Blockchain and PlaytoEarn Games Provide an Evolution for the Gaming Industry

2021.10.25

Blockchain and playtoearn games are providing an evolution for the gaming industry. I believe that the future of the gaming industry should be positively impacted by the crypto adoption. Recent research will yield a increase of more than 9 percent over the next five years. Online gaming has seen a huge increase over the past few years, due partly to the COVID-19 pandemic. Online gaming has been on the rise for the past few years.  This is for a good reason. With the onset of a worldwide pandemic and the ongoing increase in mobile and internet penetration, more people are spending more time online. It isn’t a wonder that the industry is raking in over $20 billion in revenue for 2020. It could be that they play to earn, takeover the gaming industry. The topic of Play to Earn games makes me recoil in horror, and now I believe they are a more important proposition. Game developers were working against players to market their play. When we hear about globalization we think of public policy, trade agreements and the like. The connectivity of the world is not happening in boardrooms, but in virtual environments accessible from across the globe. Massively Multiplayer Online games have changed the way we interact, form friendships and establish communities, allowing people to connect. This information should not be construed as financial advice. On Yavin is a serial entrepreneur, lawyer and angel investor. Over the years, he has established and built several successful companies.  In addition, he has provided funding and mentorship for many others. He joined the blockchain industry in 2017 with the founding of Cointelligence.

 

 

Blockchain – A New Game Economy Model:

Playtoearn games will help the blockchain industry produce an interesting innovation and a strong push for its mass adoption. If you are not familiar with them, rewards for your participation are accumulated by playing to earn games. Several tournaments have enormous stakes, which increase the excitement involved. There will be some changes that we will be awaiting in blockchain gaming, as well as decentralization, scalability and unbiased inclusionBig names in playtoearn games Every gaming enthusiast may be aware of the big names debuting in the playtoearn space. A blockchain-based game is managed by Axie Infinity and has been popular ever since it was released. The game permits you to capture Axies and fight other monsters. The game can be played on a desktop or mobile device.  It has a play to earnings model so that each monster and every other piece of gearThe spoils of the battle are gone by the victors of the skirmishes.  In the form of cryptocurrencies called Smooth LovePlayers must build a collection of the strongest Axies.  Value is determined by Ether’s. Money in form of SLP tokens can be traded for fiat currencies or sell their axes once the value of those axes is appreciatedIn November 2020, a Xaxie was sold for 300 Eth.  worth more than $1. A veteran game designer of twentyfour years is known for saying that.  A fine one to talk is a fine one to talk, perhaps it’sMy mental state demonstrates where my preconceptions lie when I perform Pay to Earn. The word earn often has the connotations of significant income through work, when in fact we are speaking of having the opportunity to play in a wayDepending on how you play, $20 or $200 may be used to determine the actual value. Although the transfer is not certain, I agree with NonFungible Bescancia, that Free To Play games are no longer relevant. It becomes almost impossible for players to recover some of their costs from prior purchases if the exchange of goods is legit and transparent. The game publishers are the ones who own participation in their growth.  So the economic potential of these game communities may be borne by these closed systems. Blockchain is paving the way to new game economy models. The Philippines viewed a large number of nontraditional gamers during the COVID-19 lockdown in 2020 as a way to earn income. Grandparents, single mothers, and taxi drivers rely on a video game to supplement their income by playing, crafting, and trading digital assets. Various kinds of games are made by these MMO’s. Ads are everywhere on different websites and platforms when we are using them. Think about who largely benefits from these advertisements. ‘Answer’ is the creator of the ad platform. For example, the worlds largest search engine is going to Google, and a small amount is going to the publishers. cryptocurrencies are constantly evolving with cryptocurrencies offering innovative search engines and browsers. Revsharing has been created by different startups so when users use a search engine or a browser, the revenue will be distributed. It should be made by them, so that the publishers should profit much more than what they currently profit from. While they have watched the ads continue to be lucrative, just a small portion of the revshare would be saved by them.

 

 

Farmers is a P2E game that allows players to select from a variety of tools to upgrade crops:

The additional advantage to play-to-earn games is presented by this factor. It is a gateway to greater crypto adoption, as many aims to get NFT art rarities. Cryptocurrency can play a significant role in reward systems and ingame trades. Blockchain games are a key to the progression of the crypto and gaming industry at large. Polygon’s blockchain is used to build all items in the game.  It provides for better transaction finality and a lesser transaction cost. Farmers World farming games have grown increasingly popular thanks to their simple gameplay strategies. Farmers is a P2E game that allows players to select from a variety of tools to upgrade crops and harvest them. Jed Halfon writes these words about games being your next investment manager. Currently, a crypto-USD based bank account that pays more interest than a bank and improves your game experience. Wait until Fortnite doubles as your retirement fund if regulators are having kittens over Facebook’s LibraMany players are notoriously difficult to design.  Real money aspects are a further complication. The excitement regarding crypto and NFT has everyone wondering what will happen in the next twelve months. Smart investors and developers will consider three to five years for this technology, which will be the critical period. Some projects have raised millions based on the community of support. Some of the community members of a specific project have been around supporting the project from its initial inception and it is exciting to see how dedicated some ofGaming produces communities that differ in their characteristics.