The gaming industry has come a long way since a small, pixelated ball bounced between two Pong paddles back in 1972. In the years since, it’s gone through ups and downs, almost collapsing completely during the video game crash of 1983. But today, it’s stronger than ever. And some analysts are predicting it could be valued at over $314 billion by 2026.
But there are monumental changes on the horizon that could utterly transform the video game industry, making it more player-driven than ever. The internet, blockchain technology, and crowdfunding are allowing gamers to take a bigger role in game development. And that won’t just make for better, more engaging games. It will spur even more growth in the industry.
And that’s good news for game developers and consumers alike.
What is P2E Gaming?
One of the most exciting concepts driving the player-centric revolution within the video game industry is play-to-earn (P2E) gaming. In P2E games, gamers get the opportunity to earn real money while playing the games they love.
Players purchase in-game assets as NFTs which they can then use as they play, earning real world rewards and other NFTs in the process. Many of the available NFTs grow in experience and power, making them more valuable. Players don’t just have the ability to earn income as they play, they can rent out or sell their assets to other players.
How is P2E Gaming Changing the Video Game Industry?
In addition to earning an income from playing games, many P2E games give players the chance to join their decentralized autonomous organization (DAO). A P2E game’s DAO will let members have a role in the future development of the game, giving them the chance to vote on future content. In addition, entire communities are cropping up around the most popular games with the help of platforms like Discord. And it’s not just players who are in these communities. They’re often run by the game’s developers.
This is leading to a major transformation within the game industry as a whole. Instead of doing their game development work apart from the fans, developers are being brought into the room with fans thanks to P2E gaming and gaming DAOs.
The Future of the Video Game Industry
As P2E game creators cultivate closer, more tightly-knit communities around their games, gamers will get used to the idea of playing a role in development. They’ll enjoy the excitement of voting on expansions and future content. And they’ll get more and more used to the idea that such a model is normal. As that happens, they’ll begin to demand the same kind of connection with other, more traditionally minded game developers. And this will lead to a video game industry that’s more focused on pleasing its customers.
Over the past two decades, the video game industry has already become far flatter and more democratic than it was at its birth. Unity and other game creation tools have made it possible for small, indie creators to find incredible success. And the internet has led to countless video game content creators becoming video game creators as companies have noticed their talent.
The P2E gaming revolution that’s upon us will only lead to a further flattening of the industry. To put it simply, gamers are standing on the cusp of a transformation that will make them more than just the lead characters in their favorite games. They’ll be the ones driving the creation of those games.
