Play to Earn is emerging as a popular business model and has become a popular trend in the DeFi gaming industry.
The article will give everyone some basic information so that you can understand what Play to Win is. Of course, this information is also enough for you to know about it.
What is playing to win?
Play to Earn is a model in which a platform offers players the opportunity to earn any form of in-game asset that can be transferred to the real world as a valuable resource.
Especially not universe blockchain and NFT. Play to Earn gives players an effective opportunity to generate revenue by participating in the game. The player creates value for other players and developers by participating in the game ecosystem and earning assets for their contributions.
How has Play to Earn evolved?
Like other industries, online gaming has also seen a plethora of trends, such as multiplayer online battle arena (MOBA) games. Many names are mentioned and the list is growing.
According to Statista, the global gaming market is estimated to reach $268.8 billion by 2025, up from $178 billion in 2021. Real consideration of gambling is encouraged in many countries.
The cryptocurrency industry has recognized the potential of this growing segment where blockchain-based technology can positively impact. This has been largely enabled by the explosion of Non Fungible Token (NFT) games. Developers understand that they can create and deliver tangible value within the gaming ecosystem, providing extra incentive for those who spend time playing games.
This is how the Play to Earn model, especially related to cryptocurrencies, was born and began to grow rapidly.
In this article, I and everyone will mainly explore the Play to Earn model in the cryptocurrency industry, some concepts to consider, and the most famous Play to Earn games.
Play to Earn how it works?
A key component of this model is to provide players with “ property ” about some of the game content and allow them to add value by actively playing.
With cryptocurrencies, it is possible to determine ownership or transfer it through the use of NFTs.
Ao participarem um jogo, os jogadores criam valor uns para os outros no ecossistema e para os desenvolvedores. Em exchange, o jogador recebe uma recompensa na forma de ativos no jogo. Esses ativos podem ser qualquer coisa, desde personagens com escassez até criptomoedas. No Axie Infinity, por exemplo, os jogadores ganham Small Love Potions (SLP).
- The main idea is that in play to win games the player is rewarded for putting more time and effort into the game.
This is a refreshing development in the cryptocurrency market. It has only become popular recently, especially with the advent of a flagship project – Axie Infinity, after which many other projects were formed.
Check it out now: What is it? Axie Infinity (AXS)? Project Details and AXS Token.
Is Play to Earn free to play?
About the question of Play to Earn game is free or not? Of course the answer is yes or no. This is totally based on each game developer's view. Let's say you find a free game. But there are some other games that you want to play that require you to contribute something.
O benefício do jogo Play to Earn é que o jogador gera algum valor trading. Mesmo que eles precisem pagar para começar a jogar, esses itens podem ser vendidos com potencial de lucro.
It can be seen that most free games require some form of initial financial commitment to unlock basic abilities and complete the game.
How to get started with Play to Earn game and earn cryptocurrencies?
Depending on the Play to Earn game, there will be different requirements for new players. At the basic level, you will need a fully featured wallet to store your cryptocurrency and connect it to the game.
- There are several wallets better for it.
You may also need initial capital to play the game, such as forming a team of characters or purchasing items used in the game.
- Example : As of October 2021, Axie Infinity requires an initial investment of approximately $600 to purchase three Axes. While players can earn back a few months after playing, this still creates a barrier to entry.
Alternatively, you can borrow Axies from other players for free and then share the earnings you receive. Once you’ve built your initial team and completed quests, you’ll start earning a steady stream of SLPs.
Best Play to Earn Games to Earn Digital Coins
Axie Infinity
Axie Infinity é sem dúvida o jogo Jogue para Ganhar mais popular no mercado de criptomoedas. O projeto é inspirado em alguns jogos populares como Pokémon e Tamagotchi. Os jogadores podem coletar, criar, criar, batalhar ou negociar criaturas baseadas em Token, é claro, chamadas de Axies.
O token nativo do protocolo é AXS eé usado para participar do gerenciamento. AXS também pode ser Staking.
However, there is SLP token, which can be earned in games. It can be used to create new axes. Players can accumulate SLP throughout the game and that is how they can basically earn. Both siblings AXS and SLP can be traded on Binance.
Of course, the player's earnings will vary based on the SLP price at the time of sale. If there is a high demand for it, his income may increase proportionally.
Decentralized
Decentraland is a very popular game. The project was launched in 2017 through an ICO, which raised $24 million.
It's a virtual world, a parallel universe that runs on Ethereum, and players can create, experience, and monetize different content and applications. The user can buy plots of land. Then they can moderate it in a way that makes it more engaging, they can build on it, and potentially monetize it.
The native of Decentraland is MANA. MANA is an ERC-20 token and can be burned to obtain ERC-721 LAND tokens. MANA can also be used to pay for different names, avatars and other things available on the Decentraland marketplace.
O futuro do Play to Earn
Play to Earn games like Axie Infinity have helped people around the world, especially in countries hit hard by the pandemic, earn a lot of money. Other NFT games include Lost Relics, Splinterlands, CryptoBlades, and more.
The NFT market surpassed $2.5 billion in revenue in 2021. This number is expected to grow exponentially as new NFT games flood the market. The NFT explosion is creating a new generation of revenue streams within the blockchain world and will likely surpass many other industries.
Conclusion
Starting from the above basics, Play to Earn is currently very fertile and is expected to grow strongly in the future thanks to the NFT boom. Many believe that blockchain gaming is the future of the video game industry. Play to Earn is becoming a viable business model that allows both developers and players to earn. What do you think about this trend?