After the euphoria and the improbable returns, the time of necessary reflection inevitably comes. A situation that the play to earn sector is currently facing. This new paradigm of gaming enhanced with NFT tokens and sprinkled with a good dose of cryptocurrencies. A heresy for those who consider that playing must be simply consuming. But a real revolution is underway for fans of a Web3 where users become the actors of their ecosystem. With for some, the hope of making this occupation a real professional activity, source of regular income.
The adoption of the cryptocurrency sector sometimes goes through unexpected byways. And what some people are a little quick to dismiss as a mere fad, could well become the next must-have trend. The gaming market is undergoing a real internal transformation, as natural as it is digital. A dynamic whose actual importance could almost be measured by the rejection encountered in the ranks of purists. But obviously, the changeover is already underway.
For it is a real crypto-economy of the video game that is being created. With the Axie Infinity project (AXS, SLP) at the helm of the industry's biggest success as its main symbol. But currently struggling with an internal tokenomics that is not digesting a significant decline in its business. For the downturn has often been brutal, after a generalized rise close to the speculative bubble at the end of last year. But the hope of making gaming a source of income worthy of a salary is still there.
Later I want to be a gamer
It seems important to point out that the ability to generate a decent income with play to earn is mostly in areas where the average salary is (well) below $1000. And for the time being periods of market upturns that have boosted this activity with cryptocurrencies with unlikely returns. But regardless, the trend is there and the public is waiting. This is revealed in a recent study conducted in the Philippines by the Balthazar platform, dedicated to this fast-moving sector. With a panel of over 1100 gamers surveyed, not all of whom play games that include NFTs and/or cryptocurrencies (yet).
And the results speak for themselves. For a third (32%) of the participants in this study say they would immediately quit their current jobs if a gaming activity allowed it. But, for more than 65% of them, only if they could earn a minimum of $42 per day (about $840/month). And no less than $316 per month for a full-time job, according to the remaining 55%. An amount that corresponds to the average salary of the people interviewed, currently with a fixed job. And in the case of a simple salary supplement, more than 59% of respondents favor this type of opportunity.
A potential still in the making
And even if most of the respondents admit that it is still too early, the business model is becoming clearer. For it is no longer just about earning cryptocurrencies by playing. But also - and for example - to open up to staking options against rewards. Or simply to accompany this activity with profits from operations more directly related to the cryptocurrency market, without necessary relation to play to earn.
Because one of the real strengths of this sector is to establish itself as a gateway to wider adoption of cryptocurrencies. While developing an innovative business model, based on a system of rewards and incentives that make players the new actors of their virtual worlds. A Web3 revolution applied to gaming that has not finished transforming this ecosystem and the whole society.