Surviving and Thriving in Minecraft's Latest Virtual Bitcoin Economy

Gaming has long been seen as a potential use case environment for bitcoin and other digital currencies, given that the online entertainment sector is an established testing ground for new payment mechanisms and models. Differences in implementation and focus aside, digital currency holds the potential to constitute core functions within a gaming environment. Today, both new and existing games are beginning to tap bitcoin for inclusion in their platforms.A new Minecraft server named BitQuest is hoping to utilize decentralized currencies to boost participation, as well as create a more dynamic gaming environment. BitQuest follows in the footsteps of several other bitcoin-powered servers, including the now-defunct BitVegas which once offered various mini-games denominated in digital currency. Incorporating the Xapo API and the game’s broad capabilities for developers, the BitQuest team has created an environment in which bitcoin functions as its base currency in an organic, easy-to-understand way. Notably, players are unable to deposit bitcoins: “bits” can only be gathered from in-game actions through an item-based resource system.According to chief developer Cristián Gonzáles, this approach keeps the playing field fair for both new and experienced players. The game is funded through a mixture of donations, sponsorships and an in-house mining operation, and players that want to withdraw their accrued bits need a Xapo wallet. Gonzáles told CoinDesk that ultimately, the goal is to keep the in-game currency truly decentralized in the gaming environment by keeping the door open to new and interesting ways to generate bitcoin natively. While still in beta, he says BitQuest is proving that bitcoin has a role to play in virtual gaming ecosystems.

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Link: http://www.coindesk.com/minecraft-bitcoin-economy/