Fuad Fatullaev, Founder and CEO of WeWay ‒ entertainment ecosystem and NFT Marketplace for creators, celebrities and their fans.
Making a living by the sheer act of playing video games seemed like a crazy idea or a dream 10, 20, or 30 years ago. But as time passes, new technologies emerge – providing everyone with great benefits – even earning a livelihood.
One of these emerging technologies is the decentralized finance (DeFi) industry, which has not only introduced innovative mechanisms and tools for its users to manage their personal finance – it’s also given gamers across the world the opportunity to generate income with Play-To-Earn (P2E) games.
The Rise of the Play-2-Earn Industry
Unless you live under a rock, you might have heard before of NFTs, and some successful examples of P2E companies leveraging NFTs and blockchain technology to create a massive ecosystem of gamers who are constantly playing and selling their assets – all inside a highly scalable in-game economy.
The P2E industry, also known as GameFi, started booming in 2021 – a year when the blockchain-based game Axie Infinity became a worldwide hit with roughly 3 million active users in November of that same year. Soon after, inspired by the success of Sky Mavis – the studio behind Axie Infinity – numerous startups and NFT-based games projects were being created almost every day.
By early 2022, Axie Infinity surprised the world by becoming one of the highest revenue-generating gaming companies in the world with over $4 billion in sales. Companies of all industries are …
Full story available on Benzinga.com