BitBlox Focuses on Creating Blockchain Casino Games
Published May 26, 2023 by Shane
Bitblox announces its plan to launch crypto games on the HXRO Network and add value to the already billion-dollar industry through blockchain gaming. Gaming enthusiasts and crypto investors should watch this space.
Technology is growing and evolving daily. Employees work from home instead of at the office due to technological advancements, AI can order groceries and create artwork, and a robot can be a household's financial manager.
With the ever-evolving world that we live in, iGaming is growing at a speed we can't keep up with. Gambling was great; now, we can do it from the comfort of one's own homes. Sending cheques and doing money transfers was amazing; now, we can send money - in different forms- whether fiat or crypto, to another person's e-wallet in seconds.
Cryptocurrencies are slowly integrating into the everyday world. We can now pay with crypto or send cryptocurrency instead of cash for payments. Gaming developers are also integrating crypto into the iGaming world and creating crypto games. This is not a game you pay with cryptocurrency; it is a game played in the metaverse where you are paid in virtual coins when winning.
Bitblox Plans To Launch Crypto Games
Bitblox is a leading gaming studio in the United Kingdom registered in Malta. The studio got the attention of all iGaming enthusiasts when announcing the launch of crypto games and their plan to bring them to regulated markets. Many are intrigued to see where these games will fit in, as the $67.9 billion industry already has a lot to offer.
The excitement around their announcement reaches so much further than just the iGaming industry; crypto traders and investors - whether they are gamers or not - will watch this space along with the rest of the iGaming industry. Bitblox’s news of building crypto games on the HXRO network means that they have granted exclusivity to HXRO to power their games. This could see the LHXRO token increase in value exponentially.
What The Pros Have To Say
The HXRO network, powered by Solana, is a blockchain platform with its own cryptocurrency and crypto token and acts as a platform where users can trade and stake their virtual money.
HXRO co-founder Dan Gunsberg said:
"On-chain gaming is a surprisingly underserved subset of the multibillion-dollar global igaming market. Bitblox will bring the online gambling industry into the Web3 era, supporting HXRO Network's goal to be the world's largest on-chain source of derivatives and igaming liquidity."
Providing online crypto games on the HXRO network will create a blockchain ecosystem that can grow into one of the biggest platforms within the gambling industry. Brandt Page, the CEO of Bitblox, says:
"Bitblox dramatically expands the scope of what igaming can be. Blockchain-based gaming provides additional transparency to igaming operators while allowing players to bet in new and engaging ways."
By partnering with leading names in the industry, such as the HXRO network, Bitblox is betting on growth and safe gameplay for all users.
The Crypto Gambling Sector We Know and Love
There is no doubt that online gaming is growing at a fast pace, as the global iGaming industry is worth $93 billion, of which crypto gambling generates $250 million. Cryptocurrencies are still fairly new in the industry, and more gambling platforms are introducing crypto as payment.
The next level of crypto integration into the gambling industry is via crypto games. P2E, Play to Earn, is a term linked with crypto games reaching more households by the day. This system rewards players with cryptocurrencies, tokens, or NFTs based on several factors, including time spent on the platform, games played and won, or achievements unlocked.
Unlike gambling, where players can win online coins and then transfer them to fiat on cryptocurrencies for withdrawals, crypto gambling is much more intricate, with many differences from earning potential, buying and selling virtual property, and trading on the same platform.
Gambling Information You Need To Know
Crypto gambling is fast growing and offers players a range of benefits that will not compare to any other gaming platform. If we must, compared with a traditional online casino, when players have registered a new account, they need to do some form of verification, like a KYC, before withdrawing funds. Players can stay completely anonymous on the latter as their crypto wallets and personal information need not feature.
Crypto gambling has a security feature that requires only the player's crypto address to make withdrawals, and due to the transaction being cashless and completely virtual, all platforms are coded with high-end technology to keep the platform safe and secure.
After comparing some of the most important aspects of online gaming and transactions, namely security and privacy, another convenience is the fast transactions and low fees involved. Due to payments operating on the same virtual platform and the crypto platforms being designed the way they were, payments and withdrawals are instant.
A few examples of crypto games include Axie Infinity, a non-fungible token-based online video game known for its in-game economy, which uses Ethereum-based cryptocurrencies. Another great game is ZedRun, where players can racehorses and buy them as NFTs. There are many crypto games, whether built on a quick buy-and-sell mechanic like crash games or a game like Townstar, where a player earns and rents out NFTs for an ongoing income.
Online players who have doubts need to go back to basics and remember the provably fair algorithm used across the crypto and iGaming industry. Players can receive a key string as a scannable code and check if the code gives the same results as the game played. This adds another level of security and fairness to the crypto-gambling world and adds to its superiority over other platforms.
The Ultimate Collaboration
As the world reaches further into places we could only dream of a few years ago, we can expect more collaborations that excite us and bring different groups closer together. The collaboration of cryptocurrencies and iGaming will deliver the virtual world we have created to a player's fingertips. We will never again invest, save, or entertain in the same way.
