Reddit cofounder Alexis Ohanian predicts play-to-earn crypto will be the only type of games people play in 5 years | Currency News | Financial and Business News

Alexis Ohanian, co-founder of Reddit.

  • According to Alexis Ohanian, co-founder of Reddit, cryptocurrency being played to earn will be the only type of game most people play within five years.
  • “90% of people will not play a game unless it is properly rated at the time,” he said in a recent podcast.
  • It is also expected that most people will inadvertently participate in DAOs after five years.
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Alexis Ohanian, co-founder of Reddit, believes that the “play-to-earn” phenomenon of cryptocurrency will be routine for gamers within five years.

“90% of people will not play a game unless it is properly rated at the time,” Ohanian, who runs the venture capital firm Seven Seven Six, said on a recent episode of the “Where It Happens” podcast.

“In five years, you will really appreciate your time properly,” he said. “Instead of being made money for ads, or loot for dollars to buy dumb hammers you don’t actually own, you’ll be playing some equivalent game on the series that will be just as fun, but you’ll actually gain value and be the reaper.”

Play-to-win games are a cryptocurrency-powered virtual world that grew in popularity around the world in 2021. Game worlds such as Axie Infinity and The Sandbox use cryptocurrencies as in-game currencies.

Games are one of the biggest use cases in the metaverse, a futuristic virtual world that enables players to build, own and monetize their gaming experiences on the ethereum blockchain using in-game utility tokens.

Notably, a quarter of Axie players have never had access to a bank account before, which means that their Axie wallets are the first financial services they have access to.

Crypto-industry experts expect to see an increase in the adoption of popular gaming franchises and more gamers around the world pouring into play-for-profit games in 2022. Decentraland’s cryptocurrency MANA currently has the highest market capitalization among the tokens to play for profit, according to To CoinMarketCap.

Aside from the play-for-profit boom, Ohanian shared two other predictions.

According to him, most people will participate in a DAO, or decentralized autonomous organization, in the next five years. A DAO is a fancy term for what refers to a group of online contacts gathered together for a common purpose, as in the case of ConstitutionDAO, where people gathered together to try to purchase an original copy of the US Constitution.

“They won’t necessarily know it,” he said. “I don’t think promoting the brand is difficult.” “But they wouldn’t care, the user experience wins over everything. So yeah, I think it’s going to be very popular. Maybe not everyone, but for all intents and purposes, it would be a natural thing.”

He also predicts that people will pay more attention to their online identities than those in the real world, saying “they’ll care more about some of the nicknames they’ve made than about their government’s name.”

Read more: A little-known blockchain founder shares three reasons why he’s outperforming crypto heavyweights in NFT deals with major brands like AMC and Funko — two metaverses betting despite the current digital world’s “dummy model”