Among Latin American countries, Brazil is second only to Argentina, a country that faced inflation of 50.9% last year. In Brazil, inflation was lower, but still exceeded the double digits, 10%.
The increase in inflation, which brings down the purchasing power of domestic currencies in Latin American countries — Venezuela being the great leader of the most affected countries — is a factor that helps to understand why people in these regions see games that pay with cryptocurrencies.
“The trends in Argentina and Brazil show that the numbers will continue to rise. Young people are not just looking for profitability. They are also looking for fun,” Gabriel Mellace, head of investor relations at Decentral Games, said Bloomberg.
The boom of NFT gaming
The trend started with Axie Infinity, the play-to-earn game that exploded in 2021 and came to be seen as a source of income for thousands of Brazilians. In a matter of months, the fever spread across the crypto market and several games were released to meet the demand.
Decentral Games, for example, launched its poker game within Decentraland in October last year, and it quickly became one of the most visited areas in the metaverse.
To play Decentral Games' ICE Poker, the user is required to have an NFT worth US$5,200 to play.
The high cost of entry, according to Mellace, has boosted the rental of NFTs, where people still lacking capital to acquire their own assets borrow those of other players on the condition of sharing the profits generated by the NFT. In this way, Brazilians and Argentines play on behalf of Americans and Germans.
Source: Portal do Bitcoin
