Top 10 interesting reasons why play to earn isn’t going away anytime soon

In the 50 years that home video games have been around, they have always been a way to have fun and take your mind off a hard day’s work. But now a new generation of video games rewards players with cryptocurrency using blockchain technologies like NFTs. In some countries, these “play to 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 live in this strange new world.

Some people have cheered the rise of “play-to-earn” games, saying they give users rewards for doing things they would have done for free before. However, many players were unhappy about the unwelcome addition of trading to the world of “escape” games.

How do “play to earn” games work?

In the simplest terms, play to earn games are video games where the player can get real 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 game. Non-fungible tokens, or NFTs, are cryptographically unique tokens that can be used to prove ownership of content such as images or music. In blockchain games, players can own things in the game, such as virtual clothes or pieces of land.

In regular games, in-game items are kept on closed data networks and belong to the company that made the game. However, with NFTs, players can own the unique assets they buy. Also, once you own the NFT, you can sell it anywhere, not just on the platform it was made on, which is not possible with regular games.

This means that NFTs representing in-game items can be bought and sold on any NFT market for real money. These NFTs have real value because they are hard to come by. With regular games, the only reason to play is for fun. You pay for the game, and unless you are a pro esports player or a streamer with a lot of followers, you will never be able to earn money playing it. Blockchain games, on the other hand, give players the chance to win real money.

Because blockchain technology allows users to transact wherever they are, players can transfer value and get paid to play regardless of who they are or where they are in the world.

Play to earn games are becoming more and more popular.

The biggest play-to-earn game by a long shot 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 with them, and breed them as they play. As a reward for battles, players get Smooth Love Potion (SLP) crypto tokens, and Axie Infinity Shard (AXS) tokens are used to vote on decisions about the game and its future.

You collect cute monsters to fight with in Axie Infinity. Axie Infinity is shown. With 2.8 million daily users and a total trade volume of $3.8 billion, Axie Infinity has become one of the most popular play-to-earn games. In countries like the Philippines and Indonesia, people even play Axie to support their families. There have also been “Axie exchange” programs like the one Yield Guild Games has, which allows Axie owners to lend their NFTs to other players.

Play-to-earn games are also helping crypto become more popular. Aleksander Leonard Larsen, co-founder of Axie Infinity, says half of the game’s players have never used a crypto app before. But playing the game costs money, and before you can start, you need to buy three Axie NFTs, which can cost hundreds of dollars each. Larsen said, “It’s really hard to start playing Axie right now,” which is an acknowledgment that it’s difficult to get new players started. To solve this problem, Axie plans to give new players a taste of the game by releasing free starter Axies that can only earn a small amount.

The blockchain gaming industry is in for a shake-up. Last year, the popularity of blockchain games peaked. Many popular games are now addressing sustainability concerns this year. The significant players emphasize graphics, storytelling and gameplay to keep players interested. The shift from Play-to-Earn to Play-and-Earn is a sign of the blockchain industry’s maturation. Last year there was a lot of craziness and questions about the future of games that didn’t seem to prioritize desirability, playability or fun.

Meanwhile, games that make their way into the blockchain world must understand that if their first goal is to provide an excellent gaming experience, they will succeed.

Also Read – Blockchain and Gaming: Possibilities, Challenges and Real-Life Examples

Blockchain has already changed the gaming business by rewarding players in exchange for success in the game. These Play-to-Earn games grew in popularity during the pandemic, ushering in a change in the Pay-to-Play paradigm. Blockchain will undoubtedly dominate the video game industry, but what does the future hold for blockchain games? Let’s see what happens!

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

For example, Sky Mavis’ popular game Axie Infinity has around 2.5 million daily active users. As of August 2021, Axie has sold one billion dollars, making it the first Ethereum-based game to do so. After the huge success of Axie, the market was flooded with every possible Play-to-Earn game.

Axie Infinity: Origin

– 3 Free Appetizer Axies ✨– All New Maps 👀– Axie Upgrade 🛡️– Live in Early Access 🪶

Download: https://t.co/AKsLWu1QXz pic.twitter.com/pqNWgiiIws

— Axie Infinity🦇🔊 (@AxieInfinity) April 18, 2022

The excitement of the pandemic continues this year, but several games are concerned about sustainability and are looking at measures to ensure long-term viability. Axie Infinity is one of these players, and it tries to improve its appearance and gameplay. The major factors in the Play-to-Earn industry are concerned about a possible backlash due to its flaws. While blockchain games have a long way to go, games that overlook the basics in favor of monetary gain will not last long. As the blockchain gaming sector evolves, only the best games will survive. Basic graphics with a sign on the side will no longer suffice. Players want to have fun while earning money.

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

The solution can be seen in the most successful traditional games, where all the fundamental components, such as aesthetics, gameplay and learning, still attract players to invest in them. This still does not rule out the possibility of exploring new ways to create valuable digital assets using blockchain technology.