The gaming industry has grown rapidly over the last decade, with 3.24 billion gamers participating in the previous year alone. There are signs that the industry’s market worth will continue to rise at an increasing rate. The main downside is that people now recognize the value of their time and believe they should be compensated financially for their virtual experiences.
The rise of “play-to-earn” games has enabled gamers to monetize their hobbies while becoming the primary decision-makers on gaming platforms rather than the developers. Play-to-earn games are gaining traction and reshaping the gaming industry as a whole. But, before we delve into the lucrative world of Play-to-Earn games, let us first understand how it works.
The Play-To-Earn Games
Play-to-earn games have disrupted the traditional gaming market as we know it by allowing users to earn money while enjoying gaming experiences. According to one study, out of the 3.24 billion active gamers last year, more than a billion preferred to exchange their digital assets for a cryptocurrency that can be used anywhere. The innovative play-to-earn gaming model has aided in creating a lucrative venture, allowing everyone to earn money while having fun.
There is an entire framework developed around professional gaming, but ‘play-to-earn’ helped create a concept of ownership and profit sharing. The opportunity for gamers to earn and own digital assets that they can trade for money at their leisure is game-changing. However, there is still opportunity for growth in the blockchain gaming industry, as play-to-earn games have yet to take off and gain traction fully.
Currently, NFTs are functioning as a catalyst for the growth of the GameFi sector. The year 2022 has been hailed as the year that GameFi will rise; however, the industry has not witnessed a boost in adoption since the first quarter. GameFi projects are capitalizing on the growth in NFT popularity by initially selling their Gaming NFTs before launching their games. The NFTs are helping these projects to be more accessible to interested users. Battlefly, for example, is a PvP/PvE gameFi project powered by $MAGIC.
The Project began by releasing rare battlefly NFTs, which rapidly sold out. Battlefly plans to release the full game later this year. The NFT strategy made the project more accessible to users and created anticipation for the game’s launch. The growing popularity of NFTs is also supporting the crypto world in seeing the “Rise of GameFi” this year.
Although there are several Play-to-earn projects out there with utility, the main issue is that most of them are not very profitable and lucrative. Some projects have utility, and they are not lucrative, while some are lucrative but are mostly one-dimensional with no utility. The Play-to-earn sector is still growing, and it is rare to see a gaming project that checks all boxes: Lucrative, accessibility, and provides utility. However, new gaming projects are paving the way for an accessible and lucrative play-to-earn market. For example, Gods Unchained and Attack Wagon.
Lucrative Play-To-Earn Project That Provides Utility
Let’s look at Attack Wagon; it looks like it checks all the boxes of a well-structured play-to-earn model. Attack Wagon is a blockchain gaming development studio specializing in free-to-play and earn-to-play games. Attack Wagon provides consumers with an immersive gaming experience by utilizing blockchain technology, DeFi, and NFTs.
Scrap Guilds, a Sci-fi RPG with direct in-game use of Attack Wagon’s native token $ATK, was recently released and available for purchase on Gate.io and Quickswap. $ATK is an ERC-20 coin based on the Polygon chain. $ATK can be spent on in-game items such as NFTs and PvP entry fees within the Attack Wagon environment.
Attack Wagon was founded to make the lucrative world of play-to-earn more approachable, offering free in-game starter items to encourage engagement and monetization while the user plays. The items and landplots (or NFTs) will increase in value with higher usage levels as they are upgraded, allowing the possibility to gain even more value in time.
The Attack Wagon platform allows users to earn the same cryptocurrency passively across multiple games, earning significantly more money. The first Attack Wagon game, Scrap Guilds, has an exciting storyline and exciting features, including multiplayer mode, quests, and PvP, among other things. It is scheduled to be released in the third quarter of this year.
A Lucrative and Accessible ‘Play-To-Earn’ World
The unique play-to-earn model has had a significant and obvious impact on the gaming world, but certain changes are required to fulfill its full potential. It is critical for a GameFi project to be profitable and accessible to all to increase user adoption and bring more people into the cryptocurrency world. Innovative gaming projects such as Attack Wagon appear to be paving the way for a more accessible and lucrative ‘play-to-earn’ world with utility.