Play to Earn Booyah! A little Late in Crypto
Now today we are going to discuss the hottest sector in crypto Play to Earn gaming, where users can monetize their gaming habits, but beware of addiction! We learned what users look for in a great game, and what investors look for when considering gaming investments, and that the greatest example of when both collide in 2021 is Axie Infinity. Now, who will be the next GameFi project to explode? Only time will tell, but in yesterday’s episode we learned quite a few tricks on how to uncover the next hidden gem in the gaming sector.
What is play to earn (P2E), in crypto?
Vipul described Play-to-Earn or P2E as anytime users can play their favorite games and then earn NFTs or tokens from the particular platform they are playing on. The tokens they earn can then be traded on the secondary market or they can be converted from cryptocurrency to fiat currency. Trading Star added to this explaining that in some nations where income disparity is bigger than others that many people are now earning a living in the Metaverse, and the host added some other stories where players are paying their bills playing games on the blockchain.
Crypto Walley shared his wish for the industry, and he is looking for the first gaming project to integrate a single token that can conduct all the utilities on the platform as well as act as the governance token, instead of having two different fungible tokens for each distinct function. He believes this will be a game changer for the GameFi sector of DeFi.
What do Investors Look for When Investing in the GameFi Sector?
Trading Star or crypto veteran who’s been in crypto since 2016 said, “I usually earn to play, not play to earn.” He explained that he is searching for a very specific set of criteria when he’s evaluating whether or not a gaming project may be a good investment or not. He stressed that the number one thing to be on top of is whether or not they are actually developing a game, or just saying they are. Doing deep research is crucial for healthy portfolio management, and in GameFi there are a few things you need to dive into.
You will want to research who is doing the actual game development, and look into their previous track record. What is the reputation of the gaming studio the project has partnered with to execute the development? How is their marketing, is it competitive enough for this cut throat industry? How is the quality of the game? What does the community think of it? Are they excited and looking forward to updates? Are the founders connected to the gaming industry? How solid are their connections?
What do Players Look for in P2E?
Minx on the other side of the Metaverse from Trading Star is a player, and the first point he made was about how there are two types of players and they have very different experiences when participating in Play-to-Earn. He explained that he is the type of player that is playing for the experience, and that the earning part is just a bonus, a gamer playing for the entertainment and love of it, now having the opportunity to monetize a hobby. However, not all players are this mindset, some of them are simply there for the earning potential and the game play is of little relevance to them.
When it comes down to it though, quality is where the two points of view intersect, and both players and investors agree that the game to deliver in all areas for 2021 was hands down Axie Infinity. To enter this game now is a substantial investment of $1500. Now it’s time to find the next game to put together the winning formula that will impress both the traders and the players.
Minx mentioned playing the SolChicks Beta, and the DPAD traders brought up SolChicks for their next level marketing efforts to launch on 30+ launch pads. This may be the next big one, only time will tell.
How are P2E games good for mass adoption?
Vipul gets straight to the heart of why gaming is a multi billion dollar industry with over 2 billion players globally.
“Entertainment is a basic part of life, we all need it”
Playing is a natural way that leads to mass adoption, but there are hazards and we need to mind that the youth do not go too far into the Metaverse. Crypto Walley reminds us that the Metaverse should help us expand our real life communities through cooperative game play that focuses on real skill building that relates to both the real universe as well as the metaverse.
Now that we have taken a deep dive into GameFi, next we will talk about WTF and NFT is, and how they are an integral part of the growth of the GameFi sector.
What is your gaming pick for 2021? And are you a trader, a player, or both? Comment below!
DPAD is building a decentralized protocol for crypto launchpad where anyone can raise funds for their business idea. The whole process on DPAD is decentralized and user controlled. DPAD supports the decentralization of crypto, true ownership of crypto assets. Learn more about DPAD on the following links: