Why Africa Should Pay Attention to Play to Earn (P2E) in Gaming

Several weeks ago, I had a fascinating conversation with a fellow waver, Jimmy Ku here at Flutterwave about how gaming was really blowing up in Africa. This was coupled by a few informative Zoom educational webinars run by Kenny Estes Diffuse Funds on crypto. I started to do a little research on the acceleration of Play to Earn or (P2E).?

So What Exactly Are P2E Games?

A P2E, is an online video game that rewards players for playing the game and/or performing certain tasks. Players earn rewards through actions such as daily logins and completing quests. With the advent of blockchain, it has become common to see players, in addition to purchasing a game, actually get rewarded for playing it and reaching certain milestones.

Now, NFT (non-fungible token) games are the hype because players can trade these assets in real-time, making them more valuable than any other virtual items therefore being able to trade assets for real money.

Why do I think P2E is Important for Africa?

Mobile gaming is one of the fastest-growing markets in Sub-Saharan Africa. For Africa to remain out of unemployment, it needs to create 12 to 15 million jobs annually according to the African Development Bank. NFT games, which provide these P2E opportunities, have the potential to positively impact African economies. This will contribute positively to the development of the continent.?

Over the forecast period (2021 - 2026), the African gaming industry is projected to record a compound annual growth rate (CAGR) of 12%. The region's leading game developers are based in countries such as Uganda, Kenya, and Nigeria.

A study by Newzoo and Carry1st shows that between 2015 and 2021, the number of video game consumers rose from 77 million to 186 million, representing a rise of 144%.

There could very well be some intriguing P2E gaming opportunities including:

• Players earn or win real money, resources, and equipment to improve their characters.
• Creating virtual worlds where players can interact with other players, complete quests, and earn resources.
• Providing infrastructure for the development of game software, which will make it easier for developers to create new games?
• Providing an environment where content providers can build communities around their products and increase revenue by selling virtual goods or subscriptions.

We’ve seen some early successes in the Philippines and Turkey.?

What are your thoughts? Those who do not have jobs or income, or who cannot afford to buy the games they want, will find P2E gaming an interesting value proposition. Can we see African benefiting?

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Munya Chiura is a growth hacker who is extremely passionate about fintech, payments, innovation and tech in Africa.