Teens are being introduced to new ways of payments, I believe millennials will be more fit to understand how to use and apply crypto to their everyday lives. They will be the transition from our current financial system to cryptocurrency. Young people, in general, are more in touch with virtual everything; whether it's media, online dating, streaming or looking for less complicated ways to get everything done; cryptocurrency provides this.
Most if not all the people in power today support the traditional financial system, and this is why it will be harder to set aside the old; because it’s been in power for so long.
Recently I came across an article about a game called Fortnite, I have never played this game, but I've heard my brother talk about it several times. This game is huge, “between June 2018 and November 2018, 75 million new players registered, putting the total at more than 200 million.”
“According to Verto Watch, Fortnite is most popular among players between the ages of 18 – 24, who account for 63% of all Fortnite players. Players between the ages of 25 – 34 represent 22.5% of all players, while those between the ages of The 35 – 44 comprise just with 13% of the overall user base.”
In the game they have something called V-bucks; this is money used within the game. I initially thought this was an altcoin.
What are V-Bucks?
“Unlike the PvE mode, Fortnite: Save the World, Epic’s battle royale game is free. And, with its stonkingly high Fortnite player numbers in mind, Epic have to make money from it somehow. The answer is Fortnite V-Bucks, a virtual currency with which you can acquire a handsome collection of colorful cosmetics in exchange for real money.”
Notice that they talk about virtual currency, but this V-buck is not listed as a cryptocurrency according to Coinmarketcap. V-buck is not a cryptocurrency because this would involve all the protocols that run with crypto and at the moment it does not. V-buck does have the concept behind crypto; which is the possibility to use universal currency online for goods and services.
I do believe the game developers should make a transition into crypto or ETH Tokens where they can code anything they want on to it. Cybercriminals are also taking advantage of V-bucks and as it has been reported that credit cards have been hacked to purchase V-bucks that will later be transformed to fiat cash; this being a way of money laundering and many believe having Fortnite run on V-buck as crypto or token would prevent such a thing.
This is what Fortnite CEO had to say about crypto, “Many of us at Epic are big fans of the decentralized computer technology that underlies cryptocurrencies, however, much more work is needed on volatility and protection against fraud before taking it to such a broad audience that it includes young players." Hopefully, they will take this initiative as well as other online games.
Hope you enjoyed it, feel free to comment.
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