Towards a gaming revolution thanks to NFTs and the metaverse

Towards a gaming revolution thanks to NFTs and the metaverse

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

A very attractive model

With the increase in digital ownership, it is clear 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 because they allow users to gain real-world value. They also facilitate the adoption of cryptocurrencies. This attracted people to the blockchain space. Indeed, you 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 gaming company only makes money, while the player has nothing, unless he is an e-athlete. Blockchain games have changed the paradigm, allowing players to monetize their time. This paradigm has already been under attack, especially thanks to cryptocurrencies, which have allowed players to resell tokens on parallel markets. in the game grace. Some who sold for bitcoins at a time when it was worth almost nothing got rich with it.

These games represent a new economic model, so it is not surprising to see the explosive growth of fluff in the last two years. DappRadar reported that more than 50% of blockchain users are attached to a gaming application. Learn all about the game for money in this article.

The global gaming market was valued at USD 173.70 billion in 2021 and is expected to reach a value of USD 314.40 billion by 2027 at a CAGR of 9.64%. There are more than 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 the metaverse added a special flavor to blockchain games. Gameplay is based on user interaction and experience, and metaverse has dramatically improved it.

Metaverse games are becoming more and more popular among players, and the main reason for this is the highly immersive digital world where users can easily interact.

The inclusion of virtual reality takes the engagement experience to a higher level. Games demand deeper and more unique immersion to play them, mix the metaverse, P2E and virtual reality and you have a game that is ultra-immersive, hyper-connected and rewarding the player when playing.

The metaverse
Photo by Julien Tromeur on Unsplash

Reviews of these new models

However, not everything is so simple in this transformation he is going through game. Indeed, many players and communities reject this passage and boycott traditional companies like Ubisoft, which is integrating more and more blockchain technology into its games.

Many players fear that this world will become more of a race for chips and money than an enjoyable experience for the player and discovery through missions or the game scenario. The truth is that it always involves more tokens, NFTs and relationships in-game money can change the way players play.

However, it’s worth remembering that there have never been so many independent game developers and that blockchain and crowdfunding thanks to tokens and NFTs are enabling an explosion in the number of small games coming out. Game development is expensive, and if you want to continue to enjoy a large selection of independent games, the best way is to support them.

Blockchain is shaking up the gigantic video game ecosystem. There will be mistakes and abuses, as in 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 Skate's avatar

Alexis Patin

Observer of the monetary, economic and social revolution.

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