Reddit co-founder predicts 90% of games will pay users in near future
Alexis Ohanian says a play-to-earn model would give gamers value instead of them being “fleeced”
Reddit’s co-founder Alexis Ohanian has predicted that 90% of the gaming industry will adopt a play-to-earn model within the next five years.
On a recent episode of the Where It Happens podcast, Ohanian discussed the lucrative reasons behind the increase of play-to-earn games and the transformative use cases of blockchain technology within the sector.
“90% of people will not play a video game unless they are being properly valued for that time,” he surmised.
The play-to-earn gaming model is built on a blockchain network and issues in-game tokens, in the form of cryptocurrencies or NFTs, and allows users to exchange their in-game “earnings” for real-world currencies. Popular games such as Axie Infinity are already filled with microtransactions and has even seen users make a living off their earnings.
“In five years, you will actually value your time properly, and instead of being harvested for advertisements, or being fleeced for dollars to buy stupid hammers you don’t actually own, you will be playing some on-chain equivalent game that will be just as fun, but you’ll actually earn value and you will be the harvester,” said Ohianian.
It’s not the first time that the serial entrepreneur has voiced his optimism about the future of the gaming sector – which is now worth more than $200bn and is one of the largest and fastest-growing forms of entertainment.
Last year, Ohanian Tweeted that 2021 will be a “defining” year for gaming due to the popularity of cryptocurrencies and blockchain systems.