Video Game Industry
From arcades in coffee shops to the first consoles and PCs, to the ultra sophisticated video games we can play today. The video game industry has come a long way. It has grown into a multibillion-dollar industry with billions of customers worldwide, and it is still expanding.
What we see as a big problem within the gaming industry is that there are only a few ways for players to make money by playing regular video games. Depending on your skill, a team or organization may hire you as a professional gamer. Another option would be to broadcast your gaming adventures on popular streaming services and social media, where you could earn money if a large number of people choose to watch your stream or donate money.
This made it very difficult for regular players to earn money or at least see a return on the money they had invested in order to play these games on which the gaming industry is thriving.
Another big downside is that in most cases the video games and additional contents you buy are bound to your account and can't be sold or traded at all. Which means, once you pay for such a product, the money is "lost" forever. That was, until the gaming industry met blockchain.
Play-to-earn (P2E) model describes a game for players that are focused on earning cryptocurrency. Usually, P2E require players to own certain blockchain assets in order to be eligible to earn rewards with real value. The main benefit of P2E model is granting players the ability to buy, sell or trade their in-game assets.
Onyx Games follows a Play-and-earn business model.