Video games were classified as a form of art by the U.S. National Endowment for the Arts a whole decade ago, but the video game industry continues to inspire and get exciting as the days go by. The most recent introduction of play-to-earn video games is what has changed the whole industry once again.
The blockchain-based decentralized play-to-earn (P2E) are all but about to change how virtual, as well as real economies, are viewed. The technological advancements afforded to the financial market via cryptocurrencies have expanded much of the world for people interested. The same has been afforded to the video game industry via play-to-earn video games.
Through NFTs, the boundaries between what is tradeable get blurred. Non-fungible tokens are a way through which almost any kind of art, identity, or work on the digital space can be traded and sold for money. It brings the potential to make a virtual economy of an unprecedented nature, not imagined before.
The route of play-to-earn video games now makes people who are active players, athletes, with many official authorities in the matter consider them so. Decentralized p2e games are making it possible for gamers to have their own means of income by relying solely on a game, and being good at that game. Players play solo or in teams, and make a viable sum of money to get by. Developing economies are also taking charge in this industry, with countries such as Vietnam and the Philippines having millions of users and billions of dollars worth of industry.
This new form of income generation via play-to-earn video games is reshaping how people view labor and leisure. Since video games have been a way of entertainment, recreation, and a tool to unwind from work and other serious matters in life, this new shift is changing the way people view the entire leisure-labor experience.