💰Play-To-Earn

(P2E)

A growing number of blockchain-based games allow players to compete for in-game assets that can later be transferred into real world value. This has allowed for the emergence of virtual economies where users participate in gaming activities to generate real world income. This trend has received significant traction in Southeast Asia particularly. Many have turned to play-to-earn (P2E) gaming as a viable income source after COVID-19 impacted their earning capacity. The play-to-earn movement has gained such traction that some governments are planning to create taxation schemes for play-to-earn game developers and players.

While there are up to 220 million cryptocurrency users globally, there are fewer than 10 million gamers within the play-to-earn ecosystem. However, both users and interest has been exponentially growing. In July, there were over 40,000 searches for the term “play-to-earn crypto games”, an over 300% increase from the previous month. Despite the surge in interest, the play-to-earn industry is still in its nascent stages and significant gaps remain in the market.