Video games have come a long way since they were just a fun thing to do for fun. With the rise of blockchain technologies and Non-Fungible Tokens (NFTs), a new generation of games has been made. This has changed the way players interact with virtual worlds. Enter the exciting world of Play-to-Earn (P2E) games, where gamers can now turn their passion into a way to make money.
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What are Pay-to-Earn (P2E) games?
P2E games have changed the way in-game assets are thought of. Before, gaming companies owned and controlled in-game assets. Through NFTs, players can get rewards in these games that have real-world value. In traditional games, items can only be used within the game's ecosystem. With NFTs, however, players can really own the unique assets they earn. This ownership goes outside of the game, so players can buy and sell NFTs for real money on different marketplaces.
Axie Infinity was one of the first companies to do P2E
A great example of P2E success is the monster-fighting game "Axie Infinity," which was released in 2018. In this blockchain-powered wonderland, players collect Axies, which are cute creatures that are represented by NFTs, and go on exciting adventures and fight with them. Smooth Love Potion (SLP) crypto tokens are given out for doing well, and Axie Infinity Shard (AXS) tokens give you the power to vote on how the game will change in the future.
What P2E Gaming Means for Gamers and Business Owners
The popularity of Axie Infinity has been so great that players in the Philippines and Indonesia have been able to support their families through "Axie scholarship" programs. Through these projects, Axie owners can lend their NFTs to other players. This gives people who couldn't use cryptocurrencies before the chance to make money.
Play-to-Earn as a Way to Get People to Use Crypto
P2E games have not only opened up new ways to make money, but they have also helped people start using cryptocurrencies. Aleksander Leonard Larsen, co-founder of Axie Infinity, says that about half of the people who play P2E have never used any crypto applications before. It's important to keep in mind, though, that some P2E games require an initial investment to play fully. Developers are aware of this problem and plan to add free ways to start playing so that new players can join.
New P2E Games: Beyond the Horizon
The P2E revolution is far from over. There are a lot of exciting projects in the works. The NFT avatar series "Bored Ape Yacht Club" is planning to launch its own P2E game, and "The Forgotten Rune Wizard Cult" is working with metaverse developer Bisonic on a "create-to-earn" model. Also, Loopify's upcoming MMORPG "Treeverse" promises to give players NFTs as they explore an exciting virtual world.
Looking into the Metaverse: Where P2E Is Doing Well
At the same time, the metaverse, which is a shared virtual world made better by blockchain, cryptocurrency, and non-fungible tokens (NFTs), is growing. NFTs are used in the metaverse on platforms like The Sandbox, Decentraland, and CryptoVoxels, which lets players explore new worlds. In this digital space, there are also companies like Meta (which used to be Facebook), Adidas, and Samsung. As the metaverse develops, the promise of seamless experiences and cross-platform item transfers will make P2E gaming an even more powerful force.
Play-to-Earn: A Technology That Changes the Game
People all over the world who love playing video games can now do what they love most to make a living: play video games. P2E games that use blockchain technology and non-fungible tokens (NFTs) have changed the way people play games by letting players own and sell in-game assets like never before. As the metaverse grows, a new era of gaming is coming, where profit meets adventure and every move can lead to rewards in the real world.
Facts
- Play-to-earn games let players earn rewards in the real world through NFTs.
With NFTs, players can really own their in-game assets and trade them outside of the game's ecosystem. - Axie Infinity is a great example of a successful P2E game that gives players from all over the world more power.
- P2E gaming helps more people use cryptocurrencies by introducing them to new players.
- Exciting new P2E games like "Bored Ape Yacht Club," "The Forgotten Rune Wizard Cult," and "Treeverse" are about to change the way people play games.
- The metaverse is a shared virtual world based on blockchain and non-fungible tokens (NFTs). It promises to make gaming more immersive and connected.
Play To Earn Games News
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