Top 10 Intriguing Reasons Play To Earn Isn’t Going Away Anytime Soon

    Published on:

    In the 50 years since their inception, home video games have always been a fun way to distract from a hard day's work. But now a new generation of video games is using blockchain technology, such as NFTs, to reward players with cryptocurrencies. In some countries, these “play and earn” games are played.

    In the 50 years since their inception, home video games have always been a fun way to distract from a hard day's work. But now a new generation of video games is using blockchain technology, such as NFTs, to reward players with cryptocurrencies. In some countries, these “play and earn” games are already allowing people to make a living playing video games. Scholarship programs and academies have sprung up to help players figure out how to survive in this strange new world.

    Some celebrate the rise of “play to earn” games, saying they reward users for doing things they used to be able to do for free. However, many gamers are unhappy with the unwanted addition of commerce to the world of “escape” games.

    How do “play and earn” games work?

    In the simplest terms, play-and-earn games are video games that allow players to earn real-world rewards.

    People have long made money from video games through things like “gold farming” and unofficial markets for in-game items. However, blockchain technology and non-fungible tokens (NFTs) have completely changed the situation. Non-fungible tokens (NFTs) are cryptographically unique tokens that can be used to prove ownership of content such as images or music. Blockchain games allow players to own things in the game, such as virtual clothes or land.

    In a typical game, in-game items are stored on a closed data network and belong to the company that created the game. However, NFTs allow players to own the unique assets they purchase. Also, owning an NFT allows you to sell it anywhere, not just the platform it was created on, which is not normally possible in gaming.

    This means that NFTs representing in-game items can be bought and sold for real money on any NFT marketplace. These NFTs have real-world value because they are difficult to obtain. With regular games, the only reason to play is because it's fun. You pay for the games, but unless you're a professional esports player or a streamer with a lot of followers, you can't make money playing them. Blockchain games, on the other hand, give players a chance to win real money.

    Blockchain technology allows users to conduct transactions from anywhere, allowing players to transfer value and receive rewards for playing, no matter who they are or where they are in the world.

    Play-to-earn games are becoming increasingly popular.

    Arguably the biggest play-to-play game is Axie Infinity, a Pokemon-like monster fighting game released in 2018 by an independent studio called Sky Mavis. In the game, players collect cartoon creatures called Axies, which are represented by NFTs. Each Axie has its own strengths and weaknesses, and players can take their Axies on adventures, fight together, and breed them as they play. As a reward for battles, players obtain Smooth His Love Potion (SLP) crypto tokens, and Axii Infinity Shard (AXS) tokens are used to vote on decisions regarding the game and its future.

    Collect cute monsters to fight in Axie Infinity. Axie Infinity will be displayed.
    With 2.8 million daily users and $3.8 billion in total trading volume, Axie Infinity is one of the most popular play-to-earn games. In countries such as the Philippines and Indonesia, some people play Axii to support their families. There are also “Axie Scholarship” programs like Yield Guild Games, where Axie owners can lend their NFTs to other players.

    Play-to-Earn games are also helping to increase the popularity of cryptocurrencies. Axie Infinity co-founder Alexander Leonard Larsen says half of gamers have never used a crypto app before. But the game costs money to play, and before you can start, you'll need to buy three Axie NFTs, which can cost hundreds of dollars each. “It's really hard to start playing Axie now,” Larsen said, acknowledging that it's difficult to get new players up to speed. To solve this problem, Axie plans to give new players a taste of the game by releasing a free starter, Axie, where you can only earn a small amount.

    The blockchain gaming industry is undergoing a major transformation. Last year, blockchain gaming reached its peak in popularity. This year, many popular games have started addressing sustainability concerns. Key Players emphasizes graphics, storytelling, and gameplay to keep gamers interested. From Play-to-Earn play and earn This is a sign of the maturity of the blockchain industry. The past year has seen a lot of craziness and questions about the future of games that don't seem to prioritize desirability, playability, or fun.

    On the other hand, games looking to enter the blockchain world need to understand that they will be successful if their initial objective is to provide a great gaming experience.

    Also read – Blockchain and gaming: possibilities, challenges, and real-world examples

    Blockchain is already changing the gaming business by rewarding players in exchange for in-game success. These Play-to-Earn games have skyrocketed in popularity during the pandemic, leading to a shift in the pay-to-play paradigm. There is no doubt that blockchain will continue to dominate the video game industry, but what does the future hold for blockchain games? Let's wait and see!

    Play-to-Ear games generate billions of dollars in revenue.

    for example, sky mavisThe popular game Axie Infinity has around 2.5 million daily active users. As of August 2021, Axie has grossed $1 billion, making it the first Ethereum-based game to do so. After the huge success of Axie, the market was flooded with all sorts of play-to-earn games.

    While the excitement of the pandemic continues this year, some games are concerned about sustainability and considering measures to ensure their long-term survival. Axie Infinity is also one of those players who strives to improve its appearance and gameplay. A major factor in the Play-to-Earn industry is concerned about the potential backlash due to its flaws. Blockchain games have a long way to go, but games that ignore the basics in favor of financial gain won't last long. As the blockchain gaming space evolves, only the best will survive. Basic graphics with tokens on the side are no longer enough. Gamers want to make money while having fun.

    Here comes the topic of what makes a decent Play-and-Earn game.

    The solution is found in the most successful traditional games. There, fundamental elements like aesthetics, gameplay, and lore all keep players invested. This does not exclude the possibility of exploring new ways to create valuable digital assets using blockchain technology.


    Leave a Reply

    Please enter your comment!
    Please enter your name here