How P2E Gaming Will Dwarf Traditional Gaming and Why
Gaming — whether it was through gambling, betting or in video game format — has traditionally been considered a lure for a certain group of dedicated players. Whether it was through brick-and-mortar casinos, video game stalls or online gaming, it has not been received very favourably by the masses — perhaps until now. Gaming may not be seen in a very positive light by many — maybe even frowned upon — but add the possibility of earning through it and most people will see it in a different light. This is the major reason why Play to Earn (P2E) games have begun to gain mass approval and mass participation in countries like the Philippines.
While the Coronavirus pandemic was a bad thing in many ways, it created some shifts that created other opportunities. Online trading and online activity seem to have risen drastically during the lockdowns, and sometimes new habits — like old — die hard. One area that has seen immense growth in the last year or two is Blockchain games. These crypto-based games have not only created a model that old gaming lovers find appealing but have also attracted millions of people who had no desire to play games before. The top performers are NFT games designed to earn the participants some money in the form of cryptocurrency while playing.
Reasons why Play to Earn Crypto Games Have Become So Popular
*Much of traditional gaming is based on fun-focused games that may not earn the players any money — they may just end up spending. NFT Play to Earn games allow players to earn tokens through the NFTs. Tokens backed by popular cryptos or growing demand are highly likely to increase in value over time. (For instance, the Axie Infinity Token which is the token of one of the most successful Play to Earn games — backed by arguably the leading Play to Earn game, was worth $5. On 30th June. By the 10th of November 2021, it was worth $150). With P2E focusing as much on fun as they do on business — games that allow you to earn will only increase in popularity. That could be the reason people from all walks of life in countries like the Philippines are embracing this new way of making money. Many traditional video games rarely give rewards other than points and non-monetary gifts.
*Because Play to Earn gaming brings about access to instant rewards, it is very appealing. Players can immediately trade with the rewards they earn by trading NFTs and tokens. Of course, traditional gambling can give you instant rewards, but gambling is really a game of slim chances.
*Control: Play to Earn games give the player much more control. You can create your own item on the Blockchain and sell it at a profit — all in the process of playing a game.
*The growing world of “metaverse” where virtual becomes reality has been growing steadily and made it possible for P2E gamers to create virtual assets like “land” or “real estate” and sell them — at staggering prices!
Why Play To Earn Gaming Has Mainstream Appeal Compared to Traditional Gaming
*Video gamers were considered by many to be lazy geeks with time on their hands, but P2E Blockchain games have changed the game. Now you can earn money playing online games and be rewarded with valuable crypto tokens or NFTs.
*Many people have a certain attitude towards gambling but P2E has been riding on the growing crypto wave and the respect cryptocurrency has earned as a solid investment with solid returns. It’s no longer just gaming — its business and investment.
*Gamers who used to play for mere fun have discovered a major opportunity to make money gaming through Play-to-Earn crypto games like Axie.
Why Play to Earn Gaming Will Dwarf Traditional Gaming
*Considering that the P2E Games have proved to be a solid and growing source of income (in comparison to traditional gaming that was a game of chances or merely fun-focused) then it is safe to say that this new trend is the future. We are at the beginning of the NFT and Play to Earn gaming revolution, and this will totally disrupt or push traditional gaming to the corner.
*Cryptocurrency and Blockchain may have been dismissed as a passing cloud in the past, but the growing adoption and popularity means that the Blockchain is here to stay. The opportunities attached to the Blockchain — which include Blockchain games — will only continue to grow and gain appeal. For this reason, it could be said that no one knows with absolute certainty just how big NFT gaming will be but as these games advance we will see a seismic shift as they are certainly no longer a niche. That ship has sailed. Any vehicle that can be used to drive the economy in this way (via mass appeal) has every chance of immense growth. The world of the Blockchain itself may seem a little niche right now, but that may not be the case for long. Even the internet — to use an overused example — seemed like a niche product just over two decades ago and key to the imminent mass adoption of Blockchain is in the numbers of people that are seeking to understand it.
*Some NFT gaming developers have also mentioned that they use the games to introduce people to crypto, give them access to a crypto wallet and start them on what is likely to be the finance system of the future. Some of these people have no bank accounts except their crypto wallets. Play-to Earn gaming may therefore be just a starting point to something much bigger, and not just a fun pastime like traditional gaming.
*We cannot underestimate the connection between the metaverse and its growing popularity (pushed by people like Mark Zuckerberg who believes it has or should have mass appeal), NFT gaming and the steadily growing crypto market, and how these are likely to carry each other towards more success. It is important to consider the role of such fun things as gaming or appealing things as dog-themed memes and fun-themed NFTs and how these continue to draw the masses to what would normally be considered as the “world of nerds.”
With the growing adoption of crypto and the Blockchain world, nearly all future gaming may happen on the Blockchain. Play to Earn gaming is not only here to stay but may go mainstream (as it has done in the Philippines) and quite likely change the world of gaming forever.
