One of the Biggest Trends in the blockchain space creating millionaires of higher value than the squid game is the play-to-earn concept.
How it works is very simple. The gaming space has millions of players already, and they have several platforms to operate as a community. The advent of the internet brought gamers closer together, and the birth of platforms like discord make it possible to share anything.
When DEFI came to become a trend a year ago, and NFTs became a trend shortly after, they were really preparing the grounds for the inevitable – Gaming!
Let me simplify. To be honest, your interest in this post may have been squid game, but play to earn is creating more millionaires and nobody needs to die.
How does this all work?
Gamers usually buy many things in the course of playing games. Shields, ships, weapons, vehicles, etc. These things cost real dollars and have utility only in the game. With DEFI and NFT, games have found an interesting backdoor to mine, and guess what? These items being bought in the game now have value and the income earned in a game can now be converted into tokens which can be exchanged for other cryptocurrencies and in fact fiat.
What we are witnessing already is multiple layers of value where there are investors in the Gaming space who buy the tokens ahead of the project launch, players who need the tokens to advance within the game, real estate agents who profit from leasing properties on the gaming system to earn passive income from others or sell for capital gains, and people who play games to earn their daily income.
How real is all this? Individuals have cashed out over 45.6Billion Won in the play to earn ecosystem already, and nobody has died yet. If you don’t understand fully ask them at AXS. On top of all that, people are hiring others to play for them and paying them salaries to manage their life in the gaming world while they do other things on this side of life to keep other aspects of their lives going.
The popularity of the Squid game is speaking to something deeper that is happening around the world already.