Monday, May 16

Pay-to-play games will dominate the industry, says Reddit co-founder

5 years from now, with the growing popularity of cryptocurrencies, games that pay players to play (play-to-earn) will be the only games that will hold people’s interest, according to Alexis Ohanian, co-founder of Reddit.

“90% of people won’t play a game unless they’re getting paid properly”, he said on the “Where It Happens” podcast.

Play-to-earn games are cryptocurrency-based games that have grown in popularity around the world in 2021. Among the best known are Axie Infinity and The Sandbox.

play to win

Although the blockchain gaming market has reached a few billion in value in the past year, it is still a tiny fraction of the total gaming industry, and the valuation of many blockchain games seems questionable and entirely dependent on a highly speculative and fluctuating token economy.

The biggest game developers still don’t talk much about it, Take-Two, EA, Ubisoft and Square Enix have already given signs that they are studying the market, but we still haven’t seen any success on the ground from any of these companies in this space.

Despite this, the Reddit co-founder argued that in five years, more people would start to value time, and so would start charging these companies to move toward things that will pay for their time.

He also added that “instead of being harvested for ads, you’ll be playing an equivalent game that will be fun but be the harvester.”

new market

In addition to earning money, play-to-earn games also allow players to gain control of their own gaming experiences with utilities that allow them to build, own, and monetize their games.

Cryptocurrency industry analysts expect to see more popular gaming franchises adopting cryptocurrencies in 2022 and more players flocking over time to play to win across the world.

More than that, play-to-earn offers a basic entry point for entrepreneurs, independent developers and investors to increase their reach and experience – which will benefit even startups.

That is, a win for most people, not just gamers.

Alexis Ohanian also said that most people will join a DAO (Decentralized Autonomous Organization) in the next five years.

DAO is a term that refers to a bunch of internet contacts coming together for a common purpose.

“User experience trumps everything. So yes, I think it will be quite common. Maybe not all of them, but for all intents and purposes it will be a pretty normal thing.”

He also hopes that people will be more considerate of their identities online than those in the real world, saying that “they will care more about some pseudonym they invented than the name of the identity”.