A Complete Guide to Gambling to Win Game Economy
Today, the Play to Win or Say GameFi segment has become the fastest growing segment in the video game industry. More than 3 billion people around the world spend time on online games. Hence, the industry reached $116 billion in 2021 and is expected to grow in 2022 and beyond.
One of the key factors to outperform the gaming industry is its flexibility on smartphones and blockchain security. Players can play games and potentially earn cryptocurrency. Thus, popular platforms like Axis Infinity, CryptoKitties, Decentraland, STEPN and DeFi Kingdoms are able to engage users from 4000 to 2 million in just a few months.
The game to earn platform offers huge opportunities for businesses and gamers to earn money by selling different skins, maps, weapons and more in-game assets. The platform offers exclusive services to the end of the mission, level up or in exchange for cryptocurrency. In the world of play-to-win platforms, the movies and music industry also combined to reach $116 billion in revenue in 2021.
If you want to invest in a gaming platform to earn and focus on p2e market size, growth, economy, opportunity, contribution or more, be sure to scroll. This blog has listed every aspect of the Play to Earn game economy.
Here you will understand:
- P2E market size,
- Growth of the P2E market,
- P2E economy,
- P2E business opportunities &
- P2E business model
- In the USA, 13.3% of men and 5.6% of women have adopted the p2e platform.
- A global trend shows the popularity of the platforms as 34% of respondents have played on p2E platforms, 29% in Hong Kong, 27% in the United Arab Emirates, while France has gone from 13% to 29% and Spain from 8 % to 17%.
- Top platforms like Axie Infinity have 2.7 million monthly active players, DeFi Kingdoms has completed 8.14 million transactions, and Gods Unchained can generate $6.46 billion in revenue.
P2E is one of the most exciting gaming platforms and is expected to reach $3,618.4 million by 2028. The most common reason is that P2E platforms are highly targeted by countries like;
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- South America (Brazil, Argentina, Colombia, etc.)
- North America (United States, Canada and Mexico)
- Middle East and Africa (South Africa, United Arab Emirates, Saudi Arabia, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
In addition to dividing p2e gaming trends by region or nationwide, another factor streamlines gaming activity. It includes categorizing games based on game types such as shooters, action , sports, role-playing and more. Among all shooting games with 3D visuals have the greatest impact on gamers. The platform has multiplayer features, attractive characters, weapons, powers, etc.
Major Industry Players
There are a few players who are focusing on adopting virtual reality technology to broaden the horizon. These are:
- Microsoft Corporation
- Nintendo Co., Ltd (Kyoto, Japan)
- Rovio Entertainment Corporation (Espoo, Finland)
- Electronic Arts Inc (California, USA)
- Sony Group Corporation (Tokyo, Japan)
- Bandai Namco Holdings Inc (Tokyo, Japan)
- Activision Blizzard, Inc (California, USA)
- The Sandbox (SAND): Sandbox is a virtual planet owned by a decentralized community with a trading volume of $395,160,793. Of a total of 3 billion SAND coins, 1.3 billion are in circulation.
- Axie Infinity: With a trading volume of $178,985,467, the platform circulates a supply of 82 million AXS coins from 270 million.
- STEPN: a platform with a trading volume of $254,186,839 and a circulating supply of 600 Million GMT.
- WAX (WAXP): A platform created explicitly to make e-commerce transactions faster, easier and more secure and a circulating supply of 2.1 billion WAXP coins.
- Radio Caca (RACA): Native token platform of Universal Metaverse circulating supply of 300 billion RACA coins from 431 billion.
The P2E gaming industry has grown exponentially over the past few years. Here are some latest stats showing her:
- The blockchain gaming industry grew by 2000% in the last year compared to the first quarter of 2022.
- The blockchain attracted 1.22 million unique active wallets in March 2022, which Axis Infinity is responsible for.
- Until mid-2022, the NFT market is expected to enjoy a cumulative capital of $10.5 billion.
