In times past, parents used to admonish their kids for playing video games.
However, thanks to blockchain technology, the notion of a video game being a destructive past-time that adds no value the players to may fast be changing.
A rising number of play-to-earn (P2E) games are allowing gamers to earn real money just by playing. To compensate players for their time and work, these games leverage blockchain technology and non-fungible tokens (NFTs).
In this article, we'll share all you need to know about play-to-earn gaming, including how to get started generating money right away!
Also known as “crypto games”, Play-to-earn games (P2E) are blockchain-based games that redistribute a portion of their revenue to the player base.
Players may earn real money just by playing the game. These games reward players with digital assets like NFTs, character skins, or crypto which are earned by conquering levels, participating in contests, or just simply devoting time to the game.
Players’ assets can be used to unlock further rewards or sold on a digital marketplace. Players may exchange their in-game profits for real money in play-to-earn games.
The adoption of blockchain technology and non-fungible tokens has made this feasible. NFTs may be used to represent in-game assets, and blockchain enables the development of secure digital wallets that can contain actual value.
Play-to-earn games feature their internal economy in which players may purchase, sell, or exchange their game assets for real money.
Gods Unchained is a tactical card game where players design decks that can battle a variety of techniques to tactically outwit their opponents.
A player earns experience points after every victory. The player advances to the next level when their experience bar is full, and a new set of cards is added to their collection.
To acquire cards and partake in PVP matches, players require $GODS tokens.
When a player wins, they gain experience points, which increases their experience bar. The player advances to the next level when the experience bar is full, and a new set of cards is added to their collection. These cards are kept on the blockchain and may be exchanged for ETH or other cryptocurrencies.
NFT marketplace Immutable X, has transacted more than $25 million worth of Gods Unchained assets since its inception in March 2021. The game shows no signs of slowing down, with over 13 million NFTs distributed so far and over 65,000 distinct asset holders.
NFTs symbolize these monsters, and they may be bought or sold for a number of cryptocurrencies. Quests, ranked play, and tournaments are among the several types of games available.
There are over 283 cards in Splinterlands that may be combined to boost stats, acquire strength, and defeat opponents. Water, Life, Death, Dragon, Earth, Fire, and Neutral are the factions that each card belongs to.
The game has two currencies: $SPS and $DEC, with the former serving as the game's governing money and the latter serving as a medium of exchange for in-game assets. Using $DEC, you may buy and sell cards, land, and other game objects as NFTs.
It was one of the original play-to-earn games, and it's still popular today.
Players in CryptoKitties may breed and exchange digital cats. Each of these cats is represented by an NFT, which can be exchanged or sold for Ethereum (ETH).
In Axie Infinity, players spend NFTs to purchase land, Pokémon-inspired monsters known as Axies, and other in-game stuff.
Users may assemble an army of Axies and engage in turn-based warfare with other players. Axies may also be bred, allowing players to create potentially stronger teams or even sell them. If your side wins, you'll receive $SLP coins, which you may swap for fiat money on a cryptocurrency exchange.
This game takes players to a metaverse where they may immerse themselves in the high-stakes world of thoroughbred racing, akin to The Kentucky Derby.
Horses, land, stables, and avatars are all available for purchase, trade, and interaction. Once a player has created an avatar, they may purchase a horse that is based on a real-life racehorse.
The owner of the metaverse horse receives $STT tokens every time the horse wins a race or produces real-world progeny. A Silks Governance token, $SLK, is also available. Holders can join the Silks DAO and vote on important issues.
Alien Worlds is the ideal P2E game for everyone who likes NFTs, outer space, and dystopia.
Players travel in space, mining numerous planets for resources (NFTs), collecting Trilium (TLM), and completing tasks. In the game, there are over 2,000 digital land plots, and each player has their plot in the form of an NFT.
TLM grants players access to the DAO that governs the game's six planets. To receive greater rewards, it may also be switched to Binance Smart Chain (BSC).
The first thing you need to play a crypto game is to create a cryptocurrency wallet. This is where you will store your earnings from play-to-earn games. There are a variety of wallets available, so make sure to do your research to find the best one for you.
Once you have a wallet, then you fund it depending on the game you are interested in. While some crypto games are free, others aren't. You can start looking for play-to-earn games to play to see which suits your budget or interest.
Just like normal video games, crypto games can be highly addictive. So you must make sure to set limits for yourself and don’t lose yourself in the hustle.
Play-to-earn games are still a new and emerging industry which means that there are a lot of risks involved.
One of such risks is its attractiveness to hackers. This is because Play-to-earn games often hold large amounts of cryptocurrency. As such, it is important to play on reputable platforms and never reveal your private keys to anyone.
Because they are crypto-based, the prices of assets are extremely volatile.
This means the fluctuations in the price of cryptocurrencies affect the value of the assets and tokens used in these games. This could lead to potential losses especially when the price of cryptocurrencies plummets.
As the crypto market continues to tank, the value of the game's tokens is following suit, making 2022 a tough year for P2E gamers.
However, this has done little to dampen the enthusiasm for these P2E games. While they can be a veritable source to earn income, it is important that you put strategies in place to check your game time lest you become addicted.
Play-to-earn games can be a great way to earn some extra money, but they should never come at the expense of your wellbeing.
Overall, remember to have fun and don’t take risks that you’re not comfortable with.
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