The Reason for P2E | A Rethinking on Blockchain Gaming
Many of us have gotten to know “play-to-earn” over the past year or so. And in doing so, we have become somewhat familiar with the concept of “blockchain gaming” and the things this entails.
From this, many people might agree that P2E needs to go in a new direction – that maybe it’s time to reinvent the wheel.
For most of its existence (admittedly short), many people have thought that the concept of “play-to-earn” was synonymous with “leave a stable job and go all-in as a player of blockchain games.” Players, managers, and even investors have all had a part in fuelling this trend. Given the all-time highs and the atmospheric rise in market prices, why should anyone spoil the fun?
On social media, a casual observer could see professionals leaving the comfort of their jobs to form guilds. Others are leaving to serve as retail investors in the game. Some people take on debt to fuel their entry into the P2E and NFT gaming space. Quite surprisingly, many people could recoup their loans and succeed in executing what would have been an absolutely risky investment under completely different circumstances.
Then the hard reality comes in: utility coins crash, too much currency is minted, and the economics of the game breaks down.
Games on the blockchain are first and foremost, games that are supposed to be played on their own merits and not as primary investment vehicles. Though let’s be realistic here – why would we invest our hard-earned money in a blockchain project if we knew that we would not earn something from it?
It has been argued for the longest time now that the ultimate goal of a blockchain gaming project is to actually make a game that can stand on its own merits. This comes with multiple benefits, such as:
- Fostering the creation of a community that would be loyal and supportive throughout the game’s lifespan.
- Allowing room for more expansion and adoption opportunities.
- Incentivizing players to keep playing the game (i.e. stay as daily active users) in the long run.
Of course, it’s not an easy task.
Still, if the P2E and NFT spaces reach a point where “play-and-earn” becomes a viable concept, it’s going to be the start of an entirely new era in blockchain gaming.
Basically, the aim of the “play-and-earn” concept is for users to play these games as they would play an actual game. The tokens and portable digital art serving as bonuses to enjoy. They could be used to be traded in the market for more liquidity and earnings or to be cycled back into the game’s ecosystem through staking, breeding, governance, and utility, among other possible uses.
What do you think the future of “play-and-earn” gaming will look like? Only time will tell.