Monetizing Gaming: Exploring the Role of Digital Money in the Gaming Industry

The gaming industry is seeing a big shift with the rise of digital technology. With digital money, game developers are finding new ways to earn money. This also allows them to offer better gaming experiences.

The effect of digital money is not exclusive to games. Given time, digital money can change the world. It is soon expected to change the global economy and society. From cryptocurrency to mobile payment systems, digital money is creating new avenues for finance, commerce, and social interaction. 

This article will tackle how digital money will alter gaming, and what it means for players and developers.

In-game Purchases

In-game purchases are a goldmine for developers in today’s video game industry. The controversy surrounding these microtransactions is a discussion for another day. But one thing is for certain: they are here to stay.

Offering virtual goods and services in exchange for digital currency has become a reliable way to generate revenue. Developers encourage players to purchase their digital currency with real money by making the process of earning it in-game, time-consuming and difficult.

The result? They have a steady stream of revenue to fund development and maintenance. 

Aside from providing developers with a financial boost, in-game purchases also give players plenty of customization options. Cosmetic items for their avatars and worlds are often the top sellers in various games’ digital shops. 

Moreover, in-game purchases give players the opportunity to explore new content and experiences. This extends the lifespan of the game, giving long-time players more to chew on. 

The prevalence of in-game purchases is beneficial to both game developers and players. But it is not without downsides. The allure of purchases can lead to risks such as overspending and addiction. This is especially true for virtual goods that involve chance, making them akin to gambling.

It is important for developers to maintain transparency in their purchase systems. Players, on the other hand, must be aware of their spending habits to avoid falling prey to fraudulent schemes.

Virtual Goods and Currencies

In digital economies within the gaming industry, goods and currencies play vital roles, especially in virtual reality games. Unlike traditional economies, these digital economies are intricate and operate differently. Players either earn or purchase virtual currency and subsequently use it to buy virtual goods. 

These goods typically enhance gameplay or provide cosmetic upgrades, such as new gear, weapons, or outfits. They can also be traded or sold for virtual currency among players.

The operation of virtual currency in these digital economies resembles that of real currency. Players can obtain virtual currency by engaging in gameplay. Most commonly, developers allow players to purchase virtual currency using real money. 

The value of virtual currency can fluctuate based on supply and demand. It can also be exchanged for virtual goods. In some cases, virtual currency can even be converted into real currency. Consequently, it establishes a connection between the digital and real-world economies.

The use of virtual goods and currencies within gaming has spawned a new ecosystem. It is attracting the attention of entities outside of the gaming industry. Companies have explored ways to incorporate virtual currency into non-gaming settings, such as social networks and e-commerce. 

With the potential of digital money extending beyond gaming, many experts speculate that it will soon revolutionize the world of finance and commerce.

Blockchain Technology in Gaming

Blockchain technology has gained popularity in gaming due to its decentralized nature. This allows secure and transparent recording of transactions and virtual assets. Game developers can use blockchain to ensure asset uniqueness and prevent duplication or manipulation. 

The benefits of blockchain in gaming include the following:

  • Ownership: Blockchain enables players to fully own and control their virtual assets. These assets can be transferred across games and platforms to increase interoperability.
  • Security: Blockchain ensures high security by using an unalterable public ledger to record all transactions. This helps prevent hacking or tampering.
  • Transparency: Blockchain provides transaction transparency. It allows players to view their transaction history and asset provenance.
  • In-game economies: Developers can create in-game economies with virtual currencies. Players can use these currencies to earn real-world value for their virtual assets through trading.
  • Increased revenue: Blockchain allows new revenue streams through the sale of unique virtual assets or in-game economies. This can lead to increased profitability for developers.

Benefits and Challenges 

Digital money in gaming offers benefits for game developers and players. It creates new revenue opportunities for developers and enhances the user experience for players. However, potential risks like fraud and addiction are associated with the use of digital money.

Regulatory and legal challenges must be considered. Governments may restrict the use of digital money in gaming or require game developers to obtain licenses. The practice can also raise concerns about money laundering and fraud. When ignored, these issues may result in legal action against the developers.

Moreover, the lack of clear legal frameworks for digital money in gaming can create uncertainty and risk for both developers and players.

Summing Up

Digital money is changing the gaming industry by offering revenue generation and improved user experiences. However, its impact extends beyond gaming and could revolutionize the global economy and society. 

As digital money evolves, staying informed about its benefits and challenges will be crucial. Game developers and players must learn to adapt and thrive in this rapidly changing landscape.

Community Tips

How Much Does It Cost To Appoint iOS Programmers?

If we consider the current scenario, then people nowadays utilize different categories of solutions to satisfy their purposes. Especially after the COVID – 19 pandemic, usage of smartphones has been bolstered to a considerable level. As a result, there was a massive rise witnessed in the utilization of applications among users. Since then, the usage pace has never slowed, and it has continued increasing till the current date.

