I think play to earn as a model has failed, the high inflation rate of these tokens makes them bad for holders. look at Axie that pioneered this model, people were able to game the process. I believe the model of Microsoft and Sony will still stand the test of time, the reason being that the quality of games in the blockchain space is still low, so for blockchain games to compete in the big league, they need to start to deliver quality games to the players, most people playing games to enjoy it and have fun and do not care about tokens but the quality of the graphics and the storyline
Yeah, I totally agree with you. P2E model may have some potential, but it still has a long way to go before it can compete with traditional gaming companies like Sony and Microsoft.
I think the success of these blockchain games will depend on whether or not they can deliver high-quality games that players will actually enjoy playing. I also think that the inflation rate of these tokens is a big issue, and it may turn players away from these games in the long run.
So, while I do think that play to earn games may have a future, I don't see them taking over the gaming industry anytime soon.