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Play-to-Earn That Will Affect Developing Countries

In recent years, the popularity of Decentralized Finance (DeFi) has grown rapidly, leading to its permeation into the mainstream financial industry. For developing countries, cryptocurrency adoption, while relatively volatile compared to, say, the USD, has the potential to stabilize underdeveloped economies with hugely volatile currencies and hyperinflation. For the citizens of this country, alternative secure banking on the blockchain may offer the first real opportunities for savings, compared to native currencies which devalue so quickly that it becomes unaffordable to do so. For example, countries like Zimbabwe, which have been experiencing hyperinflation for decades, and Venezuela, a country with such severe inflation, can sell handbags made of real woven currency for 10,000 times the value of the currency from which they are made. significant benefit to mainstream cryptocurrency adoption. Venezuela has already made great strides toward adoption with more than 20,000 retailers, including Pizza Hut and Burger King, now accepting cryptocurrency as payment. Entering Other Paths In addition to the potential for economic stabilization from access to alternative currencies, evolving technologies unique to the blockchain offer other benefits to people living in developing countries. The increasing number of Play to Earn (P2E) Gaming options offers the opportunity for additional income streams for those in financial difficulties. Play to Earn Gaming models that reward participants with cryptocurrency or salable NFTs (non-fungible tokens) for playing games that they would otherwise play for free are growing and growing in popularity. An example of this is Axie Infinity, which is currently one of the most popular platforms for P2E gaming. Axie Infinity allows users to build a collection of “Axies” that they can use in the company’s ecosystem of games. From there, users are rewarded for participating via the blockchain. However, to participate in P2E, users must first purchase Axies to get started, some of them cost $1000.00 USD or more, which is a barrier to entry for many. Kitty Inu and Its Potential However, a relative newcomer to the crypto space and P2E Gaming, Kitty Inu is currently developing a Mario Kart-esque racing game called KittyKart on the Ethereum blockchain and doing so with inclusivity as a top priority. Kitty Inu plans to break down the financial barriers that can lead to exclusivity in the gaming space. In KittyKart, using Kitty Inu’s native token KITTY, users can mint their own basic NFT avatar for free through gameplay. NFT avatars can also be purchased from the game market or entered by the user (with supported NFT collections). During gameplay, users will select the avatar they wish to race with and during the single and multiplayer game modes, the avatars will build up skill points, increasing the avatar’s in-game abilities and presumably increasing the avatar’s salable value on the secondary NFT game. market. . By combining Free-to-Play (F2P) and Play-to-Earn (P2E), Kitty Inu will provide a platform where all users with internet access around the world have the potential to supplement their revenue streams. With no financial barriers to participating, Kitty Inu seems to bring “serious FUN” and earning, which can be of added benefit to people in developing countries who would otherwise have limited income options. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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