cryptocurrency game development

Best Practices to Monetize your Crypto-based Games

Since its inception, the gaming industry has been growing at a fast pace. Currently, this sphere flaunts nearly 2.6 billion gamers worldwide, and the number is increasing. Gamers are constantly looking for innovative and cutting-edge games to have more fun and improve their gaming experience.

In recent years, we have witnessed these tech-savvy people readily adopting crypto-based games for various good reasons. It comes with no surprise that we have numerous cryptocurrency games making big among gamers and crypto-enthusiasts. But what has driven the gamer community towards cryptocurrency game development?

The reason blockchain and cryptocurrency games experienced massive adoption is their ability to solve transaction and fraud-related problems. In addition to this, players enjoy numerous perks, like ownership, streamlined payments, decentralization, safe and secure trading, and compatibility with cross-games. 

Thanks to crypto-based games, players can buy, sell, and trade cryptocurrencies in the form of virtual in-game currencies. In the gaming ecosystem, players earn game tokens or assets that they exchange outside.

 Isn’t it interesting to make tradeable assets while having fun playing crypto games?

If you are considering an investment in game DApp development, it is essential to know that just developing a cryptocurrency game is not enough. You have to encourage online users to use your crypto-game and trade cryptocurrency. Thus, monetization of your cryptocurrency game is vital. Below, we will look at some of the most dominant monetization strategies that crypto developers use. And depending on your needs and preferences, you can choose the most suitable option.

  • In-app advertising

Used for mobile apps, In-app Advertising is one of the most successful monetization strategies.  What makes this practice unique from others is that it comes in various formats in digital games. And using Rewarded Ads is the most common one. In this, if you want to earn a crypto reward, you are required to complete a particular task. Let us have a look at some examples of in-app advertising.

  • Rewarded videos – When it comes to the format of Rewarded videos, gamers need to watch a specific ad to earn some cryptos. Well, this monetization practice is famous for monetizing mobile apps. Crypto Idle Miner is an example of a Rewarded video ad. In this, a player must watch a video ad to earn an airdrop reward worth 40.6b WeGold. 

On the other hand, Crypto Ballz is an arcade game. The best thing about this crypto game is gamers can earn different types of virtual cryptocurrencies with the simple task of building a massive chunk of money.

  • Rewarded surveys – Rewarded surveys include a format of Rewarded ads. As the name suggests, players have to complete one or more surveys to earn cryptos. Pollfish, an interactive monetization platform, rewards users for giving their valuable and engaging opinion.

Free Litecoin is a simulation game. In this, gamers can access free Litecoin. To further increase their revenue, players have to participate in specific tasks like completing a survey.

  • In-app purchases

Many games on App Store and Google Play, and other PC games use this monetization format. With in-app purchases, users can buy assets directly in the game, such as custom characters, coins, extra lives, and so on. In simple words, gamers can purchase items in exchange for cryptos, or they can buy cryptos.

For example, Knights for EOSIO is the first crypto-based game that operates on the EOS platform. This game is based on smart contracts, which means they monitor every action by the user. The player has to boost the power of a Knight by trading items using EOS cryptocurrency.

Other examples include Bitcoin Tycoon and Crypto Trillionaire.

  • Affiliate and referral marketing

Another widely used monetization practice by the crypto developer is Affiliate and Referral marketing. Well, both free and paid mobile apps can use this monetization model. While this monetization model is still in its infancy, it can benefit both mobile users and app developers. Usually, it comes in the format of affiliate banners or links, which are clickable. If users have to carry out a desirable action, they have to click these affiliate banners or links.

For example, Crypto Treasures is an adventure game. It involves players chasing cryptos while learning more about blockchain and crypto. To use this game, the existing users will first invite a friend using an invitation link. Once the registration is successful, each can earn 200 gold.

The bottom line

The monetization models are constantly changing and involving. With several monetization practices for crypto games, it is essential to choose the best model that meets your business needs and demands. In short, if you want to encourage more and more online users to play your blockchain game, you need to practice monetization.

If you are looking for a reliable company that offers cryptocurrency game development services, get in touch with Steem Experts. We house a team of experts with years of experience in the field.

Related: How Does Cryptocurrency Impact the Gaming Industry?