June 18th Although P2E games are very popular among crypto players, in the wider game field, there still seem to be many “pure players” who scoff at them. Why is this so? Let’s take a closer look together.
Has anyone never played a game on a phone or computer? I believe that only very few people will give an affirmative answer. Then the following set of numbers is not so shocking: In 2018, the valuation of the entire game industry was about 140 billion US dollars, and by the end of 2022, this number is expected to exceed 200 billion. After all, the number of global gamers has reached half of the world’s population – 3.24 billion. As long as everyone contributes a little bit, it is difficult for the game industry to grow.
As for why the popularity of the game is so high now, I believe it is entirely determined by the fun of the game itself, not the player’s ability to exercise his reflexes. Usually, once players are engaged in a game, it is common to spend a few hours, and they will try their best to achieve a certain result. Some game masters even have their own fan base, and fans are very keen to watch the masters perform, which feels like they are playing the game themselves. At the same time, game players are also enjoying it. They are constantly self-reinforcing under the encouragement of fans, and they are more and more brave in the game. However, the phenomenon mentioned above is limited to the Web 2 gaming world. In 2020, with the birth of Web 3, a completely different gaming ecosystem has emerged.
Despite the promise of the Web 3 gaming ecosystem that gamers can earn money while playing, many gamers still resist the new model, claiming they “hate” the change. So what is the reason behind this, let us explore together.
Gamers are hostile to crypto miners?
Starting in 2020, with the widespread spread of the new crown epidemic, many businesses were forced to close, resulting in many people having to work from home. Gradually, more and more people began to find cryptocurrency mining (especially both BTC and ETH) very profitable. As a result, a mining boom swept the world, causing the BTC price to soar from $6,000 in March 2020 to over $55,000 a year later. And this nearly tenfold surge has further boosted the market’s hype for cryptocurrencies. Of course, the butterfly effect brought about by the mining boom is far more than that. Since cryptocurrency mining requires GPUs, and the insufficient supply of GPUs has led to their prices rising, this offends the interests of players who also need to use GPUs to play games. .
As a result, the conflict of demand for the same product has caused gamers to be hostile to people like miners, and thus planted the seeds of their hatred for the blockchain. However, from the current point of view, with a series of events such as the slump in the prices of BTC and other cryptocurrencies, the issuance of mining bans in China, and the transition of Ethereum to Proof of Stake (PoS), the price of GPUs is expected to continue to decline globally ( See below).
Next, let’s analyze the second reason why gamers hate miners. In fact, many P2E games that used to be under the banner of “playing and earning” have now become games that require players to pay to be eligible to play, and this may be the main reason why the popularity of the former king of chain games, Axie Infinity, has plummeted. . You know, gamers in the Philippines used to earn a very substantial amount of money from playing Axie Infinity games, far exceeding the minimum wage in the country. However, the benefits are now only available to those who get into the game early on, and the situation is much tougher for newcomers. Indeed, now if you want to become a top player in this type of P2E game, you have to spend a lot of money to buy the NFTs that need to be used in the game, and the method of accumulating experience through hard work has long since become a thing of the past. As a result, hard-working gamers don’t like such a transition very much, and as a result, their hard-earned time and effort into the game is wasted.
As for the third reason why gamers are hostile to miners, it may come down to NFTs. NFTs have always given people a get-rich-quick impression, especially the NFT bull market in 2021 makes people believe that investing in NFTs is a get-rich-quick channel, and this pure desire to get rich can be said to have driven everything in the crypto space and achieved This crazy hype boom. Frankly, no one likes speculators, and gamers are no exception. Especially for NFT-based Web 3 games, if even gamers can’t like NFTs, it’s only natural that they hate encrypted games.
As we all know, the promise of blockchain to the majority of users is to decentralize power, so Web 3 games should also transfer game dominance from centralized entities to gamers through NFT. Regrettably, however, this promise never materialized, and NFTs used to participate in games have now become a tool for game developers to raise funds. One thing game companies have to understand is that gamers are not investors, and if they want to raise money by selling NFTs, they should do it right after the game launches. Therefore, the right approach should be to build game products first, and then provide token incentives for players. Besides, just looking at the shoddy picture of the current Web 3 games, aren’t the Web 2 games in the hands of gamers delicious?
The last major reason for the unpopularity of Web 3 games is probably their overestimated value. Sony is currently the world’s highest-grossing video game company, with annual revenue of about $25 billion. Secondly, Activision, Ubisoft, Tencent and Nintendo together have a total of about 30 billion in revenue. Even though the combined market cap of all these big game companies is about $1 trillion, it’s interesting that almost every game we’ve ever played is made by those familiar studios.
It is worth mentioning that the governance token AXS of the blockchain game Axie Infinity was valued at $40 billion at its peak, which is completely comparable to the current market value of Activision Blizzard ($60 billion). But you must know that Rome was not built in a day. Activision Blizzard can achieve such an achievement after years of hard work, which is unmatched by blockchain games. From this point of view alone, the overvalued Web 3 gaming ecosystem has also succeeded in angering loyal fans of established gaming companies.
Although users are not ready to switch from traditional games to P2E games at present, and we have also found the reasons why these “pure gamers” do not like P2E games, this does not mean that there is no future for Web 3 games. In fact, in the vast majority of cases, gamers don’t know what they really want, maybe they have no interest in the Web 3 ecosystem right now, but when all the infrastructure is in place, their thoughts are It may change, just look at people’s attitudes towards Defi in 2018.
To be honest, it takes a few months or even years to build a complete ecosystem. What is gratifying now is that many blockchain game companies have begun to actively build infrastructure and develop various solutions for users. They hope to be fully prepared before the next bull market and seize the best time, said You may be the next king of chain games.
Part of this article is compiled from hackernoon
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/why-pure-gamers-dont-like-p2e-games/
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