A recent survey revealed something that we all knew for years. The fintech company Zeebedee conducted a study among gamers in the US to learn which aspects of the crypto industry excite them the most.
A finding that caught everyone’s attention is that gamers want to receive BTC as a reward for playing instead of native NFTs.
How Play-to-Earn fails its audience
The biggest success in this sector is the game Axie Infinity. This is an auto-battler with elements of a digital collectible card game. Users buy NFTs represented by axies which are tiny magical creatures that can form teams that battle against other teams.
Each axie has unique stats and abilities, with the rarest having incredibly high numbers.
Players competing in the ranked mode received in-game currency that could be exchanged for tokens and sold on the marketplace. While the idea looked sound and reliable, the internal economy went out of control quickly, causing immense inflation and the inevitable intervention from devs.
The economy was completely rebalanced, but many players left because it was an unsustainable model for whales, who were the main driving force of the economy.
It seems that paying people with a made-up token is not the best way to ensure that the tokenomics work as intended. The survey by Zeebedee revealed that over 67% of gamers were interested in playing games that would reward them with Bitcoin.
Notably, 45% of games saw any trading between players as beneficial, while 23% said that it would negatively affect their experience. The number of people who are into the idea of receiving NFTs for playing was a measly 5% of all respondents
It is an impossible future
Having a game that would reward players with Bitcoin is highly unlikely. There are many reasons why this idea will never fly. The small percentage of people interested in NFTs in the gaming industry is also a concern for developers working on their play-to-earn games.
The industry needs a massive hit to ensure that players are interested. So far, the crypto gaming industry has produced mostly duds.