How developing nations are making the most of web3 gaming
Gaming for many can be an expensive ordeal as many consoles and games are starting to become a victim of ‘hype’, matched with recent production issues firms have fallen into, prices to play many games have become inflated.
Many will argue also it is not until the past 12-24 months where gaming as we know it has been flipped onto its side and given a makeover with the introduction of blockchain technologies. Each month that seems to pass a new traditional gaming company has made their presence known on the blockchain.
In this article we go over the impact that crypto gaming has had as a direct response to global markets being shifted and how people around the world have reacted to the different economic changes we are still feeling across the world today. With many locations around the world capitalising on the earning potential crypto gaming titles have been able to create.
How people earn
Crypto gaming is becoming a lucrative model for gamers, new and old. As more companies are releasing games and updating their roadmaps for already announced projects the fundamentals and opportunities are becoming more clear.
We are starting to see platforms built like Steam and Epic Games Store that act as a portal for players to access games, NFTs and marketplaces. Here users can earn a token, rent out NFTs, sell NFTs and develop their own titles for the designated blockchain.
Playing games such as The Sandbox and Blankos Block Party allows players to earn through the challenges and events hosted through their IP.
Overall the earning potential has become staggering amongst players and with certain titles gaining esports exposure this further legitimises how lucrative Play-To-Earn really is.
Countries crypto gaming are most popular in
Developing nations around the world when compared to developed westernised ones have a considerable difference in career opportunity due to a number of different societal and structural factors.
The birth of the internet and the application of it within these countries has proven a positive as many individuals can now earn a living as long as they have an internet connection and the relevant software.
Countries such as The United States, Canada and The United Kingdom have considerably low engagement rates. However people are open to trying out the games.
India, Hong Kong and the United Arab Emirates have the highest rates of engagement. Developing nations have become a driving user force with countries like Nigeria, The Philippines, Vietnam and Brazil having large numbers of users engaging.
With the amount of negative press received in the USA and UK it comes as no surprise that these countries do not have as high readings as other countries. Furthermore, financial regulation is prominent amongst developed nations making access and press another factor many will have struggles with.
It is an amazing sight seeing the opportunities crypto gaming has created for developing countries. The economic downturn we have experienced around the globe is being put at bay temporarily as many people are now opening up new doors to create streams of income with very little to no barrier of entry. It will be interesting to see the statistics report for 2022 as we roll into 2023 and how crypto gaming has panned out over the past 12 months.