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The era of Web 3.0 has brought the new generation of gaming which is known as Play-toEarn (P2E). Play-to-Earn(P2E) gaming using Web 3.0 made big waves in 2021 and was constantly present in the news cycles last year. The movement started by Axie infinity, allowed many people around the world, specifically in the Philippines to earn a living wage just by playing the game.
P2E games allow users to earn the in-game token which are cryptocurrencies that can be redeemed for fiat currencies of your choosing. Gaming is the largest industry in the entertainment sector and billions are spent in the traditional gaming ecosystem for in-game utilities, consumables, and upgrades that have no potential of allowing players to earn real money or make a profit.
According to newzoo, the gaming industry is forecasted to reach $205 billion USD in revenue by the year 2023.
Fronting this entire movement are gaming guilds that organize players and help discover new games with earning potential. A gaming guild is a community of gamers who come together and participate in various events collectively making the experience engaging and fun. Some of the guilds act as an investor and fund the upcoming gaming projects to support their fellow gamers. There are more than 4000+ active gaming guilds continuously contributing to the P2E gaming ecosystem. The research team at Mapleblock also wrote a detailed thesis on GameFi covering the state of the ecosystem.
Mapleblock Capital has invested in several GameFi based projects in the year 2021. Alongside this, Mapleblock Capital in partnership with Good Games Guild and Decentral Games has launched a $15 million USD fund to support the growing NFT, Gaming, and the Metaverse ecosystem. Metaverse is nothing but the network of 3D virtual worlds which is focused on social connection. Thus, bringing together a strategic network of deep sector expertise and hands-on support from the Good Games Labs.
Since the pandemic struck, more people have spent their time playing video games increasing the demand for online gaming and consequently P2E options. With the increasing popularity of P2E games, it is bound to attract attention from popular streaming services like YouTube and Twitch soon. Thus, bringing the P2E gaming ecosystem to the mainstream.
About Mapleblock Capital
Mapleblock Capital is a rapidly growing digital assets investment firm based out of Asia and the Middle East with a focus on Unlocking the Power Blockchain. The firm has over 120 blockchain investments and has backed leading projects across all blockchain sub-sectors such as DeFi, Infrastructure layers, Gaming, NFTs, and DAOs.
Disclaimer: This is a company release. No HT journalist is involved in creation of this content.
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