Play-to-earn (P2E) gaming or GameFi adoption rate in Nigeria hits 16.9% this year, according to Finder’s NFT Gaming Adoption Report.
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Finder.com polled 43,312 people across 26 countries to reveal that over 16% of Nigerian internet users have used GameFi and an additional 17% are planning to join the GameFi industry.
India has the most gamers (34%), followed by Hong Kong (29%), The United Arab Emirates (27%) and the Philippines (25%).
Nigeria currently ranks 9th globally for P2E adoption but Finder’s cryptocurrency editor, Keegan Francis, says forecast adoption will move it up to 5th.
“Nigeria is set to experience the biggest jump in P2E NFT gaming adoption of any country included in the study, followed by Peru (16%) and The Philippines (14%).
According to the report, the global adoption rate is set to increase from just 14% to 24%. Among men and women, men are likely to participate in play-to-earn than women. The report shows that 19% of men were involved, compared to 12% of the women, similar numbers of men and women are looking to get involved over the next 12 months.”
Common Problems Preventing GameFi Adoption in Nigeria
The common issues faced by participants, is the entry cost to play most of the games. Most of these NFTs are costly and very few can afford to pay and join the game. The most common solution is game guilds.
“Guilds allow players, known as scholars, to play a game like Axie Infinity for free by lending you the required NFTs and you are then usually entitled to a share of the earnings while the remainder goes to the guild”.
Another common guild is the Gamic Game Guild in Africa with over 4000 active gamers across Africa.
NFT gaming adoption by country
- India – 33.79%
- Hong Kong – 28.75%
- The UAE – 27.27%
- The Philippines -25.01%
- Vietnam – 22.96%
- Singapore – 22.68%
- Malaysia – 19.43%
- Brazil – 17.55%
- Nigeria – 16.05%
- Venezuela – 14.11%
- Peru – 13.15%
- Colombia – 12.68%
- Argentina – 12.06%
- Chile – 11.36%
- Ireland – 11.31%