Market Data
"Play and Earn - Gaming Economics, Market Size and Business Model"
Today the Play and earn or say GameFi segment has become the fastest growing segment in the video games industry. More than 3 billion people around the world spend time on online games. Therefore the industry reached $116 billion in 2021 and is expected to grow in 2022 and onwards.
Play and earn platform provides huge opportunities for businesses and players to earn from selling different skins, cards, weapons, and more in game assets. The platform offers exclusive services on mission completion, leveling up, or in exchange for cryptocurrency. In the world of play and earn platforms, movies and the music industry also combined to reach $116 billion in revenue in 2021.
Understand the P2E Gaming Industry Stats
In the USA, 13.3% of men and 5.6% of women have adopted the p2e platform.
A global trend shows platform popularity as 34% of respondents have played p2e platforms, 29% Hong Kong, 27% UAE whereas France grew from 13% to 29% and Spain from 8% to 17%.
Top platforms like Axie Infinity have 2.7 million active monthly players, DeFi Kingdoms have cleared 8.14 million transactions, and Gods Unchained can generate $6.46 billion in revenue.
P2E Market Size
P2E is one of the most exciting gaming platforms and is projected to reach more than USD 3 Bilion by 2028. The most common reason is that P2E platforms are highly targeted by countries like;
Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
South America (Brazil, Argentina, Colombia, etc.)
North America (the United States, Canada, and Mexico)
Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
Top P2E Game Tokens
The Sandbox (SAND): Sandbox is a virtual planet owned by a decentralized community with a trading volume of $395,160,793. Of a total of 3 billion supply of SAND coins, 1.3 billion are in circulation.
Axie Infinity: With a trading volume of $178,985,467, the platform is circulating a supply of 82 Million AXS coins from 270 Million.
STEPN: a platform enjoying a trading volume of $254,186,839 and a circulating supply of 600 Million GMT.
WAX (WAXP): An explicitly created platform to make e-commerce transactions faster, easier, and safer and a circulating supply of 2.1 Billion WAXP coins.
Radio Caca (RACA): Universal Metaverse’s native token platform circulating supply of 300 Billion RACA coins from 431 Billion.
P2E Market Growth
The P2E gaming industry has been growing exponentially over the past few years. Here are some latest stats showing its:
The blockchain gaming industry grew 2,000% in the past year from Q1 2022.
Blockchain attracted 1.22 million unique active wallets in March 2022, as Axie Infinity is responsible.
Until mid-2022, the NFT marketplace is believed to enjoy cumulative $10.5 billion dollar capital.
P2E Business Model
In the world of p2e gaming platforms, there are various types of gaming models that are becoming prominent for business. Let’s check out;
Different Types of Gaming Business Models
Pay-To-Play
As the name indicates, pay-to-play is a gaming platform where gamers need to pay before playing or downloading. Users can only access these games if they have membership bundles or paying fixed monthly subscriptions. While playing the game, users can earn rewards or enjoy subscription discounts on their next activation plan. Basically, the redemption in the subscription is based on how much the game is engaging or ready to attract new users compared to other platforms.
Free-to-Play
As the name implies, you don’t have to bear downloading or playing game fees to enjoy a free-to-play platform. These games are free to use, but users need to pay certain charges to leverage the advantages of in-game features, weapons, costumes, and powers. Businesses can also earn through in-game advertisements. This business model is highly popular among others and allows users to generate 80% of their income. Some of the highly popular gaming platforms include Fortnite, Apex Legends, PubG, Valorant, and others.
Play to Earn
The platform is a recent addition to the gaming world that rewards players for playing and participating in in-new game activities with real-world money. Due to the high popularity of the platform in the crypto world, games like Axie Infinity, Decentraland, Sandbox, and Gods Unchained, are blowing up players’ minds in web 3 space.
Play and Earn
Like play and earn, play-and-earn games are new business models that primarily focus on enjoying the games and earning for effort and outcome. The game’s primary focus is to enjoy earnings and healthy earnings through in-game economics and blockchain technology.
"Play to Earn Gaming Economics, Market Size and Business Model" - Website Medium
Available in: https://medium.datadriveninvestor.com/play-to-earn-gaming-economy-market-size-and-business-model-e01398393db1
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