What play-to-earn (P2E) adoption looks like across 26 countries.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
With roughly 7.6% of respondents saying they’ve played NFT games, the UK ranks 23rd out of 26 countries surveyed by Finder as part of its NFT Gaming Adoption Report.
That figure is expected to increase 2.1 times by the end of 2022, with the percentage of people in the UK expected to hit 15.7%.
Men more likely than women to play P2E
With 9% of men surveyed saying they’ve played a play-to-earn (P2E) crypto game before, men are roughly 1.5 times more likely than the 6% of women who said the same.
That gender gap is expected to increase slightly by the end of the year, with 19% of men saying they plan on playing this year, compared to 12% of women, meaning men will be 1.6 times more likely to have played NFT games by the end of 2022.
Those aged 18-34 most likely to play P2E
People aged 18-34 are most likely to play P2E at 14%.
Global NFT gaming trends
NFT gaming is most popular in India, where 34% of respondents say they've played a P2E game. The next highest percentage of P2E gamers is in Hong Kong (29%) and the UAE (27%). Sweden sits at the other end of the spectrum with just 4% of those surveyed saying they'd played NFT games.
With the percentage of those playing NFT games expected to go from 6% to 15% by the end of 2022, France will see the most growth the adoption of NFT games, meaning that NFT games will grow by 2.6 times. Other big movers will be Peru (going from 13% to 29%) and Spain (8% to 17%).
P2E gaming dominated by men globally
Men are more likely than women to say they've played NFT games, with an average of 17% of men saying they've done so compared to 12% of women globally. That gap is at its widest in Singapore, with 32% of men saying they own cryptocurrency compared to 13% of women.
Those under 35 lead the way in NFT gaming
Globally, those aged 18-34 are most likely to have played a play-to-earn game, with an average of 18% saying they'd done so, with India seeing the highest percentage of respondents in that age bracket participating in the P2E realm at 42%.
Methodology
In March 2022, Finder surveyed Internet users in 26 countries on NFT gaming. Participants in all regions, with the exception of the UK where the survey was conducted by CensusWide, are Internet, smartphone and Google AdMob users. Sample sizes range from 1,000 to 3,800 people and are directly proportional to population size. Participating countries are selected based on global Finder site traffic and availability on research platforms.
Survey results are analyzed using Google's Data Studio, which provides weighted averages for the top-level responses, along with breakdowns for sex and age.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Richard Laycock is Finder’s NYC-based senior content marketing manager & insights editor, spending the last decade data diving, writing and editing articles about all things personal finance. His musings can be found across the web including on NASDAQ, MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University, including a semester abroad at The Missouri School of Journalism (MIZZOU).
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