The online game market is growing day by day thanks to the increasing mobile and internet penetration. The industry is predicted to continue to boom shortly. Due to the global pandemic, more and more people are spending time on the internet and online games also. Correspondingly, Play-to-Earn (P2E) gaming has emerged and become explosive with a remarkable number of participants from both crypto and gaming communities.
Online gaming has grown dramatically in popularity in the past few years, especially during the COVID-19 pandemic. Gaming is an easily accessible form of entertainment, suitable for various subjects from children to the elderly. Recent research shows that the gaming industry will grow by more than 9% over the next five years. Notably, this sector reached over $20 billion in revenue for 2020 only. Gamers are so enthusiastic that some spend hundreds of dollars just to upgrade their avatar or gain access to a coveted in-game item in which they are interested. However, playing games is no longer just for entertainment or passion when P2E games appear.
Blockchain-based P2E games are designed to change the traditional game’s rules by generating an equal playground for everyone, giving players ownership as well as a source of income, and making their time spent worthwhile. P2E gaming created a milestone for not only the game but also the crypto industry since it became a trend booming in the market. A large number of players are making thousands of dollars a month by playing games in which Axie Infinity is probably the most popular. According to Rest of World, the popularity of this game has exploded in recent months, particularly in the Philippines, accounting for approximately 40% of total players. Many players shared that they could earn more income compared to their usual monthly salary and playing games allowed them to make a better life.
After Axie Infinity, various GameFi projects have been launched and provide fantastic playing fields for game and crypto enthusiasts. In P2E games, non-fungible tokens (NFTs) play a vital role since they are considered the center of the game functionality. These tokens represent ownership of unique items gathered by the players during their gaming experience. By participating in the in-game economy, players create value for the ecosystem. Thus, they are rewarded with promising in-game assets, which can be a specific type of cryptocurrency or NFTs. P2E gaming is still being further exploited and this will be a great money-making opportunity for those interested in this field.
Catching the promising potential of the game market, LiveTrade has entered into cooperation with strategic partners like Moniwar and HeroesTD to develop P2E game projects to bring more investment opportunities to our users. The projects have gained first outstanding achievements, specifically, HeroesTD token hit an all-time high (ATH) of $12, equal to 200 times higher than the IDO price. We hope that these collaborations will create the best values and benefits for the community.