• Reddit co-founder Alexis Ohanian has reiterated his belief that “play-to-earn” gaming is the future.
• Play-to-earn games reward players with crypto or non-fungible tokens (NFTs) in exchange for their gameplay achievements, wins, or time invested.
• Ohanian points to the successful sales of virtual assets as evidence that games will inevitably adopt the play-to-earn model on a broader scale.
Alexis Ohanian Believes Play To Earn Gaming Is The Future
Reddit co-founder and General Partner of venture capital firm Seven Seven Six, Alexis Ohanian has expressed his conviction that “play-to-earn” gaming will become standard in the next five years. Despite recent declines in Axie Infinity, a leading play to earn game, he believes most gamers will demand proper value for their time spent playing within the next five years.
What is Play To Earn?
Play to earn games reward players with crypto or non fungible tokens (NFTs) upon achieving certain objectives such as winning a game or investing time into it. These rewards hold tangible value as gaming crypto tokens can serve as a store of value and can be used across multiple games allowing players to monetize their expertise and investments.
Why Is Ohanian So Confident?
Ohanian is confident about the success of play to earn gaming due to its success in various other games such as Entropia Universe’s Club Neverdie and Counter Strike’s Global Offensive skins which have achieved six figure sales volume. Additionally, while Axie Infinity suffered a significant downturn in early 2022, it still managed $4 billion worth of NFT trading volume which serves as further proof of its potential according to Ohananian.
What Benefits Does It Offer?
The main benefit offered by play to earn gaming is that it allows players to accumulate virtual assets with real world worth which they can then freely trade or sell for actual money. This system encourages investment into video games and rewards players for their hard work instead of simply focusing on entertainment value alone.
In conclusion, Alexis Ohanian remains steadfast in his conviction that play to earn gaming will prevail over traditional video game models due its numerous benefits such as allowing players to monetize their skills and investments while also encouraging investment into video games themselves through engaging systems like NFTs