Can Nigerians earn money from Web3 gaming?

Jun 01, 2022|Nnamdi Ifechi-fred

Video games are interesting.

I would know because they formed a big part of my favourite childhood memories. While this has mostly been for fun, leisure, and to feed my imagination, there are other people that have taken this more seriously. These people have become professional gamers who earn a living playing against other gamers in sporting competition styled events—or Esports—and by streaming on platforms such as Twitch.

Key Takeaway

Web3 is changing how value is generated, recorded, and transferred digitally. Web3 promises that creators will be able to own the right to their content and extract value directly through the blockchain and tokens
Through the blockchain and NFTs, Web3 is giving rise to new forms of gaming, one of which is P2E games. P2E games have raised $2.5 billion in the first quarter of 2022.
Optimistic estimates suggest that 16% of Nigerians have played blockchain P2E games and are earning extra income, albeit subject to the fluctuations of cryptocurrency

While earning from playing games has been reserved for the most skilful gamers, all this is changing in Web3—the next iteration of the internet. Individuals around the world can pull out their phones, start playing games and see their wallets or bank accounts grow fat. To understand how this plays out, the first place to start is by exploring Web3.