NFT, P2E & Metaverse Game Market Size and Oppertunites

The rise of the robust Blockchain Technology world has brought about plenty of changes in the way modern-day gaming works. The modern-day gamers are straight out of the GenZ world and focus on adding skills with income. The play-to-earn games have generated millions of revenue by 2021. The pet-based play to earn NFT game, Axie infinity single-handedly generated a tremendous revenue of $1 Billion.

The play-to-earn gaming economy is part of the largest growing economies in the present-day world. According to a prominent website, DappRadar, even during the unlucky times of the Cryptowinter, when many crypto-giants were falling off places completely, the rise of the play-to-earn games was witnessed.

Introducing Play-To-Earn Games And The P2E Business Opportunity In The Metaverse

The play-to-earn games are blockchain-based games that provide options for creating an income based on the gameplay. The blockchain-based p2e market growth comes from the rise of various business models used in the blockchain industry.

Many of the online games so far have had a very centralized governing system where everything was controlled by the developers only. With the rise of play-to-earn games, game publishers lost much of their power. Before the rise of p2e and the decentralized gaming patterns, the games could take away the in-game assets like the skin and power features without hinting at the users.

The play-to-earn gaming platforms now have developed an option of voting where the players drive the game, and any new feature is added to the game by the wish of the players themselves.

Redefining the Different Business Models Used in P2E Market Growth

1. Pay to Play

In pay-to-play games, the user has to buy the game before downloading and installing it. Many platforms like Apple Arcade, EA Origin Access, and Xbox Game Pass require monthly subscriptions. The game developers also own a specific amount of game money that depends on how many downloads the game gets.

2. Free to Play

In free-to-play games, the users, as the name suggests, enjoy free download and installation. But to access some specific features of the game, the user has to buy the in-app purchase versions.

3. Play to Earn

In this model, the player must remember that gaming skills are fused with income. The users can enjoy the perks of earning tokens that are valued for real money and can be exchanged for real currency at exchange platforms. The gamers have to battle or breed to earn cryptocurrency.

Understanding The Framework Of The Play-To-Earn Gaming Model

The groundbreaking combination of blockchain technology and the p2e business model has led to a noteworthy reformation of many games that work by creating their own native token currencies, assets, virtual worlds, and much more.

Many p2e games offer trading to earn NFTs and the highest bidding sum at the NFT marketplaces. The idea lies behind selling in-game assets after launching a game. The sale of NFTs comes along with the marketing of the game, which will help increase the buyer’s revenue income.

The digital assets included in the game, like the plots for sale or the weapons and their skins, can be traded with other game players as NFTs. This is done effectively on a renowned NFT marketplace platform. These items are sold and purchased as tokens, and they cannot be duplicated as they are unique and transparent to dodge ownership issues. These tokens are further stored safely on a distributed ledger. Recently a virtual land plot in a game called Decentraland was sold for $1.3 M.

1. Axie Infinity

The most talked about play-to-earn game currently is Axie Infinity which generated total revenue of about 8.3 billion dollars. The game has pokemon like characters that are bred and battled with each other to earn tokens valued for real-world currency. Axie Infinity is also the first game that has rocketed the sales charts by crossing $1 billion in sales.

The Axie Infinity regained its prominence in 2020 after covid had hit the world with its wrath. The play-to-earn platform in Axie infinity was so considerate that not just the unemployed but also people with good jobs were leaving their work and earning thousands of dollars on Axie Infinity. The initial investment is around 700 dollars to buy the initial axies for starting the gameplay.

Categorization Of The Play-To-Earn Crypto Games

1. The Games That Involve Trading Cards

The NFT trading cards are digital collectibles developed in limited numbers and function like real trading cards. Their value is decided on parameters like rarity, utility, and ownership. The most famous P2E games are Sorare and Gods Unchained which have generated skyscraping revenues in the metaverse. The power of the NFTs relies on the fact that they are tradeable assets out in a limited supply.

2. The Role-Playing Games (RPG)

Role-playing games enable gamers with powers to control the characters with unique and exciting features. The players are assigned some tasks that have to be completed to be experienced enough to gain access to better character skins and weapons. The blockchain-based RPG uses Non-fungible Tokens to generate in-game assets. The RPG games are further subcategorized into action, massively multiplayer online role-playing games, or MMORPGs. Axie Infinity is one of the examples of MMORPGs.

3. Metaverse Games

The metaverse is a new world where users can interact virtually, play, build, and leverage monetization’s power. The most well-known P2E games are Axie Infinity, Decentraland, Cryptokitties, and others.

Comparing The Trend Of P2e And Its Importance In The Gaming Industry Currently

This is an entirely positive trend with an excessively bright future. The new age gamers are tired of the old and outdated traditional games and welcome the play-to-earn games with open arms. These games give them a sense of ownership and the chance to interact with other players in the same gaming community.

Highlighting Traditional And P2e Games Revenue Generations In The Near Future

Let us begin by considering the fact that play-to-earn games are creating a new army of gamers who are hunting for effective ways to earn an income through their gaming skills. This indicates that the play-to-earn games have the strength to rise above the traditional centralized games in the future. The play-to-earn games add exceptional value to the players. The players can just let go of some dollars from their pockets and forget about the game in the traditional games. In play-to-earn games, players can earn while playing, showing their importance.

Without a doubt, play-to-earn games are sustainable enough to surpass traditional games. The old conventional games need constant updates and fresh content to hold the players to their computers. Play-to-earn games, the future of modern-day gaming, are played indefinitely because no player can ignore the amount of income earned by playing the p2e games.

Conclusion: Selecting Your Ideal P2e Blockchain Platform Development

There are numerous blockchains on the broad market in the world of web3. Each one of them offers its own particular set of capabilities and features. Certain factors like the transaction speed, consensus mechanism, the support of NFT, and sustainability should be kept in mind while choosing the ideal blockchain. Crypto p2e games depend entirely on the robustness of th blockchain technology used.

This is very important to identify and choose the ideal platform for your p2e development. Given that play-to-earn crypto games are underpinned by and highly reliant on blockchain technology, it is vitally important to identify the most suitable platform.

The metaverse is still in its infant stage, but very soon, in the next 20 years, it will be the forerunner of all p2e games. The most crucial factor about the p2e games that run on the metaverse platform will be the inclusion of several new technologies like AR and VR. Very soon, we will surely witness an entirely revolutionized power of P2E games.

Many renowned companies provide top-notch p2e game development services with customizations based on the business model on which the game is based. Choose your company wisely.