In this blog, we explore different types of in-game currency used in the gaming world. Let’s get started!
Currencies are the foundation of modern real-world economy and are used for trade and commerce. Currencies are extensively used to purchase goods and services, as a unit of account, and store of value. In-game currency on the other hand refers to any cash spent inside a game to purchase goods, equipment, or open player packs.
It may also be referred to as credits, coins, points, or gold. These in-game currencies are how gaming firms make money from a game, and they’re made to encourage players to keep purchasing more and more. In this blog, we explore different types of in-game currency used in the gaming world, including the ability to buy HC Classic WoW gold which has grown to be a significant part of the gaming industry for fans of the World of Warcraft Classic experience.
Different Types Of In-Game Currencies
In-house currencies are a key part of the gaming industry and serve as the lifeblood of virtual economies. In-house currency is an element with no use value but its main purpose is to be exchanged for something else with actual use value. They exclude score metrics like Trophies and progression metrics like Experience Points or Player Level. Instead, they focus on resources or items that accumulate to buy upgrades, like Clash Royale cards. Players have the chance to trade or convert their virtual riches into goods or advantages with features like game currency exchange systems. These features can help shape the in-game economy.
The types of currencies are not mutually exclusive, and some may be subcategories of each other. Here are some of the different types of in-house currencies.
Hard Currency
Hard currency, also known as cash, is a high-value currency obtained through in-app purchases (IAP) and is closely related to monetization. It is the most useful commodity in the game currency list and allows players access to exclusive premium content, such as Gems in Brawl Stars and Gold Bars in Candy Crush Saga. Hard currency is the closest thing to a universal medium of exchange, as it allows players to purchase content and exchange it for other currencies.
However, overflowing the economy with hard currency can diminish a game’s ability to generate situations of scarcity where players need to spend real money. Therefore, hard currency sources tend to be few and under strict control, avoiding inflation over the game’s progression. Some games use a game currency generator, periodically providing players with a limited amount of hard currency to keep the in-game economy balanced and engaging. To check the health of an in-game economy, check the sources of hard currency and the amounts stored by paying and non-paying users. If used wisely, hard currency is an excellent reward, as it is extremely valuable for all players regardless of their progression or spending.
Also read: What is Cryptocurrency Trading?
Soft Currency
Soft currency, also known as coins, is a low-value, general-purpose currency obtained for free through gameplay or waiting. It is part of the dual-currency mechanism in F2P games, separating non-paying content from premium, exclusive content. Examples include Credits in Call of Duty Mobile and coins in Idle Miner Tycoon.
Medium Currency
Medium currency is a currency that players can grind easily without destroying the economy but is too soft for monetization. It has limitations for usage and accumulation, making it resilient to devaluation and offering additional monetization opportunities.
Energy Currency
Energy currency is a currency used for playing time, either as a strict cost per action or a payment upon failure. It aims to limit the time players can spend in the game for free. Feature currency, on the other hand, is a currency linked to specific game activities. It can be used to force users to play a specific section of the game for rewards, isolate a system from the rest of the in-game economy, or limit access to a specific feature that may be detrimental to the economy. These in-game currencies help manage and balance the game economy.
Also read: How to find remote video game jobs? | A short guide
Social Currency
Social currency, also known as virality currency, is a feature currency that encourages social interaction and connectivity within the game. It can have two meanings: bringing new users through existing players or incentivizing interaction between existing players to boost engagement and retention. Examples of social currencies include Pal Points in Puzzle & Dragons dungeons, which grant monster egg rolls, and Social Points in Summoners War, which allow players to summon more creatures.
Guild currency
Guild currency is intrinsically related to clans/alliances/guilds features and has unique mechanics related to being generated by a group. Examples of guild currency include Guild Coins, Renown, and Guild Points. These currencies may also have additional social dynamics beyond their direct exchange usefulness, such as clans using them as an indicator of contribution to group hierarchy or setting periodic quotas as a requirement for membership.
Event Currency
Event currency is another feature currency that introduces entire layers of the game economy independent from the main game. Many games use event currencies, which exist temporarily and focus on a time-limited event, allowing players to purchase rewards or participate in exclusive rewards.
Discard currency
Discard currency or dust is another in-game currency, is obtained through the destruction of game items to extend the usefulness of items beyond gameplay and decrease friction or randomized drops and meta rotations. Examples of discard currencies include fusion systems, which transform items into rewards that can be given recurrently, loot boxes, collection completion, and updating inventory.
VIP currency
VIP currency, also known as Prestige, is generated as a side incentive for monetization and customer reward in games like Steam. Steam Points are granted to purchases, which can be used to buy chat customizations and stickers.
Informal Currency
Informal currency, on the other hand, is a game element that players use as a medium of exchange, even though the developers intended it differently. This can occur in games that allow item gifting and trading but don’t allow sending currency, to avoid exploits like creating fake accounts, alternative sellers, or hackers breaking the economy. It can also occur if the main currency method is heavily devalued or if another game item is better suited to act as currency.
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