The gaming sector saw the fastest growth in the crypto industry compared to all others, and Grand Theft Auto (GTA) is taking it a notch higher. A leak from the popular action-adventure game suggests that the latest release in the series, GTA 6, could introduce a crypto reward system featuring the largest digital asset Bitcoin. Rockstar Games has not released an official statement yet concerning the addition of crypto assets in the game. 

According to the leaks, Bitcoin, Ethereum, and USDT are the crypto assets likely to have support in the game. This development raises the issue of the sudden growth of Play-to-Earn games in Web3. Do they face limitations? And how big can this sector grow? Let’s unveil the possibilities and challenges for Web3 gaming.

1. GTA 6 and Bitcoin

GTA 6 will be more advanced than its predecessor, GTA 5, which came out in 2013. In the latter, players could enter stock markets by accessing LCN and BAWSAQ exchanges on their smartphones. Players could trade shares in the exchanges in-game, earning money in different kinds of missions. The addition of crypto may catapult the game to new levels. 

When Bitcoin first came out, it was illegal and only useful in the shadows, mostly by criminals or people who wished to remain anonymous. However, the digital asset has gained legitimacy with some governments regulating it. Now, there is no better asset to use in GTA than Bitcoin, as it accentuates the feel of the game by bringing to life true anonymity. GTA’s missions entail assassinations of drug lords and clashes between gangs and kingpins. What better way to move money around anonymously than using Bitcoin? The only game-changer is that the Bitcoin players earn in-game are real BTC. 

This news breaks against the backdrop of Bitcoin breaking below a crucial support level. There is a double top pattern on the weekly chart and the price just broke below the $60,000 neckline. Only 3 days and 16 hours remain till the close of the BTC weekly candle. The Bitcoin price prediction shows a weekly candle close below the neckline may spell further downside for Bitcoin, while on the flip side, if bulls manage to push the price higher, BTC may rally back to $72,000.

While the news remains largely a rumor, crypto-gaming enthusiasts are already speculating on a GTA native token.

GTA 6 rumored to pay players with Crypto for Completing Missions

While the rumor is yet to be confirmed by any official sources, I personally believe it to be true@RockstarGames has already spent 2 Billion to develop this game so it would make sense to have some sort of… pic.twitter.com/a5sQURnaj1

— FFV (@FFVV1211) July 3, 2024

The adoption of Bitcoin may have a positive impact on the gaming industry’s revenue model. The recent acceleration of artificial intelligence in blockchain signals how the traditional world is fast intersecting with the digital world. With it, tradFi liquidity will flow into Bitcoin and other cryptocurrencies. GTA 6 and other traditional games can set themselves up for success by integrating Bitcoin as early as now, before the wave hits.

2. GTA 6 and Ethereum

It is no secret that blockchain technology is safer and faster than traditional financial technology. Although exploits happen on-chain, they are limited to system loopholes that can be prevented through regular contract audits.

Chad Steingraber, a professional game designer in the video game industry since 1995, said on X (formerly Twitter) that “all major game studios have been working on blockchain tech integration since at least 2016.”

I’ve been in the corporate video game industry since 1995. All the major studios have been working on blockchain tech integration since at least 2016.

Yet no major releases still.

This is how slow it works.

I’m telling you right, GTA 6 changes everything. #crypto https://t.co/tTodJIb5Zt

— Chad Steingraber (@ChadSteingraber) October 15, 2023

Steingraber is convinced that GTA 6 will change everything when it comes to traditional games incorporating cryptos.

ETH is among the crypto assets that will be in the GTA 6 game. Ethereum has played an important role in the growth of play-to-earn web3 games, especially in the NFT niche. For instance, in the latest GTA 6 trailer (released seven months ago), keen GTA Online players noted a ‘silver layered necklace’ worn by a bikini-clad character by a rooftop pool in the teaser. 

It’s been found that the necklace worn by the white bikini girl from Trailer 1 has been added to GTA Online in the latest update. pic.twitter.com/HHnL55I1i1

— Grand Theft Lore (@GrandTheftLore) July 2, 2024

 

This item can easily be tokenized to become an NFT and sold for real ETH outside the game. This is just an example of the many in-game items that can become NFTs with real-world value.

Meanwhile, the Ethereum price broke to the downside of a falling wedge. This is rare, but when it happens, aggressive selling pressure follows. ETH price just entered a potential consolidation zone, but confirmation is due when the price action reaches the lower boundary of the range. This will constitute a 9% drop from the current price.

NFTs are not the only possibility for Web3 games. Smart contracts also change the game entirely, not to mention AI game agents running on blockchains. Smart contracts may come in handy during automated payouts, automated in-game NFT purchases, and much more. 

However, with these developments comes the risk of hacks and exploits. Recently, an exploit on Bittensor (TAO) resulted in the loss of $8 million worth of TAO tokens. Even though only a few validators were affected, the loss was great and caused the TAO token price to drop by 16% over 24 hours. Reports suggest GTA 6 has already cost Rockstar over $2 billion in costs. An attack on such a game may have catastrophic consequences.

Conclusion

The idea of earning BTC while playing GTA 6 reveals the potential for Web3 gaming to revolutionize player engagement and rewards. Additionally, this concept shows how mainstream gaming and crypto can co-mingle, and offer gamers a new dimension of value for their time and skills.

The post Play GTA 6, Earn Bitcoin? Unmasking Possibilities, Challenges for Web3 Gaming appeared first on CoinGape.

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Filed under: News - @ July 4, 2024 2:21 pm