Irene Omar: Play to Earn is the Next Esports

During a panel discussion on ‘The Role of Guilds in the P2E Ecosystem’, YGG SEA co-founder Irene Umar was bullish on the future of Play-to-Earn (P2E).

YGG SEA is Asia’s largest blockchain gaming guild, with over 10,000 scholars on its roster. Moreover, Irene Umar has a very active role as Country Manager for Indonesia.

Omar gave an emotional speech, which captivated the audience at the Play2Earn Expo Asia in Bangkok, predicting that Play-to-Earn would become the force that Esports is today.

He said: “Play-to-earn is still in very early days. Seven years ago esports was the same. Seven years ago when I invested in an Esports company, all the venture capitalists said to me: Irene, what is this Esports thing? No one will see it in the stadium. Fast forward to where we are today? Esports is huge and there is a talent shortage in the Esports industry. The same thing is going to happen with the play-to-earn model. This is (Play-to-Earn) Stage 1.

“Investment has to happen, money has to come in. It’s the same argument as an industry in the world. Innovation has to happen, people (need to be onboarded).

Omar joined fellow guild owners Cholo Maputl (Play It Forward), Johnny McWhorter (Morpheus League) and Ben Wee (Crypto.com) on a panel as they debated the role of guilds and how they are evolving as an ecosystem.

Guilds play a fundamental role in onboarding traditional gamers into the Web3 ecosystem and purchasing the resources needed to help their ‘scholars’ start blockchain gaming.

Additionally, guilds provide an infrastructure of support and even offer multiple career paths for those willing to dedicate themselves to the gamification industry.

Omar also spoke of his pride and purpose in what guilds have already accomplished in the Web3 ecosystem.

“I’m so proud of my scholars because despite bear markets, they stay,” she said. “We are onboarding scholars who will be with us through thick and thin. We’re the first to encourage them to come into the Metaverse and build their first wallet, and that’s why they stick around.”

“Being a gamer is the first profession. Down the line, many more jobs will be created. As a guild, I want to give them a chance because as a guild, we change people’s lives.”

During the discussion, the panel discussed the games they invest in and all agreed that the game must be fun, first and foremost.

There has been much debate about the P2E model and it attracts criticism from the traditional gaming world.

The perception is that P2E is cruel and profit-driven at the expense of enjoyment.

In fact, the P2E model is already evolving into something different, with the emergence of new models such as ‘Play-and-Own’, which focus on ownership of assets rather than revenue from a game.

After Axis Infiniti’s monumental growth during the Covid pandemic, the industry has started to move forward.

Now, the focus is on engaging games that will onboard the masses, not profit driven ones.

Umar continued: “For us, the first thing we look at (as a guild) is – will the community like playing the game. Because it’s a game. If it’s not a game people like to play, it’s called a job.”

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