Games will adopt blockchain in 2022 through esports and P2E models: Report
In the past, earning money through games was only possible by uploading gaming videos online, streaming game content and playing competitively through esports. But in 2021, many realized that through blockchain, gamers can earn money simply by playing.
This trend may continue in 2022 as play-to-earn (P2E) business models become more developed and blockchain adoption in esports becomes more mainstream. In a report published by gaming insight company Newzoo, the firm predicts that P2E models will become more viable in 2022 as gaming companies try to adopt blockchain.
“Publishers might use blockchain technology to facilitate more secure and legitimized player-to-player trading within a centralized game environment.”
Additionally, the need to diversify earning streams may lead esports organizations to turn to blockchain-based earning mechanisms by utilizing nonfungible tokens. Because of this, new esports business models involving blockchain are starting to emerge and will have more developments in 2022 according to Newzoo.
Apart from these, the report shows that metaverse-related games may also become more prevalent as younger players continue to frequent existing “proto-metaverse” games like Roblox, Fortnite and Minecraft.
Games are playing a key role in shaping the #metaverse. But who are the #metaverse players?
We zoomed in on people who play proto-metaverse games like #Roblox, #Fortnite, and #Minecraft to find out. ️♂️
Explore the insights here: https://t.co/590e2Q0dqS pic.twitter.com/u5FltKyHQV
— Newzoo (@NewzooHQ) February 23, 2022
Newzoo also predicts that “the brand gold rush for virtual real estate is only just beginning.” As companies continue to see the potential opportunities within metaverse games, more investments may flow to virtual real estate.
Related: Warner Music Group announces partnership with blockchain gaming developer Splinterlands
At the moment, Pokemon-inspired Axie Infinity continues to be at the top of the blockchain gaming ecosystem. However, Cointelegraph experts note that games like DeFi Kingdoms, Crabada or Yield Hunt have the potential to eventually replace Axie Infinity and take the top spot within the blockchain gaming industry.
Meanwhile, apart from playing games, the blockchain gaming community has also taken steps to give back to those in need by donating to charitable causes. Back in 2021, the community raised $1.4 million to help victims of a typhoon.