Play-to-earn games are a subset of games that allow players to participate in in-game microtransactions to win prizes or in-game currency that can be converted to real money.
Microtransactions have traditionally been made possible in the video game economy through various commodities and currencies.
And it has become one of the payment options for online casino real money sites. We understand that there are many different views on the value and importance of micro-transactions. One thing about them, though, is that they changed the game scene. Therefore, you can participate in the industry.
Impact of Play-to-Earn on the Economy
P2E games are expected to have a significant impact on the gambling economy. In the past, depositing real money in exchange for assets participating in microtransactions was familiar, but with P2E, you can get these products simply by playing the game. Receive the currency needed to purchase items.
This is the difference between earning and unlocking items. In other words, you can decide to play Game A (because it’s easier to collect assets), convert them into money, and use that money to buy coins in Game B.
Another option is to take the money out of the game and use it to pay the rent. This opens up new ways for experienced players to support their entertainment and lifestyle. Always have fun in your virtual environment.
Role of NFTs and Cryptocurrencies in P2E
NFTs play an essential role in the P2E environment. Non-fungibility refers to having an immutable, unique digital identity that cannot be duplicated, replaced, or shared because it is stored on a blockchain.
This blockchain allows both ownership and verifiability. These P2E games can reward players with cashless treasures they can accumulate or trade at their discretion, thanks to NFTs.
In addition, it offers extraordinary gaming experiences, such as training the only monster of its kind and using blades with superior stats.
Cryptocurrency is one of the ways these games are rewarded for participating. Various digital tokens and assets offered for gaming activities are often representations of or redeemable for cryptocurrencies such as Ether. You can turn your game time into cash by exchanging your loot for real cash or merchandise.
Examples
Massively multiplayer online role-playing games (MMORPGs) and one-on-one real-time strategy games are two examples of Play-to-Earn (RTS) games. Some games work differently and have different reward systems.
The only thing that ties them all together is that he can earn on P2E games with the pleasure of gaming. Hundreds, if not thousands, are available or currently in development. Some of them are detailed below. Doing your research (DYOR) is highly recommended for any game where you invest time and money.
Illuvium
Illuvium is an Ethereum-based NFT collecting and auto-battle game. Players can earn $Ilv and their NFTs while battling in an open-world RPG. One of the most popular P2E games, Illuvium, aims to blur the lines between play-to-earn and AAA games.
Galaxy Fight Club
A game called Smash Bros. on the blockchain, Galaxy Fight Club has gameplay similar to Brawl Stars. A PvP fighting game in which players with different NFT collections compete against each other for victory. Players can earn by earning their NFT or $Gcoin.
The Sandbox
The digital metaverse, Sandbox, allows users to create, control, and monetize virtual experiences. This might be the closest thing to the Ready Player One experience. So, consider it as a starter.
Axie Infinity
Players can collect, farm, breed, battle, trade, and trade NFTs known as Axis in the trading and fighting game Axie Infinity. For a new player to earn money in Axie world, he must purchase at least 3 of Axis.
Our Thoughts
Playing video games is a great way to kill time and earn a little extra money without much effort. A great way to make money while earning virtual currency by playing games is. As blockchain technology and cryptocurrency become more common in the gaming industry, there are ways to earn cryptocurrency by playing otherwise inaccessible games.
However, like any cryptocurrency initiative, this business is still in its infancy.
There are opportunities, but there are also risks that must be considered. Since the technology is new, it may take some time to understand.
As time goes on, blockchain technology will significantly impact the gaming industry. Before investing, if you are interested in playing with cryptocurrencies, you should do your research.