Why is Play to Earn on The Rise? How Our Upcoming Decentralized World Capitalizes on This Gaming Revolution
Video Gaming’s Mass Popularity and Global Usage
Video gaming has become one of the most popular hobbies across the world and is expected to be the mainstay form of entertainment going forward. This assumption is based on the fact that video gaming’s current market evaluation is at ~$170 billion, and is expected to reach over a quarter trillion dollars within 5 years. However, many industry experts are pondering if video gaming will remain just a form of entertainment, or evolve into something that becomes essential to the world’s society.
Gaming History and Past Evolutionary Trail
Video gaming has taken on many evolutions since its origin in November 1971 when the company Atari released the game Computer Space, becoming the first commercially available arcade video game. Proceeding this timeline with ~50 years of development to where we are currently; 3 major improvements were made in video games: Graphics, in-game complexity, and real-world connectedness.
How Video Games Can Simulate Real Life Societal Interactions
While the first 2 improvements can be justified with progressive upgrades to game consoles and PC hard drives, the connectedness aspect is unique in how it developed. By the creation of the internet, games that were once only cooperative if a fellow player was playing on the same console as yourself, now became interoperable with the entire world. By allowing instant access with anyone in the world, one could reasonably argue that world systems, such as finances or political decision-making, could be both simulated and actually performed to create real-life changes within these games.
Centralized Gaming Companies Disallow Real In-Game Finances
While attempts for these were done by players in popular Massive Multiplayer Online (MMO) games such as World of Warcraft or Runescape, it was actually considered an illegal action by players to trade in-game items or change components of the world’s creation due to these centralized companies having proprietary control of all in-game components.
Blockchain Liberates Gamers to Earn Real World Value Within the Game World
Now, we have Blockchain technology; by using this ingenious technology on the back-end of current video games, 2 things can be achieved. One achievement is that, due to the decentralized nature of distributed power input onto the network, there’s no centralized ownership of the item within the game ecosystem! This means that, while centralized companies can legally disallow you from selling your hard-earned character or inventory, a blockchain game cannot and will not. In contrast, blockchain game actively promote a marketplace where everyone’s owned in-game assets, in the form of an NFT, can be freely traded amongst each other, thereby promoting things like a bustling in-game Auction with real monetary value ingrained into it (see our upcoming Auction for exclusive in-game assets for the upcoming PolkaFantasy Play-To-Earn Game).
How Blockchain Gaming is Setting Up The Jobs of the Future
The promotion of trading and ownership of items brings us to the next point; In-game financial legitimacy and effectiveness. Since Blockchain is superior to conventional banking systems in relation to the effectiveness and safety of financial transactions, it would make fundamental sense that Blockchain would work very similarly from person to person as it would from in-game character to character.
How Does the Gaming World Have Real World Value?
What’s more is this internalized finance promoting marketplace trading has transaction fees associated with it, and these fees collectively get re-distributed to in-game environmental NPCs. What this means is that these NPCs become monetized, and any interaction with them from your character can allow a certain amount of money rewards. This means that PVE is play-to-earn, and through player-player transactional capabilities, PVP is also play-to-earn. This means that every fundamental piece of a game, and all the skills acquired in expertizing in that game, can be monetized for real-world money.
Steps to Turn In-Game Items into Real World Money
But how exactly can these in-game NFT items actually become true currency? Well, Blockchain has stablecoins that are pegged to a country’s currency, such as USDT to the US dollar. Using established Blockchain DeFi platforms, these in-game currencies can be seamlessly traded out to stablecoins like USDT, and from there the USDT can be converted into US dollars through credible financial institutions.
Current blockchain gaming Market Success
All in all, did the ingenuity of blockchain game reach their target audiences? So far, the answer is an astounding yes; With Axie Infinity, a popular Play-to-Earn game, reaching a $215 million market evaluation and providing a 18,000% profit for their investors, one could reasonably assume that this evolution of video gaming will be successful both from a logical and economical standpoint.
First Ever JRPG blockchain game: The World of PolkaFantasy
However, there is a massive and untapped niche in the blockchain game marketplace thus far. Japanese RPG (JRPG) has been adopted by the masses ever since the famous Final Fantasy series debuted in 1987 in Japan and 1990 in North America. That is why we are incredibly excited to announce to our newcomers the PolkaFantasy World, a blockchain game that aggregates all the best of JRPGs into one ecosystem. This is a world that will provide industry-leading peer networking capabilities, and assure that this internalized finance and Play-to-Earn mechanics will be ingrained into every aspect of this blockchain game. We wanted to make sure that this game was not only optimized from an earning standpoint for our players but could also sit on the same tier level as games like Final Fantasy. Thus, finally ushering the presence of AAA-level games on the blockchain.
Learn From the Best!
In this respect, we have the Former COO of Square Enix Daishiro Okada on our team as a Strategic Advisor!
An Upcoming Lore Like None Other
PolkaFantasy will have all the excitement and strategic planning that was embedded in conventional JRPGs, but will be combined now with internalized finances where people can wager their skills and earn real-life currency as a result! A place where every voice matters and any player can input their votes to dictate how the game world develops. The near future will truly be a place of endless possibilities.
PolkaFantasy is the BEST Japanese NFT cross-chain marketplace & multiverse game, built for NFT lovers by NFT enthusiasts. Inspired by Japanese Animation, Comics, and Games (ACG) culture, PolkaFantasy is an immersive platform to discover, create, trade, and interact with any digital collectibles.
Our goal goes beyond a breathtaking marketplace and truly gamified DeFi. PolkaFantasy is all about the BEST user experience. It is also a full-fledged game with unbelievable #GameFi and play-to-earn elements.
Let’s be our hero in this epic journey to explore the infinite potential of digital assets.
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Telegram Channel (Global): https://t.me/PolkaFantasyEN
Telegram Channel (Japan): https://t.me/PolkaFantasyJP
Telegram Channel (Chinese): https://t.me/PolkaFantasyCN
Telegram Channel (Vietnam): https://t.me/PolkaFantasyVN
Telegram Channel (Thai): https://t.me/PolkaFantasyTH
Telegram Channel (Indonesia): https://t.me/PolkaFantasyID
Telegram Announcement: https://t.me/PolkaFantasyOfficial
Blog (Japan): https://note.com/polkafantasy