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Play-to-Earn is a concept where users come into the ecosystem to play and earn rewards. Many gaming organizations are interested in this notion, but one company focuses on the metaverse instead. They are entirely different from the conventional video games the majority of individuals are familiar with.
P2E games offer distinct rewards to users via crypto assets and non-fungible tokens. Players are usually required to pay a certain amount before they can actually ‘play’ the game. But there are several games that do not ask for a deposit to play. These games can be risky, especially the ones asking for funds before letting the individuals enter the virtual world. The reason is the uncertainty of activities getting successful, resulting in players’ loss.
Meanwhile, Phil Spencer, the Xbox head, has spoken about his thoughts regarding play-to-earn gaming. He believes that these games are just a way to pile up the crypto assets and nothing more. This is due to the low status of some play-to-earn games. But the monetization aspect of these games is what creates a spark to play them.
Phil appeared a little concerned about these ecosystems as they are designed to fuel their own economies. But he also pointed out the positive aspect of the play-to-earn environment. He said they could be pretty valuable in specific areas, but he failed to specify which areas they were.
Phil Spencer is thinking highly of the metaverse, which is clear from his speech with Bloomberg. He unveiled that many gamers remain quite active in the virtual worlds for years to come, despite their scarce knowledge regarding the notion. He said ‘Metaverse creates a three-dimensional space for players to bring new kinds of interactions in the space.’
The Xbox CEO’s thoughts are similar to Microsoft CEO Satya Nadella’s. Both individuals have said that metaverse gaming needs improvement. Though Spencer saw a requirement for a few betterments in the space, he never appeared cautious about that.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
