Play to earn is going to be the future of NFT’s there are two emerging leaders in the Play2Earn gaming revolution for Game Creation companies 1. Game Starter and 2. GameFi both of these Crypto Companies should be watched and both have a bright future.
GameFi is a game hub which features a game-dedicated launchpad, game item market, game aggregator, and yield guild. It is part of Icetea Labs, a notable blockchain game incubator with many successful titles such as Faraland, StepHero, Kaby Arena, Heroverse, PlanetSandBox, World of Cryptia, etc.
Inspired by Axie Infinity, the blockchain game industry is booming in Vietnam. Several game incubators and hubs like Icetea Labs and GameFi are helping dozens of game projects to have a voice in the world. Thankfully, the nature of blockchain-based gaming communities is distributed yet micro-fragmented at the same time. This allows for an interconnected ecosystem while creating greater engagement within certain physical communities like Vietnam.
Axio Infinity has the most popularity in the Philipines with its massive growth there in 2020 and 2021. This growth in Play2Earn gaming in south east Asia is only growing. To put the opportunity into context, in Vietnam alone nearly 75% of people between 16 and 24 years old reported playing online games and revenue in the video games segment is projected to reach US $257 million in 2021. Combine this with the rapidly growing popularity of play-to-earn gaming in the blockchain world and the total addressable market expands even more.
Vietnam and the Philipines are arguably the most engaged and passionate Play2Earn gaming communities in the world right now. Smartphone adoption has been consistently on the rise and is predominant across the country, not to mention most young gamers are also crypto-natives or recent enthusiasts. This creates a perfect storm for both Game Starter and other blockchain gaming studios, like Mirai, and GameFi to establish a local presence and grow the play2earn industry.
Resource and innovation studios and incubators like Mirai and Icetea Labs will be essential elements to help ensure Vietnam’s future in blockchain gaming remains at the highest level. We will keep an eye on this as it could be a literal game changer for the developing world.