The Year in Review for Play2Earn and the MetaVerse 🥳

The Ethereum blockchain was the first to unlock the power of smart contracts. These smart contracts allow value to be placed and recorded on any digital item. The first items to have value put on them were digital art and digital .jpeg pictures. This first started to take off in 2017/2018 but it was not until 2020 and the global pandemic that the first video games were built that allowed in game items to hold real world value and be connected to this new smart contract technology.

In 2020 the first Play2Earn crypto game to get world wide popularity was Axie Infinity. This happened during the depths of the Global Lockdowns and Covid-19 pandemic. The income generated from this game which was about $300 – $400 a month for most full time players, literally saved the lives of thousands of people around the world from hunger and starvation in 2020. Axie infinity allowed people in low and middle income countries around the world to use a mobile phone and earn an income during the global lockdowns. By early 2021 the massive global popularity of this game got everyone’s attention in the crypto and video gaming space, with a tidal wave of new crypto play2Earn games being launched in 2021 and the Play2Earn space attracting billions of dollars of investment. 2020 was the year crypto gaming was truly born, but 2021 was the year that the first boom of innovation and investment into crypto gaming really started to take place. 2021 was also the year for the worlds first MetaVerse land boom. 2021 witnessed the introduction and sale of in-game land and we expect the growth of MetaVerse land to continue over the next few years. 2021 had the worlds largest social media company, FaceBook change their name to Meta as they start the move away from social media and grow more into their Virtual Reality business. Virtual Reality and remote work was a big theme for 2021 and it was the year the MeaVerse had its own economic boom. The Virtual Reality will be a way people will be able to play and interact with these games even more in the future, and yes we are only getting started. We expect new innovation to happen in the Play2Earn space in the years to come, one of which will be the advancement of MetaVerse Farm land sales and virtual real estate inside other buildings such as the sale of rooms or floors on space stations or in-game towers. We also expect advertising space to continue to be sold in these virtual locations.

2022 will be a continued year of innovation for Play2Earn the the MetaVerse. With new games being released and real competition entering the space for the first time. We see 2022 as the year when the Play2Earn crypto gaming industry really starts to innovate and grow. Virtual Worlds like SandBox and Decentraland will see continued growth in advertising space on these virtual spots of land. We will also see more virtual worlds being built and increasing growth and competition in the space.

Play2Earn Space games like Dark Frontiers and others will finally come out and bring better graphics and game play than many of these early crypto games have now. We think 2022 will be a great year for Play2Earn.

So how do these games allow people to Earn money ?

Well there are two main ways to earn money with Play2Earn. NFT’s Sales and mining crypto currency in the game.

  1. Mint in Game NFT’s ( Craft / Breed / Build ) in game items and re-sell them.

2. Buy / Sell / Rent in Game Land ( NFT Land Sales )

3. Mine in-game crypto currency

Play 2 Earn Games get their value from smart contracts. These smart contracts allow value to be placed and recorded on digital items. These are a few ways that Play2Earn games allow players make money.

These NFT’s can be any in-game item. Things such as land, house, clothes, in-game weapon, in-game tools or other items used in the game. These items or tool can make money or have any other use. The supply and demand for that digital item makes its value. The real prize and innovation will come when these games can find a way to make their economies stable, but that is a topic for another day. If you like this post please share it with your friends and let people know what we are doing here at Income Player.

Have a Happy New Year everyone.

Share This Post

More To Explore