Gamers have used video games for years to relax after a stressful day at work or school. The hobby serves two purposes: it's a pastime, and it can also be used to create and share stories. If your skills are not in the 99.9th percentile, it is impossible to turn your time spent playing a single game into IRL income.
What if things were different? Play-to-earn (P2E), a new type of game, is here.
What is a play to-earn NFT game?
NFT-driven P2E (also known as "crypto" games) gives players the chance to own their in-game assets. These assets are mint by P2E game developers as NFTs on . While they are almost identical to their traditional counterparts in function, in-game currency and NFTs can be used as crypto.
These virtual items, which include skins, characters, weapons, and virtual land, can all be traded for profit just like any other NFT. Some of these assets can fetch a staggering amount on secondary markets, just as with other NFTs.
How does 'play-to-earn' even work?
P2E games are also decentralized, which is a key difference to traditional videogames. The ongoing development of P2E video games is collaborative. Developers often take player feedback into consideration when improving the game. Sometimes, dedicated players form a decentralized autonomous organisation (DAO), to encourage further community building amongst the P2E game's players.
However, players can participate in the development and progression of a P2E-game in a simpler manner. You can just play the game. Players can create value for themselves and other players by participating in the game's in-game economy.
An Axie player spoke out in an interview with CNN Philippines. He expressed his excitement about the game's potential as a P2E title, and how they would be able make a difference on the game’s economy by playing it consistently. I liked the whitepaper. The gameplay was very appealing to me. The player said that he liked the players' plans. "But, what I liked most was how Axie's basic economy would function. There will always be high demand but less supply.
How much does P2E usually cost? It varies from traditional games. Splinterlands , The Sandbox, and The Sandbox are both completely free to play. Titles like Axie Infinity, on the other hand require that you purchase the Axies you plan to use before you start the game.
The best play-to-earn NFT gaming on the market
Although the P2E concept seems simple, developers have found different ways to implement it into their games. Two types of games have been successful in housing P2E mechanics during the burgeoning P2E gaming industry: games that focus on collection and games that focus on creation.
Gods Unchained
Specifications: GODS token costs $0.4246, has a 24-hour trading volume of $2.57 Million on Immutable X with more than 13 million NFTs and over 65,000 unique assets holders.
Overview: The tactical card game with PVP matches that was released in March 2021.
Similar games to Hearthstone and Slay the Spire
Pros: Play for free, supported by an Magic: The Gathering executive, and multiple ways to win
Cons: Gameplay may be repetitive and offer limited ranking opportunities
This tactical card game is reminiscent of Hearthstone and Slay The Spire. Players must strategize to outwit their opponents by creating decks that can overcome all opponent strategies. You also need decent cards, as any Yu -Gi-Oh or Gwent or Magic The Gathering player will gladly remind you.
How does NFT card implement P2E within its basic gameplay loop. Like IRL card-based games like IRL, some cards are extremely valuable and can be sold as NFTs. Players can combine non-NFT cards to create a Meteorite NFT card through an in-game "Forge". Neat.
Players can also choose to take part in ranked PVP matches that are held "on most weekends", according to the game's website. These ranked weekend events grant players expansion packs. They contain NFT cards with varying rarities that correspond to the player's performance during that period.
The game's deceptively deep gameplay mechanics, balanced game design, and the fact that it doesn't become a pay-to win mess have earned wide community support since its launch in February 2021. Gods unchained has traded more than $2.5million on its NFT marketplace immutable X since then. Players looking for an Hearthstone-like solution with P2E potential should look no further than the more than 13,000,000 NFTs that have been released.
Axie Infinity
Specifications: AXS token costs $18.97, and a 24-hour trading volume of $138.49 Million
Overview: Sky Mavis, a card-based RPG-style combat sport that was released in March 2018.
Similar games to Pokémon, Neopets
ProsWide community support will soon be made available for free.
Cons: Gameplay is repetitive and can lead to high starting costs.
Axie infinity allows users to create an army of Pokemon-inspired creatures called Axies. They can also battle other players using card-based RPG-style combat. You can also breed these Axies, which allows you to create more powerful teams and even sell them. Players can earn Smooth Love Potion, which doubles as a functional cryptocurrency, for every win in a game. Players can then convert their in-game winnings to fiat currency via a crypto exchange.
