How gambling is transforming the crypto trading landscape
The crypto market is incredibly diverse. Over the past few years, several channels have opened up for people to earn money using cryptocurrencies. This is in stark contrast to the early days of the industry, when people only knew how to buy and sell based on market movements.
Today more and more people are getting into cryptocurrency trading – and not just the basics. Options such as margin trading and futures have taken over the market, giving traders the opportunity to make massive profits and expand their positions.
For many of those looking to get into crypto trading, things can be extremely difficult. Market volatility alone means investors will need to be careful when watching and making money. However, what if games could make a difference and present an even more open field for everyone?
Crypto games are all the rage right now. Blockchain technology is finally entering the gaming market, and companies are using different concepts in an attempt to increase their market share and expand their customer base. But, gamification has also spread to various other facets of the industry.
For years, crypto traders have searched for ways to hone their skills and be even better at the deed. Maybe gamification could be the answer.
The rewards for stocks have already been a huge success for the crypto industry. Services like and Decentraland have already mastered the art of giving things to people once they level up, and this same system could be used for commerce.
Essentially, the reward system is straightforward. Gather a group of traders and have them compete for who is the most profitable. There is a ranking and traders can match their skills with the best of the best. The winner will eventually win a prize.
Currently, several services are already operating in this space in the hope of making it more visible. One notable is the League of Traders (lot. Trade), which hosts tournaments, battles, and challenges for crypto traders. They level up as they succeed, and everyone is able to compete fairly.
League of Traders welcomes these challenges and offers an open invitation. Any trader can participate in tournaments for free, regardless of their location or choice of exchange. All you need to do is register and start trading. The winners receive various rewards, which usually come from sponsorship funds and participants’ contributions. Over time, a ranking of crypto traders will be formed, based on multiple tournaments. This will help investors determine the best traders who can effectively manage funds and provide even more opportunities within the ecosystem.
For now, the rewards are paid in tokens from the tournament sponsors, which have significant growth potential. Winners can also be rewarded in BUSD or LOTT – tokens built by the League of Traders or NFT LOT team. Players can use in-game tokens to trade, create NFTs, and receive even more rewards. Additionally, there are other ways to profit from the platform, such as wagering options up to 45% or even starting your own crypto tournament.
Game companies could also go the traditional route of sending traditional rewards. Everyone wants to feel like they’re getting something, and that will definitely inspire people to compete, especially if they know they have a decent chance of winning.
Or, they could jump on the current growing trend and incorporate things like non-fungible tokens (NFTs). Many traditional crypto games are fine-tuning their operating structure, incorporating NFTs as a reward. Thus, players who reach certain milestones get their rewards in the form of NFTs. They could sell their NFTs in secondary markets (if they can get buyers), hold them, or sell NFTs in gaming markets to a market of people who understand their value.
In the end, it all comes down to the prospect of winning something. Everyone wants to feel this urge to compete with others and win something. Traders are not left out either.
What gamification can do for businesses
Gamification can bring many benefits to the commercial space. Some of them include:
Crypto exchanges are the main entry point for anyone who uses crypto. Many of them compete for market share and are known to explore different tactics to grow.
However, gamification could be the answer these exchanges seek. By targeting these games, exchanges can advertise to the people who need their services. You have a group of traders together and you know they need what you are offering. Develop promotional material and market yourself on a trading game, and you will be able to get maximum exposure.
It also helps if the top performing traders are actually using your exchange. You have social proof that attests to your superiority and you can enjoy massive customer acquisition success just there.
Currently, the crypto market is one of the fastest growing in the world. However, few people have access to the skills and knowledge they need to maximize their income with digital assets. A crypto trading game could be the perfect opportunity for traders to connect and share their knowledge.
By looking at each other’s strategies and growing through experience, novice traders can become professionals in no time, if not no time at all.
Also, when more people can find a community of traders to learn more, there is more incentive for them to trade. The crypto market itself grows from there, and it may become the biggest in the world at some point.
Another interesting appeal point is that adoption should be fairly easy to achieve when it comes to commercial games. Crypto traders already love what they are doing and want to improve. But traders love the rewards they get even more.
By combining the ability to get these two, crypto trading games are a sure hit. Traders earn even more for doing what they love, and exchanges are a great way to market to the people who need their services.
With more and more people entering the industry as well, there is an opportunity for crypto to really step into the limelight and challenge the $ 5,000 billion per day forex market as a forex market. the largest and most liquid in the world.
Only a few things apparently benefit everyone in the crypto industry. Crypto trading games could be one of them.
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