India has found itself at the No.1 spot in the global adoption of play-to-earn (P2E) gaming.
According to Finder’s NFT Gaming Adoption Report, NFT gaming is gaining traction and popularity in India, where 34% of respondents said they have played a P2E game. 29% of respondents of P2E gamers come from Hong Kong and 27% from UAE. The report expects the percentage of those playing NFT games to rise from 6% to 15% by 2022-end.
Finder highlighted that P2E is on the rise globally with adoption set to grow 10% on an average. Keegan Francis, the cryptocurrency editor at Finder, said new gamers have a number of platforms to choose from. Each platform empowers gamers with different mechanics. Francis highlighted that while some are free to play, others like Axie Infinity require investment. If a player is interested in a game, but can’t afford the entry cost, he or she can consider a Guild. The expert explains that Guilds help the users play a game like Axie Infinity for free by lending them the required NFTs. The users are entitled to a share of the earnings, but a remainder goes to the Guild.
The report also highlighted that men are more likely than women to have played NFT games. An average of 17% of men said they have played a P2E game, compared to 12% of women globally. The gap is noted to be widest in Singapore, where 32% of men own cryptocurrency compared to 13% of women. Furthermore, those in the age group of 18-34 are most likely to have played a P2E game. India has been recording the highest percentage of respondents who participated in this realm of NFT gaming at 42%.