Players can play for in-game assets that can eventually be converted into real-world value in a growing number of blockchain-based games. This has resulted in the rise of virtual economies, in which people engage in game activities in order to earn money in the real world.

There are 10 million gamers in the play-to-earn ecosystem, 220 million cryptocurrency users worldwide. Users and interest, have been rapidly increasing. There were almost 40,000 searches for "play-to-earn crypto games" in July, up more than 300 percent from the previous month. Despite the spike in popularity, the play-to-earn industry is still in its infancy, with considerable gaps in the market.

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