NFTs Games: Real Money Vs Digital Money in Virtual World Games - News Geek

NFTs games: real money vs digital money in virtual world games

Advantages and Disadvantages of using real x digital money in games.

Read too:

When it comes to money-making games in the crypto industry, it is most likely P2E or Play to Earn games, which are most often platforms that come with digital currencies for trading. Some places create value through trading NFTs, others create value through popularity and fame.

However Differences between real money and digital money This is quite clear. Whether due to usage, benefits or exchange rates. They have different advantages and disadvantages. Especially cryptocurrencies play an important role in virtual world games.

Differences between real money and crypto

In basic understanding Many people think that money is real. is money that can actually be tangible Both banknotes or type of currency

But as society's technology has made great leaps and bounds, it makes the current use of money less touching. both from epidemics that occurred before and the convenience of not having to carry money everywhere to reduce crime. It means that appearance is no longer a determinant of type. Therefore, the differences can be broken down as follows.

Use

Real money has a wider range of uses than digital money or cryptocurrencies. As cash will be the currency that people in that country will use, such as the baht, dollar or yen, these currencies will be in abundant demand. It depends on the economy of that country and you can still buy everything covered. And you can also buy crypto.

Cryptocurrencies, on the other hand, have quite limited use due to the fact that there are tens of thousands of coins. And it is still the BTC or Bitcoin currency that dominates the majority of the market.

For smaller currencies, especially those used on P2E gaming platforms, most of them are only available in-game. This is usually done to purchase various in-game equipment such as avatars, clothes, weapons, and real estate. Also known as NFT.

The value of an NFT depends on the popularity of the game. The higher the value, the more it can be exchanged for real money.

Volatility

Although Trust in the digital industry In recent years, this has grown significantly. But cash remains the main place to trade on exchanges. Most are exchanges between currencies.

But the crypto industry itself is growing a lot. Recently in America, more than two thousand traders accept cryptocurrency trading. which almost doubled

Another thing that differentiates real money from crypto in the virtual gaming world is its volatility. The volatility of real money largely depends on the global economy and national economy, while crypto fluctuates more according to trends, news, and virality.

legal

Not all countries support crypto as legal tender in the country. This is different from real money that is produced and licensed by governments, which use the value of gold in the country as a reference to avoid potential inflation.

While a cryptocurrency is a project or platform created by a group of developers. This makes it impossible to guarantee that all coins will be legal.

However, money itself is not always within the scope of the law. If you are one of those who like to play casino games. Earn real money Earnings may be subject to full investigation. Including search online casino reliable This guarantees that you will receive your winnings when you win bets.

Advantages and Disadvantages of real money

Here are the pros and cons of real money that we have compiled.

Benefits

  • Legal
  • Can be used all over the world by simply changing
  • Stable due to controlled production
  • You can buy and sell almost all types of products.

disadvantages

  • It is not desirable for the currency to come from a bankrupt country.
  • The value of the currency depends on the country's economy.

Advantages and Disadvantages of Cryptography

Here are the pros and cons of encryption that we have compiled.

benefits

  • It's safe.
  • Make transactions quickly
  • Fees are lower than with real money.
  • There is more privacy.

disadvantages

  • Trading can only be done on the platform or in-game.
  • Highly volatile
  • Not yet legal in some countries

Conclusion

Real money and digital money in match Crypto is also available for trading. However, the methods of using the two are quite different. No matter what real money still has an advantage in transactions.

And not only that Real money can also buy digital money, while digital money can be bought with real money. You should look at the value to make sure it won't be at a loss compared to when you purchased it.

However, you can increase the value of in-game currencies by investing in NFTs, which are a type of digital asset. And it's also very special that only one person can own it. This means that the more valuable the asset is, the value will increase.

Student of Information Systems, a lover of games, anime and technology in general. In addition to being a writer for News Geek, I also write for other sites, which belong to Grupo SED.

Related articles

eFootball Mobile: How to Earn Free Gold Coins

If you are a fan of the popular mobile game eFootball and are looking for ways to acquire free gold coins, you have come to the right place! Gold coins are the currency...

You will continue on our website

The ever-closer relationship between AI and video games

For some time now, artificial intelligence (AI) has become a topic that has been living in the spotlight, thanks to the recent great advances in the fields of natural language processing, machine learning and computer vision, a good example being the

You will continue on our website

How to get Diamonds in Farlight 84

Farlight 84 is the newest Battle Royale promise that promises to displace Free Fire! The game is still in early access but it is already attracting players' attention, if you ...

You will continue on our website