Play-To-Earn Gaming: Future of the Digital Economy

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MetaGamingGuild

4 min readMay 28, 2022

As the gaming industry becomes more decentralized, play-to-earn (P2E) games have amplified the opportunities for gamers to have a digital identity, assets, and ownership.

This is how modern play-to-earn gaming can bring new paradigms that can be applied to a wide range of new digital environments and value generation methods. Such P2E games are also at the forefront of a contemporary trend: the growing fusion of the physical and digital worlds.

Opportunities for Global Gamers

Nearly 3 billion people from all over the globe play video games now, and professional gaming has spawned a thriving industry that has provided enormous possibilities and income to active players.

The finest among them are classified as athletes, working as salaried team members, sharing prize money at events, and garnering expensive sponsorship deals. Others also monetize their live streams by playing games on platforms such as Twitch or YouTube Gaming.

With the emergence of so-called “play-to-earn” games, this historically custodial arrangement of ownership and profit-sharing may be on the verge of upheaval. This sort of video game allows players to ‘really’ earn and own digital assets, which they can then sell at their leisure outside of the game.

Establishing faith in the permanence of their digital presence and goods — as well as their economic robustness — is critical if individuals are to devote significant time, attention, and personal investments to digital environments. Early implementations suggest that this is possible with blockchain technology, which can secure digital trust and decentralized storage of value via encryption.

Blockchain Technology + NFTs

Blockchain technology is already being used in a variety of industries, from finance to art, and video games are no exception. Blockchain technology, including non-fungible tokens (or NFTs), is used as the cornerstone for value creation in play-to-earn games.

In a nutshell, a non-fungible token is a digitally secured claim of ownership for a single, non-transferable digital asset. NFTs can take numerous forms in virtual environments, including characters, items, land, cosmetic customizing options like digital clothing, and more. People ‘earn’ the most valuable objects by excelling at the game, and they may then sell them for real money on their own terms.

The actual revolution is in the decentralized integrity and security of these digital goods, which can now transcend the traditional proprietary, custodial ownership and discretion of a firm or even the government for the first time. Instead of relying on the permission or rules of publishers or other third parties, in-game resources from play-to-earn games can be freely sold on marketplaces both within and outside the game.

The Advent of Play-to-Earn Games

Numerous communities have recently sprung up, demonstrating the potential of play-to-earn games in fostering a new economy. A video game called ‘Axie Infinity,’ for example demonstrates that this is more than a pipe dream.

The popular play-to-earn ecosystem has grown in popularity in the Philippines and Venezuela, going from 4,000 to 2 million daily active users in just a few months. The revenue that participants in places like the Global South can earn in the digital realm is significantly greater than what their local physical economy can provide.

Today, thousands of play-to-earn games have popped from all across the globe, competing for a large user base, dreaming to follow the footsteps of Axie Infinity.

Gaming Guilds & Scholarships Programs On Offer

Because of the massive popularity of play-to-earn games, gaming communities that offer live scholarship programs to active gamers have opened new doors to ordinary people who want to participate in the emerging P2E gaming trend.

One good example is the MetaGaming Guild (MGG), which enables and educates players in emerging economies to participate in play-to-earn games without upfront costs, earn in-game assets, acquire NFTs and enjoy a competitive profit-sharing every time they play-to-earn. If you are keen to know more about How To Become A Scholar at MGG, then head over to this blog.

To date, MetaGaming Guild has attracted significant investments and has grown to be billion-dollar company in a matter of months, overvaluing many of the most popular video games.

Play-to-earn games and their surrounding platforms are examples of frictionless economic opportunity and meritocratic participation across geographies by globalizing the market for game-based NFTs in this way.

Written by: Angelica Marie Encila

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About MetaGaming Guild

MetaGaming Guild (MGG) is one of the world’s fastest growing GameFi guilds who’s on a mission to make game finance fairer for the masses.

MGG buys the best Non-Fungible Tokens (NFTs) from gaming startups and rents them out to a community of players through the scholarship program. With this, MGG scholars can access games without upfront costs, access early stage game tokens like VCs, and deploy their NFTs to automated yield.