[P2E What Is It ②] "Earn Up to 7,000 Won a Day" Making a Salary with Games... What Is the Truth?

"I am a user of one month. Currently, a maximum daily profit of 7,000 KRW is expected."

Videos and posts verifying earnings from Netmarble's 'Modoo Marble 2: Meta World' (hereafter Modoo Marble 2), released last April, are steadily appearing. This game attracted great attention even before its release by incorporating P2E (Play to Earn). Although there were stories in some countries in the past about earning a salary-level income through P2E games, the reality was different.

P2E Games Are Ultimately Games, Requiring Long Hours of Investment

The biggest concern for P2E game users is how much money they can actually earn. P2E games are also called 'ssalmeok,' a slang meaning 'earning rice by playing games.' This reflects the high expectations for profits earned through P2E games. However, since P2E games are ultimately games, making real profits requires a long time investment.

After Modoo Marble 2 was released on April 19 by Netmarble, posts verifying user earnings began to appear steadily after more than a month. Since P2E games are banned domestically, the P2E-enabled version was released overseas. Domestic users were found to have used virtual private networks (VPNs) to access the overseas version.

Modoo Marble 2 applies board game elements from its predecessor 'Modoo Marble' and includes buying and selling real estate in a metaverse based on real-world terrain. To earn profits, users must convert 'Meta Cash' generated from real estate investments into Netmarble's virtual asset 'MBX' and then cash it out. Meta Cash can only be obtained through real estate investments, and real estate can only be purchased if the user has 'Diamonds' and 'Crystals,' which are earned through gameplay.

The problem is that purchasing real estate does not immediately yield Meta Cash. The real estate must reach a certain grade level, which requires significant time investment in the game. To shorten this time, users must buy Diamonds, the in-game currency, with real money. Currently, the earnings from such investments are only up to 7,000 KRW per day. It would take several months to recover the investment cost.

Flowchart of Currency Circulation in Modoo Marble 2 Metaworld

'P2E = Bada Iyagi' Distrust... A Long Way to Go

Some compare P2E games to 'Bada Iyagi,' a game that caused major controversy in the past. They argue that the refundability introduced in the games is essentially no different from gambling. However, as seen in various cases, the profits that can be earned through P2E games are very limited, making it unlikely to cause gambling-like addiction.

Nevertheless, P2E games have many issues. The biggest problem is 'game quality.' P2E games released by domestic companies such as Modoo Marble 2 and Wemade's 'Mir4' have received positive reviews from users. However, many overseas games that emphasize only the refundability of in-game currency suffer from poor game quality. As a result, many people perceive P2E games themselves as low-quality games.

The instability of virtual assets, a core element of P2E games, is also problematic. Virtual assets experience significant value fluctuations due to market volatility. To maintain a stable market price, intervention by the game company is necessary, but this risks losing market trust. A representative example is last year's case where Wemade's virtual asset WEMIX was delisted from digital asset exchanges due to discrepancies between the initially planned circulation volume and the actual circulation volume.

Regulation is also an issue. Unlike South Korea, where P2E is banned by law, many countries overseas have no related regulations. The current situation, where game services are possible due to lack of regulation, could face operational disruptions if sudden regulations are introduced.