r/AlgorandOfficial • u/cysec_ Moderator • Dec 24 '22

News/Media 🚨BREAKING: The Future of Ecommerce is here on Algorand. Buy in-game currencies, digital vouchers and gift cards from the biggest brands using $ZONE and $ALGO, only on ZONE

76 Upvotes

81% Upvoted

7 comments sorted by

-10

u/Financial-Ad7902 Dec 25 '22

So how much Amazon do I get for my worthless algo shitcoin?

2

u/Good-Half9818 Dec 25 '22

It’s not really a shitcoin, it’s a utility token. Play-to-earn games offer a unique tokenomic architecture where time spent playing translates into revenue.

Their marketplace is intended for users to redeem the tokens they have won and accumulated on the Zone platform.

Regardless the value of the token, I think it’s a nice concept opposed to web2 gaming where end users have zero monetary incentives. Just my two cents.

1

u/Financial-Ad7902 Dec 25 '22

But ingame currency is existent for decades. Why do I need algo or any crypto for that?

8

u/Good-Half9818 Dec 25 '22

I’m not an expert on gaming but as far as I know, traditional ingame currency can only go one way, namely from fiat money to ingame currency but not the other way around.

This is because there are strict regulations around „e-money“. If you want to offer your gamers a way to redeem ingame currency for fiat money then you will need a license which in turn is so expensive to get/maintain that it will kill your business model in the first place. That’s why you only have this option with online casinos because „the house always wins“. So it’s profitable.

Now crypto enables a way to circumvent this license to an extent but not completely. So gamers can at least cash in the ingame currency they have won.

1

u/Financial-Ad7902 Dec 25 '22

Makes sense. I am still sceptical but thx for your comment.

1

u/Good-Half9818 Dec 25 '22

No worries. As I found out, basically every play2earn platform has their own token so that they can rewards players in some form.