Play-to-Earn NFT games continue to rise phenomenally in popularity after the unwavering success of titles like “Axie Infinity.” As such, developers in the United States and the United Kingdom admitted that they are either considering adding or have already included blockchain tech to the design of their games.
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AfroGames e-sports streamer Luiz Augusto Jr, aka AFG Sr, Madruga, prepares to go live playing the game Grand Theft Auto (GTA) at the streaming room of the NGO AfroReggae headquarters of the Vigario Geral favela, in Rio de Janeiro, Brazil, on May 06, 2021.
Play-to-Earn NFT Games
According to the report by Business Insider, the most popular and successful play-to-earn game today is “Axie Infinity,” which is one of the pioneers of the said gaming model.
To be precise, the trading volume of the said NFT game is already at a whopping $3 billion since it was first unveiled in March 2018. It is worth mentioning that back in Sept, it was only at around $2 billion.
Although “Axie Infinity” has been in the market for years now, the game only earned its phenomenal fame during the COVID-19 pandemic, wherein people were forced to stay at the confines of their homes.
However, in developing countries in Southeast Asia, such as the Philippines, Indonesia, and Malaysia, people found solace by earning cash that at some point even made it more than the minimum wage in their nations.
It is worth noting that play-to-earn NFTs allow their players to earn tokens by simply progressing in the gameplay.
Coincidentally, cryptocurrency also saw a meteoric rise during the COVID-19 pandemic.
Game Devs and Blockchain Tech
A recent study, which surveyed a total of 197 video game developers based in either the UK or the US, showed that 58% of them said that they are already planning to use blockchain technology, which play-to-earn NFTs or non-fungible tokens games use.
On top of that, 47% of the surveyed game devs admit that they have already integrated NFTs in their game design.
On the other hand, around 57% of the game dev respondents said that they are interested in including decentralized finance of Defi in their games, which are called GameFi.
Meanwhile, 61% of the game devs in the study said that the reason behind the integration of NFTs in the games that they are working on are both “more interesting gameplay” and innovation.
Business Insider also reported that the said study looking into the blockchain involvement of game devs was commissioned by Stratis. However, it was hosted by a market research firm called Opinium.
Read Also: Play-to-Earn NFT Game Updates Nov. 2021: ‘Chumbi Valley,’ ‘Journey to Godhood,’ and MORE
NFT and Gaming Giants
Nevertheless, even with the popularity of NFTs in games, Steam decided to ban such kinds of gameplay on their platform as it wants to avoid any regulatory scrutiny.
However, it is not the case with other gaming giants like Ubisoft and EA, which bare plans to enter the market, Cointelegraph and NotebookCheck report.
Related Article: Top 5 NFT Games You Can Play To Earn $100 a Day: ‘Splinterlands,’ ‘Lost Relics,’ and MORE
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Written by Teejay Boris
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