Play-to-earn (P2E) blockchain-based games gathered investors’ attention in late 2021, with Axie Infinity leading the pack with over 2 million active users. In P2E games, players are awarded tokens or nonfungible token assets (NFTs) as they progress throughout the game. These digital assets can be sold using marketplaces and cryptocurrency exchanges, generating income in a decentralized manner.
However, there is a large discrepancy between P2E and traditional PC and console gaming experiences. In that sense, crypto games are a couple of decades behind due to the restrictions imposed by blockchain technology.
Yes, most crypto games lack a decent user experience
Although the promise of AAA-level crypto games eventually developing exists, so far, most of the launches gravitate toward digital trading card battles, decentralized finance disguised as role-playing games, and collectibles.
Unsurprisingly, crypto games critics focus on the lack of fun, or a comparable user experience versus the traditional market, as pointed out by analyst Udi Wertheimer.
“ayyy what are you doing tonight let’s play the new crypto game together!”
said no one ever
because crypto games aren’t fun
and also don’t exist
— udiverse (@udiWertheimer) August 2, 2022
According to Anton Link, the CEO of NFT renting and leasing protocol Unitbox Protocol:
Unlike most Web2 titles, fun is not what play-to-earn gamers aim for. Their main goal is to make a profit and be the first to gain new valuable experience that they can effectively use as a guild or cybersports team member to monetize their time.
In terms of adoption, the traditional gaming industry beats the movies and TV entertainment by a large margin. A recent report from Newzoo suggested that the video games market will reach $200 billion in 2022, a 5.4% increase year-over-year. In addition, the report states that the gaming segment entices 3 billion players, far higher than the estimated 320 million crypto users worldwide.
Even if Wertheimer’s remarks are correct, meaning the demand for…