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How Big Is the Crypto Gaming Industry?

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The use of blockchain and cryptocurrencies in the gaming industry is also quite high. If we look at the statistics, the global blockchain in the gaming industry was estimated at 4.83 billion dollars in 2022. In addition, it is expected to grow by almost 70% from 2023 to 2030. Today, we will talk about how big this technology is. If you want to learn more about this topic, keep reading.

What is Blockchain Technology

A decentralized, securely shared ledger of data is what is meant to be understood by blockchain. Participants can share a common set of data thanks to this technology. Blockchain makes it simple to gather, combine, and distribute transaction data from many cloud services. Data is chained by separating it into blocks, or distinct identities known as cryptographic hashes. By providing a single source of truth, the blockchain maintains data integrity, reducing the issue of data duplication and boosting security. A blockchain system eliminates data tampering and forgeries by requiring the consent of all stakeholders before changing any data. While shared, the blockchain ledger cannot be changed. All participants are notified if there is an attempt to alter the data, and the perpetrator can be identified. And these days many games, sports betting sites or online casinos use this technology.

Why Does Blockchain Market Grow

The demand for a decentralized, open and secure game was of course there by everyone. This has caused the market to change direction. Thanks to blockchain technology, the gaming industry can now respond to people’s needs and start working in a more transparent way. The reason for this is that blockchain technology records people’s movements in a coded way, but don’t worry, these passwords are not passwords that can be easily hacked. In this way, the gaming industry becomes more transparent and people can play games with peace of mind. Therefore, interest in this sector increases and grows.

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Everyone has seen the enormous interest in cryptocurrencies and blockchain technology over the past several years. Investments in this industry have also increased as a result of this. The cryptocurrency gaming sector has grown in direct proportion to the increase in interest and investments. It has also continued to evolve. As an illustration, in October 2022, Horizon Blockchain Games raised $40 million. They developed their games with this money, making sure their clients were satisfied.

Why Do People Choose Crypto-Based Game Platforms

Game Variety: Due to the fact that cryptocurrencies are still a relatively new technology, the  online casinos that include them will need to adapt and be willing to try new things. This implies that there will be innovative games that are fun for all ages. Since it will be challenging for everyone to get together in one location, cryptocurrency casinos appeal to a wide range of consumers by fusing modern technologies with traditional tastes. This indicates that there are a good number of games available at crypto casinos because of advancements in the industry. In addition, gamers have the option to earn more cryptocurrency by playing games with a cryptocurrency theme. Given that technology is always evolving, we anticipate that game selection will also be updated on a regular basis.

Anonimity: Transactions at cryptocurrency casinos are faster and more secure than at traditional casinos that have opened up to date. It is impossible to trace a cryptocurrency deposit made at a casino because of the previously mentioned blockchain technology. The players feel more at ease as a result of this procedure. Blockchain technology protects financial and personal data. It takes longer and is less safe to use a credit or debit card on betting sites because the banks are a third party involved.

Transparency: Because they use blockchain technology, cryptocurrency casinos are perceived as more trustworthy than other types of online casinos. This lowers the possibility of fraud to zero because all transactions and gaming activities are recorded. However, don’t let this logging process scare you; the data is encrypted so that nobody can access or view it. In addition, players can wager in a fair atmosphere thanks to the contracts and regulations created using blockchain technology, which benefits both the players and the casino.

Faster Transactions: We have already mentioned that transactions with cryptocurrencies are made faster than other transactions. This is one of the biggest factors why people prefer betting sites that trade in cryptocurrencies. Because no one wants to wait to bet or want to see the money they earn in a short time. As people’s demands increase, the crypto gaming sector continues to grow.

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Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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