Wouldn’t it be nice to earn money from playing your favorite video games on Xbox? Although, at the moment, Xbox achievements have been a worthy reward for players’ grit and hours invested in games. But sadly, the best these achievements can offer a player is an ego boost, as they don’t translate into any tangible profit.
Thankfully, with the advent of cryptocurrencies, players can now expect the possibility of profiting from their game achievements. Your in-game earnings and points can now be converted into spendable crypto tokens within minutes. That sounds interesting to you, right? Then keep reading as we share more exciting details about crypto rewards and how they can completely transform your gaming experience on Xbox.
What are Crypto Rewards?
In simple terms, crypto rewards are incentives and compensations offered to users in the form of digital currencies. These rewards can take the form of well-known cryptocurrencies like Bitcoins or Ethereum, or tokens unique to a particular game or platform.
Generally, the concept of assigning real-world value to in-game assets or points is referred to as crypto gaming. And so far, it has been integrated into many traditional games. With crypto rewards being its most common form of adoption.
Introducing crypto rewards into Xbox achievements will enable players to earn cryptocurrency tokens each time they unlock an achievement, turning their gaming sessions into new income opportunities. And the good news is the best crypto wallet can be seamlessly linked to gaming platforms like Xbox to help players or gamblers in particular store their digital assets and make exchanges smoothly. In addition, this wallet comes with robust security features to prevent unauthorized access to the crypto coins stored on it.
How Would This Work in Practice?
1. Game Specific Tokens
Developers may decide to add a game-specific token to their title. For instance, they could come with a token named ‘RaceCoins’ in their racing games.
And for every victory in the various driving challenges and circuits, you get rewarded with cryptocurrencies that could be used as a direct exchange for in-game items like special skins or future game options.
2. Trading and Collecting
Players earning crypto for the games they play will be encouraged to buy or sell the tokens. As soon as this feature is added to Xbox, players with premium rewards could trade their tokens for huge profits, while others could simply exchange them outright to level up or unlock new levels.
This can serve as a new way for friends to help each other achieve their game objectives by just swapping rewards.
3. Financial Opportunities per Achievement
As said earlier, with crypto rewards integrated into Xbox games you get more than just a simple addition of scores. Instead, you will be presented with a set amount of cryptocurrency. For instance, after the completion of The Elder Scrolls: you could win 1 ETH. This premise is scalable to games of different difficulty ratings or the overall popularity of the title.
4. Tiers and Bonuses
If this model takes off, game development teams would probably create a tiered system around the earning of these rewards. For example, for base score achievements you win tokens whose exchange values are so minimal that you wouldn’t consider selling them.
While for hitting top milestones, like completing a game to 100% you earn significant tokens. This hierarchy of incentives would be necessary to make players push forward to more achievements.
What are Xbox’s Achievements Currently Like?
Currently, Xbox achievements are limited to game points. These points are added to your gamer’s profile after reaching certain milestones or completing specific challenges during your gameplay. These achievements on your profile are a cool way to show off your gaming prowess to friends and other gamers. It brings a certain level of joy and accomplishment, but after a while, it becomes obsolete because of its virtual nature. Let’s face it, we humans are not really satisfied with just virtual rewards for our efforts and time invested in the games.
So, what if after you’ve spent countless hours perfecting how to jump-kick a dragon in your latest adventure game, you aren’t just greeted with a silly pop-up window and the subsequent addition of a few digits to your normal score? But you’re also receiving a financial reward you can actually make use of in real life. That is precisely where the idea of crypto rewards IN Xbox comes in.
The Benefits Of Crypto Rewards In Xbox
1. Heightened Engagement
Players would engage very differently, had they known that their efforts were rewarded with some real currency. The link between crypto and an understanding of investment exudes an instinctive emotional connection for the player to the game. Gamers will more likely pursue achievements, lengthening playtime and collaborative community efforts.
2. Financial Gains
The gaming space can sometimes hurl a significant financial burden on players, from buying a game to acquiring downloadable content and even making numerous in-game purchases, it hardly ever stops. In fact, it was recently reported on Motley that Americans spent a total of $57.2 billion on video games in just 2023 alone.
Thankfully, crypto rewards can help you ease this financial burden and also serve as a way of wealth creation in the long run.
3. Increased Level of Competition
Adding rеаl-life stakes to the achievement could spark a new level of competition among players. Friendship groups may decide to organize competitions to judge their skills. Their judgment is not based on who scores more gamer points but on the amount of crypto gained through skill, time investment, or creativity in the game.
4. Limited Editions and Events
Game developers will most likely attach crypto rewards to in-game events where certain tokens can be earned only after finishing a challenge within a specified time. Proving your worth by completing these limited-time achievements will provide greater rewards, and even make seasonal events or game releases more meaningful to the community.
Challenges Ahead
As enticing as crypto rewards may be, the reality is full of various challenges that developers and platforms would have to contend with:
1. Regulatory Concerns
It is worth mentioning that cryptocurrency hasn’t gained full acceptance globally and each country has different regulatory frameworks for it. So, game developers and platforms have to deal with these regulations to avoid entering into legal tussles.
2. Market Volatility
Just as you know, the cryptocurrency market has extreme price swings. A crypto gain today can turn into a loss tomorrow following a negative market movement. Therefore, developers would need to figure out how to buffer the rewards so that players feel secure in their investment rather than being allowed to lose value over a short period.
3. Accessibility and Complexity
While cryptocurrency is rapidly growing in popularity, there are still a lot of hurdles to cross for a successful integration of crypto rewards in Xbox. For instance, the average player may find the process of transacting in digital currencies quite complex. Developers may want to consider simplifying the integration process and developing educational material that will ease the player into this new space.
