Besides NFT, Play-to-Earn Games Are Also Booming In 2021

JAKARTA – The year 2021 marks the proliferation of the latest generation of games, namely GameFi or commonly called play-to-earn (P2E) games. The reason is that the emergence of P2E games allows users to play while producing crypto and NFT items. Plus, with the recent boom in the metaverse, it has triggered various P2E games that are connected to the metaverse.

Cryptopotato reports that blockchain and online gaming were two fields that went hand in hand for some time. Over the past few years, the Cryptopotato side looked at several games powered by distributed ledger technology, but to date, none of them have really worked.

The P2E game boom is happening in 2021, especially at the end of the 3rd and 4th quarters. P2E game Axie Infinity has become the leader in the emergence of various play-to-earn games that have become increasingly widespread in recent months, where Thetan Arena, Star Atlas, DogemonGo, Skyweaver, DogeDash, NEFTiLAND, Upland, and so on are starting to appear in the game industry.

The explosion of Axie Infinity boosted its native token AXS, the price of AXS skyrocketed from US$0.5 to US$160 at an all-time high in November. AXS currently sits in the 30th position as the world's largest cryptocurrency, according to data from CoinMarketCap. In one year AXS skyrocketed 18,437.8 percent.

The proliferation of the P2E genre occurred after Facebook changed its name to Meta where the company owned by Mark Zuckerberg began to focus on developing the metaverse. This triggers P2E games to build their own metaverse and sell land, properties, and items in NFT form.

After Facebook went Meta, the price of game tokens skyrocketed and play-to-earn games mushroomed. This is evidenced by the increase in the price of game tokens such as The Sandbox (SAND), Decentraland (MANA), and others. At the time of writing, data from CoinGecko proves that SAND and MANA are trading at IDR 87,098 and IDR 48,197 respectively.

The Sandbox and Decentraland itself made it into the top 50 cryptocurrencies, even both of them were able to surpass Axie Infinity as the biggest game project today. Now the virtual world of the metaverse is in front of our eyes and has become hype among global gamers and has succeeded in attracting new gamers because apart from playing but also being able to earn crypto currency.