📍 Las Vegas, NV, USA. on 23rd Oct 2022 at 00:00
3 mins read
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NFT games are continuing to supplement (and in some cases, replace) the income of players worldwide who simply aren’t paid enough in their day-to-day jobs. Such players are tired of struggling to make ends meet, and the possibility of earning money by playing a game is enticing, no doubt. So enticing, in fact, that these games generated $2.32 billion in revenue between July and September alone.
While players profiting enough to quit their day jobs are indeed in the minority, the interest in such possibilities is there. And thanks to the Australian NFT gaming platform Balthazar, we know a little bit more about what players are expecting from play-to-earn NFT games.
Gaming as a full-time job is the dream for many. This aspiration is already possible in the traditional gaming space thanks to live-streaming on Twitch and YouTube, though the prospect isn’t easy. Succeeding in such an oversaturated space requires a massive time commitment, reliable internet, special equipment, and a whole lot of luck.
NFT games present a sort of alternative to the grind of a typical full-time job playing games — one that’s much more accessible. After all, you don’t need to grow a massive following or score a brand deal to profit from NFT gaming. Instead, you can potentially profit from playing well and selling valuable in-game assets. And even so, one can generate profits playing part-time while still working a full-time job or vice versa.
According to Balthazar’s findings, one in three respondents (mainly from the Philippines) noted that they would quit their job to play NFT games full-time. 59% of the survey’s 1,103 respondents state that they would play full-time NFT games while still working other jobs. 65% of respondents revealed they would need to earn a minimum of $42 an hour even to consider quitting their current jobs, while 55% of those users said they would need to make between $1 and $20 per day to survive if they quit.
While many of these NFT games consider themselves free-to-play, there’s often a purchase requirement: the NFT itself.
NFT price requirements vary depending on the game and the quality of the player’s desired NFT. To combat this ‘entry fee,’ many players join a guild and earn scholarships. A scholarship means the guild will pay for the player’s initial NFT in return for a cut of their earnings. 69% of those scholars said they couldn’t afford the initial NFT assets required to play.
While some might not appreciate a cut of their earnings going to another entity, guilds can provide a valuable opportunity for lower-income players such as students. 69% of survey recipients stated that they aren’t working for whatever reason, and many rely on Balthazar as their primary source of income. Even if these players don’t see every dollar they earn, they’re generating an income while playing games, and this experience can lead to a future of supplementing or grossing their entire income thanks to NFTs.
This isn’t to mention that guilds are a community as well. Through guilds, players can connect with like-minded gamers that will answer their questions, teach them how to progress through a game, and support their journey toward a profitable gameplay experience.
John Stefandis, the CEO of Balthazar, commented on the state of his project’s survey findings, stating:
“I’m not surprised by these findings because, just like us, our community is incredibly excited about the future in NFT gaming and the potential earning opportunities offered through Balthazar. They love play-to-earn games and many are ready to quit their other jobs to play NFT games instead, as they could potentially be earning the same, if not more from playing NFT games."
Can NFT games genuinely serve as a profitable alternative to the current state of full-time gaming? It’s impossible to say for sure, but there’s no denying the industry’s current potential. Nowhere else can players see profits so early, nor is there a guild-like foundation for sponsoring new players and supporting their entrance into the play-to-earn realm.