It seems that India has been catching up with the rest of the world when it comes to technology and gaming. As the whole world is getting more into NFTs and cryptocurrencies, along with some new gaming technology advancements, in today’s blog we will be getting into all about India’s crypto-based P2E games and how they are leading the world right now. However, what makes it more interesting is that the laws in the country are not quite going against the online gaming sector and also against the rise of cryptocurrencies. Hence, it would be quite interesting to assess the situation and whether India will be able to retain this position.
What exactly are cryptocurrency P2E Games?
It is not that difficult a concept and is extremely similar to online games. For example, in online rummy and such games, sometimes you can use your own money inside the game and start playing. There are chances where you can also win real-life cash. Hence, this becomes associated with gambling in India. However, the concepts are quite different and yet similar. There are a lot of debates going on at the moment regarding whether online games are gambling games or just games that are based on skills, where you can just use the real-life currency.
However, we digressed from our topic. P2E cryptocurrency games are basically where you can play games using cryptocurrencies, especially NFTs. You will not need any money at all to get the game. However, inside the game, you can own certain things or items that will be given to you in terms of NFTs and other cryptocurrencies. Later on, you can trade them and use them too in terms of getting other assets. Hence, these games have become quite popular as you can use your assets to grow them more.
What is India’s position in the P2E Games?
Now we come to the most important part of the news. India seems to be leading the whole world in terms of P2E games right now. Statistics have shown that almost 34% of the users come from this country itself, and there are already 11% who are willing to take part in the games from this country. This is quite huge as it demonstrates India’s capacity to go ahead in the whole cryptocurrency and metaverse race too. Had India not been able to get into the games, then perhaps there would not be much importance to the metaverse concept either. Yet, when we see that India is getting so much more involved in the P2E games, it makes us feel that perhaps Metaverse will come to this country at the same time as the others are getting into it too. Therefore, we might not be considered to be backwards when it comes to cryptocurrency that much. The only thing that is keeping us back is the laws of the country, which should be changed a lot, and need to be modified according to the changing times.
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Until next time,