Microtransactions in the GameFi and Cryptocurrency Space


A microtransaction, abbreviated as MTX, is a method of purchasing virtual goods. Microtransactions are very common among gamers who use small, quick payments to purchase virtual items within their video games. To purchase additional time in a gaming environment, some types of NFTs and cryptocurrencies are suitable for such microtransactions.

Microtransactions and free-to-play games

The free-to-play games offer users the opportunity to purchase virtual products with NFTs and gaming currencies. Free-to-play games are usually free to download; however, you have to pay to buy time, bonuses, or virtual products. Microtransactions are the most common.  A gaming environment is a place for players around the world to play, so they might not want to hassle exchanging fiat for the currency accepted in the gaming environment. Consequently, regular players tend to hold some types of cryptocurrencies accepted in gaming environments.

NFTs for gaming

Several games accept Bitcoin and other kinds of cryptocurrencies to purchase weapons and tools. Users who are fond of gaming tend to accumulate the kind of NFTs and crypto assets. As a positive note, gamers have the option of exchanging the weapon for either fiat or cryptocurrency at a future date.

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