Play-to-Earn Gaming Sweeps the Crypto Space
August 02 2022 - 6:23AM
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Play-to-Earn games have gained tremendous popularity in recent
years. The gaming community got hooked to it primarily due to the
thrill associated with the games and the lucrative awards. If you
look at the recent figures, some of the popular titles have more
than 1 million active users. Every game, genre, niche, and the
whole Play-to-Earn gaming space has a community around it, with
members actively interacting and, in some cases, promoting the game
on various social media platforms. Word-of-mouth promotion seemed
to have worked well for these. What are Play-to-Earn games in the
true sense? As the name suggests, any game that rewards users for
participation will fall under this category. But, there’s a
critical aspect here, the rewards offered should have some
real-world value. So, if a game only provides coins that are
redeemable within the ecosystem and of no apparent value outside of
it, these wouldn’t come under the Play-to-Earn domain. The rewards
offered could be anything, ranging from the in-game tokens, the
native token on the platform, NFTs, skins, and weapons, amongst
others. Every game may reward users with one or more of these. It
all depends on how the game is developed and the items integrated
into it. How do Play-to-Earn games differ from regular games? It’s
quite simple! For regular games, you have to shell out a certain
amount, either for purchasing it or unlocking the full version.
While in Play-to-Earn games, you get rewarded for active
participation without having to shell a penny, though, for some of
the titles here, you have the option to progress quickly through
the initial stages by acquiring certain items from the marketplace.
Also, as discussed earlier, the rewards available in Play-to-Earn
games hold value outside of it as well. To understand it better,
let’s take an example. Say you are playing a game from the GTA
series. Any points or rewards won for completing a mission help you
progress in-game but cannot be sold or redeemed for fiat currency.
When talking about Play-to-Earn games, let’s consider ADA Demon, a
popular title with a whole ecosystem revolving around it. Here,
when you collect items or receive rewards, generally NFTs or the
platform’s native token, these can be traded in the built-in
marketplace or on exchanges. Also, there’s the option to stake the
tokens, where you lock them on the blockchain for a certain period
to verify transactions and receive a regular stream of funds as
rewards. Can I earn rewards without actually playing the game? Yes,
we now have titles that reward users simply for watching the live
stream of the game, and these have become extremely popular amongst
the gaming community. Methods like these are a great way to get
users acquainted with the gameplay and understand the intricacies
involved. Besides, there are a bunch of other rewarding protocols
employed, for instance, placing bets. Here, instead of directly
playing the game, users stand a chance to earn if the player of
their choosing wins the round or game, as the case may be. What’s
the future of Play-to-Earn games? Play-to-Earn games are developed
on the blockchain, and with the industry still evolving with each
passing day, the future looks bright. And the best part, a large
part of the industry is still unexplored, offering developers the
option to come up with great ideas and fill these voids. If you
find a Play-to-Earn game with an intertwined ecosystem and a native
token with market-oriented tokenomics, investing in it might not be
a bad idea after all. Also, with options like staking and liquidity
pooling, investors are bound to make decent returns with
Play-to-Earn games. But it all depends on your current situation
and the market dynamics. Even if you don’t want to, the concept of
Play-to-Earn games in itself is impressive and has a long way to
go. The funds being pumped into the development are a testament to
the craze building around these and how developers are leaving no
stone unturned to make the most out of the situation. When it’s
come to Play-to-Earn games, there’s no dearth of innovation and
creativity. We have a plethora of new titles released each day,
employing the latest protocols and offering advanced features. If
you haven’t tried these yet, we recommend starting with ADA Demon,
Axie Infinity, or the De-Fi Kingdom for the best experience.
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