Playing games has evolved remarkably over the past few decades, transcending from simple pixelated screens to immersive virtual worlds that engage millions of players worldwide. With the emergence of blockchain technology, cryptocurrencies and decentralized finance (DeFi), a new gaming paradigm is emerging that shifts game development from a revenue-driven enterprise to a player-centric approach, where gamers become economic participants rather than consumers. This change, known as play and earn, enables a whole new generation of game developers to offer their audiences games that not only entertain but also empower them to participate in the metaverse economy.
The first wave of this revolution has already begun, with several games refactoring their priorities to create an economy that rewards player-driven engagement and verifiable ownership of digital assets. These games are often based on blockchain technology and non-fungible tokens (NFTs), enabling players to acquire a wide range of in-game items and rewards that can be used both within the game’s ecosystem and on external markets.
While this movement is still in its early stages, it has already attracted a sizeable audience. For example, Axie Infinity, a popular blockchain-based game, has reached over $1 billion in sales through its NFT-based trading and battling gameplay, and is poised to surpass even that impressive number.
However, the majority of the games in this space prioritize extrinsic rewards over genuine player engagement and do not provide players with the opportunity to invest their time into a sustainable gaming experience that can lead to real-life perks. A study by the gaming company Polemos found that more than 84% of players would be willing to switch their current favorite video game for a more engaging and rewarding experience that offered them tangible rewards they could use outside of the game.
The most promising new trend for this future of gaming is the emerging class of mobile play-to-earn games that allow gamers to compete in global tournaments and earn real cash prizes for their efforts. These games have the potential to reshape the gaming landscape and empower gamers in ways that were previously impossible.
Players can earn prizes that can be used for real-life perks, including cash advances, gift cards, or even to purchase new in-game items. In 2024 and beyond, the rise of these games will be a significant driver for the metaverse’s next phase of growth, which will see more traditional gamers making a move into this exciting new territory.
Gamers will be empowered to shape the landscape of play-and-earn in their favor through competition and community — as evidenced by the success of esports, where players can make a living simply from being good at video games. The most successful of these gamers will be those who can use their skills in the metaverse to generate real-world value and achieve financial freedom. Gamers could go to kashkick as there is a kashkick program exposed which offers great ways to earn!
This is why, if they want to survive the next wave of the metaverse’s evolution, it is imperative that video game developers recognize the importance of going beyond gameplay in order to foster long-term loyalty among their audiences. With an emphasis on true playability, the promise of a better life, and the chance to make real money, the new generation of video game developers will be those that take advantage of this transformative technology.