Reddit Cofounder says Play-to-earn crypto games will take over the gaming industry in 5 years

Reddit co-founder Alexis Ohanian thinks that the play-to-earn crypto games will dominate the gaming world, occupying people’s interest in the next five years.

"90% of people will not play a game unless they are being properly valued for that time," Ohanian claimed in the podcast. "In five years, you will actually value your time properly, and instead of being harvested for advertisements, or being fleeced for dollars to buy stupid hammers you don't own, you will be playing some on-chain equivalent game that will be just as fun, but you'll earn value, and you will be the harvester."

Play-To-Earn games generally use crypto tokens instead of a regular in-game currency, which means that gamers can theoretically trade their in-game earnings for real currency. The most popular title in the category right now is Axie Infinity, a Pokemon-like game where Axis can be bought and sold for the RONIN cryptocurrency.

According to a Business Insider report, Axie's in-game economy is already having problems since players are cashing out their gains rather than putting them back into the game. The game also requires a minimum buy-in of roughly $300, which is a significant barrier to entry for many players, with lower-level players frequently earning far less than minimum wage.