Home - NFT - Reddit Co-Founder, strongly supports the play-to-earn gaming model.

James Carter

June 1, 2023

Reddit Co-Founder, strongly supports the play-to-earn gaming model.

Alexis Ohanian is among the co-founders of Reddit, is adamant in his conviction that play-to-earn models will dominate the gaming industries in the future, despite the fact that the popularity of some of the most prominent P2E games has been on the slide.

Reddit Co-Founder

Ohanian, who is the founder and current General Partner of Seven Seven Six, a venture capital firm that focuses on investments in the Web3 industry, stated in a recent Twitter thread that play-to-earn “will become standard for video games in the future.”

“Within the next 5 years to come, the majority of gamers won’t play games unless they are being properly valued for that time,” says industry analyst Nate Silver.

Ohanian is unwavering in his belief that play-to-earn games, like Axie Infinity, are the wave of the future in the gaming business, despite the fact that such games have historically been unsuccessful.

He views the failure of Axie Infinity as a temporary setback and asserts that as crypto and NFT trading technologies scale, play-to-earn games will become an obvious choice. He sees the loss of Axie Infinity as a temporary setback.

Ohanian mentioned the six-figure sale of a virtual nightclub (Club Neverdie) in the early 2000s game Entropia Universe, in addition to more recent six-figure purchases of Counter-Strike: Global Offensive (CS: GO) skins, as reasons why he feels the P2E concept will make a re-appearance in the near future.

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“With recent advancements in Web3, there are even more ways for players to be compensated for something they’ve already been doing for free for years,” he continued. “These advancements have make it possible for players to earn money for something they’ve been doing for years.”

Even if there are likely to be obstacles in the way of play-to-earn games in the near future, Ohanian is unwavering in his belief that the model will become significantly more broadly accepted as the general public gains a greater familiarity with crypto and NFT trading.

Play-to-Earn Gaming Model

Ohanian is an investor in a number of gaming companies, one of which is Sky Mavis, the developer of Axie Infinity, and he has been a passionate advocate of crypto-field video games.

Ohanian stated earlier this year that cryptocurrency, and Bitcoin in particular, is here to stay despite the recent tragic happenings in the sector, including the collapse of FTX. This was made in the midst of widespread pessimism about the future of the cryptocurrency business.

At the time, he likened the introduction of blockchain technology to the invention of paper, predicting that we would soon begin to observe an increase in the number of uses for this technology, which would “compound in value and utility” over the course of the several years to come.

Other Crypto Veterans Argue P2E is Not Sustainable

In contrast to the opinions of a large number of other crypto executives and game creators, Ohanian is optimistic about the future of play-to-earn gaming. These individuals maintain that the model cannot be maintained for the long term.

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It has been claimed that Mark Otero, founder and CEO of Azra Games, has voiced doubts about the practicability of the idea of earning money while playing a game.

Instead, he stated that Web3 games need to be of such kind high quality that people will adopt them for the gameplay rather than for the NFTs or in-game tokens it offers.

Otero stated that players should “fall in love” with a game before the Web3 parts of the game are revealed to them. This improves the overall user experience and adds more value to the game.