Play-to-earn predicted to dominate gaming

The gaming industry will be 90% dominated by play-to-earn crypto games within five years, according to Reddit co-founder Alexis Ohanian.

Speaking last month, Ohanian said he expects play-to-earn to prove a strong incentive for players who will actively look to make their time more worthwhile while gaming.

This change is likely to happen within the next few years, Ohanian told Business Insider, and similarly appeared on the Where It Happens podcast where he reaffirmed his belief in the future of crypto gaming.

His comments come shortly before a market crash for Axie Infinity, one of the biggest play-to-earn games worldwide. Ohanian expects that people will no longer consider it worth their time if they are not getting actual value out of the game, beyond pure entertainment that is.

“Ninety per cent of people will not play a game unless they are being properly valued for that time”, he added.

He argued that the current models where peoples’ data is harvested by advertisers and they spend on in-game cosmetics, which is stupid as a matter of fact he interjected, would no longer be sustainable.

“You will actually value your time properly”, Ohanian continued. Axie Infinity has been one of the biggest examples of how it’s possible to incentivize people into playing a game that rewards them with a measurable real-world token. However, as the Axie Infinity economy has matured, so has the barrier to entry.

Today, starting on the game would cost a minimum buy-in of at least $300 which is a much higher barrier than its richest players had to pay when they first started. Axie Infinity has been known to turn people into real estate owners.

Clearly, the play-to-earn economy has not been streamlined. Not even close. While early entrants have had a disproportionate advantage, others have felt left out.

On the plus side, there has been stronger competition in the play-to-earn segment recently translating into more ways for people to play such games and avoid steep entry barriers.

If you are keen on exploring a play-to-earn game yourself, we recommend turning to some of the casinos we have to offer, including Bitcasino, 1xBit or FortuneJack.

Source

Updated: 02/07/2022 — 08:00