There are exciting games to earn gambling opportunities that budding entrepreneurs can take advantage of and generate income. These are:
A virtual world gaming platform where users can interact with other players to play and earn rewards. Some popular platforms include Decentraland, Alien Worlds, Sandbox, etc. These platforms are facilitated by virtual reality (VR) and augmented reality (AR) headsets.
NFT-based trading cards work like physical trading cards. These are powered by blockchain technology like Ethereum, Solana, Polkadot or others that help create tradable assets with smart contract gestures. Some popular p2e platforms include Gods Unchained, Sorare, Splinterlands, etc.
Role-playing games (RPGs)
Role-playing game is a game developed with unique characters, features, skills and weapons to complete a given task. Players can enjoy a better experience and more powers by using non-fungible tokens. Some very popular RPG platforms include Axie Infinity, Blankos Block Party, etc.
It’s time to understand the major players in the Play-to-Earn NFT Gaming platform;
- The sandbox
- Sky Mavis
- Alien Worlds
- raging gods
- Dapper Laboratories
- Dacoco GMBH
- So rare
- gala games
- Exploded Earths
- DeFi Realms
In the world of p2e gaming platforms, there are different types of game models that are becoming more and more important for companies. Let’s check;
pay to play
As the name suggests, pay-to-play is a gaming platform where players must pay before playing or downloading. Users can only access these games if they have subscription packages or pay fixed monthly subscriptions. While playing the game, users can earn rewards or enjoy subscription discounts on their next activation plan. Basically, redemption in subscription is based on how engaging the game is or ready to attract new users compared to other platforms.
free to play
As the name suggests, you don’t have to incur any download or game fees to enjoy a free platform. These games are free to play, but users have to pay some fees to take advantage of the game’s features, weapons, costumes, and powers. Businesses can also earn through in-game advertisements. This business model is very popular among others and allows users to generate 80% of their income. Some of the very popular gaming platforms include Fortnite, Apex Legends, PubG, Valorant and others.
Play to win
The platform is a recent addition to the gaming world that rewards players for playing and participating in new gaming activities with real money. Due to the platform’s huge popularity in the crypto world, games like Axie Infinity, Decentraland, Sandbox, and Gods Unchained are blowing gamers’ minds in the Web 3 space.
Play and win
Like play to win, play and win games are new business models that focus primarily on the enjoyment of games and effort and results. The main objective of the game is to enjoy healthy wins and winnings thanks to the game economy and blockchain technology.
For those considering developing a p2E gaming platform, here we have details defining the key development factors.
- Build the game to win NFT game platform, learn about product type, application, market overview, market analysis, opportunities, risks and driving forces.
- Analyze the play-to-earn game with details of profit-generating strategies, main business, sales, price, price, market share, etc.
- Set a clear business display picture in a competitive situation for sales, revenue and play to gain NFT market share and global sales.
- List market details by manufacturers, application types, region of launch platforms such as Europe, Asia, Middle East & South, America, etc.
- Understand development costs, such as required tools, software, and development process.
- Get full channel distributor details. Traders and Merchants.
Opportunities to win by playing games open up innovative avenues for learning and playing together. In this race, popular blockchain technology has helped create gaming guilds and help new players to play and win game.
The brand new approach to structuring the platform has set DAOs to support new players as they can play without revealing an identity. Attractive in-game assets allow you to enjoy in-game features and earn in-game rewards.
As defined above, over 3 million people are already engaging with Play to earn a platform and take advantage of reward opportunities. Yet many studios and developers around the world are hesitant to incorporate blockchain technology. You’d like to know why ? They believe blockchain is a slow backend for storing assets and difficult to share savings and assets with other games. Notably, it is difficult to integrate blockchain technology into existing games.
On the other hand, major game studios such as Ubisoft have already started integrating blockchain-based assets into the system. This represents the bright future of playing to win games.
Like free-to-play and subscription-based platforms, play-to-earn games are also prominent in the digital world. And should become a new standard in the gaming industry.