Nowadays, with the huge boom in cryptocurrencies, games that run on the blockchain are becoming very popular. They are sometimes referred to as NFT Games, Play to Earn Games, or Blockchain games. But what are play to earn games anyway? Are they worth your attention? And can play to earn games make you millions?
One thing is clear, some see Blockchain games as a huge revolution in gaming, while others are more skeptical and associate them with scams and a non-existent digital currency.
The third group consists of people who don’t have a clear opinion and don’t know what earn games are. And for them is exactly this article. After reading everyone will be able to make their own opinion.
What are Play to Earn games?
Play2Earn (Play to earn) refers to a game concept where players are provided with a chance to earn money. Or, to put it the right way, they have the ability to win, craft, or anyhow get assets that can be converted into “real” money, have real-world value.
How do Play to Earn games work?
You play as you usually do, doing some in-game activities — looting, killing, crafting, etc… and some form of reward from the game is convertible into money. You earn money by playing.
Also, these games are usually, in most cases, tied to cryptocurrencies and blockchain technology. The rewards are usually in Cryptocurrencies or NFTs (Non-fungible tokens). For example, you can play a trading card game in which your cards are NFTs that you can freely sell.
The more you play, the more assets you are able to collect. But it usually takes a long playtime to get even your initial deposit back at all. But of course, it depends from game to game.
It is important to note, that in normal games all items in the game are controlled by the developer. This brings us to a simple comparison of play to earn NFTs with, for example, CS:GO skins. CS:GO skins can have real value, and have a real-life value. But the developer can regulate their number and everything around them. They are not original, one-of-a-kind items. And the main difference for us arises in a term of ownership. You indispensably do not own your skins. But with NFTs, you are the real owner, and no one can take that away from you. It’s written in the blockchain.
With Play to Earn games players generate value for other players as they participate in the in-game economy.
So how do Play to Earn games work? These games work mainly on the premise of earnings and entertainment. Which is not always the case and the fun is replaced by repetitive actions that are supposed to bring you some kind of earnings. And players mostly stay with the game just to make money, not because they enjoy it.
What are the benefits of Play to Earn games?
The main benefit is, of course, the earning potential itself. I don’t think these games would survive on the promise of entertainment alone.
Most of the Play to Earn games have their own cryptocurrency. Which you either get directly, or you get as I mentioned NFTs which you then sell for that cryptocurrency. In the eyes of blockchain games players, this cryptocurrency will skyrocket in price in the future and they see themselves as millionaires already. Will play to earn games make you millions? With most cryptocurrencies, that usually doesn’t happen. But every once in a while, there’s one that actually makes you a millionaire. That’s a great benefit — the fact, that if the game continues to develop and the number of players grows the cryptocurrency has a great future ahead of it.
Another benefit is certainly that by playing these games you participate in this new technology — Blockchain technology.
Are Play to Earn games worth playing?
This is a question that has probably crossed everyone’s mind. Are Play to Earn games worth it?
First of all, I would like to say that the vast majority of these games are not free to play. But do need some sort of initial investment — either in the form of buying NFT or depositing cryptocurrency.
That puts us in an awkward position. In order to make any money at all, we must first overcome this initial investment. In a game, we’ve never played before and don’t know if we’ll be good at it. The game difficulty is usually not such a problem, these games are simple, at least most of the time. A bigger problem is with competitive games. In competitive blockchain games, whoever puts more investment into the game wins more often because they have some form of advantage, which can be frustrating.
Overall you will always manage to get back at least your original deposit. Any further earnings are usually tied to a lot of time spent in the game.
Will this replace your traditional workday or part-time job? Absolutely not. But if you would otherwise be at home watching Netflix all day then it’s probably worth spending a few hours in a Play to Earn game. So yes, if you would otherwise be wasting your time completely unproductively.
Popular Examples of Blockchain Games
You all have the possibility to search and view the most popular projects in the world of Play to Earn games, through CoinMarketCap.
You will find that the choice is really wide. Of the biggest ones I would definitely highlight:
Axie Infinity
- In Axie Infinity you collect NFT pets, which you then fight against other players’ pets.
Decentraland
- Decentraland is a 3D virtual world, where users buy virtual plots of land as NFTs.
Gods Unchained
- Gods Unchained is an online trading card game similar to Hearthstone.
Splinterlands
- Splinterlands is also an online trading card game but with completely unique gameplay.
Mines of Dalarnia
- Mines of Dalarnie is a 2D action-adventure game.
Crypto Royale
- Browser-based Battle Royale with similarities to agar.io
Thetan Arena
- Free-to-play MOBA similar to Wild rift or Pokemon Unite.
Conclusion
This new addition to the gaming world is definitely worth checking out. Play-to-Earn games are still a hot new thing, so they will continue to develop and have something to surprise us. Perfect for lovers of new technology!
This article and many others can be found on www.helpwithpenny.com, Your blog guide to the world of finance.
