Play-to-Earn Gaming Sweeps the Crypto Space
Play-to-Earn games have gained tremendous popularity in recent years. The gaming community got hooked to it primarily due to the thrill associated with the games and the lucrative awards. If you look at the recent figures, some of the popular titles have more than 1 million active users. Every game, genre, niche, and the whole Play-to-Earn gaming space has a community around it, with members actively interacting and, in some cases, promoting the game on various social media platforms. Word-of-mouth promotion seemed to have worked well for these.
What are Play-to-Earn games in the true sense?
As the name suggests, any game that rewards users for participation will fall under this category. But, there’s a critical aspect here, the rewards offered should have some real-world value. So, if a game only provides coins that are redeemable within the ecosystem and of no apparent value outside of it, these wouldn’t come under the Play-to-Earn domain.
The rewards offered could be anything, ranging from the in-game tokens, the native token on the platform, NFTs, skins, and weapons, amongst others. Every game may reward users with one or more of these. It all depends on how the game is developed and the items integrated into it.
How do Play-to-Earn games differ from regular games?
It’s quite simple! For regular games, you have to shell out a certain amount, either for purchasing it or unlocking the full version. While in Play-to-Earn games, you get rewarded for active participation without having to shell a penny, though, for some of the titles here, you have the option to progress quickly through the initial stages by acquiring certain items from the marketplace.
Also, as discussed earlier, the rewards available in Play-to-Earn games hold value outside of it as well. To understand it better, let’s take an example. Say you are playing a game from the GTA series. Any points or rewards won for completing a mission help you progress in-game but cannot be sold or redeemed for fiat currency.
When talking about Play-to-Earn games, let’s consider ADA Demon, a popular title with a whole ecosystem revolving around it. Here, when you collect items or receive rewards, generally NFTs or the platform’s native token, these can be traded in the built-in marketplace or on exchanges. Also, there’s the option to stake the tokens, where you lock them on the blockchain for a certain period to verify transactions and receive a regular stream of funds as rewards.
Can I earn rewards without actually playing the game?
Yes, we now have titles that reward users simply for watching the live stream of the game, and these have become extremely popular amongst the gaming community. Methods like these are a great way to get users acquainted with the gameplay and understand the intricacies involved.
Besides, there are a bunch of other rewarding protocols employed, for instance, placing bets. Here, instead of directly playing the game, users stand a chance to earn if the player of their choosing wins the round or game, as the case may be.
What’s the future of Play-to-Earn games?
Play-to-Earn games are developed on the blockchain, and with the industry still evolving with each passing day, the future looks bright. And the best part, a large part of the industry is still unexplored, offering developers the option to come up with great ideas and fill these voids.
If you find a Play-to-Earn game with an intertwined ecosystem and a native token with market-oriented tokenomics, investing in it might not be a bad idea after all. Also, with options like staking and liquidity pooling, investors are bound to make decent returns with Play-to-Earn games. But it all depends on your current situation and the market dynamics.
Even if you don’t want to, the concept of Play-to-Earn games in itself is impressive and has a long way to go. The funds being pumped into the development are a testament to the craze building around these and how developers are leaving no stone unturned to make the most out of the situation.
When it’s come to Play-to-Earn games, there’s no dearth of innovation and creativity. We have a plethora of new titles released each day, employing the latest protocols and offering advanced features. If you haven’t tried these yet, we recommend starting with ADA Demon, Axie Infinity, or the De-Fi Kingdom for the best experience.