• Reddit co-founder Alexis Ohanian believes that play-to-earn gaming is the future of video gaming.
• Play-to-earn games reward players with crypto or non-fungible tokens (NFTs) for their gameplay achievements, wins, or time invested.
• Despite a recent downturn in token prices for Axie Infinity, Ohanian remains confident that play-to-earn gaming will become an industry norm within the next five years.
Play to Earn Gaming: The Future of Video Games
Alexis Ohanian’s Unshaken Belief
Reddit co-founder Alexis Ohanian has reiterated his belief that “play-to-earn” gaming is the future, despite the recent decline of Axie Infinity, a leading play-to-earn game. Ohanian took to Twitter to defend his stance, claiming that most gamers will demand proper value for their time spent playing within the next five years. He pointed to the successful six figure sales of virtual assets from games such as Entropia Universe and Counter Strike: Global Offensive skins as evidence that games will inevitably adopt this model on a broader scale.
What is Play to Earn?
Play to earn games reward players with crypto or non fungible tokens (NFTs) in exchange for their gameplay achievements, wins, or time invested. These rewards hold tangible value as gaming crypto tokens can serve as a store of value and allow players to accumulate virtual assets and resources that possess real world worth. Furthermore these assets can be freely traded, sold or utilized across multiple games enabling players to monetize their gaming expertise and investments.
The Decline of Axie Infinity
Despite its success in accumulating over $4 billion worth of NFT trading volume, Axie Infinity faced setbacks when token prices plummeted earlier this year. However Alexia Ohanian maintains his faith in the game’s pioneering efforts in advancing play to earn technology and believes it will become an obvious choice as crypto and NFT technologies scale over time.
Alexis Ohanian’s unwavering support for “play to earn” gaming serves as proof right now more than ever before people are beginning to recognize the potential applications behind blockchain technology and how it can revolutionize traditional online gaming experiences by introducing economic incentives which provide gamers with tangible rewards for their hard work and effort invested into each title they choose to participate in!