Home Business Insights & Advice How to make money on play-to-earn?

How to make money on play-to-earn?

by John Saunders
1st Jun 22 11:25 am

Today, the ideas described are becoming more popular, and they may all be summed up in a single term – web3.0. This allowed us to develop games featuring the idea of play to earn (play and win). They have already started merging game economies with real-world ones, and players are now earning actual money while in the virtual world. For example, in the game Axie Infinity, you may purchase animals as NFTs and potentially make up $ 1000 in profits. In addition, such games allow you to start new companies and rent out the Axioms’ creatures or insure yourself against the loss of all NFT inside the game.

The metaverse has the potential to go even further. This is a completely new paradigm of interaction, entertainment, self-determination, and self – awareness. Many of these multiverses are gaining great popularity. Perhaps we are already discussing Dental and/or Sandbox, where users not only work but also earn a living. The metaverse is gaining very large momentum, the cryptocurrency will be used as the main payment for digital goods, and of course, consider that Huobi trading bot will greatly simplify trading.

The metaverse is waiting

Why did everyone start creating their own universes? In 2022, virtual reality will go far beyond the needs of the gaming world. The pandemic has made its own adjustments to the usual course of events. And it is unknown when it will end. Many companies have switched to remote work – huge offices have been emptied, and real estate has fallen in price. However, one thing becomes self-evident: we will not return to the old way of life. As a result, all corporate and investor attention has been focused on the new digital reality.

We’re already seeing that real estate and property in the metaverse are growing far more quickly than they are today in the physical world. Digital real estate prices have increased by 3,000 percent during the first half of 2021. Also, the statements of technology giants make us think about a new virtual future. Metaverse Centrland has already announced its plans to create a metaverse for 2022. Global giants Twitter and YouTube have begun to master web3.0 and NFT technologies in particular.

Facebook has turned into Meta and is creating its own meta – universe along with other startups. In these realities, everyone will have a digital property and their own capabilities that allow them to work in the virtual world and receive real resources. If you look at the latest news reports, you will notice that more and more companies are opening their offices in these metaverses.

The total revenue of virtual gaming worlds could grow from $180 billion in 2020 to $400 billion in 2025, according to the investment company Grayscale. According to Vantage Market Research, the metaverse market will grow from $43.4 billion in 2020 to $814.2 billion in 2028.

In addition to creating real valuable assets within the digital world, companies continue to earn traditionally on advertising. Events take place inside Fortnite. Advertisers get a virtual world created specifically for them. And the creative mode gives almost limitless possibilities for customisation of costumes, game plots, and even individual in-game worlds. Fashion house Balenciaga has presented several options of equipment for the characters of the game Fortnite.

Coca-Cola, together with Tafi, has created a collection of NFT items, it includes a collectible jacket that the owner can “wear” in Decentraland. Gucci Fashion house has opened a virtual exhibition Gucci Garden on the Roblox platform for its 100th anniversary.

Conclusion and future prospects

All this can be called globalisation 2.0 – combining virtual economies with real ones. This will soon change the world forever. Fashion shows and rock concerts will be held in the virtual world and gather billions of viewers. Companies will be able to open offices in the metaverse with higher attendance than on the most crowded Moscow streets. We will work on real-life projects and current products in the future only in meta. Disparate tools like Zoom and Miro will unite in single spaces, and meetings will take place in virtual offices and offices. And perhaps we will all feel like characters in the movie “Get ready for the First player” in an exceptionally good sense of the word.

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