The Gaming industry proved time and time again that it is among the most innovative and progressive industries. More people are playing video and online games and while the age gap still exists, it’s not as drastic as 10 years ago. Today, families from different generations can all enjoy an online game together. Cryptocurrencies and digital assets are also finding more room in everyday life of the younger generations. A recent example is Fortnite and V-Bucks.
According to many shopping websites and companies, people are gifting more V-Bucks and cryptocurrencies than the usual cash or gift cards. V-Bucks is the virtual currency used for cosmetic and in-game purchases in one of the most popular games in the world – Fortnite. This new preference among gamers and young adults is wonderful. Not simply because families and friends have found new ways to spend time together, but because it signals a very large shift in people’s mindset.
Fortnite Digital Currency – V-Bucks
The adoption of new and developing digital currency technologies means that not only are cryptocurrencies viewed as a medium of exchange in specific ecosystems, they are also not viewed as a speculative investment. With the current state of the market, that’s wonderful news. If people’s interest and usage of digital assets keeps growing, the volume of crypto assets will itself keep increasing. The V-Bucks payment system is also proof how digital currencies can make it into a fiat-dominated area.
Fortnite has managed to gross more than $300 million on the IOS platform alone since it launched back in March. Fortnite has also managed to introduce a whole new generation of users to a modern paradigm. Users are able to purchase and trade in a vast digital ecosystem by using a medium of exchange which has minimal ties to fiat. At the moment 1000 V-bucks can be purchased for $9.99. In-game, players can pay for upgrades or cosmetics to characters of their choosing, but all refunds are strictly in the form of V-bucks.
This motivates people to further engage in the game’s financial ecosystem. While worldwide teenagers and young adults are beginning to adopt digital technologies and cryptocurrencies, everybody’s favorite “baby boomers” (Americans born before 1964), are openly against any form of digital currencies and rapid innovation.
Last month, the American Association of Retired Persons (AARP) published an article on the official website describing bitcoin as a “pile of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money.” Boomers have about $24 000 in savings and receive a huge amount of benefits. Millenials on the other hand, have less than 10 times that and share none of the benefits of baby boomers.
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