Ending Soon! Save 33% on All Access

How Casual Gaming Converted Into a Serious NFT Gaming Business In India Gaming was so casual at some point in time that 'casual gaming' was considered a needless expression

By Ramkumar Subramaniam

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

People would never have thought about gaming as something even remotely serious. However, for people who were completely immersed in gaming and the thrilling adventure it offers (although virtual), it was something that they considered emotionally close. They did not mind spending their time, money, and effort to enhance the game characters, better their gameplay, and reach the ultimate glory that the game would offer them.

However, those were only a small segment of people. Even within that small set, an even smaller set was only capable of making gaming their livelihood. Gaming was so casual at some point in time that 'casual gaming' was considered a needless expression.

Today, however, NFTs and blockchain have changed the perception of gaming… And for good reasons. Let us admit it! Today, the seriousness of a profession lies in the dependability of livelihood from that profession. It is perhaps one of the reasons why a lot of professions that were not considered so serious about a decade and a half ago are now considered quite serious… Like being a YouTuber or a blogger.

What is the factor that made these 'activities' into professions? It is because of the accessibility and openness of the platforms. To make it crisp, making money from these activities had become so democratic… Thanks to the online platforms and the growth of technology.

Similarly, gaming is also going through its adolescence. NFTs have made gaming assets more worthy because of their longevity and tradability in marketplaces. P2E has opened opportunities for people to not only play games but also earn by spending time, money and talents.

To encapsulate it all, your gaming skill is now a skill you can monetize… Just like how content creation transformed itself over the past decade.

This is quite new for the world of gaming and the world of earning and careers. We have seen people belonging to countries like the Philippines, Vietnam, Thailand, and Cambodia make a living just by playing P2E games. However, those games were a little too odd for a majority of the Indian population to play.

With games such as cricket stepping into the NFT space and becoming P2E games, it becomes easier and more welcoming for an average Indian to invest in NFTs and make a living out of them. In most games, gaming assets are presented as NFTs, it means that they can be traded on marketplaces. Therefore, irrespective of the NFT investor playing the game, they can still make a profit by trading those NFTs on the marketplace.

There are innovative options like NFT renting that will soon be brought into a lot of games. This erases the line of demarcation between an NFT user and an NFT owner, further opening the doors of access for gaming enthusiasts to get into serious… Or rather rewarding gaming.

This transformation was much needed and it is only natural that a completely decentralized and distributed ledger like the blockchain is the epicentre of this transformation. When such games become completely decentralized autonomous organizations, the community takes care to keep the game aloft without depending on any centralized organization. When there is no centralized controlling body to pull the plug on the game, the game will continue to thrive… And so will the number of people who can make a living out of playing such games.

Ramkumar Subramaniam

CEO and co-founder, Guardianlink

Business News

Elvis Presley's Granddaughter Fights Graceland Foreclosure, Calls Paperwork 'Forgeries'

The 13.8-acre estate was scheduled to be sold in a public foreclosure auction on Thursday. Presley's granddaughter and heir, Riley Keough, is fighting to save Graceland in court.

Business News

Target Is Lowering Prices on Thousands of Items — Here's Where You Can Expect to Save

The news was announced ahead of Target's Q1 2024 earnings call, expected to occur Wednesday at 10 a.m. EST.

Business News

Now that OpenAI's Superalignment Team Has Been Disbanded, Who's Preventing AI from Going Rogue?

We spoke to an AI expert who says safety and innovation are not separate things that must be balanced; they go hand in hand.

Franchise

Know The Franchise Ownership Costs Before You Leap

From initial investments to royalty fees to legal costs, take stock of these numbers before it's too late.

Cryptocurrency / Blockchain

The 50 Richest People in Crypto

The richest cryptocurrency holders.

Business News

Scarlett Johansson 'Shocked' That OpenAI Used a Voice 'So Eerily Similar' to Hers After Already Telling the Company 'No'

Johansson asked OpenAI how they created the AI voice that her "closest friends and news outlets could not tell the difference."