The young generation spends more time in front of computers and lives an increasingly digital life. In different online games, more and more so-called virtual currencies are used to buy and sell items in the game.
Now, a new consumer report from the investment bank Piper Jaffray shows that young people prefer cryptocurrencies and v-bucks, a virtual currency used in the popular game Fortnite, before cash or regular gift cards as Christmas presents.
In the past, fiat currencies, which is ordinary money, in the form of gift cards and cash, has been the most popular among young people, according to Piper Jaffray, financial information website Marketwatch writes.
Virtual currencies popular among young people
In the Fortnite game, the virtual currency v-bucks is used to buy new characters and items in the game. In June, Fortnite had sold v-bucks for over $1.2 billion to different users, according to the data company Superdata.
The payment and use of virtual currencies on different platforms have become more popular and continue to attract young people. Virtual currencies are often independent of regular fiat money. Some argue that this indicates that cryptocurrencies and virtual currencies are increasingly perceived as a means of payment.