The Intersection of PlayStation and Crypto: Will We See Play-to-Earn Games?

Who wouldn’t love to make money from their favorite video games? Ask ten kids how they hope to make their living. There’s a reasonable chance that a few of them will answer with exactly that.

For most of us, it’s a pipe dream. And yet the “play-to-earn” concept has made this dream a reality for some people. The money might not be substantial, but considering that most of us are actively paying for our video game experiences, it can be meaningful.

Will PlayStation start integrating play-to-earn games into its library?

Crypto In the Future

The integration of blockchain and crypto technology has already changed the way people gamble online. The more we learn about crypto and blockchain gambling, the more it becomes clear that it is a safe and convenient alternative to banking-backed transactions.

Play-to-earn might not be right around the corner, but we could see the benefits of crypto and blockchain in the world of PlayStation gaming sooner than you might expect.

What is play to earn?

Today, people make money through video gaming in one of several ways. Streaming. That's where gamers play before an online audience.

They earn their money by acquiring lots of views, and possibly partnering with companies to promote products or services.

This is basically the influencer model. You could also make money by developing your skills to the highest level.

This means either becoming a professional gamer or a coach. Coaching, naturally enough, is a hair more accessible. And while there aren't tons of games, you could be able to piece together a career as a private consultant, or at the highest level as a university or professional team coach.

Obviously, all of these career paths are both highly desired and extremely competitive. To make any money at it at all, you need to be in the top one percent of the top one percent of gamers. Even then, there are no guarantees or even stability.

Play-to-earn provides a different path toward monetization. This model uses blockchain technology to reward players with cryptocurrency or NFTs for playing the game. Players earn digital assets by completing tasks, winning battles, or developing their in-game characters. These assets have real-world value and can be sold on various marketplaces.

The potential earnings vary widely. Some players in developing countries have earned enough to support their families, sometimes matching or exceeding local minimum wages. Top players once made thousands of dollars monthly during peak periods. However, earnings fluctuate based on cryptocurrency values and game popularity.

Unlike streaming or esports, play-to-earn doesn't require exceptional skill or entertainment value. It rewards consistent participation and strategic gameplay. This makes it more accessible to average players. Most successful players treat it like a part-time job, putting in regular hours to maximize their earnings.

The model is still evolving with sustainability challenges. Early games faced economic collapse when too many players focused on cashing out rather than reinvesting in the game economy. Newer games are developing more balanced economics to ensure long-term viability.

Will PlayStation adopt play to earn games?

There is some talk of play-to-earn games getting ported to consoles. For the time being, that might be as much of an adoption as fans can expect. Play-to-earn, despite its natural appeal, is a relatively niche concept that doesn't naturally suit PlayStation's emphasis on triple-A titles.

That said, with the increasingly prohibitive cost of blockbuster game development, everything is up in the air. Anyone who keeps even half an eye on the world of video gaming news knows that the industry has been ripped apart by mass layoffs and studio closures over the last few years. In an incredibly volatile time, it's hard to say exactly what will happen.

That said, a more probable blockchain integration would focus on securing transactions and changing the concept of video game ownership. Blockchain enhances security by creating unalterable transaction records across multiple computers. This makes hacking or fraud much harder to accomplish. Every purchase is verified by the entire network, not just a single company server.

Blockchain also supports the NFT market. Non-fungible tokens make it possible to own virtual items in a tangible way that replicates the ownership of physical items. In a world where all of us are simply leasing our digital media, the potential to own, transfer and sell virtual items is very appealing. No, it's not as sexy as play to earn, but it is influential.

For PlayStation, implementing blockchain could address growing consumer concerns about digital rights. As more games become digital-only, players increasingly worry about losing access to purchases. NFT-based games could provide players lasting ownership even if a company stops supporting a title.

Console makers might start with small steps like NFT collectibles related to popular franchises. They could then gradually introduce more blockchain features as the technology matures and becomes more user-friendly. The transition would likely be gradual rather than revolutionary.