By ADMIN / Oct 28, 2022
The idea of playing games to earn money might have sounded like the biggest oxymoron of all time until recently. Today, just like how every leisure activity can become a standard source of income, gaming has also acquired that garnish, making it maybe not a serious profession (at least not yet!) but definitely a dependable source of gig income.
We have seen how this idea of gig income has benefited not just people but the overall economies of certain countries like the Philippines, Vietnam, and Thailand.
This only goes on to prove that P2E games are a dependable source of income, and their dependability is bound to increase in its magnitude as time passes.
What makes the entire proposition of economies driven by P2E games lucrative is that it is not dependent on factors that influence the mainstream economy… Like the currency value against the US dollar for example. This would mean that even developing economies can make use of this avenue of earning, enhance the standard of living, have a positive impact on statistically important numbers like GDP per capita, and overall make the entire economy of the country better.
If there is one country that has all the credentials to benefit from P2E gaming, it has to be India.
India has one of the largest millennial/Gen-Z populations that has shown an extraordinary enthusiasm toward gaming. It is to be noted that this enthusiasm was intense even before P2E gaming was not into consideration. If there is a possibility that people can earn by playing games, this enthusiasm is only going to increase.
India is always shown a welcoming attitude towards earning opportunities, and they are fine with experimenting with new avenues. P2E is one of those opportunities that confluences entertainment and earning, and it is sure that India, as a developing economy, will be enthusiastic about embracing this new earning opportunity.
India has always been an emotionally charged country. By giving games that connect with the emotions of an average Indian, you can expect the crowd to participate in the game without any attenuation in energy. One good example would be the game of P2E cricket. Meta Cricket League, the world’s first P2E cricket game introduced by Jump.trade, has seen quite a lot of the subcontinental crowd participate and earn big rewards.
There has always been an inclination towards “investing” for Indians… Although it might not be in the traditional context of stocks and real estate, it is quite likely to be in gold. With P2E games coming in, gaming would no longer be considered a waste of time but rather an investment. Since the gaming assets are most likely to be NFTs, they can be traded on marketplaces, giving the spending on games the best value for money.
With NFTs and P2E games and the associated earnings coming into the purview of the regulatory system of India, people do not even have to be worried about the legality of their earnings. This is one more positive step in the right direction because India has been quite progressive in regulating this space that most countries have failed to do.
Considering all these factors, the time is perfect and congenial for India to capitalize on this new wave of P2E gaming, and it could be one of the silver bullets that India needed when it comes to boosting the economy of the country.