Introduction

Play to earn gaming space

​​Games and entertainment have become an essential part of everyone's life, making the gaming industry a fast-growing market worth billions worldwide. Online gaming has been an integral part of the world-wide audience and is a prominent pastime activity for over two billion people. In 2019 alone, the gaming industry brought in revenues of over US $120 billion. Every year, the online gaming industry grows at such a rapidly increasing pace that it is now estimated to be valued at US $173.70 billion and is predicted to increase to a quarter trillion dollars over the next five years (Winder, 2021). In 2020, video gaming players spent up to US $4.5 billion on VR gaming or immersive gaming, and therefore a huge potential is arising for the space (Business Wire, 2020).

Global Gaming Revenue (Source: Newzoo)

Global gaming revenue is expected to reach $200 billion in 2023, with no signs of slowing

Play-To-Earn Gaming Model

In Play-to-earn gaming model, players can earn rewards of real-world value by completing tasks, competing against other players, and advancing through various levels of play. These rewards come in the form of in-game assets such as crypto tokens, virtual land, as well as skins, weapons, and other NFTs.

Millions of gamers are interested in play-to-earn(P2E) earning opportunities. As a result, the P2E business model has become one of the fastest growing spaces in the gaming industry, providing financial benefits to all players who add value by contributing to the gaming world.