After a promising 2021 year, Axie Infinity suffered a series of setbacks. In April 2022, Axie Infinity witnessed A serious decline in its user base was caused by the Lazarus Hackers Group's breach of the Ronin sidechain (the Ethereum-linked sidechain that powers it) and the theft of $625 million in assets. The game's AXS token was down 30% by May 2022. In-game economics have been crashing in recent months. Scores of players who had invested substantial amounts of money in the game are now "despondent" and "in debt," TIME magazine stated in a tweet.
The game's player base dropped significantly and the tokens fell in value, making 2022 a difficult year for it. There is still hope that the game will rebound. Recently, the game has retrieved a substantial portion its stolen funds. It plans to move towards a more user-friendly model in Infinity: Origin.
Decentraland
Specifications: The LAND token is $1.06 and has a 24-hour trading volume of approximately $210.37 million
Overview Developed by Decentraland Foundation's Ari Meilich and Esteban Ordano. The 3D virtual world, which was released in February 2020, is an evolving blockchain gaming community.
Similar games to Minecraft and Roblox. Second Life
Pros - Multiple ways to make money, wide industry support
Cons: Still a bit bug-prone
Decentraland, as its name implies, is a completely decentralized virtual world that users create. The title is widely considered a showcase for the metaverse within the blockchain gaming community. Players can buy plots of land to transform them into almost anything, true to their reputation.
Players can do many things with their digital land. They can create a digital gallery in which they can display and sell NFTs from their own collections, or set up a medieval maze. Decentraland hosted a Metaverse Music Festival with big names like Paris Hilton, Deadmau5, 3LAU and Deadmau5.
Operation in Decentraland is controlled by two tokens: LAND NFTs which define ownership of digital real property, and MANA which can be used to purchase LAND and other virtual goods and services. 2.19 billion MANA tokens had been in circulation as of August 2022.
The Sandbox
Specifications The SAND token is $1.31 and has a 24-hour trading volume $269.5 Million.
Overview Animoca Games developed it. It's a voxel-based, Minecraft inspired game and was released in November 2021.
Similar games to Minecraft and Roblox. Second Life
The pros: It's Minecraft with NFTs! It also offers rental options for in-game land
Cons It's Minecraft but with NFTs and slightly higher transaction costs that Decentraland
The Sandbox is a voxel-based gaming platform that draws inspiration from Minecraft. Minecraft has decided to forgo NFTs and any other blockchain technology from being integrated into the game via mods. The Sandbox aims to fill that void in blockchain gaming.
If you want to make a profit from your voxel ASSETs, you can sell them for $SAND. This in-game currency doubles as cryptocurrency. The Sandbox allows players to create bespoke experiences and even full-fledged gaming games using its inhouse Game Maker software. These can be published to virtual land in-game, LANDs, or monetized.
The future of NFT-powered P2E gaming
Apart from the above names, Guild of Guardians and Pirate X Pirate are all highly regarded among crypto enthusiasts and gamers. These titles show that the NFT-driven P2E market is expanding at a rapid pace. NFT games accounted for $2.32 trillion in revenue during the third quarter 2021.
The transition from Facebook into Meta, Activision Blizzard 's recent acquisition by Microsoft and Ubisoft's launch of NFT marketplace quartz are all signs that the gaming industry is serious about incorporating blockchain innovations into mainstream gaming. To celebrate the 25th anniversary of Final Fantasy VII, a complimentary NFT project was launched.
The mainstream gaming community remains skeptical, if certainly hostile, about the possibility that NFTs could be implemented in their hobby. Core gaming fans have not changed their negative attitude towards NFTs despite the success of P2E Gaming.
Developers have expressed concerns about P2E games' popularity. This can be seen as an appeal for P2E game designers to concentrate on the "play" part to truly create value-adding experience for their intended audience. The blockchain gaming industry is expected to grow in the future, with new titles such as the BAYC's Othersside. However, it remains to be seen which aspect of P2E game development developers will choose to focus on going forward.
Is P2E going to completely replace the traditional gaming industry. We don't know. Epic Games' openness towards blockchain gaming suggests that the two sides of gaming may still co-exist. Gamers looking to make their hobby a side-business have plenty of options. It should be obvious that P2E games can make a lot more than becoming a pro streamer or a streamer.
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