P2E Games and its Impact on Metaverse and Metaverse Economy.
The Play-to-Earn gaming model has taken the gaming community by storm as the incentive it offers hasn’t been done by any model before. Play your favorite games and earn real money, who doesn’t want this to happen? Right?
The community not only holds the potential to revolutionize gaming, but it also has shown the ability to instill changes in the metaverse.
P2E games will be the flagbearer of NFT’s and the metaverse, but how? The concept of buying virtual content in video games isn’t new, but P2E games make virtual goods NFT’s which make a player its true owner with rights of trading and selling it for real money.
Moreover, a game token or virtual currency also stores the value in it which can be traded or sold in marketplaces. But how do the developers make money? Take for example Axie Infinity, it charges a 4.25% fee or commission for every trade made on the marketplace.
Another challenge Axie Infinity, a P2E game, has started facing is the amount of money being taken off the game’s economy by cashing out. The economy crashes if everyone starts to extract value from the game instead of participating in the marketplace.
The interoperability concept of the metaverse and video games also poses a massive challenge and seems exceedingly difficult to implement. The inoperability is necessary for a successful metaverse.
Despite all the hype and passionate community of crypto and P2E games, the P2E approach couldn’t gather appreciation from a large chunk of the video game community.
P2E is in nascent age and continues to evolve several companies see it as the future of gaming while others are overwhelmingly cautious about it.
Gaming News Of Video Game Consultant;
Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play-to-Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.
Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.
If you want to stay up-to-date of my daily game news, then follow me on Google News.