A New Way to Earn Bitcoin Playing Your Favorite Video Games: Leetcoin
by Gavin Knight | Sep 3, 2014 | Crypto News
Wouldn’t it be great to be able to play your favorite video game and become rich doing it? If all those hours you have spent playing Counter-Strike could be translated into money? Well if you have the skills to beat some of the fiercest competition in your video game of choice, Leetcoin is here to turn that dream to a reality.
Leetcoin is a new competitive gaming platform where players are given the opportunity to monetize their talent in their favorite video game. Through Leetcoin, players will be able to play against competitors in real time for Bitcoin. In order to use Leetcoin, a player must sign in through their Steam account and deposit Bitcoin to be available to be placed in a Leetcoin server. From there, players will either make or lose Bitcoin depending upon how they do in the game.
A player will remain on the Leetcoin server until they either leave themselves, or their balance falls below the minimum level and they get kicked. Leetcoin provides immediate payouts and the opportunity to leave a server at any time.
Leetcoin can be set up by developers to run for long running games like Counter-Strike, or create them to run on a temporary basis for shorter games like tic-tac-toe, or a 1v1 challenge. Developers will also be able to set up minimum balances, and win rewards. They will also be able to set the way in which players make money (and lose money). For example, one could make money every time they get a kill (while player who got killed loses money), or players could make money as a team when they win in a team structured game.
For now, Leetcoin does not have direct support from the developers of any games. However, Leetcoin is currently in talks with League of Legends, Counter-Strike, and Team Fortress 2, to name a few. Leetcoin’s API is open and available to use for free, and Leetcoin encourages you to contact to your games and platforms to bring Bitcoin to gaming. Currently Leetcoin is only legal in 37 out of the 50 states, so if you live in Arizona, Connecticut, Delaware, Florida, Illinois, Iowa, Louisiana, Maryland, Montana, South Carolina, South Dakota, or Tennessee, unfortunately you’re out of luck.
Leetcoin hopes that its technology will be at the forefront of the future of gaming. As the gaming industry continues to grow, implementing a system where gamers can play against each other for money will bring about a new level of competitiveness and legitimacy to any player. Game developers can capitalize on the fact that players now have a financial incentive to invest time into playing their games, and those players who have already mastered their game of choice have the potential to be rewarded abundantly. As the gaming industry continues to evolve, it seems to be almost a nobrainer that a service like Leetcoin will be well received.
For now, Leetcoin’s team of “hackers, entrepreneurs, and hipsters” have been making their way around various Bitcoin marketing events and informational sessions including a day a MIT, SXSW, and the Central European Bitcoin Expo. You can keep up with Leetcoin’s developments on their website at www.leetcoin.com.
Gavin Knight for CEX.IO
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