- Crypto gaming, Play-to-Earn, and metaverse were all hyped up in 2021.
- The prolonged 2022 bear market plummeted most of the hype.
- Play-To-Earn niche lacks noteworthy games.
Crypto gaming and the metaverse were all the rage in 2021. The industry experienced a paradigm shift when play-to-earn games and the metaverse took over the cryptocurrency realm. However, crypto investor and trader Lady of Crypto believes that even amidst the hype in 2021, 95% of the games were crap. She also raised the question if there would be a comeback.
Some Twitter users responded to her tweet, sharing optimism about the games getting better. One user also doubted the necessity of tokens for playing games.
Moreover, the global gaming market witnessed a surge in the number of players in 2021 as more users started to dive into playing online games. It was also a time when cryptos were witnessing widespread adoption globally. Thus, the integration of cryptos into the gaming realm paved the way for play-to-earn games.
The crypto community observed that the hype seemed to have cooled down during the prolonged bear market of 2022. However, innovations in the crypto realm are on a never-ending loop, as the community expects the metaverse and play-to-earn games to make a comeback.
Amazon recently announced its plans to launch an NFT initiative that focuses on blockchain gaming and NFT in 2023. The initiative by the e-commerce giant will likely benefit the industry/ This could potentially provide a boost for the play-to-earn sector, which has been in a subtle stance for over a year.
For the uninitiated, play-to-earn games function normally, but users will be rewarded in crypto, and there will also be in-game tokens for various perks. Some of the top gaming tokens include Decentraland (MANA) and The Sandbox (SAND).
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Source: https://coinedition.com/95-of-play-to-earn-games-were-crap-in-2021-says-trader/