TRENDS TO WATCH OUT FOR IN P2E GAMING
The use of emerging technology has long been explored in video games. The joy of gaming is frequently one of the most successful methods to spark the public’s interest in new technology, whether it be a home computer, smartphone, or virtual reality hardware device. The same holds true for blockchain technology and digital currency.
Most people worldwide were restless and bored during the pandemic and lockdown. With added time on their hands and a desire for entertainment and socialization, the road for play-to-earn games, which offered entertainment with a source of income, was seamlessly paved. Play-to-earn model is gradually becoming a part of popular culture, with the player spending 8+ hours per week playing games online. Largely fueled by these emerging advancements, P2E platforms’ revenues are estimated to increase by $ 1 billion this year, with year-on-year growth priced at 14.5%. According to industry statistics, such games will likely see an increase in implementation and adoption this year, with P2E gaming being the most anticipated trend to take the lead.
By tying game economy with real-world finance and allowing for the ownership and transfer of digital assets, developers have altered the conventional dynamics and drawn in a sizable audience. Because of this, a completely new class of users, distinct from typical gamers, has joined the crypto sector. In the last two years, the value of assets owned by decentralized finance applications increased 1000 times to $250 billion, while the metaverse index has increased by 750 per cent since June 2021.
The P2E sector, which has a valuation of about $32 billion, contributes close to 20 per cent to the gaming industry’s already impressive $175 billion worth. The combination of cryptocurrency and P2E gaming will undoubtedly increase this percentage. The crypto market, estimated to be worth $2.5 trillion, has the potential to open up countless options for the gaming industry.
P2E gaming will unquestionably rule 2022. Through financial incentives, these games provide players with a reason to participate and a sense of purpose, which draws players in and encourages cooperation, competition, strategy, and the development of close bonds between players.
A few aspects become evident when analyzing crypto advancements: First, blockchain technology offers a very adaptable framework for P2E games that enables players to own virtual goods and establish economies both online and offline. A trend we will see in many games is the adoption of NFTs and the interoperability of blockchain games. Second, the popularity of digital asset projects is growing as a result of the opportunities they provide for investors and gamers by creating an ecosystem in which those who are not keen in playing games can invest and offer resources for players, who then have the opportunity to receive rewards for their gameplay. Finally, the upward trends indicate that now is the ideal time to take the initiative and join the crypto-P2E wave. The inaugural game from NFT Marketplace Gamepay, “Chickey Chik,” is an excellent example of this. Platforms like Gamepay enable their users to support themselves and develop by making money off of, trading, and exchanging digital assets in the game industry. Gamepay provides its players with an exclusive market where they may purchase and sell in-game items in the form of NFTs with first-class ownership rights guaranteed by royalty of 10% of the transaction price. Additionally, it offers an NFT lending feature that enables rentable NFTs, improving the users’ income potential. Additionally, Gamepay offers a guild platform where users may connect with one another and share information about games or effective techniques to make money in-game without facing any budget constraints.
Profit-sharing communities
The first trend to keep tabs on in 2022 is initiatives that are looking to utilise the interest in nonfungible tokens to generate profit-sharing models and invest in the market gains of NFTs. By offering a forum for investors who are not keen on playing games to invest and by supplying NFTs for players who couldn’t otherwise afford them, these businesses seek to give opportunities for both gamers and investors.
In a profit-sharing approach, an investor would pay for the comparatively expensive NFTs required to play specific games, such as Chikys for Chickey Chik. Then they provide these NFTs to players who otherwise couldn’t afford them but are capable gamers and enthusiastic about the game. Then, as a result of their efforts, players receive rewards, which are later converted into profits for the investors who initially funded their NFTs. From there, gamers receive bonuses for their play, and investors receive a cut of the revenue.
Through its Gaming Guild, multi-chain gaming platform Gamepay facilitates scholarships in addition to offering a marketplace. Scholarships are provided to players so they can begin the game without financial restrictions and enjoy the advantages of using the option to borrow high yield NFTs. The Gamer’s Scholarship Program provides gamers with complete money so they can play with the guild and then split the rewards. Additionally, players can digitise and trade their Chickey Chiks and a variety of other in-game items as NFTs.
Gaming Communities with Peer and Education Support
Another growing trend are communities that concentrate on educating its members on how to make money through gameplay.
Learning blockchain gaming can be difficult for beginners, and some games have entry fees that limit some players from participating. Due to the difficulty of the learning curve, new players may lose interest, which eventually stops the community from expanding. Fortunately, forums solely focused on instructing new members on effectively earning money via gameplay are expected to become popular in 2022.
The P2E gaming community now has access to new protocols that invest in apprenticeship programmes. Support for education may be provided in the form of private coaching sessions or video-based courses.
In order to help players learn and earn more, Gamepay’s guild offers a platform for information sharing, financial assistance, and advice regarding gameplay and the various aspects of scouting in games. Through social interaction, it facilitates a shared gaming experience.
Combining DeFi with P2E games and NFTs
The launch of ventures and investment funds that seek fusing elements of decentralized finance (DeFi), NFTs, and P2E gaming is a third trend that will emerge in 2022.
NFTs are much more open to different use cases than P2E games, which primarily cater to a section of the gaming market. NFTs can be used in industries besides gaming, like real estate and arts.
NFTs can be used by any business that needs immutable ownership proof and transparency, and a decentralized financial network can better facilitate these NFT transactions without the exorbitant fees and needless red tape of conventional brokerage houses and banks.
Additionally, DeFi integration with P2E gaming and NFTs enables fractional ownership of some highly valuable assets, such as hotel chains and media copyrights.
Direct links between NFTs and blockchain technology exist in P2E gaming. Knowing the next trends can help you get ready for the growing technical complexity of these intricately connected technologies, whether you’re an investor or a gamer.
More importantly, by knowing the trends influencing the pricing of NFT and cryptocurrencies, you can uncover more ways to earn from these gaming activities.
Considerable developers and publishers
The increased involvement of well-known developers and publishers in games with blockchain and NFT aspects is another trend that 2022 is likely to witness.
After witnessing the adoption of blockchain across numerous industries, major game creators are beginning to understand the power of blockchain and cryptocurrencies in gaming. Soon, you will see huge organizations getting involved in the blockchain space.
The transition to NFTs and crypto assets could help conventional game developers and publishers get new clientele while also offering enticing new items to current customers. Market participants have identified these opportunities and noted that blockchain gaming has become a big industry.
About us:
Chickey Chik is a Free-to-Play Play-to-Earn multi-language NFT-and DeFi-based game powered by Gamepay that enables anybody of any age to play and earn an income.
You can also start buying NFTs from Gamepay’s Marketplace by registering using your Mail/Wallet TODAY !!
