The global Web3 games market is anticipated to grow from USD 4.6 billion in 2022 to USD 65.7 billion in 2027, a CAGR of 70.3% during the forecast period. This will be fueled by increased affordability and accessibility for users. However, today, the high cost of NFTs has been a significant barrier to entry for many players.

One World Nation (OWN) is a play-to-win Cryptoverse game built on Polygon. It is revolutionizing the way players access and purchase non-fungible tokens (NFTs) within games. They have been working to resolve entry and access related issues with two main initiatives:

one. loan market – Marketplace that allows players to borrow NFTs for free.
2. Buy Now Pay Later (BNPL) – Buy NFT for a fraction of the full price.

BNPL has been a major driver of growth in the Web2 e-commerce space, with a 300% increase in users in the US alone over the last three years. This model has also been shown to drive brand loyalty and retention in the Web2 space, something Web3 games really need. With the BNPL service, users can buy Cryptonite NFT for as low as $19 down payment, which is only ~15% of the total asset price. The NFT balance payment is automatically recovered from the user’s game winnings.

BNPL has attracted interest from NFT buyers and sellers within the ecosystem:

one. affordability – Buyers love the convenience and affordability that BNPL offers. Players who only played with rented NFTs started buying NFTs to become OWNERS. More than 600 NFTs have been purchased through BNPL with NFT sale amount crossing $55,000.
2. faster sales – Sellers have seen a reduction in “time to sale” of almost 5 times.

Users cannot sell or transfer NFTs purchased through BNPL unless full payment is made, which typically takes 30-40 days. This helps ensure that the seller is protected against any potential breach. So in a way, the NFT itself is the collateral. BNPL is an important step towards OWN’s broader goal of adding 1 billion users to the crypto ecosystem, and the company is excited for the journey ahead. With the BNPL model, OWN makes it possible for players to own their favorite NFTs and play the games they love, without breaking the bank.

2022 was a complete rollercoaster for the crypto industry plagued with token price crashes, major crashes, and attacks. It is touted that 2023 will see the transition of the NFT gaming industry from adolescence to adulthood. Despite all the volatility and FUD, we believe new trends will emerge and web3 and NFT gaming are here to stay. Market recovery, increased adoption by larger companies of Web2, and game modeling and technology innovations will spawn exciting new NFT and Web3 Gaming projects and trends. All of this will be spearheaded by making assets affordable and accessible.

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