Experts Say P2E Games ‘Normalize’ Crypto in Emerging Markets

Despite an apparent decline in user interest in some regions, play-to-earn (P2E) blockchain games have continued to grow in popularity in emerging markets, as evidenced by the latest Chainalysis Crypto Adoption Index. Experts suggest that this trend is contributing to the normalization of crypto in these regions.

The experts also argue that P2E blockchain games have helped create a generation for whom tokens are as familiar as “touchscreens or the internet.” Commenting on the apparent rise of P2E games, particularly in Southeast Asia, Latin America, and Africa, Victor Yu, the chief operating officer of CARV, said the resulting increased crypto awareness “could reshape the financial landscape for millions of people.”

Yu, whose platform is developing an identity and data layer (IDL) for gaming, artificial intelligence (AI), and other applications, explained that P2E games offer a unique opportunity for the financially excluded to earn, store, and transfer digital assets.

He added that such games are especially valuable in regions with high unemployment or economic instability. The COO asserts that P2E games are beneficial for the blockchain and crypto industry because they can be played by users with limited technical knowledge.”

“P2E games make earning and using cryptocurrencies accessible to a broader audience. With the proliferation of mobile-first platforms, users can dive into the world of blockchain without needing advanced knowledge of wallets, exchanges, or decentralized finance (defi) tools. This frictionless entry point is crucial for onboarding the next billion users into the crypto ecosystem,” Yu said.

Beyond offering economic opportunities in countries facing economic challenges or limited job options, P2E blockchain games attract a wide audience due to their accessibility. Played on smartphones, P2E games require minimal upfront investment, making them a compelling option for many. Additionally, these games often foster strong communities and social interactions, further boosting their appeal.

Consequently, many proponents of P2E games argue that players in the blockchain and crypto firms should prioritize leveraging these technologies to accelerate adoption.

Meanwhile, Ivo Georgiev, co-founder of Ambire Wallet, said he sees P2E games as a potential bridge to mass crypto adoption. He explained that P2E games achieve this by leveraging the existing popularity of gaming while simultaneously introducing users to the financial aspects of Web3.

However, Kiril Nikolov, a decentralized finance specialist at Nexo, emphasizes the importance of user enjoyment for long-term success. Therefore, while P2E has offered a temporary earning opportunity, Nikolov said for a sustained impact, “the focus needs to be on delivering a fun, immersive experience.”

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