The age group that grew up with online games, playing video games and virtually meeting friends is the Generation Z. So the transition to digital assets is natural. And for many, their introduction to cryptocurrency and NFTs came in the form of play-to-earn games. These games reward players with cryptocurrencies and NFTs. Below is a summary of the generation. It was generated by a bot.
Gen Z
The “Zoomers,” or Generation Z, were born between the mid-90s and early 2000s. They spent their adolescent years playing video games, online, and meeting friends virtually. Unlike traditional stocks and bonds, these assets are unregulated and offer little protection to investors. Hence, they are attracted to them by the promise of making a quick buck. Despite these risks, they are eager to invest in these digital assets.
Cryptocurrency has quickly become an addiction among younger people. YouTubers like Brian Jung, who has over a million subscribers, are helping to spread the word about cryptocurrency. While the market is volatile, many young people are attracted to cryptocurrencies, especially those with high price tags. However, it is important to remember that investing in crypto may result in financial losses and addiction. To avoid falling prey to the lure of these virtual currencies, governments must legitimize them.
Play-to-earn video games
Among the new trends in cryptocurrency and NFTs is play-to-earn video games. These games use blockchain technology to authenticate digital items and turn them into a form of work. The developers of these games – Microsoft and Valve – are leading the way. They are creating a metaverse where gamers can make allegiances and earn money. The games also let players upgrade their houses and hang out in taverns.
While many millennials are not familiar with NFTs, this new phenomenon is catching on among Gen Z. It is not just video games that are generating huge revenue. Axie Infinity, for example, has NFTs that are worth more than a full-time job. In fact, trading NFT cat monsters is a safer career choice than being a teacher. However, there are still a few pitfalls to watch out for.
Cryptocurrencies
Generation Z is the millennial group who grew up playing online games and socializing virtually. So it’s only natural that their first experience with cryptocurrency and NFTs will be in the form of play-to-earn games. These games will often reward players with cryptocurrencies or NFTs. These digital assets have a high volatility, and there is little investor protection. This makes them appealing to this millennial group.
But what should governments do? First of all, they should legitimise cryptocurrency and NFTs so that they don’t become addiction-inducing. These technologies are constantly infiltrating our society and causing both financial losses and addiction. Among the experts is Andy Leach, an addiction therapist in Singapore. He has seen a soaring number of young clients addicted to NFTs and cryptocurrency, and has also witnessed its rise and fall.
NFTs
The age group known as Gen Z, or the “Zoomers,” was born between the mid-1990s and the early 2000s and grew up playing games and meeting friends virtually. Their first experience with digital assets is through play-to-earn games, which reward players with virtual goods like cryptocurrencies and NFTs. In addition, the emergence of a thriving crypto community is inspiring many young people to join the cryptocurrency revolution.
Although many digital asset traders will eventually lose money, these stories are not likely to scare off younger merchants. Many of the Gen Z traders have acquired digital assets through “play to earn” video games. These assets can be used within the game or traded for real cash. A few of these young people have even quit their jobs to trade digital assets full-time. In fact, one such young man quit his job as an advertising executive to focus on cryptocurrency and NFTs.
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