In the past decade or two, the gaming industry has evolved dramatically, from hand-held gaming devices to sophisticated VR consoles. Since their inception, though, video games have been popular among a sizable section of the global population. So much so that the gaming market is currently at $178 billion in 2021, expected to surpass $268.8 billion by 2025.
Among other factors, innovations in blockchain-powered Play-to-Earn (P2E) gaming have been a significant catalyst for this projected growth. In this article, we highlight some of the beneficial aspects of P2E games.
What Are Play-to-Earn Games?
Play-to-Earn or P2E is a gaming model where gamers earn rewards for playing and participating in the gaming ecosystem. These rewards come in the form of in-game assets and may include almost anything, like gaming tools, weapons, cars, and trading cards. When represented as NFTs, these assets are tradeable on the secondary marketplace.
The tokenization of in-game assets incentivizes the gamers to play and maintain a thriving in-game economy. Players can convert their rewards to fiat currencies as well and use the money for everyday transactions. Consequently, P2E games have emerged as a viable livelihood for many, particularly in the wake of the global pandemic.
Play-To-Earn Games In Developing Countries
The COVID-19 pandemic has devastated the economy of most developing countries. Besides governments locking people in their homes, many have lost their jobs in this period. As a result, many people resorted to P2E games out of boredom, only to realize that in-game rewards could become a steady source of income. This had a domino effect on their neighbors and colleagues, who left their permanent jobs to dedicate themselves to gaming. Others considered Play-to-Earn games a side business to support their meager income.
Countries like the Philippines, Vietnam, Malaysia, Venezuela have witnessed a massive rise in Play-to-Earn gaming. For example, Axie Infinity, a trendy Play-to-Earn game, saw a record 350,000 active users every day. While playing this game, players can earn rewards in Smooth Love Potions (SLP). Each player made around 150 to 200 SLP every day in July 2021, which amounted to about $53.50. Thus, each player earned around $1,500 per month on average, more than their full-time job salaries.
Play-to-Earn Games: A List of 6
Now that you know how rewarding Play-to-Earn games can be, it is time to learn about some of them.
1 Axie Infinity
In this game, virtual pets called ‘Axies’ fight with each other to earn rewards. The players can also earn more by breeding their Axies, selling them, and trading other in-game assets. They are airdropping 8,000 $AXS tokens worth $36,000 to the top 200 players.
This Play-to-Earn gaming platform supports multiple games like online lottery, multiplayer action games, prediction-based gaming, fantasy sports, and NFT trading. The GFX token powers the platform and is used for in-game rewards and transactions.
3 Step Hero
This is a role-playing game (RPG) built on the Binance Smart Chain (BSC) and Polygon. It revolves around a war between Lucifer and Gabriel where players act as heroes to fight against the villains. Gamers can stake their HERO tokens and trade NFTs.
4 Gods Unchained
The players in this game collect cards and battle them out against their opponents or a computerized adversary. Each player gets 140 cards for free and can get extra cards on winning. In addition, players can mint the cards as NFTs and trade on secondary marketplaces.
5. Zed Run
It is a Play-to-Earn horse racing game where players can transact in digital horses and breed new ones. Each horse is unique and algorithmically generated with rare characteristics and genetic makeup. The ZEST token powers the gaming ecosystem.
This is a football-based collectibles game where gamers can trade cards and play fantasy games. Each card is unique, and its value depends on the soccer player’s performance in ongoing tournaments. Sorare has partnered with leading football teams like Paris Saint-Germain, Real Madrid, Juventus, Liverpool, etc.
Will Play-to-Earn Gaming Drive Crypto Adoption?
Play-to-Earn games have enormous potential, no doubt. The in-game rewards and tokenization of assets inject an unprecedented amount of liquidity into these games. So much so that people in developing nations are playing them to fund their everyday finances, as discussed earlier.
Among other aspects, the rise of P2E gaming demonstrates how the blockchain-cryptocurrency sector can diversify and affect people’s lives in myriad ways. Play-to-Earn games are perhaps the beginning of mass crypto adoption and usage. The gaming industry, for one, is going to the moon. And at Airdrop Alert, we are dedicated to bringing you all the latest updates and current news. So follow us to keep pace with the booming P2E sector and never miss the opportunity to be a part of the future.