The introduction of blockchain technology to gaming has meant that anyone can now earn simply by playing games, a trend that is expected to gain momentum in 2022.
Prior to the combination of blockchain and games the only way players could earn was by uploading gameplay videos, participating in esports events, or by streaming gameplay to a fan base. In 2021 gamers learned that they could begin to make money simply by playing blockchain-based games, and that trend is expected to continue in 2022.
Based on a report released by gaming insight company Newzoo, esports and P2E models will become increasingly widespread as gaming companies move to the blockchain and increase their adoption of the nascent technology.
Another trend that should push esports organization towards blockchain-based gaming is the need to diversify income streams. One way to do this is through non-fungible tokens and in-game currencies. This could eventually lead to new business models within the esports industry.
“Esports’s relationship with blockchain and NFT is already beginning to flourish, and we expect to see even more developments throughout the year.”
The report also shows that younger players, who are already immersed in proto-metaverse games like Roblox and Fortnite, will drive some of the developments within the gaming industry as game companies look to cater to the newest groups of gamers.
The report also posits that the gold rush for virtual real estate is only just beginning. As companies realize the growth and branding opportunities present in the metaverse more capital is likely to flow into the space.
While Axie Infinity continues to hold the crown as the top blockchain-based game, experts in the blockchain gaming space predict that other games will soon overtake Axie and replace it at the top of the gaming ecosystem. Mobile games are of particular interest as many younger players access their gaming through mobile devices.
“While mobile esports is quickly making a name for itself in growth markets across Latin America and Southeast Asia, more mature markets are also getting involved as new mobile games enter the market with an esports focus.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.