Play-to-earn (P2E) gaming adoption is set to nearly double in the UK this year, but interest in NFTs aren’t as great as it is in other countries.
This is according to Finder.com’s NFT Gaming Adoption Report, which polled 43,312 people across 26 countries to reveal nearly 8% of British internet users have used a play-to-earn game. 2,000 were surveyed from the UK in March this year.
However, an additional 8% say they plan to try a platform this year, meaning adoption could soon reach nearly 16%.
An NFT, or non-fungible token, is a unique digital asset (usually an image or a piece of digital art), with the buyer receiving a digital receipt saying they own it. NFTs can be bought and owned and re-sold, usually for cryptocurrency. Some NFTs have been made of streamers without their permission.
The UK ranks 23rd for NFT gaming adoption, ahead of only Germany (7%), France (6%) and Sweden (4%) and well below the global average of 14%. India has the most P2E gamers (34%), followed by Hong Kong (29%), the UAE (27%) and the Philippines (25%).
In the UK, men are more likely to play-to-earn than women. 9% of British men say they’ve played a P2E game compared to 6% of women.
From the below chart, the UK is not quite as bothered about NFT games as those in other countries.
Last month, a separate YouGov report found that esports fans in the UK are warming to cryptocurrency.
Finder.com's cryptocurrency editor Keegan Francis says game developers are increasingly using NFTs and cryptocurrency to build more enticing monetary incentives into their games.
"P2E games have their own digital asset-powered economies, allowing gamers to earn rewards," Keegan said. "Gamers can potentially earn two types of cryptocurrency - native cryptocurrency in the form of tokens, or existing cryptocurrency like Bitcoin or Ethereum.
"These games have already taken off in countries like India and the Philippines where people are reportedly quitting their jobs to earn money on P2E platforms. Adoption will likely grow in the UK as more developers build crypto mechanics into their ecosystems."
Keegan Francis, Finder.com
Francis noted that adoption tends to be higher in countries with a lower cost of living.
"Before Brits quit their day-job to play games, it's worth considering adoption is particularly high in countries where living expenses are much lower," Keegan added. "It's also worth noting that the mechanics in each game are different - some are free to play while others like Axie Infinity require an initial investment.
"It might not be a feasible option for people living in the UK to earn a living-wage playing P2E games, but it does allow them to earn an income for what would otherwise be a hobby."
The news comes after some esports brands have got involved in NFTs, including org G2 Esports which launched a new PFP NFT project Samurai Army earlier this year (pictured).
You can read more about the latest findings in Finder.com's NFT Gaming Adoption Report.
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Dom is an award-winning writer and finalist of the Esports Journalist of the Year 2023 award. He graduated from Bournemouth University with a 2:1 degree in Multi-Media Journalism in 2007.
As a long-time gamer having first picked up the NES controller in the late ’80s, he has written for a range of publications including GamesTM, Nintendo Official Magazine, industry publication MCV and others. He worked as head of content for the British Esports Federation up until February 2021, when he stepped back to work full-time on Esports News UK and offer esports consultancy and freelance services. Note: Dom still produces the British Esports newsletter on a freelance basis, so our coverage of British Esports is always kept simple – usually just covering the occasional press release – because of this conflict of interest.
