You can expect the total valuation of the gaming industry to cross the threshold of $200 billion by 2022. On a global scale, there are over 3 billion gamers in a shared ecosystem. At some point in your life, there is a good chance you’ve had the chance to play a console, PC, or mobile game.
Self-Reinforcement Incentive
Today, gamers spend their valuable time mastering specific skills and building reputations. Gamers depend on an incentive of self-reinforcement that allows them to step up their game. You can state that this is the essence of web 2.0 gaming.
Since 2020, there is a new emerging ecosystem for gamers that might reshape the gaming industry as we know it. In most cases, gamers feel reluctant to adopt new changes. As web 3.0 gaming enters the picture, gamers can now adapt P2E or play-to-earn approach. Since it is a major shift from the traditional style of gaming, some gamers have been slow to adopt these changes.
Gamers Don’t Like Miners
One of the main reasons several gamers don’t want to shift to P2E is due to the role of miners. In fact, gamers have had consistent hate towards miners since the start of the pandemic for a couple of years.
When the pandemic was in full force and lockdowns became the new normal, the prices of crypto assets skyrocketed. Remember, crypto hype ultimately stems from high GPU processing. But more demand managed to increase GPU prices and gamers were not happy about it.
P2E Ad Placements
Another reason for gamers to dislike play-to-earn movement is endless ad placements within. In the past, Axie Infinity had allowed Philippine gamers to earn way more than their average minimum wage.
This, in turn, increased the popularity of P2E throughout the country. But gamers are usually unaware that their revenue is moved from new gamers. It is no wonder many hardworking and committed gamers undermine the concept and movement of P2E.
P2E Movement and the Role of NFTs
When it comes to play-to-earn movement, it is hard to overlook the narrative of NFTs. In fact, trading NFTs is an essential part of the play-to-earn movement. Old school gamers, however, believe that it is just another bubble that drives value straight from the crypto space. Web 2.0 gamers also believe that the play-to-earn largely depends on luck.
This, in turn, makes it more difficult for old-school gamers to adapt and embrace the P2E movement. But the fact of the matter is that web 3.0 gaming functions around NFTs. And if the gamers fail to see the value of NFTs, it becomes a major reason to avoid crypto-based gaming altogether.
