I dont know if P2E would really be still relevant as of today which considering that you would really be still needing that huge capital or investment you would be
needing to put up before you could earn some peanuts then i doubt that this one would really be getting some attention.
Im seeing those NFT monkeys on the image shown above. Are those part in real game or not?
It's not only about the initial capital, we have seen that the Play 2 Earn model was a complete failure with the most popular game Axie Infinity. These games may be profitable for the players in the short term but in the long run, they find it hard to remain profitable.
We do not know if the Play to Earn model may become popular again once again when we are in the bull market (as most projects and hypes are created during that time) but it will be short lived. People who have been lost capital in Axie game may never be willing to invest in other P2E games.
Yeah, but you should check GEO in what countries was popular P2E gaming: the Philippines lost the most agree, but there are numerous upcoming P2E games of AAA level upcoming on a market and top tier studios are creating web3 gaming department like sony, so Japan will be involved in a crypto rally for the next run and I think it's still not a big market. Philippine economy is small enough.
I am not saying that play to earn model is dead, rather this needs to be transformed into a better algorithm which may bring long lasting benefits for the players involved.
No doubt the potential for P2E is enormous but the trust for the games needs to be revived so that players globally can join this model. If some of the top tier companies like Sony Ventures jump into Web 3 gaming, it will give an enormous boost to the industry. We may see exciting developments ahead as there are a lot of opportunities for growth in this market. The Play to Earn model needs to be evolved on a global scale.
They will definately be more sophisticated for developers and easy to play for gamers.
29 out of 40, or 72.5% of the top video game companies by market cap, have ventured into web3 to varying extents. This includes directly investing in web3 gaming projects, blockchain game development, or hiring for blockchain-related positions. Yet, only seven, or 24.1%, of the 29 are in the midst of developing blockchain games: Take-Two Interactive, Nexon, Bandai Namco, Konami Holdings, Krafton, Square Enix, and Ubisoft.
I am not saying that play to earn model is dead, rather this needs to be transformed into a better algorithm which may bring long lasting benefits for the players involved.
I do not expect that P2E games can succeed in achieving long-term benefits for players, simply because, like most projects that appear in Crypto, their goal is to achieve quick profits in the initial periods, and after they succeed and make a lot of money, their interest in the game and the players decreases.
I do not want to be pessimistic, but this is the reality that we have witnessed over many years. The game or project appears with full force at the beginning, such as Axie Infinity, as you mentioned, and then after it achieves tremendous growth, the growth of the game begins to slow down, then decline, and perhaps fail completely in the end.
Don't forget the Squid game as well, which achieved tremendous growth and then collapsed within hours after the game team turned into a scam.
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