Play-to-Earn as a Foundational Component of the Metaverse 

October 13, 2021

Axie Infinity demonstrated the potential of the play-to-earn business model, allowing millions of people to play and earn a living in the Metaverse, creating social inclusion, and giving value to users’ time spent interacting with the game. 

The gaming industry started with a pure pay-to-play business model, slowly moving towards a freemium model of games such as Fortnite… Play-to-Earn is just the next logical step of this path, giving back value to the communities, which are essential to the games’ value. Blockchain integrates into this story as the final enabler of the Play-to-Earn business model, allowing for the creation and the true ownership of digital assets in the Metaverse and trustless value transfer between users and platforms. 

OVR’s vision is to be the platform of the AR Metaverse, yet a successful Metaverse cannot only be a place where people meet and play; it also has to generate value for users that can be spent in the physical world. That’s why at OVR, we’re building frameworks to allow for earning value in the AR Metaverse, frameworks that can be leveraged by users but also by third-party projects and brands.

The first play-to-earn implementation on OVR was the Pokemon-go-style treasure hunt, a huge success, with over 1 mln physical locations explored by hunters. Inspired by this achievement, we decided to open the AR Treasure hunt framework to other crypto and non-crypto projects. The first collaboration was launched with Doge Pound just 48 hours ago, with their supercool NFTs as the prize for the hunters. So far over 2130 collectors are already participating in the challenge, with more than 28,567 physical locations explored! A clear demonstration of the potential that can be unleashed when enabling communities to gamify on the AR Metaverse with a Play-to-Earn model.

But that is just the first low-hanging fruit; the earning opportunities that OVR will enable in the AR Metaverse are much broader. In the coming weeks, we will release the first version of the OVR Unity Plug-in; we will gradually expand the expressivity of the OVR framework allowing builders to create complex games on the AR Metaverse. Builders, projects and brands, will not only have the OVR community as public for their creations but will also be able to freely leverage all of the toolings the OVR have built so far: geographic reference systems, battle-tested IOS and Android apps, payment rails, and avatars, to name a few.

Oh yes, and just one more thing… Soon we’re going to announce a very important tool that will be a gamechanger for the geolocalized AR Metaverse, the Map-to-Earn feature on the OVR app! 

So stay tuned and keep building, playing, and earning with OVR.