P2Es Market Situation
Play-to-earn games are providing an interesting and experimental foundation for a new generation of games and gaming experiences in general. The idea of decentralized in-game assets, which can be truly owned by players and which can be traded on secondary markets outside the game, can both enhance the way existing games are developed but also give rise to entirelly new concepts.
Also the idea of monetary income from playing a game creates big interest in P2Es: People can earn a living from doing what the love, i.e. gaming. We have already seen a wide adoption of P2E games in the past few years, especially in countries like the Phillipines, where people have quit their jobs during the pandemic and switched to "full-time playing" Axie Infinity instead.
Analysing the current market for P2Es we can definitely see a strong upwards trend, especially when looking at active users. Whereas certain games like Axie show much larger fluctuations in active users than for example Avalanche-P2E Crabada, we can see an overall upwards trend for almost every example we've found, with higher highs and higher lows.
"Mass adoption is underway, and major players in the gaming industry have begun to lay the groundwork for this new era of gaming." - Steven Walters, CEO and founder at Gallant Token
(Source: Forbes Magazine, https://www.forbes.com/sites/robertfarrington/2021/12/13/play-to-earn-gaming-is-driving-nft-and-crypto-growth/?sh=7c3bb26ec2dc)
"The fact that you can truly own a digital asset and then sell it in permission-less fashion outside of the platform where it was initially created is a game-changer." - Diego Di Tommaso, co-founder and COO at OVR.ai
(Source: Forbes Magazine, https://www.forbes.com/sites/robertfarrington/2021/12/13/play-to-earn-gaming-is-driving-nft-and-crypto-growth/?sh=7c3bb26ec2dc)
One should not forget that although P2E-like concepts have already been existing for decades in MMORPGs like World of Warcraft, it's mainly decentralization and the technological aspects that are new and so fueling the current boom in P2Es. As a result, the price movements and success of P2Es are still significantly influenced by the success of the underlying technology, namely NFTs and blockchain. Since the NFT market has seen a sharp increase in its total value within the past few years and is maturing more and more from its hype-driven beginning to actual utility, we strongly believe that NFTs will find even further ranging adoption in all kinds of fields, from sensible data like patient files to governmental voting systems, and the gaming industry of course.
Last updated
