P2E: Emerging Game Modes in the Metaverse

In 2008, a true story.

During college, the brother who slept in my lower bunk played a computer game – “Blood Rivers and Lakes” day and night, and neither the final exam nor the postgraduate entrance examination could stop him. In the end, it was a gun in the game that made him change his ways. Because he sold that piece of equipment to a Beijinger, the price was as high as 3,000 yuan, and he was at ease for a long time.

P2E: Emerging Game Modes in the Metaverse

bloody rivers and lakes

In 2021, two real and virtual stories.

During the epidemic, Metaverse and NFT created two stories in the technology circle and the encryption circle: Metaverse concept stocks were unrecoverable in China; digital collections repeatedly broke transaction records in foreign encryption markets.

It is said that the starting point of the Metaverse is games. In fact, the virtual and real worlds have been combined and entered the mainstream media in the form of games, that is, Play to Earn.

P2E is the abbreviation of Play to Earn, which is often translated as ” earning while playing ” in China. It is an emerging game mode that is widely known in the crypto circle and has grown significantly in the past 12 months.

It essentially provides real financial incentives for gamers – whoever contributes more to the game world gets more monetary incentives. This revolutionary model has not only driven the development of the gaming industry, it has also changed the lives of many people.

The Philippines under the documentary, and the crab

Last summer, a documentary titled “PLAY-TO-EARN: NFT Gaming in the Philippines” brought blockchain game Axie Infinity to fame, and also let YouTube users know about the small Southeast Asian country of the Philippines.

P2E: Emerging Game Modes in the Metaverse

PLAY-TO-EARN: NFT Gaming in the Philippines

This Pokémon-inspired game has a simple setting: players buy three small pets (Axie, A crab) with virtual currency, use them to breed new pets for battle, and then sell their extra pets to other people gain.

P2E: Emerging Game Modes in the Metaverse

Axie Infinity

Today, the official website of the game introduces its daily active users to 2.8 million.

The crab itself is a kind of NFT. The value of rare varieties is as high as millions of dollars, and even ordinary varieties can be sold for several hundred dollars. In addition to the crabs, players can also purchase virtual real estate in the game. Similarly, each piece of land is an NFT.

When Filipinos can earn $3,000 a month during the epidemic (which is far more than what they can earn from work), “earning while playing” is completely popular on the Internet, and Axie Infinity also needs a higher threshold to start the game.

What followed was the launch of more free games, which made the Nuggets rush. Below are three of the best free P2E games in 2021.

  • Gods Unchained, card game

P2E: Emerging Game Modes in the Metaverse

Image source: official website

  • Splinterlands, card game

P2E: Emerging Game Modes in the Metaverse

Image source: official website

  • Chainsmonsters, Massively Multiplayer Online Role Playing Game (MMORPG)

P2E: Emerging Game Modes in the Metaverse

Image source: official website

Governments react differently 

A coin always has tails.

According to South Korean media reports, the South Korean government has moved to block the release of new P2E games and asked Google and Apple to take existing games off the shelves.

South Korea’s Ministry of Culture, Sports and Tourism’s Game Management Committee (GMC) has written to Google and Apple to bar app developers from registering in app stores if they don’t pass an age rating from the GMC rating agency.And because of the high-yield nature of most P2E games, they are barely rated.

my country also introduced game-related policies as early as last year to promote the development of industry norms.”Honor of Kings” was named and criticized, and games with a “gambling” nature such as P2E are even more unlikely to be spared in the future.

However, this does not affect our research on overseas industry trends.

The road ahead is broad 

Today, it is estimated that over 3 billion people worldwide play some form of video game. The industry is worth more than $330 billion and is aiming to break the $5 trillion mark by 2028.

According to Deloitte’s 2022 Technology, Media and Telecommunications Industry Forecast, the vast majority of 14-24-year-olds in the U.S. rank gaming as their favorite form of entertainment. I am afraid that this is the case among young people around the world. Almost all people in the industry believe that games are the closest to the Metaverse and may become the future of the content industry.

labour market 

Another hot spot for Axie Infinity is Venezuela, the Spanish-speaking country with the second-largest player base in the world – where the official currency is considered more volatile than Axie Infinity’s in-game currency, and the country’s inflation has made the domestic currency a dime not worth.

Axie Infinity has been successful in the Philippines and Venezuela as it provides a reliable source of income in an economically unstable place where residents cannot find stable jobs during the pandemic. For these places, P2E games allow residents to not only get rid of the fatigue of daily life, but also get a reliable income to support their families. For the labor market, this is an employment model with an incredibly bright future in less developed regions.

“Earn while you play”, what a wonderful work model. As an ordinary player, remember not to venture into the crypto market, remember that benefits and risks coexist, and always be vigilant against legal and economic risks.

Finally, hopefully we can “play and earn”.

References:

https://restofworld.org/2021/axie-infinity/

https://coinmarketcap.com/alexandria/article/top-free-p2e-nft-games

https://www.thepowerbrunch.com/post/play-to-earn-how-the-next-generation-of-gamingprovides-real-lifelines-for-its-players

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/p2e-emerging-game-modes-in-the-metaverse/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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