SEOUL, South Korea, Nov. 28, 2022 (GLOBE NEWSWIRE) — Blockchain technology is becoming increasingly common, fueled by development and innovation around Web3 and the metaverse. Despite being in its infancy, blockchain has already established itself as an important component of the gaming industry. CryptoKitties was the first known blockchain game that allowed users to breed and mint new NFT kitties that could then be sold on NFT markets. As a result of the introduction of NFTs in the gaming industry, a trend of Play to Win, or P2E, emerged which encourages players to earn money while playing the game. In-game items, rewards, and settings can be converted to NFTs by tokenizing them.

According to research by Infinity Business Insights and Bosson, the…