Crytek Introduces New Cryptocurrency For Games

Crytek believes that it can monetise gaming on a whole new level by introducing Crycash; a new gaming-centric cryptocurrency. The system is meant to reward gamers for playing games based on the CryEngine, and also provide developer with another means of revenue.

Crycash can be earned through playing games from Crytek partners. At this moment, that only includes Warface (a game developed by Crytek itself). There appears to be a partnership with Ryse: Son of Rome on the Xbox, but it doesn’t look like the game is supporting Crycash yet.

Another component to Crycash is the Plink app. It appears to be something similar to Discord, in that it functions as a means of communication between gamers. The difference here is that Plink will include daily and weekly challenges for users to earn Crytek’s digital currency.

Crycash is an odd addition to the crytocurrency world. It cannot be mined like other currencies, and must be earned through gameplay; although it looks like the creators still believe that it will be valuable as an investment.

Complicating matters is that Crytek wants to push Crycash tokens as an esports incentive. It believes that the value of the currency will allow it to replace cash prizes, and that regular viewers will want to use it to place wagers on games for the chance to earn more tokens.

The only benefit of this entire deal that we can see is that Crytek is allowing people to cash out at any time. The company is promising to buy back all tokens from those who want ditch the currency, although the value will be based off the market value of Crycash at the particular time.

[Source: Crycash]