“Many are ready to quit their other occupations to play NFT games instead,” claimed the CEO of NFT gaming platform Balthazar.
Despite falling nonfungible token (NFT) prices, play-to-earn NFT gaming continues to grow in popularity as more individuals perceive it as a viable source of income.
In a survey done in the Philippines, 32 percent of respondents stated that if NFT games allowed them to work full-time, they would leave or contemplate quitting. “Not shocked by the findings,” said John Stefanidis, CEO of NFT gaming platform Balthazar.
“Many people are willing to give up their other employment in order to play NFT games because they can possibly earn the same, if not more, money.”
In an interview, Filipino gamer Jesus Dawal Jr. stated that the earnings from NFT games are now insufficient. “While blockchain gaming is without a doubt a revolutionary concept, I don’t believe it will be adequate to support me financially on its own,” Dawal remarked. He does say, however, that he’ll be ready to get in when the ecosystem matures further.
“Once the P2E ecosystem is mature and viable, I believe I will have enough guts to leave my work and pursue blockchain gaming.”
Luis Buenaventura, the country manager of blockchain gaming company YGG Pilipinas, believes that there is a clear trend of people quitting their jobs to pursue full-time careers. “For better or worse, the trend of people quitting their jobs for P2E is definitely picking up,” he stated when asked about the matter.
However, the blockchain gaming executive points out that crypto chances are growing in popularity alongside blockchain gaming. “It’s just as probable that people are finding alternate income prospects in crypto in general, rather than simply P2E,” he said.
“Gaming income and produce farming income are not mutually exclusive activities, and many of our most successful members do both.”
NFT gaming earned over $2 billion in revenue in the third quarter of 2021, according to a report by the Blockchain Gaming Alliance (BGA). According to the BGA, this accounts for 22% of NFT trading volume.
The blockchain gaming community has showed an altruistic side in addition to collecting cash. When a super typhoon struck the Philippines last year, affecting 4 million people, blockchain gamers lead by YGG organised a fundraising campaign that raised over $1.4 million to aid the victims.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.