Throughout the 50-year history of video games, they have acted as a source of enjoyment, something to take your mind off a hard day’s work. A new wave of digital games, however, is using blockchain technologies like NFTs to reward players with bitcoin.
In certain countries, these “play-to-earn” best nft games have already allowed gamers to work while playing video best nft games, with scholarship programs and academies springing up to help players navigate this strange new world.
Though others have welcomed the emergence of play-to-earn nft games, claiming that they enable players to earn rewards for doing something they would otherwise do for free. Many gamers have expressed their displeasure at the unwanted intrusion of business into the fun world of gaming.
What Are Play-to-Earn Games, Exactly?
Let’s put it this way:
NFT video games that enable players to earn money as they play are known as “play-to-earn” best nft games. A player is often awarded with tokens and, on rare occasions, NFTs, and the longer they play, the more they earn. Crafting in the game usually necessitates the use of tokens.
While people have been making money from NFT games for years by doing things like “gold farming” and illicit in-game item trades, the industry is poised to experience a transformation with the introduction of blockchain technology and NFTs.
Non-fungible tokens, often known as NFTs, are cryptographically different tokens that may be used to prove ownership of items like images or music. In blockchain NFT games, they allow players to take ownership of in-game assets such as virtual clothing or land regions.
Objects are kept on tiny data networks in-game, unlike conventional games. And which is under the power of corporations? NFTs provide users ownership over the one-of-a-kind assets they acquire.
What’s More Exciting Than That?
You may publicly sell the NFT regardless of the platform if you own it. Traditional games do not allow for this.
That is, you may buy and sell NFTs indicating things for fiat money on any NFT platform. Because such NFTs are in scarce supply, they are valuable in the actual world.
Other than sheer enjoyment, there is no purpose to play ordinary games. The link is just one-way. You put money into the game. And you’ll never be able to make money from your free time unless you’re a famous athlete or a well-known broadcaster. Blockchain gaming, on the other hand, enables players to make real money.
Users may earn to play by transmitting value regardless of who they are or where they are on the planet. Because blockchain technology enables players to transact from anywhere in the world.
Axie Infinity requires a three-axie one-time investment. Otherwise, another player may offer you a free Scholarship. Smooth Love Potion may be earned (SLP). Plus, once you have a Starter Team, you may trade this ERC-20 token on exchanges. And then there’s when you start completing tasks and difficulties.
Breeders use SLP to boost the item’s economy by breeding new Axies. Axie Infinity became particularly well-known in the Philippines, where many players grew to depend on the game’s play-to-earn model to support themselves.
Many participants make between $200 and $1000 (USD) every month, with others earning much more based on market price and effort. What a movement, to say the least!
The Birth of the Play-to-Earn Model
By far the most popular play-to-earn videogame is Axie Infinity, a Pokémon-style monster-battling game developed in 2018 by indie company Sky Mavis.
NFTs are used by gamers to collect cartoon animals known as Axies. Each Axie has its own set of advantages and disadvantages. Gamers may also explore, fight, and breed their Axies while playing. Smooth Love Potion (SLP) crypto tokens are awarded to combatants as a reward. Axie Infinity Shard (AXS) tokens, on the other hand, may be used to choose a game and future enhancements.
With 2.8 million daily active players and a total transaction volume of $3.8 billion in several countries, Axie Infinity has become one of the most popular play-to-earn best nft games. Gamers in the Philippines and Indonesia are even using Axie to support their families. “Axie scholarship” programs, such as those offered by Yield Guild Games, have also emerged, enabling Axie holders to lend their NFTs to other players.
That is something that ought to be recognized more (for good reasons). It’s not only about having a good time; it’s also about making money!
According to Axie Infinity co-founder Aleksander Leonard Larsen, 50 percent of the game’s participants had never utilized a cryptocurrency before.
However, there are costs connected with playing the game, and you must first get three Axie NFTs, each of which costs several hundred dollars. “It’s really hard to start playing Axie right now,” Larsen acknowledged the difficulty in attracting new players to the game.
To address this problem, Axie plans to give out free starter Axies with minimal earning potential in order to attract new players to the game.
Other play-to-earn systems mix non-centralized NFT games with decentralized money components (DeFi). Aavegotchi is a DeFi money market experiment that enables users to place Aave tokens inside cartoon creatures represented by NFTs, meaning that each Aavegotchi generates Aave yield.
The primary gaming industry has taken notice of the possibilities of NFTs and play-to-earn!
Ubisoft Quartz, a platform that enables players to acquire NFTs based on the Tezos blockchain, has previously been announced by the French video game developer. Other firms that have experimented with NFTs, such as S.T.A.L.K.E.R., have received harsh criticism from players. Following a player-led Twitter campaign, two creators, GSC Game World, have decided to abandon plans to include NFTs in the game.
Some video game players, already irritated by publishers’ revenue models such as “pay-to-win” and “loot boxes,” see play-to-earn as a step too far, claiming that introducing actual financial models and incentives will turn gaming from escapism to a blatantly capitalist “investotainment” industry.
With FTX and Andreesen Horowitz pouring money into the play-to-earn market, it shows no signs of slowing down anytime soon.
Getting into the Metaverse
The metaverse, a collaborative virtual world in which players interact as characters, meet up, collaborate, and, of course, play nft games, is gaining popularity at the same time as play-to-earn gaming.
Non-fungible tokens represent virtual objects and land parcels, and blockchain, bitcoin, and NFTs all play a part in metaverse concepts.
Metaverse Metaverse platforms like as The Sandbox, Decentraland, and CryptoVoxels, for example, have already begun to integrate NFTs into the public virtual environment. At the same time, prominent companies such as Facebook (which was recently rebranded Meta to reflect its aims), Adidas, and Samsung have staked out places in the metaverse.
Even though we are still in the early stages of conceptualizing the metaverse, real performances and meet-ups are already taking place. Gaming will likely follow, and the possibility of a linked world with NFTs enabling in-game items to move across metaverse platforms might serve as a powerful incentive for play-to-earn gaming.
Finally, there’s no doubting the power of play to earn, which enables anybody, anywhere, to build a profession just by playing NFT games they like.