The gaming industry is always evolving, and there is no better way to prove this than to look at the differences between the arcade games of the 80s and 90s and popular games today. The biggest shift in gaming in recent years has been the emergence of play-to-earn games.
These games allow players to earn real-world money or cryptocurrencies while they play the game or achieve in-game goals. As with everything else that happens in the gaming industry, players are asking whether play-to-earn games are a fad or the future of gaming to determine whether they should put their time and effort into playing these games.
The Rise of Play-to-Earn Gaming
Play-to-earn games leverage the blockchain network that gives them their earning features. When used in this way, the underlying blockchain network of a play-to-earn game allows players to earn cryptocurrency and trade it with other players and also enables digital ownership of in-game assets. Players can convert the cryptocurrency, in-game assets, and other digital rewards into real-world value.
With the potential to earn a decent amount of money, play-to-earn games have led to a global trend where players are dedicating a lot of time and effort to play them, build virtual worlds and personas around them, and earn assets with great value.
Some Argue Play-to-Earn Gaming is a Fad
Some critics argue that the play-to-earn gaming industry is a trend driven by online hype and a desire for quick profits. While that is often true for most new industries as people try to figure them out and take advantage of them, there are arguments against this notion.
Critics also point to the potential for regulatory hurdles, but the fact that cryptocurrencies are thriving means this should not be an issue. Regarding market saturation, the regular gaming industry is still going strong despite players having access to tens if not hundreds of thousands of games.
Play-to-Earn Games Are the Future of Gaming
Supporters of p2e gaming make a strong case for it being the future of gaming. Their big emphasis on why this is the case is because it is changing how we think about value creation and virtual economies. The principles of ownership, trade and scarcity that these games are built upon align well with the move towards decentralised systems and digital assets that supporters of the blockchain and digital assets want.
Additionally, play-to-earn games could become an essential part of the gig economy, allowing players to monetise their skills and time in new ways. This is very different from regular games where players only get enjoyment out of a game.
Play-to-earn games also allow players to have complete ownership of their in-game assets. Whatever players earn or obtain while playing a game is entirely theirs, and they can do anything they want with it. Many choose to trade their in-game assets to earn money, but nothing stops them from gifting them to other players or anyone else on the blockchain.
Play-to-earn games are leading a revolution in the gaming industry, changing how we think about monetising money and skills, and how we view value creation. While they are a somewhat novel concept, they are becoming mainstream, and many players and developers are taking note and entering the realm of p2e gaming.