Play To Earn is the new labor economy in the metaverse. It might look like a toy right now, but it's going to change labor as we know it.
People already spend most of their time using computers, phones, games, and social media platforms. So in a way, we are kind of already living in a metaverse, but that metaverse is extracting value from people's attention and is not giving anything back to them.
Axie Infinity, maybe the first nation-state in the metaverse, allows people to keep some of the value they generate through investing time playing the game. On average and depending on skills, a person can earn $8-$20. It is still not much to a person in the U.S. but, for someone in the Philippines or Latin America, it can amount to a lot, so this is a good starting point for the metaverse because, in a way, we are acquiring talent that with their time input will help to build some of the biggest Web3 companies we have ever seen.
Play-to-earn right now is a model for games where players can earn real money from gameplay. The natural evolution of this is "do-to-earn," where anyone can perform a task and be rewarded. Any task in the metaverse will be rewarded. I remember that in February, there was a proposal around Decentral Games to have a host in their casino and get paid like a real-life salary. Crazy, I thought at the time, but now I can see that metaverse is just a new workplace than in a couple of years, it will be "the workplace."
In Ready Player One, players earn currency that can be spent on real tangible assets or digital assets to upgrade their tools or status in the game. We can even see people being hired in the real world to perform a task in their metaverse. And in the real world, there is not much going on because people spend most of their daily hours interacting in the metaverse.
It would help if you took this with an open mind, you might not see it now, but the future is in the metaverse. You will earn your income in the metaverse, and you will bank with all the DEFI tools available on that metaverse.
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