications of virtual currency, and more segments are expected to support it in the future. Bitcoin is poised to revolutionize the film and music industry.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.