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Reddit Co-Founder Alexis Ohanian Firmly Stands by Play-to-Earn Gaming Model

Alexis Ohanian, Reddit’s co-founder, is a staunch advocate for the play-to-earn model, foreseeing it as the gaming future, even as some significant P2E games see a dip in popularity.

In a Twitter conversation, Ohanian, who stands as the founder and General Partner of the Web3-centric venture capital entity, Seven Seven Six, expressed his conviction that play-to-earn “is set to be the norm in the gaming world.”

He predicted, “In the upcoming half-decade, most gamers will opt for games that duly compensate them for their time.”

Even with the downturn of play-to-earn games like Axie Infinity, Ohanian remains unwavering in his belief that such games represent the future direction of gaming.

To him, Axie Infinity’s decline is but a momentary hiccup. He is of the view that as the technology behind cryptocurrencies and NFTs matures and scales up, the adoption of play-to-earn games will be an obvious choice.

Drawing from history, Ohanian pointed to the six-figure sale of a virtual nightclub in Entropia Universe called Club Neverdie during the early 2000s. Moreover, he emphasized the contemporary high-valued sales of skins in Counter-Strike: Global Offensive (CS: GO) as indicators underlining the potential resurgence of the P2E model.

Highlighting the evolution in the gaming landscape, he mentioned, “Given the latest progress in Web3, there now exist broader avenues for players to earn from activities they’ve historically done without compensation.”

Despite the looming hurdles in the play-to-earn gaming sphere, Ohanian’s conviction remains unshaken. He believes that as the general populace gains deeper insight into crypto and NFT trading, the acceptance of this gaming model will notably expand.

Having vested interests in the gaming realm, Ohanian holds investments in several gaming firms, including Sky Mavis, the brainchild behind Axie Infinity. He consistently champions games that integrate crypto elements.

Earlier this year, amidst prevalent skepticism concerning the longevity of the crypto industry, Ohanian expressed his firm belief in the staying power of cryptocurrencies, especially Bitcoin. This came even in the face of setbacks in the sector, such as the downfall of FTX.

Drawing a historical parallel, he likened the rise of blockchain technology to the invention of paper. He envisioned an increasing number of uses for this technology, predicting its “value and utility” would amass and multiply as time progresses.

Other Crypto Veterans Argue P2E is Not Sustainable

Ohanian’s optimism about the future of play-to-earn gaming sharply contrasts with the opinions held by several other crypto magnates and game creators, many of whom contest the sustainability of this model.

For instance, Mark Otero, the founder and CEO of Azra Games, has aired doubts about the long-term feasibility of the play-to-earn approach.

Otero emphasizes that Web3 games should primarily captivate audiences with their gameplay, not necessarily lure them with the allure of NFTs or in-game tokens. He further suggests that the Web3 components of a game should subtly emerge, becoming evident to players only after they’ve been thoroughly enchanted by the game. This, he believes, would enhance the gaming experience and add supplementary value.

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Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

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