Friday, March 31, 2023

Why play to own is the next must-see space in Indonesia’s crypto gaming ecosystem

There is a new movement underway in the gaming world in Asia Pacific: playing with possession. The region is home to a thriving online gaming ecosystem with young, connected and digitally indigenous people, and the region is equipped with the latest innovations in gaming.

Indonesia in particular Bigger The Southeast Asian gaming market is not only embracing this transformation but will also be taking the lead in transforming the wider gaming ecosystem thanks to its appetite for cryptocurrencies and innovation.

But why is the market moving towards single-player games? Its predecessor, Play to Earn (P2E), offered a mix of gaming experiences with financial incentives thanks to the integration of digital assets such as non-fungible tokens (NFT). Initially, this proved to be a successful recipe for a developing country like Indonesia, where people easily adopt cryptocurrencies and create a life. Play games like that.

However, the P2E mechanics rely heavily on the “earn”, rather than “play” elements, meaning that the enjoyment of the game is largely stripped away from the game. Without real value in the game itself, P2E economies cannot sustain themselves in the long term. Obviously, better economy and experience are needed.

The young and increasingly educated population across Southeast Asia are digital natives expected to drive the region’s consumption over the next decade. Record levels of Internet penetration and a growing mobile-dependent middle class towards digital assets will propel Asia beyond Western Markets attracted to NFT.

Moreover, this area is also home to More than half of global players, as the Indonesian gaming market will increase its total revenue to US$1.39 billion by 2026. In fact, approximately 80 percent of Indonesians consider themselves to be players. And when it comes to digital assets, Indonesians are unquestionably progressive, and the country enjoys it The highest encryption adoption rate in the world.

The case for crypto gaming in Indonesia is clear – no one can deny that this game is poised for entry and long term success.

The players are ready. The region that first embraced P2E with such enthusiasm will be the first to look forward to new and improved approaches to gaming that offer both earning potential and gaming pleasure. But apart from the ideal conditions that the P2E industry needs to thrive, what really guarantees its sustainability?

We have to think about how value is created and distributed in the game system. Financial wins can’t be everything and the end, especially when what matters most to the player is the gaming experience – the fun factor, community interaction and engagement that keeps players coming back to play more.

Recognizing this fact, we are starting to see an increase in the movement towards playing and earning, to ensure that quality play remains a core value proposition for players. While this shifts the focus away from the income aspect and instead puts playability on par with financial gains – it’s still not entirely appropriate in terms of long-term community development.

Enter Play to Own: a new paradigm that still combines cryptocurrency and gaming, but offers greater inclusivity, as well as deeper and meaningful interactions for players. Consider game mechanics that leverage free-to-play elements to accelerate new user experiences around core gameplay and in-app crypto-economy. By rewarding real engagement with tokens and tokenized game pieces, players develop a deeper understanding of the game while building real ownership at the same time. When they become power users, they are stakeholders. This is a true game to own.

But not only will the new monetization model bring a new wave of players into the ecosystem – it will also be the experience it can provide. The immense potential of sports to bring people online has been evident from the emergence of fantasy sports platforms around the world over the last three decades. And with Indonesia’s reputation as the country with the most passionate sports fans in the region, the country is gearing up for a new fantasy gaming experience.

It is not surprising that the token fantasy sports platform is seeing huge growth in the number of users in the country. in the new fantasy sports maneuvering game that supports single player action, we saw 26000 registered Players participating in the competition during our Alpha release phase throughout the Playoffs and NBA Finals.

Indonesia is the most represented country on the Gambit platform, with more than a quarter of all players there. This did not surprise us as basketball is rapidly becoming one of the most popular sports in the country, with more than 21 million Indonesian Youth trained as part of the NBA Jr. Development Program.

Ultimately, turning fantasy sports into tokens is only one way to ensure player participation and satisfaction. It is very important for the crypto gaming industry to keep in mind that an enjoyable gaming experience that also provides opportunities for platform ownership will be the key to long-term success.

In addition, stakeholders in play-to-own should know and truly understand market dynamics and cultural trends in Indonesia in order to fully exploit the potential of the crypto gaming ecosystem in this country.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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