Towards a gaming revolution thanks to NFTs and metaverses

Games Play-to-Earn (P2E) are taking the gaming industry by storm. Its exceptional gaming model rewards gamers with NFTs to play games that they would likely have played for free before the advent of blockchain.

A very attractive model

With the increase in digital ownership, it is evident that P2E games are the future of gaming as users are more interested in owning these unique in-game tokens. Games like Axie Infinity are highly regarded as they allow users to gain value in the real world. They also facilitate the adoption of cryptocurrencies. This attracted people to the blockchain space. Indeed, one can earn tokens with real value and utility while playing challenging and well-constructed games.

With traditional games, the relationship between the game company and the player is one-sided. The game company only makes profit, while the player has nothing, unless he is an e-sports player. Blockchain games have changed the paradigm, allowing gamers to monetize their time. This paradigm had already been attacked, in particular thanks to cryptocurrencies, which had allowed players to resell tokens on parallel markets. in-game grace. This had also made the fortune of some who sold against bitcoins at a time when it was worth almost nothing.

These games representing a new economic model, it is not surprising to see dormouse growth exploded over the past two years. DappRadar reported that more than 50% of blockchain users are plugged into a gaming app. Learn all about play-to-earn in this article.

The global gaming market was valued at $173.70 Billion in 2021 and is expected to reach a value of $314.40 Billion by 2027 at a CAGR of 9.64%. There are over 3.1 billion gamers worldwide and this number is expected to grow significantly in the coming years. The mobile gaming industry alone is expected to reach a value of $272 billion by 2030.

The emergence of metaverses has added a distinct flavor to blockchain games. Gaming is all about user interaction and experience and metaverse has improved it dramatically.

Metaverse games are becoming more and more popular among gamers and the main reason for this is the highly immersive digital world in which users can interact easily.

The involvement of virtual reality takes the engagement experience to the next level. Games are looking for an ever deeper and more unique immersion to play it, mixed the metaverse, P2E and virtual reality and you have a game that is ultra-immersive, hyper-connected and rewards the player when they play.

The Metaverse
Photo by Julien Tromeur we Unsplash

Reviews of these new models

However, not everything is so simple in this transformation undergone by the gaming. Indeed, many players and communities refuse this passage and boycott traditional companies like Ubisoft which are increasingly integrating blockchain technology into their games.

Many players are afraid that this world will become more a race for tokens and money than a pleasant experience for the player and a discovery through the missions or the scenario of a game. It is true that always involving more of tokens, NFTs and the relationship to money in games can change the way players play.

However, it is worth remembering that there have never been so many independent game developers, and that the blockchain and crowdfunding thanks to tokens and NFT allow an explosion in the number of small games coming out. Developing a game is expensive, and if you want to continue to enjoy a wide choice of independent games, the best way is still to support them.

Blockchain is shaking up the gigantic video game ecosystem. There will be errors and abuses, as with everything. But this revolution will allow for healthier funding, fairer rewards, and a direct relationship between game developers and their community.

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Alexis Patin

Passionate about geopolitics, economy, cryptocurrency, Eurasia and travel! (as far east as possible), crypto-trader for 4 years.

We wish to thank the author of this article for this remarkable material

Towards a gaming revolution thanks to NFTs and metaverses

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