According to Newzoo’s report, the gaming industry is expected to generate revenues of $175.8 billion in 2021, representing a slight decline of 1.1% during the year. However, the slight decline in gaming industry revenues is no cause for concern. The report forecasted an unprecedented 2.96 billion players in the gaming industry globally by the end of the year.
Despite the slight decline in the gaming industry, one specific industry sector has witnessed explosive growth over the past year, play-2-earn games or the GameFi sector.
Blockchain technology has revolutionized the gaming industry by allowing gamers to earn or farm cryptocurrencies directly by playing online games. Labeled Play to Earn games, or P2E, players earn crypto while playing and sell the coins in the market to get real dollars.
As such, gamers have created economies & communities around these P2E games, impacting how players create value on digital goods and services and the spread of the games to every corner of the globe.
While these gaming communities are built and played to make money and earn an additional income, some projects are extending their features to make a ‘big difference’ in the gaming communities. Over the past few years, the barriers to entry such as high costs, skill, and geographical closures mean new gamers are locked out of the industry, denying them a chance to earn.
Notwithstanding, the lucky players who can join the gaming economies are subjected to choose 1 or 2 games, which could be a risky move given the volatility in the crypto market.
Liberty Gaming, a blockchain-based P2E game, launched a new project and community, the “Liberty Gaming Guild” in November to diversify the risks associated with gaming. Provide education, training, and mentoring support in gaming and assist in creating stability for gamers in their play-to-earn careers and their lives.
All participants in the GameFi industry are welcome to join the platform and enjoy a portfolio of seven games that gamers can invest in all at once to diversify their gaming portfolio.
As gamers struggle to build successful and profitable portfolios, Liberty Gaming has selected the best gaming platforms for investors, including Axie Infinity, The Sandbox, League of Kingdoms, Star Atlas, Guild of Guardians, and Illuvium. Investing in Liberty Gaming Guild spreads investments across the seven games at any given time, hence reducing the high costs and risk exposure to gaming projects.
Additionally, players on Liberty have a spread of earning opportunities away from the games, including staking, lending in-game NFTs, and other DeFi related earning mechanisms.
While most gaming ecosystems differ from feature to feature, the need for diversified games is crucial to continue the growth of the decentralized gaming industry. Unlike the earlier blockchain games, which applied the random chance technique when rewarding players, P2E games like Liberty Games Guild have created a business model and in-game economics where players and gamers can easily invest and earn from interacting with the games available.
Finally, having a one-for-all shop to earn from P2E games helps players diversify their skills, income and lower their risks – giving them a better and easier-to-use platform to start earning from playing games.