According to the report by Global Economic Prospects, the global economy is still facing the effects of the pandemic. Its development is about to slow down at least by 4% in 2022 and 3% in 2023. Meanwhile, with increasing inflation rates and 207 million unemployed in 2022, the situation with people having no jobs is said not to improve before 2023. These numbers are dramatic, however, Play to Earn gaming can still be a fit solution to go through the crisis. To prove it, TakeUs! will share with you the key findings of unemployment and illustrate the efficiency of P2E for economics with vivid examples. Let’s start!
Consequences of Unemployment
According to numerous studies, unemployment ruins the lives of individuals. When a person loses their job, they face an almost immediate impact on their living conditions, followed by a decline in their standard of housing, diet, clothing, and health care. However, it also influences their mental and physical health, leads to an increase in family tensions and breakdown, develops shame and stigma, and even shortens lifespans.
Meanwhile, unemployment is worse than the drama of an exact person or a family. This problem is always social. For instance, while searching for a new working place, people have to save money, use their savings, if they have some, and reduce consumption. Demand begets supply, so, as a result, not only a single unemployed person, but even the still employed ones suffer, and the whole economy is shaken.
If unemployment rates in a country are high, such a situation leads to an erosion of skills, homelessness, development of social division, immigration of potentially fit talents, increase in skepticism and pessimism, lack of educational opportunities for children and boost of crimes.
Reasons of Unemployment
Unemployment is mostly caused by such global problems as economic crises and recessions that can be provoked by pandemics and political issues. Meanwhile, other reasons for unemployment also include occupational immobilities when people have no opportunity to adapt to technological changes and acquire the needed skills; geographical immobilities when people can’t find any proper job related to their profession in their region; discrimination by gender and age. So, if people could find some remote well-paid jobs with training and without discrimination issues, there would be a chance to reduce unemployment. But are such jobs real?
Reasons P2E Can be a Solution
Play to Earn gaming is widely regarded as a way to moderate unemployment. The thing is that people all over the world can receive decent salaries for playing video games without any hidden hazards to face: the industry is impressively transparent. Firstly, everyone is welcome on board, no matter where they are located, what skills, education, and background they have. Secondly, there are no gender boundaries or age discrimination. Everyone has equal rights and opportunities. Last but not least, there are already some examples of whole countries that fight unemployment with the help of Play to Earn gaming.
The Philippines
P2E gaming is said to be viral in the Philippines. It all started during the pandemics, when the country faced severe economic problems and, consequently, showed serious unemployment rates. However, P2E games turned to help the Philippines citizens: numerous reports show that NFT games enabled people to go through the lockdown, gain “life-changing” sums, and develop careers in the crypto industry.
South America
P2E is gaining popularity in Venezuela and Argentina, where the NFT player community is almost as huge as in the Philippines. Currently, gamers from Latin America represent 25% of users globally. What are the reasons for NFT games’ popularity in these regions? Surely, people adore video games, but the main thing is that citizens of Venezuela and Argentina are searching for legit jobs with stable incomes. In Venezuela, unemployment rates are 10%, and in Argentina, they reach 43%. P2E helps alleviate this issue for scholars who are paid through crypto assets, so they are protected from the increasing inflation and recurring economic crises.
Vietnam
During the pandemics, Vietnam managed to maintain the highest growth rates in the world. The current unemployment rate in the country is low. Meanwhile, the average salary in the country is comparatively low too: just $150 per month. To earn more money and to get better standards of living, people convert their love for video games into considerable income. As a result, Vietnam is currently one of the most P2E-oriented countries in the world.
Conclusion
P2E is full of incredible gaming possibilities, deep expertise, and numerous jobs to offer. Consequently, this industry can contribute to the decrease of unemployment. Meanwhile, this industry enables people to have much fun and to earn by spending time on the things they like. Isn’t this a dream come true?
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