Cryptocurrencies have become one of the hottest discussion topics on the internet, and the speed of their spread and usage is expected to affect all aspects of our online interaction, especially our entertainment. With crypto being used in more places than ever before, it has especially impacted the online entertainment sector. This article looks at the manner in which crypto has become entwined with the entertainment industry.
Crypto is global
The fact is that anyone with access to the internet and with the fiat currency available can buy and use crypto. Then, using this crypto for any online media and entertainment that accepts it anywhere in the world is one of the main reasons that the entertainment industry has arguably seen crypto as a means to expand and grow their audiences around the globe. Just as the US dollar was once viewed as the global currency, crypto now provides a similar solution and yet without the controls and fees that were associated with central banks and international money transfers.
Crypto and blockchain is open source
One of the biggest routes into entertainment for crypto has been the fact that anyone with the know-how and the means can make their own crypto, and, as such, there have been gaming and entertainment cryptos that have been made. These can only be used in specific games and on specific entertainment sites, but their use is spreading all the time based on the level of security and safety provided by the blockchain underpinning crypto.
The peer-to-peer transaction method of crypto
The fact that cryptos provide a peer-to-peer means of transacting allows for gamers and providers of online entertainment to be able to interact directly with the source of entertainment. Individuals have been able to monetize their online provision in a secure and safe manner with the use of cryptocurrencies for payments and transactions. It keeps the transaction private and yet securely recorded.
Online casinos and betting are a great example
There has been a dramatic rise in the use of cryptocurrencies at the online casinos that have begun to dominate the online entertainment arena. Nowadays, whenever you want to play online blackjack, Canada or European rules, you should be able to pay in the format and currency that you want to. Crypto provides for the speed of transaction, anonymity, lower transaction fees, and global access that many online casino layers are looking for. It is also clear that the rise of NFTs will add to this crypto in casinos as online casinos look to produce chips and tokens that are specific to their own casinos and can easily be exchanged for real money.
Online entertainment has gone global, and it is thus expected that the next big development is going to be the provision of a means for all to access and pay for such globalized entertainment. Crypto is arguably begging to provide this solution, and in a way that will see entertainment and crypto forever entwined.
