Mass Adoption of Play-to-Earn Platforms Through Fantasy Crypto Gaming
With inflation figures soaring across the US and Europe, tens of millions are turning to add income streams to catch up and improve their financial status.
One of the most popular new trends combines the side hustle, one of the most popular forms of entertainment globally, and blockchain technology.
That form of entertainment is gaming, with over 3 billion users. And a new economic model, crypto games where you Play-To-Earn, is ideally designed for blockchain technology. In such a model, users can earn digital assets such as cryptocurrency and non-fungible tokens (NFTs) through successful gameplay. This gave birth to a new realm where you can play crypto games to make money.
This is still a very new market. Only ten blockchain games have reached 100,000+ monthly active users per DappRadar, which tracks only desktop users. On the Wax blockchain, only one crypto gaming platform, Alien Worlds, currently has over one million active users over the past month – with over 1.5 million.
This article looks into a specific sector of the gaming market, fantasy sports league gaming, and how CoinFantasy is bringing this sector into crypto.
Fantasy Gaming
Outside of crypto, fantasy sports games are a hot sector. And why not – people have been trying to predict the future since the beginning of civilization. This is wildly popular from sports to politics to horse racing in the modern world.
The international fantasy sports market was projected to grow from over $20 billion in 2020 to over $22 billion in 2021, increasing by 9.5%.
Significant reasons why this sector is growing include:
– A growing young adult population
– Improved digital infrastructure
– Increased smartphone access
North America is the largest market in the fantasy sports platform sector, though the Asia-Pacific is growing quicker.
Looking at just one American sport, the NFL is expecting to draw a total of $12 billion in betting in 2021.
CoinFantasy Enters the Game
Bringing the concept of crypto fantasy gaming to the industry with a play-to-earn model is CoinFantasy’s unique offering in the space.
CoinFantasy does this by bringing the popular gamified concept of predicting the future into the world of crypto and turning it into its own game.
Instead of picking winning teams or star players, users select a portfolio of cryptocurrencies and are rated according to the performance of those cryptocurrencies.
CoinFantasy has a “zero loss” solution, so users can participate for free with a chance to win in the crypto fantasy league. To join, users can start participating in three easy steps:
1) They enter a contest, competing against other players in real-time.
2) They choose what crypto assets they will put in their fantasy portfolio with the winning goal of selecting the most growing portfolio.
3) Game Winners earn crypto and rank up levels in the platform. As they move up, they can mint NFTs & get exclusive access to CoinFantasy’s growing gaming ecosystem.
In addition to crypto, CoinFantasy also included non-fungible tokens or NFTs in its gaming ecosystem. Users can buy or win special player cards with over 100 unique characteristics and upgrade them.
These collectable cards can be sold to other users for cryptocurrency, adding another element to its Play-To-Earn economy.
CoinFantasy aims to gain a first-mover advantage in the fantasy crypto games that pay while you just play sector. With the growing popularity of gaming, fantasy gaming, and crypto, they are excellent to do just that.
To learn more, connect with the CoinFantasy team across the web and social media here:
