Who makes money when you spend hours playing games online?
Blockchain gaming giving a boost to the creator economy
It is not the actual game developers and definitely not the players. In reality, a majority share of the pie ends up with IP owners and publishing platforms. The largest-ever tech acquisition deal between Microsoft and Activision is just another example. And what about the actual players like you and me? What happens to those fancy in-game uniforms you unlocked or the in-game coins you collected jumping across roofs? Once you shut the game down they are all worth nothing. Sandbox, a web3 game on an Ethereum chain, is attempting to change this equation with its Play-to-earn model.
Sandbox has 3 key components:
1. ๐๐จ๐ฑ๐๐๐ข๐ญ- Create your art(avatars, buildings etc.) and mint it as an NFT.
2. ๐๐๐ซ๐ค๐๐ญ๐ฉ๐ฅ๐๐๐- Buy or sell these NFTs on Sandbox marketplace.
3. ๐๐๐ฆ๐ ๐๐๐ค๐๐ซ- Use creativity to build a game around these NFTs that invite others to play.
๐๐จ ๐ก๐จ๐ฐ ๐๐จ ๐ ๐๐ฆ๐๐ซ๐ฌ ๐๐๐ซ๐ง ๐ฃ๐ฎ๐ฌ๐ญ ๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐ข๐ง๐ ?
1. By selling your creative NFTs (avatars, buildings etc).
2. Charge others to play the games you designed.
3. You may earn by renting or selling your land. As land is scarce in the game with only 1.66 lakh plots available, value of the plot keeps appreciating with time. I checked today on Openseas, even the cheapest land available had a price tag of around INR 2 lakhs. Imagine you buy this land and a few days later SnoopDogg buys another land next to yours on Sandbox-which he actually did, or your neighbour creates a Casino or anything that is of value- your land price skyrockets as a result.
๐๐ซ๐ข๐ฏ๐ข๐: Post covid, many in Philippines left their full-time jobs to earn from these NFT games. Number of players on Axie infinity, another play-to-earn game, increased from 30,000 to 10 lakh in a span of 4 months during the pandemic. Interestingly, most of the newly acquired users were from developing nations such as the Philippines and Venezuela.
