Wednesday, May 29, 2024
HomeNFTArgentina turns to "play-to-earn" crypto game due to surge in inflation

Argentina turns to “play-to-earn” crypto game due to surge in inflation

People in Argentina are turning to “play-to-earn” crypto game because of the country’s high inflation, which is pushing down the value of conventional earnings.


Argentina, the second-largest economy in South America, is currently ranked sixth in the world in terms of players on “play-to-earn” cryptocurrency gaming platforms. Visits from Argentina to the Decentral Games have topped 9,400 since the start of 2022, compared to only a few hundred visits in the whole year of 2021. Argentina has the world’s largest user base on “play-to-earn” crypto gaming platforms.

Brazil has also risen in the ranks in terms of “play-to-earn” cryptocurrency gaming platforms users and is currently in seventh place in the world. Argentina and Brazil both are experiencing significant inflation. Inflation will continue to climb in these nations, according to Decentral Games, and the trend of consumers turning to play-to-earn games will persist in the near future.

According to Decentral Games’ head of investor relations Mr. Gabriel Mellace:

“Young people don’t simply want to make money; they also like to have a good time.”

Working on “play-to-earn” crypto game

Before one can engage in the ecosystem, most of the major metaverse gaming platforms need consumers to acquire an NFT, avatar, or character. A single NFT can cost thousands of dollars, keeping them out of reach for the great majority of the world’s population.

These platforms, on the other hand, provide NFT delegations, which is a mechanism that allows owners to loan out their NFT character to some other user on a rental basis. The user may then contribute to the ecosystem by using the “rented” NFT to play play-to-earn crypto games.

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