Play to Earn industry trends for 2023

In the last few years, we have seen the rise in popularity of decentralized finance (DeFi), the proliferation of non-fungible tokens (NFTs) in various industries, and a huge interest in the play to earn segment from players and investors.

Play to Earn is no longer a novelty, but a rapidly developing technology. In 2023, it will be characterized by the globalization of the trends described below.

In recent years, the popularity of mobile games has skyrocketed. The mobile gaming industry is expected to reach $221.7 billion in revenue by 2027.

One of the key reasons for the growth of this segment is the widespread adoption and performance improvement of smartphones and tablets. These devices are portable, convenient and affordable. In addition, the proliferation of 5G networks is expected to further boost the popularity of mobile games as they provide faster and more stable connection.

In 2023, the percentage of cross-platform games will increase. The ability to play a game on multiple devices or platforms such as PCs, consoles, tablets and smartphones is becoming more and more desirable as more and more people own multiple devices and developers strive to reach a wider audience.

One of the key benefits of cross-platform gaming is that it allows players to switch between devices without interrupting the process and wasting time or in-game items. This can be especially useful for players who tend to play on the go or want to switch between different types of devices.

In 2023, cross-platform games will provide more new opportunities for earning and monetization. For example, developers can offer cross-platform in-game challenges that can be completed on any device, allowing players to earn money no matter where they are or what device they use. Successfully implemented examples of cross-platform Play to Earn solutions are Axie Infinity, Star Atlas, The Sandbox.

Decentralized finance (DeFi) refers to financial applications based on blockchain technology, which allows users to access a range of financial services without the need to involve any intermediaries. In recent years, the popularity of DeFi has increased dramatically, moreover, there are no signs of a slowdown in growth rates.

One of the key benefits of DeFi is that this technology allows users to access financial services more easily and securely. Transactions are recorded on the blockchain, which makes them transparent and immutable. In addition, DeFi applications are often built on smart contracts, in which the terms of the agreement between the buyer and seller are written directly into lines of code.

In Play to Earn, players can use DeFi protocols to trade in-game items more securely and transparently, obtain credit using in-game items as collateral, and so on.

On the Gameflip marketplace, players sell different digital assets from different games. The cost is from several to several hundred dollars.

In the play to earn industry, NFTs have provided an easy way to earn, buy and sell in-game items. In addition, NFTs allow players to verify ownership of rare and valuable in-game items, which can be an important asset for collectors.

In the Play to Earn industry, community building is becoming an increasingly important way for developers to retain and attract new players. By building a strong community around their games, developers can offer better terms and conditions, resulting in higher retention and monetization rates.

Developers interact with their communities in a number of ways, including through social media, forums, and in-game events. By actively listening to player feedback and involving the community in the development process, developers are not focused on investors, but on the interests of direct participants.

Artificial intelligence is increasingly used in the gaming industry. For example, it can be used to create procedurally generated levels or realistic and dynamic non-player character behavior.

In Play to Earn, AI can create new earning opportunities for players. For example, it can be used to create in-game challenges tailored to each player's skill level, allowing for a more personalized experience. In addition, artificial intelligence can be used to automate certain in-game tasks, allowing players to focus on more complex and rewarding tasks.

Blockchain technology has already provided a revolution in the gaming industry, as it is used in a number of games in which players earn money. Using blockchain technology, developers can create more transparent, secure and decentralized games.

One of the key advantages of blockchain games is that they allow players to own their in-game items and assets not being afraid of their safety. This means that players can be sure that their in-game items really belong to them and that the developer cannot take them away. In addition, blockchain technology allows players to easily exchange their in-game items on decentralized exchanges, creating new opportunities for earning and monetization.

The leader in terms of the number of players among all blockchain games in 2022 is Alien Worlds.

Subscription is becoming an increasingly popular method of financial cooperation in the Play to Earn segment. By offering players a monthly subscription to access in-game content and other features, developers can create a more stable and predictable revenue stream. Additionally, a subscription allows for a more loyal and engaged player base, as players are more likely to stay loyal to the game.

The very fact of the need to make a payment does not bother the players, because in fact we are talking about buying the opportunity to earn!

Hybrid monetization models mean using multiple monetization strategies within the same game. For example, a game may offer in-app purchases, advertising, and subscriptions as ways for players to earn money and developers to monetize the game.

By offering a variety of monetization options, developers can cater to different player preferences and monetization strategies, and players have more flexibility in how they earn and spend in-game. In addition, hybrid monetization models help create a more stable and diverse revenue stream for developers.

Live streaming and cybersports are trends closely related to the Play to Earn industry. Live broadcasting includes the broadcast of gameplay or other content for an amateur audience, whereas cybersport is a competition at a high professional level.

In Play to Earn, live streaming and cybersports create new opportunities for earning and monetizing. For example, players can earn money through sponsorships, ad revenue or donations from their live streams, or through prize money and sponsorship in cybersports tournaments. In addition, live streaming and cybersports help build a tight-knit community around the game, which can lead to higher retention and monetization rates.

In 2023, Twitch and YouTube will continue to be the most popular live streaming platforms.

When we consider the future of the Play to Earn industry, it becomes clear that its perspectives are very bright. The development of DeFi, the active implementation of NFT and other factors confirm that Play to Earn is not just an alternative, but in many ways a replacement for classic gaming.

In addition to trends and technologies, Play to Earn is both the excitement of competition and the joy of team participation. In 2023, there will definitely be more people for whom the gaming process is not recreation or entertainment, but, above all, making money.