Co-founder of gaming powerhouse Electronic Arts (EA) and veteran of the video game company Jeff Burton has joined Canadian blockchain gaming startup P2Earn as Chairman of its Board of Advisors.
P2Earn is a publicly traded Web3 gaming company that intends to provide players with a virtual environment, tools, and access to video game NFTs in return for a share of their wins. A recent tweet stated that by the end of Q2 2023, the platform would be made available on the Polygon Ethereum scaling network.
Burton shared his excitement about becoming a part of P2Earn’s advisory board as the play-to-earn gaming industry prepares to go mainstream. He stated that he had held the belief for a long time that the idea of players receiving a portion of the profits through gameplay is the future of all gaming.
Burton is also optimistic about these “guild” structures, which resemble typical gaming and esports industry organizations or “orgs.” Additionally, he asserted that play-to-earn gaming could promote “social mobility” and develop a distinct economy.
Since 2017, Burton has had an earnest interest in cryptocurrencies. He formerly served on the Board of Advisors for BitDegree, a provider of crypto courses, according to his LinkedIn profile.
At present, he holds the position of Chairman of the Board of Advisors for Engines of Fury, a Lithuania-based crypto game that is in beta. This game is a combination of MOBA and RPG genres, known as a “MOBA RPG,” which allows players to battle monsters and explore dungeons.
Alex Lineton, CEO of P2Earn, revealed in a statement that the guild intends to add more gaming industry veterans to its board.
Lineton stated that the company is delighted to welcome Jeff as they prepare for the public launch of their gaming guild. Lineton emphasized Jeff’s significant experience and industry connections, which are proving to be invaluable as they move toward the next phase of expansion.
Play-to-earn gaming, wherein players achieve crypto tokens in return for playing, typically with purchased or borrowed NFTs, exploded in 2021 due to the popularity of the monster-battling game Axie Infinity. Axie amassed billions of dollars value of NFT sales in just a few months at its peak.
The play-to-earn model dropped out of favor as players criticized the game’s simplistic gameplay and emphasis on financial reward over enjoyable gameplay as the game’s economy crashed in early 2022 and the broader crypto market deteriorated. The company P2Earn is placing a bet on having a future beyond its current state.