The play-to-earn (P2E) model is the virtual economy’s future. You don’t need to look for an exchange to swap DAI to USD because you can get these coins by playing games. P2E accounts for 52% of the world’s cryptocurrency wallets and has over $3 billion in investments. P2E is a mixture of gaming, metaverse, and DeFi (an analog of traditional financial instruments implemented on the blockchain).
What else can we expect in this area? With its introduction in the cryptocurrency sector and gaming, GameFi has gained popularity, providing a steady revenue stream to game developers and gamers. As a result, the GameFi sector remains stable despite the rise of bears in the market and falling prices for non-fungible tokens (NFTs).
What is P2E?
P2E is a group of games that contain tools for making money. They are based on blockchain. This technology protects information about player achievements and assets. As a rule, blockchain games have built-in functions for interacting with non-reference tokens (NFTs). Digital asset formats are useful for the gaming industry. For example, NFT allows you to own characters, virtual items, rewards, and more. To trade and buy non-reference tokens, many blockchain games often open their own NFT markets.
Winnings are usually paid out in cryptocurrencies (often in the native token of the project). In the future, players will be able to spend their coins to buy new items or take them out of the platform and exchange them for stable coins or fiats.
The most popular projects are:
- Star Atlas
- Axie Infinity
- Blankos Block Party
- Mines of Dalarnia
- Nine Chronicles
They can be played on both PCs and smartphones, depending on the implementation chosen by the developer. In addition, there are many cross-platform projects on the market. Therefore, iPhone and Android NFT games are often introduced in browsers.
The concept has existed for a long time. Many online games have internal marketplaces or online auctions. Cryptocurrency games are characterized by the presence of objects and resources in the blockchain. This technology has many features to verify an object’s ownership, legitimacy, and rarity. A blockchain can be considered a permanent database. It is almost impossible to copy, change or delete information.
What Is a Profit?
In today’s situation, people are becoming increasingly dependent on digital technology. Therefore, it is unsurprising that many are looking for new ways to work online. According to search engine analysts, the phrase “how to make money online” is one of the most popular phrases in 2022. As a result, NFT games are one of the many tools for high earnings.
Maybe somebody finds it hard to believe they can make money on the blockchain. But it is so. People in industrialized countries make money by playing these games. The prize fund is directly proportional to the playing time. So it can provide a regular payment.
For example, games like Axie are profitable and widespread in the Philippines. Players can earn from $300 to $1500 per month by playing. Then they can exchange USD to LTC and make more money on it. Of course, everything depends on the market price and also on the duration of the game.
The success of blockchain projects in recent years has been phenomenal. As a result, it is expected that many major players in the gaming industry will introduce the P2E model games soon. This rapid development opens up new strategies and revenue opportunities for NFTs. P2E technology allows players to create digital assets and earn revenue from gaming infrastructure.
The decision to invest in P2E repeats a pattern of reality. You buy a digital property and rent it out, or you buy an asset and decide what to do with it (for example, a spaceship that can explore planets and collect resources or transport goods). If you spend enough time understanding all the subtleties, you will make money on it.