What is P2E Blockchain Games?
P2E games have become a big part of both the gaming community and blockchain development. Through blockchain-based game platforms, devs have given dedicated players a chance to earn crypto rewards that can be converted into real-life money.
This is a very appealing concept that makes crypto mining a far more fun experience, but how does this model work? Keep reading to learn more about the play-to-earn gaming industry and how millions of players earn a crypto income.
What Is A P2E Blockchain Game?
P2E blockchain games, a.k.a. play-to-earn games, are online games where players can collect or farm game items. This is typically done through game tasks like quests or PvP game modes (player versus player), where players compete to win game rewards. These game assets can be sold or traded for cryptocurrency, which can then be converted into real-life money.
This game economy is possible through non-fungible tokens and blockchain protection, which allow for user-to-user interactions and true ownership of game resources. Examples of games with a play-to-earn business model include the popular Axie Infinity, Eternal Dragons, and The Lost Treasure.
How Do You Make Money From A Play-To-Earn Game?
There have been highly publicized stories of players who’ve been able to create a financial opportunity around P2E gaming. In some of these cases, players have been able to earn more from online gaming than working in a real-world job. While this may be harder in some countries than others, there are money-making opportunities in many blockchain games for most players.
There may be some free-to-play P2E games, but they’re very few and typically have lower rewards for daily gameplay. In most P2E games, players will need to spend on at least one NFT to play a blockchain game and earn enough money to recoup what they spent. The time to recoup on this initial investment may take hours and hours of gameplay, depending on the value of the game’s native token in the cryptocurrency exchange.
For example, players will need at least three in-game NFTs called Axies to form a team and play Axie Infinity. An Axie can cost hundreds of dollars, so it can take players quite some time to make their investment back.
This high cost is often the biggest barrier to entry for most potential players. To overcome this entry barrier, some people have “scholarships” where they rent out Axies in exchange for a cut of the daily Axie rewards players earn.
How To Get Started On Your P2E Gaming Experience
Thinking about earning in-game cryptocurrencies to turn into real-life income? Here are some tips for choosing a popular blockchain game that will reap cryptocurrency rewards!
Choose Your Preferred Game Type
Different types of games now have a play-to-earn business model. You can choose from racing games, fighting games, or MMORPGs to start collecting items that you can exchange for cryptocurrency and real-life money. By picking a type of game you enjoy playing, you won’t get bored and can consistently earn a crypto income.
Check The Game’s Development
The sustainability of a crypto game depends heavily on its game developers.
A good blockchain game should have a developed economic model, with simple but fun mechanics for earning, withdrawing, burning, and staking game tokens. The weakness of earlier P2E games is that they prioritized earning capacity over game mechanics. However, newer games now have seasonal events, new in-game items, and evolving modes that keep gameplay fresh.
See how they develop content for getting and retaining game users. Take note of what changes they’ve made over time and how they address user concerns for the platform. The more the devs care about making better content for the game, the better the chances of it having a large user base.
Look For Games With Exciting PvP And PvE Modes
Well-designed PvP (player versus player) and PvE (player versus environment) modes help maintain player interest in the game and promote healthy competition.
Game NFTs Should Have Solid Utility
A game’s NFTs should have high usability, keeping the game ecosystem sustainable for long-term monetizing. This will keep game activities entertaining and help players interact with each other.
For example, Axie Infinity’s Axies have different body parts that give them different skills in battle. This makes it interesting for players to develop special strategies, so they can beat their opponents and earn virtual items to exchange on the crypto market.
It’s possible to earn through P2E games by winning in-game currency and exchanging it for real-life money. However, you may need to spend on an NFT to play first, providing a cost barrier before you begin earning.
DYOR (do your own research) before buying an NFT for a play-to-earn game, and be careful not to spend money you can’t afford to lose. Happy gaming!
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