Reddit founder predicts 90% of the game market will be Play-to-Earn in the next 5 years

Reddit co-founder Alexis Ohanian has predicted that 90% of the gaming market will go Play-to-Earn within the next 5 years. Ohanian said the emerging game model using blockchain technology will allow people to earn significant amounts of money just by playing games.

“People aren’t going to play games unless they’re worth it at the time,” Ohanian said on the Where it Happens podcast.

“In 5 years, you will actually spend your time properly and instead of being the object of advertising, or splashing money on stupid items you don’t really own, you will play some blockchain games, not only will it be fun but you’ll actually earn something of value and you’ll be the harvester.”

The virtual economy impacts arising from Play-to-Earn games and blockchain have been documented in Kraken Intelligence’s annual crypto report.

“ The implications of this model are revolutionary for the gaming industry, especially in an age where users spend real money on in-game assets like Fortnite, which already generate billions of dollars in revenue, ” he said. the report said.

In early versions of this game model, such as the Pokémon-style game Axle Infinity, players could earn around $500 per month from in-game rewards.

Kraken Intelligence says Play-to-Earn can take a variety of forms, from advertising on a character or a player’s avatar with a company’s logo, to providing services in the metaverse. Services may include driving a virtual train, or performing a concert in the virtual world.

“In the near future, it is possible that more people will make their careers from participating in the metaverse, constructing digital buildings, hosting virtual events, and playing games through Play-to-Earn mechanics,” according to the report by Kraken.

Reference: Independent