It’s a truth to be told that Android devices are utilized in maximum numbers, but Apple devices are no more behind, as they stand second in global usage of smartphones. Over the past few years, the utilization of iOS applications has increased tremendously, and it’s because more than 1 billion users use iPhones, as per 2022 statistics. 

You might be fascinated to hire iOS programmers from an IT company for creating your business solutions and grab an advantage of rising requirements for iOS applications among users, which you might have derived from the figures mentioned earlier. 

So, refer to some things that should be kept in mind while hiring iOS developers and the cost of appointing them are discussed further in this post. Reading all those sections would reduce your hassles significantly for hiring them from firms to get an application for your enterprise ready.

Qualities To Be Considered While Hiring iOS Coders

When appointing iOS coders, you, as an entrepreneur, must ensure that they possess several characteristics to create your iOS solution for an enterprise. Which are those? They are stated below:

Must Possess Knowledge of Swift 3.0

It is an object-oriented programming language by Apple, which has a simpler syntax to access specific functions, making it easier for programmers to adopt. The iOS developers using Swift programming language can create a dynamic application loaded with demystifying features. So, you should appoint iOS coders having knowledge of Swift 3.0 and must be capable enough to deliver you the solution for your business with top-notch performance.

Experience in Xcode

You, as a startup owner, should know that the iOS coder you are looking to hire must possess Xcode IDE(Integrated Development Environment) in their skill sets. It is a solution that contains tools for debugging, interpretation, compiling, automation, and programming procedures streamlined for iOS developers while creating your application. By appointing iOS programmers to develop a solution for your business, you will also be charged a lesser fee for developing and deploying the platform, as Xcode makes such processes much more straightforward. It suggests that hiring iOS coders can assist you in building a platform with fewer expenses.

Problem-Solving Skills

Receiving the solution created by iOS developers is fine, but they should also be capable enough to quickly solve problems with any level of complexity. It is a must that you, as an entrepreneur, must appoint those iOS programmers who possess sufficient knowledge to get rid of any issue popping up in your application rapidly. 

Secured Application

You might be aware that the ios app store doesn’t allow an application to get published if it doesn’t match their set security standards. Hence, as an entrepreneur, ensure that the iOS coder you hire delivers a safe and secure platform to you or not for launching it in an application store.

By keeping all these things mentioned above in your mind, as a startup owner, you can look for iOS developers to hire from specific companies able to provide you with a helpful solution for your enterprise. It will assist you in appointing a perfect iOS programmer who is dedicated and skilled to offer you desirable and practical application for your venture.

Cost To Appoint iOS Programmers

Now, after knowing the several elements to remember while hiring iOS developers, you should see the cost of appointing them. There are numerous parameters that play a vital role in the costs of recruiting iOS programmers, out of which a few of them are mentioned below. Refer to each of them before analyzing the prices of iOS coders:


It is an essential component contributing to the cost of appointing an iOS coder to build a solution for your venture. The complicacy of an application includes:

  • The number and types of features.
  • The design of a platform.
  • Third-party apps to be integrated.
  • The specific database you select for storing user data of your application.

So, if you are thinking of building your iOS solution, then consider all these things about your app to be created. It will assist you in saving additional expenses after appointing iOS programmers.

Number of Coders

The cost also depends on a number of iOS programmers tenant by specific technology partners. The companies need to pay a certain amount to developers occupied working on your project, which relates to your application’s complexity, as discussed earlier. The rates of hiring iOS coders would likely be high if you want more attributes in your solution to be implemented, as a specific number of developers hired by you would not be able to work on other pending projects of the firm.


Based on how experienced an iOS programmer you have hired, the fees would be charged to you by them accordingly. It is because they will help you to avoid specific issues during and after creating the application for your business from their side. In addition, they will also provide you with a bugless application so that you don’t need to spend more money in the future to maintain your solution. Therefore, it’s suggestible that you should appoint a well-versed iOS developer that doesn’t charge much higher nor too lower fees for building your app.

Development Location

At last, along with covering all these factors, the cost to hire an iOS programmer is finally decided by the company, based on the development location. The charges for appointing an iOS developer from any specific country are determined based on their costs of living, hosting charges, and fees charged to them for accessing a particular function. Following are the rates of hiring iOS coders from different countries mentioned. Consider the table below to get an idea about appointing them from a specific location.

CountriesHourly Costs of iOS Developers(in $)
Australia$45 – $65
India$20 – $60
USA$60 – $90
Switzerland$55 – $80
Netherlands$50 – $75
Canada$35 – $70

Final Verdict

In the last few years, usage of iOS devices has skyrocketed to the next level, so numerous ventures have launched solutions in an Apple store to receive the advantages of increasing demand for its apps among people. Apart from this, many startup owners are planning to build their iOS applications for their enterprises, and if you are one of those, then refer to some qualities while appointing iOS programmers and the cost to select them mentioned in a post. It would help you in getting a clearer vision for hiring them.