Play-to-Earn (P2E) is a new term that has just recently gained traction. It translates to “play and earn” in English. This is a mechanism allowing gamers and developers to monetize their sites.
The approach involves the ability to trade game objects for digital currencies. But first, I'll discuss the system's benefits, and then I'll show the working mechanism.
Advantages of Play-to-Earn
There's also Free-To-Play and licensing, in addition to Play-To-Earn. The first method (F2P) enables consumers to play for free in exchange for a large amount of traffic. In-game purchases and advertising, such as purchasing skins in Dota 2 or Counter-Strike: Global Offensive, are used to monetize the game.
Play-to-Earn games come with their own set of benefits, which are outlined below:
- The blockchain technology is employed. A digital system is used in part of the game's programming code. As a result, ownership of the in-game inventory is guaranteed. You may remove or transfer an object on a standard server, for example. The blockchain prohibits transactions with the player's property without his permission, even from the creator, and each acquired item is issued a unique id.
- You have the ability to earn. Play-to-Make is a concept that enables you to earn real money while having fun. During the game, users are rewarded. NFT goods may be swapped for in-game cash or vice versa. On cryptocurrency markets, the player may sell models.
- A new gaming business has emerged. The rise of Play-to-Earn will result in a shift in gaming patterns. The integration of technology into current huge projects is the inevitable next step. This hasn't occurred yet on a worldwide scale. However, with the release of NFT, there are already GTA LIVE servers.
Assume you are given money throughout your free time. P2E monetization is becoming a new win-win trend for both players and developers, I concluded.
What is Play-to-Earn and How Does It Work?
Blockchain technology is used in peer-to-peer (P2P) initiatives. Coin-based games are used to store NFT models.
In general, Play-To-Earn platforms are similar to traditional platforms in terms of gameplay. The implementation of the in-game money is what sets it apart.
- The user establishes a connection with the server. It stores information about game items. The platform system is accessed by users who use the service.
- Quests are available as a way to gain game cash. Coins may be used to purchase one-of-a-kind products. Blockchain technology is integrated directly via the gaming interface in certain applications. Bonuses for accomplishing tasks are given in bitcoin right away. It's also feasible to use NFT awards as an alternative.
- NFT goods that have been received may be changed. The Blockchain stores information about models. The server, on the other hand, creates the object's look. They can only be used by the owner.
- It is possible to sell in-game values. On the exchanges, NFTs are in high demand. To benefit from price speculation, many traders employ models. All of the player's changes will be preserved.
The idea is to establish virtual market relationships. A digital currency serves as a universal form of payment. NFT-models or gaming currencies are examples of goods.
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Top Play-To-Earn Projects
There is an intriguing fact, by the way. Tokens are created by game producers. IGO refers to the early marketing of digital assets (Initial game offering). They're based on well-known coins.
Game tokens have their own capitalization and value, much like other tokens. You can monitor the demand for the project among players and dealers based on the attributes.
I'm going to build a list of the three most well-known games. According to the majority, the more tokens purchased, the more attractive the site becomes. By the way, the Play-to-Earn market is about $34 billion in size.
Axie Infinity (AXS)
“Axie infinite” is a game in which you must conquer land. The protagonist is a pet that the player has produced.
Users are rewarded for the advancement of Axi throughout gaming. These pets, by the way, are NFT models. They may be created and sold via online markets. There are three other methods to profit from the game.
Decentraland
Decentraland is a metaverse in which every participant is vital. The execution of the gameplay, not the possibility to earn money, is what makes it intriguing. The game has its own unique characteristics:
- The MANA coin is a virtual reality platform built on Ethereum;
- NFT item and virtual land trade;
- All transactions are carried out only after confirmation in smart contracts;
The Sandbox
The Sandbox is a P2E sandbox based on the same-named project. You may use this platform to create your own virtual worlds and monetise the game experience. The project is remarkably similar to the one that came before it. You can also create and edit things here. The difference today is that it is tokenized and stored on the Blockchain. The SAND coin is used in this game.