Rise Of The P2E market And Why Is It Wise To Opt For A P2E Racing Game Now
P2E games have been one of the gamers’ favorites to make passive earnings without sacrificing their joy in their leisure time. The pandemic in recent times has become a catalyst for P2E games growth and market size expansion. Forcing people to stay indoors and cuts on their regular income have paved the way for them to adopt alternative revenue-generating systems. Thus the advent of P2E games became popular and widely accepted.
However, the first-generation P2E games were not able to captivate gamers due to the gaming genre being confined and the lack of monetization options. However, the web3 P2E games, which are also known as P2E 2.0, are widely welcomed among gamers. In addition, Web3 P2E games have also addressed both the shortfalls of first-generation P2E games.
How Web3 P2E Games Function Differently From Traditional P2E
The purchases, earnings, and other aspects of the P2E game have a web3 touch incorporating technological advancements like blockchain and NFTs in the ecosystem. On the other hand, traditional P2E games involve investments in fiat and other in-game asset purchases on which no user can claim immutable ownership.
The revolutionary web3 P2E game offers a wide range of revenue-generating options and immutable ownership over the in-game assets they own as NFTs, unlike traditional P2E games.
To put the functioning of an NFT gaming ecosystem simply. Those who desire to try out an NFT P2E gaming platform have to purchase in-game NFT assets from the NFT marketplace, which would be automatically integrated into the platform.
Once the player has got his hands on the gaming NFTs, he can start earning lucrative crypto rewards for in-game accomplishments and milestone achievements. Moreover, it is also highly possible that the NFT player holds to appreciate in value over time. In addition, to widen the revenue-generating scope if the NFT marketplace belonging to the gaming ecosystem supports renting, the NFT holders lend their NFTs to earn passive income.
What P2E Holds For The Future
The P2E market is one of the most promising markets in the Web3 space. In addition, the adoption and advancement of the metaverse can enable businesses in the gaming industry to provide an immersive gaming experience to gamers across the world.
In a recent market study from Globalnewswire, it is mentioned that ‘According to our researcher’s latest study, due to the COVID-19 pandemic, the global Play-to-Earn NFT Games market size is estimated to be worth USD 776.9 million in 2021 and is forecast to a readjusted size of USD 2845.1 million by 2028 with a CAGR of 20.4% during the forecast period 2022–2028.’
The P2E gaming sector reaching the colossal value in the near future will not only help the entrepreneurs and businesses in the gaming sector. Moreover, P2E game enthusiasts can also reap maximum benefits from the industry expansion.
According to CoinMarketCap, the current market cap for GameFi Tokens has reached more than 11 billion USD. Moreover, the estimated market growth in the market study will also enable the GamFi tokens market capitalization to reach new heights. This creates a perfect opportunity for gamers to adopt Web3’s new and upcoming P2E games in the market.
P2E racing games are one of the hottest trends in the market. Capitalizing on this emerging trend can be an effective way for gamers to make some easy money.
Upcoming P2E Racing Games In The Market
The below-listed upcoming P2E racing games offer a wide range of revenue-generating scope for the platform users.
RADDX Racing Metaverse
If you are a web3 gaming enthusiast, then I’m sure that you would have already known about RADDX Racing Metaverse. The game launch has created a huge buzz among P2E gaming communities for its immersive gameplay and exciting prizes associated with the NFT purchase. Ahead of the launch, Asia’s Largest NFT Marketplace, Jump.trade is offering ‘Guaranteed Gift Boxes’ containing prizes like Bitcoin, BAYC NFT, BNB, ETH, Mahindra Thar, Royal Enfield bike, and much more collectively with more than $200,00.
The users purchasing 5 RADDX loot boxes containing 2 car NFTs will gain instant access to the guaranteed gift box. Buying another 5 RADDX NFT loot boxes will gain you another chance to open another guaranteed gift box. Apart from the exciting rewards, the gaming platform is also said to support NFT renting to widen the revenue scope for gamers. In addition, the game also features digital metaverse land plots, which will generate revenue for you. The pre-book to get your hand on the car NFTs starts on March 10th, and if you are an existing Jump.trade user, you can pre-book your NFT on March 9th. The NFT drop starts on April 10th.
Scar Speed is another upcoming P2E racing game that P2E enthusiasts need to have an eye on. The gaming scope in this game is confined and has a similar gun equipped with weapons and battlegrounds. However, the game promises its own unique gameplay incorporation of PVE(Player Vs. Environment) and other hardcore PVP elements in the platform. The game requires players to purchase cars as NFTs to partake in the gaming ecosystem.
Race Kingdom is yet another new P2E racing game in the metaverse space. The game aims to reward the users with its indigenous crypto token named ‘ATOZ’. The game is available for Windows and Mac right now. Moreover, the gaming platform promises a futuristic metaverse racing experience for gamers across the globe.
Summing It Up
The P2E game market is one of the most promising markets in the web3 space. In addition, the incorporation of blockchain technology and NFT has also aided the gaming industry in overcoming the shortfalls of traditional P2E games. Racing P2E games being one of the hottest trends in recent times, it is wise for gamers to choose a promising P2E platform that has numerous revenue-generating scopes to diversify their revenue sources.