Last Updated on Nov 10, 2021 at 12:26
The Play-To-Earn model combined with cryptocurrency has recently taken the spotlight and caught people’s attention, mainly in emerging markets where households hard-hit by Covid-19 and stuck at home turned to P2E as an alternative source of income.
“Play-to Earn is the next big thing for Web3 and will attract the next 10 million users into the blockchain industry,” said Myrtle Anne. “With virtual worlds like Axie Infinity, Decentraland, and Sandbox laying a solid foundation for Web3 gaming, there is a tremendous opportunity for traditional game studios and designers to make a splash in this budding sector with excellent gameplay and user experience.”
There are already many stories out there from people in Venezuela, Brazil, and the Philippines that left their day jobs and focus only on blockchain P2E to pay their bills, rent, and food.
According to a May 2021 report by Statista, in 2020, the global online gaming market generated over $21.1 billion in revenues. That represents a 22% rise from 2019. The same report says there are currently about one billion online gamers worldwide. That number could grow to over 1.3 billion by 2025.
Blockchain-based P2E games are poised to change the game entirely, no pun intended. Play-to-earn blockchain games offer a level playing field for all gamers regardless of their skills, giving them ownership and a source of income, making it worthwhile to spend time playing the game.
If the past 18 months have taught us anything, decentralization and the metaverse combined with play-to-earn are here to stay, says a DappRadar report. It adds that in this sector alone, over 750,00 blockchain wallets were active daily in Q3 2021. However, that number could be higher. Cointelegraph published an article saying Axie Infinity has one million players playing their game daily.
IoTex, a leading open-source blockchain platform with smart contracts functionality, has partnered with PlaceWar. The IoTex is quickly establishing itself as a leading brand name in the P2E industry. They are also confident PlaceWar will elevate the Web3 gaming sector to new highs.
“We believe PlaceWar can bring its traditional expertise in gaming and forward-thinking Web3 philosophy to create the first truly multi-chain Web3 gaming ecosystem. That is one of the reasons why we are so extremely excited for PlaceWar’s launch on IoTeX,” said Art Malkov, IoTeX Head of Growth. “PlaceWar has advanced gameplay, sound design, and a multi-chain philosophy.”
Malkov also explained PlaceWar’s Pixel system is a highly anticipated feature.By adding a creator economy into the game, the boundless imagination of developers, designers, and builders could be embedded in the game with balanced incentives, he added.
“PlaceWar is a game that brings back memories of when I was only seven,” said Malkov. “The thrill of collaborating with other players inside a gameplay just to invade your enemy and boost your creativity by dominating the Placedonia map was in itself exhilarating.”
The IoTeX and PlaceWar partnership was signed ahead of the blockchain gaming team launching their IDO on November 12, 2021. Applications to participate in the pool opened today and will remain open until 07:00 am UTC this Thursday, November, 11.
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