What Are Play-to-Earn Games? How Players Are Making A Living With NFTs
April 22 2022 - 5:46AM
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When anonymous developer Satoshi Nakamoto launched Bitcoin in
January of 2009, nobody knew how impactful cryptocurrency would
become. While rumors regarding its potential floated about,
cryptocurrency changing the world was just a far-off pipe dream.
Today, it’s all coming true, and what started as an experimental
payment system for the techiest of the techies is disrupting
industries worldwide; gaming included. In hindsight, it’s no
surprise that digital currency and digital worlds go together –
cryptocurrency fits gaming like a glove. With the help of related
blockchain technologies like NFTs, cryptocurrencies make
peer-to-peer virtual worlds possible, empowering gamers through
true ownership of the games that they play. How Players Are Making
A Living With NFTs NFTs, or Non-Fungible Tokens, are blockchain
records that prove ownership of unique digital items like pictures.
When applied to gaming, NFTs can represent in-game equipment,
characters, structures, and more. In games that incorporate
cryptocurrencies and NFTs, players can generate an income either by
earning cryptocurrency directly or by earning NFTs and trading them
for cryptocurrency. As such, these games are commonly referred to
as “Play-to-Earn”. Play-to-Earn games come in one of two forms.
Some, like the ever famous Axie Infinity, are stand-alone, meaning
that they are bound to their own self-contained game world. Others,
like the hotly anticipated Runiverse, span across several
wide-scale cryptocurrency gaming platforms called metaverses. The
word “metaverse” comes from “meta” for “beyond” and “verse” for
“universe”. Effectively, metaverses are interactive virtual worlds
where players can socially experience independently-created games
and events. Currently, the best-known metaverses are Decentraland
and The Sandbox, both of which are quickly being populated by major
companies like Atari and Adidas. Soon to be present in both The
Sandbox and Decentraland, along with their own metaverse, Runiverse
is set to be the first cross-metaverse play-to-earn game where
players can challenge others based on the performance of the crypto
market. In Runiverse, players pick a token from their
cryptocurrency wallet and place a wager before facing off in
thirty-second one-vs-one races where the speed of their runner
depends on the live price action of their chosen token. Players
whose token rises by the highest percentage during that time frame
will see their runner sprint ahead of the competition to win them
the race and their opponent’s wagered crypto. Runiverse is part of
Elite Mobile ($ELITE), a cryptocurrency system created for the
world of mobile industry, designed to support influencers, NFTs,
metaverses, and play-to-earn gaming in one place. Runiverse is
Elite Mobile’s first foray into cryptocurrency gaming, and aims to
create a gamified ecosystem that will benefit gamers both within
the Elite Mobile community and the countless metaverses abroad. The
benefits that Runiverse delivers players goes even beyond earning
cryptocurrency through races. Players can also buy and sell NFT
tracks that automatically host competitions and send a 6% share of
all winnings directly to their owners, earning them real passive
income. For gamers looking to get started, the Runiverse Demo can
be played directly from Runiverse’s official website. All players
need to do to get started is connect their Metamask wallet and
either invite a friend or challenge a random player.
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