Thread by @IdeasInAJiffy

1/ Play-to-Earn (P2E) games: The fastest adopted segment in crypto

Thread on where I give a brief intro to the segment, talk a little about the current leader in the space (@AxieInfinity) and my thoughts on where I see the segment heading towards.

2/ What are play-to-earn games?

They're games powered by blockchain technology which allows for seamless real world trading. The in-game rewards that you earn are all on a blockchain and you're able to buy/sell in-game rewards on an exchange and swap it for money.

3/ Imagine playing WoW but this time the items you obtain are sold in the auction house for in-game gold or ETH, with the in-game gold itself also being a cryptocurrency that's listed on exchanges. You're able to and allowed to sell/transfer the crypto assets you earned in-game.

4/ This flips the dynamics of gaming. Users own their own in-game items (the items are NFTs) and any value created in the game can be easily transferred into the real world. Allowing the value that is generated from the game to have real world monetary value.

5/ Compared to the current situation where the game devs own everything in the game and earn by trapping economic value generated from the game within the game. Real world trading is usually against the ToS in order to keep the flow of value unidirectional towards the devs.

6/ The current leader in the space is @AxieInfinity. With the game currently having more than 1.3m daily active users and generating revenues higher than Ethereum itself. Axie earns from transaction revenue whenever players sell axies on the marketplace.

7/ Players earn $SLP by playing the game and $AXS if they're highly ranked in arena (PvP mode). The SLP that players earn is listed on multiple exchanges and thus players can sell it for other cryptos or cash out into fiat.

8/ For the first time, players are able to get a share of the monetary value that gaming has and provides. Players are thus incentivised to play more and devs are incentivised to make the game better to attract more users to increase transactions. Creating an alignment in values.

9/ People in the Philippines are playing Axie to support their families and I'm sure this is the case in other similar countries. The game provides for people where governments and institutions have failed.

10/ The nature of jobs has always evolved over time. 10 years ago earning a living streaming or being a competitive gamer as weird to many and didn't seem like an actual job. Today, most people understand the value and even aim to carve out a career in those fields.

11/ The same thing is happening here and this trend will only grow bigger and bigger. P2E games are here to stay and while individual games always come and go, this segment of gaming is only just getting started.

12/ Developing nations will adopt it out of necessity and the opportunities they provide. Developed nations will adopt it simply cause the games are fun and who doesn’t wanna have full ownership of the items that they’ve spent hours to obtain.

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