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The prevalence of work-from-home lifestyle and the recent pandemic continue to fuel the demand for play-to-earn games and NFTs are right in the middle of it. Before the epidemic, P2E games’ popularity was high but after the pandemic, it broke every record and has continued to climb ever since.
A recent survey conducted by Finder, which surveyed 43,312 people across 26 countries, found that play-to-earn games are becoming increasingly popular, and countries like India, Hong Kong, and Switzerland seem to lead the charts.
Play to earn NFT statistics
According to the study, P2E-based non-fungible token games are experiencing increased popularity in India, where 34% of Internet users admit to having played such games. At the same time, 7.5% of the respondents said that they keep playing P2E games to date. The statistics show also show that 55% of Indians are unaware of P2E games, and yet India remains at the top of the list. This, of course, is most likely due to the sheer size of the country’s population, which is the second largest in the world, right after China.
As per this study by Finder.com, players in developing nations are more inclined towards NFT games. For example, there is a 25% adoption rate in Philippines, 23% in Vietnam, 19% in Malaysia, and 18% in Brazil.
The same data highlights that 11.4% of the studied demographic intends to play a play to earn game within the next six months, and that includes NFT games too. This may result in India’s adoption rate reaching 45% within the next few months.
Weak male dominance
Based on the data, nearly 1.1 times as many men as women play play-to-earn crypto games, making up 31% of all respondents that took part in the study.
The report also shows that the P2E popularity gender gap will increase somewhat by the end of this year, with 40% of men planning to play this year compared to 34% of women, indicating that males will have played 1.2 times more NFT games by 2022.
Study By Dappradar
In another study done at Dappradar, the blockchain-based gaming business attracted more than $2.5 billion in investments in the first quarter of this year. According to estimates, total investment size might reach $10 billion by the end of the year if the rate persists.
While cryptocurrencies and NFTs suffered a recent market crash that wiped out hundreds of billions of dollars in market value, prominent advocates of blockchain-based assets continued to push for a technological future based on cryptocurrencies and NFTs all over the world.
France will have experienced the most significant adoption of NFT games by the end of 2022, with the number of people playing NFT games predicted to increase from 6% to 15%, translating to a 2.6-fold increase. Conversely, Spain’s share will decrease from 18% to 17%, whilst Peru’s share is set to rise from 13% to 29%.
Another interesting data pack brings us to ‘Who would have thought’ moment. The play to earn gamers in India are not the teenagers, but the 55+ year olds!
The report also published a prediction of current and future NFT gamers around the globe, which indicated that another 16.9% would join the existing 16% that are already playing the game in Nigeria.
Participants from Sweden were the least likely to have played P2E games, with only 4.3% saying they had already played the P2E game and another 4.1% saying they will do so in the future.
Surprisingly, developed countries like the USA, Canada, France, Spain, Germany, and Switzerland had a lower percentage of participants who had never played P2E games.
Bottom Line
The P2E NFT industry acts as the beginning of something great for crypto as well as the gaming industry. The fact that players are now earning money while playing games means that people have a real incentive to spend time, playing the games, and it is exactly what advertisers and game developers need. This has opened up more opportunities to earn and in the years to come, there may be closer relationships between studios and users, which proves that the P2E NFT gaming revolution is just getting started.
