P2E Market Limitations
State of the P2P Market
According to MarketsandMarkets, a global market research company, the global blockchain game market is expected to grow from $460 million (approximately 6 trillion won) in 2022 to $65.7 billion (approximately 85 trillion won) in 2027, with an average annual growth rate of 70.3%.
In addition, according to the game industry in the second half of 2023, large game production companies such as Nexon, Com2uS, and WeMade are preparing new P2E titles. With the global virtual asset market recovery, there is an expectation to prosper the P2E business. However, as a result, the price of P2E game-related tokens has not yet recovered.
Problems commonly experienced by P2E games at present are as follows.
What is P2E Problem?
● Ecosystem disruption by mining bots (BOT)
● Targeted Marketing Failure
● Accessibility limits of Web 2.0 User
In particular, the biggest reason is that game production companies are currently focusing on 'Earning' for mining users rather than 'Fun', which is the essence of games.
The essence of the game project is to provide fun, but the P2E games that have been released are focused on mining users who are just chasing money, and they cash out the tokens acquired through bots without reinvesting them in the game. As a result, the value of In-Game goods has fallen and Tokenomics has collapsed.
Access for existing Web 2.0 users is also not easy. Most games, such as the creation and connection of Metamask wallets and the transfer of assets between wallets, are not structured so that new users can easily enter.
P2E Market On-Chain Rate
The Onchain Rate within the Blockchain game sector shows no clear growth. The number of transactions generated by blockchain Gaming Dapps is increasing, but the UAW (Unique Active Wallets) trend has broken since April 2023, and has not been recovered.
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