P2E crypto games becoming a popular income booster in Argentina
Argentines Turns to P2E Crypto Games as Income Booster
Argentines are increasingly turning to P2E crypto games to supplement their income, with the number of gamers from the country increasing dramatically in recent years.
Citizens frequently make more money from these games than they do from their salaries, as inflation eats away at their wages.
According to a Bloomberg story published on March 22, citizens in Argentina are resorting to play-to-earn games to supplement their income as the local economy’s inflation erodes their wages.
It demonstrates that Argentina has surpassed Mexico as the most popular play-to-earn country in Latin America, owing to inflation reaching a ten-month high.
The inflation rate in Argentina rose to 52.3 percent in February of 2022 from 50.7 percent in the prior month, the steepest increase since September.Â
Players are clearly seeking a strategy to combat the pace of inflation, which has risen at a 50 percent yearly rate. In terms of inflation rates, Argentina is only second to Venezuela.
Play-to-Earn is Becoming Popular
One of the most popular games in Argentina is Axie Infinity. According to Mauricio Ramos, Axie’s CEO of Latin America, citizens are playing on behalf of Americans and Germans since they cannot buy their own accounts.
Decentral Games, an immensely popular metaverse platform, has had nearly 10,000 visitors.
Many of these games demand substantial beginning funds, which can run into thousands of dollars.
Play-to-earn games have become popular in many countries, especially Asia because they allow consumers to make money while playing games.
Other Latin American countries have also ventured into this territory. Georgia, the United States, and the Philippines are among the countries with the most play-to-earn users.
Argentines can avoid financial controls by receiving a share of the earnings via cryptocurrency from those they are playing on behalf of.
Although there has been some regulatory concern about this earning model, nothing major has yet occurred.
