Everything you need to know about Play to Earn

These days there seems to be a great hype around these play-to-earn games. It might sound a bit complicated but it’s not and there’s a lot that these games can offer in the world of modern gaming. Let’s know more about these games and see what you are missing out on.

What exactly are play-to-earn games?

You may probably guess what these games are by looking at the phrase "play-to-earn games." A business strategy called "play-to-earn" harnesses blockchain technology. Simply put, users can participate in a game and possibly win cryptocurrency. Thus it provides a platform for users to play games and earn from them.

Players can obtain potentially valuable in-game assets in play-to-earn games. These resources can be anything from characters to lands to energies and the more players who participate, the more resources they can gather and the more valuable they become.

What makes Play-to-Earn Unique?

The most unique aspect of these games is that players can transfer their in-game objects or winnings into the real world and sell them to earn money or cryptocurrency according to their preferences. Previously gamers in any game wouldn’t even have thought about this even in their wildest dreams and playing games was mostly a hobby or form of relaxation and enjoyment.

Now players all over the globe get added incentives to play these play-to-earn games to earn real monetary rewards. Additionally, these games are decentralized in contrast to conventional games. This implies that not everything can be managed by the developer from its power center.

How to Play these Games – are Play-to-Earn Games Free?

These games are mostly called crypto games because the majority of players play this game to earn cryptocurrency and this motivates the players to invest time and energy more heavily in these games. In play-to-earn games, in-game assets are distributed among players. By participating in the in-game economy, players generate value for other players as well as the developer.

The gameplay of most of these games is like other games in the market ranging from RPG games to arcade games to battleground-based games. The catch is that in-game items have very high value in the real world and can be traded for assets from crypto to bitcoins to the widely popular NFT tokens. This makes playing these games more fun and profitable.

Moving on to our topic of discussion that whether these games are free or not then depends on the makers of the game. Some publishers offer free-to-play versions of their games. In certain games, players receive NFTs only for participating in the game. All that is required is some effort and time. Others might ask for initial investments for players to participate in their games.

Top play-to-earn games

A few of the best-known games are - Axie Infinity, Alien Worlds, Decentraland, and many more. Read about the most trending Play to Earn games in August 2022

Economics behind play-to-earn games

Creators of the game mostly think about their profits while creating them. In this scenario, players and developers have a give-and-take relationship. Let us take an example of an NFT-based game where holding valuable assets and distributing them via trading are the players' responsibilities in the partnership. More players are brought into the space and here lies the profit of the creators as they receive the transaction fees cuts every time any transaction is made. Hence, the programmers need to be cautious to determine a fair price. In addition, they ought to keep motivating gamers to transfer their assets. This is brought about by playing more and more of these games.