The reality of gaming without Bitcoin in Venezuela

Gamification has reached unprecedented levels in recent years. Already Newzoo in his last report on the sector points out amazing numbers of growth that are desirable not only for traditional industries, but also for those who bet on the sector for the massification of emerging technologies such as Blockchain.

The Global Games Market is expected to continue its sustained growth trajectory, with average spending of USD 196 billion by 2022, an annual average of nine percentage points between 2018 and 2022, according to the annual growth outlook report for this sector.

In this context of growth, which it is not unreasonable to assume has been accelerated by the current pandemic situation that forced the confinement of millions of people, it is not surprising that the formula of crypto currencies with games has joined some of the most popular platforms among gaming enthusiasts in general.

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In Venezuela, the gaming community is diverse and has a wide audience that has now been forced to compete online not only for fun, but also for survival.

For countries like Latin America, where the ingredients of hyperinflation and limited access to foreign currency accounts is a must, it is not surprising that some magic formulas are being generated between crypto-currencies and popular platforms like Roblox or RuneScape in order to access to unlock the funds earned by users within the gaming world.

Several of these most popular gaming applications are now becoming a more lucrative source of income for gamers in the Latin American country than a regular job, where the basic monthly salary is only about USD 5 per month.

This reality is now causing many to devote themselves entirely to this activity and abandon their eight-hour jobs, in order to obtain the necessary income to live day-to-day in such an economically complicated country.

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The only requirement is to have an Internet connection and a computer to invest the average time needed to achieve a couple of dollars a day, enough for any average Venezuelan compared to the basic integral salary set by the national government.

Although it is not an activity to become a millionaire, the money earned in digital currencies -own to each platform-, is undoubtedly an incentive to generate a kind of national „stampede“ where you can see in different homes groups of people sharing their skills to generate virtual income that can be perfectly exchanged to some real world currencies.

Where to play
There are many online gaming platforms to be able to make passive income or, as we have previously indicated, to do so as the main source of income for professional or amateur gamers.

Some of them are centralized like Roblox or RuneScape, which have great roots in Venezuela, to the point of becoming the primary source of income for many families for their profitability with respect to the basic salary in the country in an ordinary working day.

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Others are decentralized such as those offered by Blockchain technology, in chains such as Ethereum, Tron, Matic and Enjin to name a few.

Gaming for a hyperinflationary country like Venezuela can be so lucrative that it forces many large and public communities throughout the country, allowing them to organize themselves into ‚virtual clans‘ in order to share experiences, tips, strategies, all with the sole purpose of being able to generate the minimum weekly income that allows them to meet their most basic needs.

Despite the experience of many gamers in the country and the high crypto culture, there is a large percentage of this sector that still does not know how to avoid secondary markets to exchange their rewards, and make the exchange for crypto currencies, establishing a natural bridge with the local currency without depending on intermediaries.

In the case of centralized platforms such as Roblox or RuneScape, it is possible to exchange their earnings for Bitcoin Billionaire, indirectly, but with the advantage that they can have control of their funds with the cryptomone currency to change them later to conventional money or even use it as a direct payment bridge, without dates or time limits.