CHICKEY CHIK
Search…
Introduction
Play-to-Earn Gaming Space
Online gaming has been an integral part of the world-wide audience and is a prominent pastime activity for over two billion people. In 2019 alone, the gaming industry brought in revenues of over US $120 billion. Every year, the online gaming industry grows at such a rapidly increasing pace that it is now estimated to be valued at US $173.70 billion and is predicted to increase to a quarter trillion dollars over the next five years (Winder, 2021). In 2020, video gaming players spent up to US $4.5 billion on VR gaming or immersive gaming, and therefore a huge potential is arising for the space (Business Wire, 2020).

Global Gaming revenue (Source: Newzoo)

Global gaming revenue is expected to reach $200 billion in 2023, with no signs of slowing.

Gaming models

Gaming models are constantly evolving and are currently broadly categorised into free-to-play, pay-to-play, and most recently, play-to-earn (P2E).

Pay to Play

This is a traditional gaming model that has a pre-requirement to purchase the game before playing. It has been the most popular model in traditional gaming. However, it is not inclusive to all aspiring gamers as an upfront payment is required, which may not be an option available to all individuals. Popular examples of this style of gaming are Grand Theft Auto and Assassins Creed.

Free to Play

This model requires no upfront costs and allows a gamer to play for free. It is currently the most popular in the mobile gaming industry (Bityard, 2021). Creators of free-to-play games can now make revenue through add-ons such as extra tools, skins, and special coins in their games. These are all choice-based and not deemed necessary. Examples of free to play are Fortnite and Apex Legends.
Copy link
On this page
Global Gaming revenue (Source: Newzoo)
Gaming models
Pay to Play
Free to Play