The gaming market has been a large-scale market pouring tons of revenue for businesses in the field. Being one of the biggest commercial markets in the world, it had nothing to offer back to its gamers apart from fun back then. The current gaming market has evolved into a rewarding ecosystem for gamers.
The advent of blockchain technology and NFTs have paved new avenues for the gaming sector to introduce P2E games in the market effectively. The commercial market is set to rise to new heights, and according to the report established by Marketsandmarkets it is said that “The global blockchain gaming market is projected to grow from USD 4.6 billion in 2022 to USD 65.7 billion by 2027 at a Compound Annual Growth Rate (CAG) of 70.3% during the forecast period.”
P2E Game Explained
Unlike traditional games, the new age P2E games reward players with lucrative real-time remuneration for their time and efforts invested in the gaming platforms. However, gamers are not simply rewarded with remunerations upfront. Moreover, interested players have to invest a little into their gaming platforms' NFTs.
These NFTs are the in-game assets of the particular platform, such as avatars, characters, skins, and player emotes, which can be purchased from the NFT Marketplace for Gaming Collectibles.
Once the player integrates NFTs purchased from the particular NFT marketplace for gaming collectibles, they can complete tasks and missions set in the gameplay to earn lucrative crypto rewards.
Games will continue to be an integral part of mankind to spend their leisure time gaming. With the advent of blockchain and NFTs, the way players consume games, and in-game purchases are set to change.