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Crypto and gaming collide in high-risk play-to-earn economies

Players spent $4.9 billion on NFTs in games last year, according to market tracker DappRadar, representing around 3% of the global gaming industry.

Crypto and gaming collide in high-risk play-to-earn economies

Jarindr Thitadilaka says he made as much as USD$2,000 (S$2,730) a month last year from his collection of digital pets, which he would breed and send into battle to win cryptocurrencies. The 28-year-old from Bangkok was playing Axie Infinity, one of a new breed of blockchain-based online games, dubbed "play-to-earn", which blend entertainment with financial speculation. These games can make.

Crypto and gaming collide in high-risk play-to-earn economies

Crypto and gaming collide in high-risk play-to-earn economies
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Crypto and gaming collide in high-risk play-to-earn world

Jarindr Thitadilaka said he made as much as US$2,000 a month last year from his collection of digital pets, which he would breed and send into battle to win cryptocurrency. The 28-year-old from Bangkok was playing Axie Infinity, one of a new breed of blockchain-based online games dubbed “play-to-earn,” which blend entertainment with financial speculation. These games can make for lucrative businesses amid the hype around non-fungible tokens (NFTs) and virtual worlds, attracting millions of players plus billions of dollars from investors who see the games as a way to introduce more people to cryptocurrency. In Axie Infinity, users buy virtual blob-like creatures

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