The crypto and non-fungible token (NFT) industry has taken the globe by storm, with Play-to-Earn (P2E) emerging as the next big concept.
Play to Earn video games are exactly what they sound like: video games in which players can earn money while playing. Unlike traditional console or PC games, P2E games allow players to make money just by playing a video game. P2E Game Development is in the trend now days and it helps you to save unnecessary time and cost on your game development.
P2E is catching the interest of gamers, with new titles and genres continually being developed in order to appeal to the diverse tastes of people.
Consider action dungeon crawlers such as Diablo, and Torchlight. Most people are acquainted with these titles, but are you making any money from them?
This is where play to earn is transforming our perception of games. Assume an independent studio created a P2E dungeon crawler with NFTs. Players can now make money while enjoying their favorite genre!
The mechanics of Play to Earn games
To gain a better understanding of P2E gaming, it is helpful to first grasp the fundamentals of these games. While they may appear to be entirely normal on the surface, there are specific mechanics in the back that distinguish them from other games and allow players to acquire benefit from playing more than just entertainment.
Earning money through these types of games is frequently linked to non-fungible tokens. An NFT is defined as a purchasable unit of data kept on a blockchain that is represented by digital art. These NFT artefacts are ideal for the digital world because they can represent characters, items, or even territory.
NFTs are one source of value in P2E. It is not necessarily required to own an NFT to earn in P2E games, but in most circumstances, this is the best method to optimise your earning potential. It is also possible to earn without actively purchasing NFTs for a game, although this will limit your earning potential.
A player who owns NFTs in a game has an actual stake in the virtual world. The NFT represents a piece of the game that you actually own. Because each NFT is unique, this digital item is yours until it is sold.
Players will be rewarded with the game’s native cryptocurrency as they grind away. These crypto tokens are incorporated into the game’s tokenomics and virtual economy, where they are automatically awarded via the game’s smart contracts.
Winning PVP battles, completing missions, solving puzzles, and selling goods are just a few of the ways players can earn money. Players in a P2E game will eventually want to cash out or reinvest their earnings.
Both ideas are viable; it is simply a matter of personal preference. Cashing out can be done through a cryptocurrency exchange, where the funds are converted to money or another cryptocurrency. Earnings could also be reinvested into the game by purchasing better characters, goods, and so on.
NFTs are pretty pricey, but you can still play.
The fact that NFT games can be pricey is often what prevents individuals from participating. While this is true in many circumstances, you do not have to be wealthy to participate in NFT games, and here’s why.
Scholarships can help persons who are unable to invest large sums of money. A scholarship is something that players can seek from gaming guilds that allow them to rent NFTs, allowing them to start playing and earning right away.
When a person joins a gaming guild as a “scholar,” they agree to pay a portion of their earned revenue from the game(s) they play to the guild. In this arrangement, the gaming guild helps new players by removing barriers such as expensive NFTs, and the player returns some of their earned cash to the guild.
Are NFT games a good investment?
Playing NFT games frequently requires more than simply time investment. Because many titles need players to pay NFTs before they can begin playing, these games have a higher stakes than typical. This begs the question, are they a good investment?
NFT games are an investment in certain ways because players can own pieces of the game through NFTs. The value of an NFT is determined by how well the title performs. If it proves to be a huge success with a large number of active participants, the NFT’s value should rise. If it fails, gamers may find themselves with an useless NFT or forced to resale at a lesser price than they paid.
Another way to invest in NFT games is through its native token. Axie Infinity is an excellent example of a game with a highly valued currency. In Axie Infinity, players will encounter a “governance token” ($AXS) and an in-game token ($SLP). With the AXS token, players can vote and influence the game’s direction, giving them a voice as an investor.
Popular NFT games on Polygon
So the actual question is, where is the ideal spot to begin your NFT gaming journey? The NFT gaming area can be a bit of a jungle at times, so take your time and always do your homework.
The Polygon ecosystem continues to see significant expansion in the NFT gaming business, with many new participants and initiatives based on our blockchain. Polygon has been a favourite blockchain among crypto gamers and game developers due to its scalable infrastructure, lower gas fees, and speedier transaction times.
While it’s crucial for new players to choose games they enjoy, here’s a quick overview of some popular Polygon games of interest:
- Zed Run
- The Sandbox
With this introduction to NFT gaming, we hope you’re ready to dive into the metaverse and start exploring. It’s a fresh world to discover and discover your own preferences. As the room expands, this is the ideal time.