While the price of non-fungible tokens (NFTs) has dropped, play-and-earn NFT games continue to grow in popularity as more people view them as a potential way to earn a living.
In a survey conducted in the Philippines, 32% of respondents said they would quit or consider quitting their jobs if NFT games allowed them to work full-time. John Stefanidis, CEO of NFT gaming platform Balthazar, said he was “not surprised” by the findings.
"A lot of people are ready to quit their other jobs and play NFT games instead, because they may get the same income from playing NFT games, or even more."
Filipino gamer Jesus Dawal Jr. said in an interview with Cointelegraph that the current revenue from NFT games is not enough. Dawal said: "There is no doubt that blockchain gaming is a revolutionary concept, but as it stands, I don't think it is enough to sustain my life on its own." However, he also pointed out that when the ecosystem develops further , he was ready to plunge into it.
“I think that once the P2E ecosystem becomes mature and sustainable, I will be brave enough to leave my job and work on blockchain games.”
Luis Buenaventura, the country manager of the blockchain game organization YGG Pilipinas, also believes that there will definitely be a trend of resigning to work full-time on NFT games. When asked about the topic, he told Cointelegraph that “for better or worse, the trend of people quitting their jobs to do P2E is definitely picking up.”
However, the blockchain gaming executive pointed out that not only blockchain gaming is on the rise, but also opportunities for cryptocurrencies. “It’s also possible that people are looking for other revenue opportunities in crypto, not just P2E,” he said.
“Revenue from gaming and yield farming are not mutually exclusive activities, and we see many of the most successful members doing both.”
As early as 2021, a report by the Blockchain Game Alliance (BGA) showed that NFT games generated more than $2 billion in revenue in the third quarter of 2021. According to the BGA, this accounts for 22% of NFT trading volume.
In addition to generating income, the blockchain gaming community also exhibits a charitable side. Last year, when a super typhoon hit the Philippines, affecting 4 million people, blockchain gamers led by YGG organized a donation drive that raised over $1.4 million to help the victims.
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