Play to Earn Games and what it tells about the new digital economy in the making.
There are more than 3 billion gamers around the globe that play video games. The game industry not only created a digital entertainment space but also provided opportunities to make money. Earn big bucks!
The industry has a lot to offer as it represents a whopping $336 billion industry span across software, hardware, entertainment, and intellectual property.
However, this economic model is on the verge of a massive transformation. The model that is now popular in the gaming industry is the play to earn model which many game developers have inculcated in new games.
Play to Earn Games
This model allows players to earn and own in the real sense the digital assets which they can sell for real cash outside of the game. The transactions and ownership are built on the decentralized storage of the value as well as keeping intact the digital trust.
This is achieved by new games in form of blockchain technology, and NFT’s that play role in the foundation for value creation. Two things are guaranteed in this new digital economic system; decentralization and security of digital assets.