Speaking about Web3, you may think of Bitcoin, Ethereum, Solana, and other popular cryptocurrencies. Although crypto is the foundation of the modern web, the notion of Web3 involves many different conceptions. For example, P2E is a new gaming model which allows you to earn real-world rewards while enjoying the virtual competition. Learn how to earn by playing games!
How Does the Play to Earn Model Work?
A play to earn game allows you to collect in-game assets that have real value not only limited to a game’s environment. That’s the critical difference between P2E games and traditional video games.
For example, suppose you choose to play FIFA, Grand Theft Auto, Call of Duty, or one of the other popular titles. In that case, you may be tempted to purchase in-game items that would increase a team’s valuation or produce some extra strengths from which your character can benefit.
Unfortunately, while you may expect an extra boost in the game’s environment, the impact of your investment is limited to the virtual world only.
Play to earn games are much different in that particular aspect. While you can still enjoy in-game benefits and earn rewards in the virtual world, you will likely recoup your initial investment because digital assets available to P2E players also have value in the real world.
Play blockchain games, purchase an in-game token, and earn money. That’s how one can briefly summarize blockchain technology’s benefits to the gaming industry.
Examples of Play to Earn Games
Now that you know what Play to Earn games are, it’s time to introduce P2E games you can start playing immediately. Below you will find a list of three selected crypto games with a brief explanation of the in-game mechanism.
Nitro League – a community-driven virtual racing game
Nitro League combines GameFi, DeFi, and NFT. The game utilizes a native $NITRO token launched in December 2021 that you can purchase via Quickswap or Uniswap.
Racing is the core of a game. The algorithm calculates multiple factors that impact the outcome of the races. To successfully compete with each other and strengthen their performance, active players can purchase the following items:
- cars,
- energy units,
- car components (engines, tires, breaks, spoilers, and booster kits),
- special decorations (e.g., paint color, decal color),
- drivers who will ride the car,
- and unique driver components (helmet, jacket, gloves, boots).
Based on the performance, players receive Nitro Arcade Rewards. Those could be:
- In-game rewards (including credits, experience points, reputation points),
- Nitro Tokens.
How to start playing Nitro League?
First, download the game from Nitro’s official website and install it on your device. Then, connect the MetaMask wallet to manage motorsport NFT assets. Finally, claim a car and… start racing!
Kollect Cards
“World of Cards” is the proposition of Kollect – the metaverse playground for NFT collections. Use your NFT cards to participate in daily quests and missions, and track your progress by checking leaderboards. Kollect offers infinite paths to realize the true potential of your NFTs.
The game uses a $WOC token that grants access to various perks, including NFTs upgrades, equipment upgrades, and energy recharge.
How to start playing Kollect Cards?
The first step is to connect your crypto wallet. Enter Kollect’s official website: https://kollect.cards/, click ‘Connect Wallet’, and merge one of your crypto wallets (Metamask, WalletConnect, Phantom). Also, check this Kollect’s Testnet Guide, available at their official Medium profile.
Axie Infinity
Axie Infinity is one of the most popular crypto NFT games that use non/fungible tokens as its virtual world’s core. The game’s heroes are Axies – fierce pets that can be battled, collected, and used to earn cryptocurrencies. Axie NFT assets are used as tickets granting access to the NFT game’s various experiences. The game features the following mechanisms:
- Battling and Tournaments,
- Breeding,
- Sustainable Economy,
- Lands.
The creators of Axie Infinity can already boast about some meaningful achievements:
- 2,800,000 – daily active players.
- $820,000 – the value of the most expensive Axie ever sold.
- $3.6 Bn – the total value traded on their in-house marketplace.
How to start playing Axie Infinity?
The first step for Axie Infinity is creating a Ronin Wallet to store digital assets and send blockchain transactions. After that, you can use a desktop browser extension or download the mobile app. Then you’ll need to get three Axies to begin. Lastly, you should create your account to enter the game.
Can Playing Games be Profitable?
Blockchain technology and Web3 bring varied new opportunities. Unique P2E gaming is one of the uses of modern technologies.
A key differentiator is that play to earn games bring value back to players. While in traditional gaming, the benefits are beholden to the gaming companies, P2E allows participants to obtain rewards like crypto tokens, NFTs, or virtual lands that can be transferred within a game’s marketplace or redeemed for real money.
Like in the traditional gaming industry, some P2E games may be free to play, and others will require investment (e.g., to start playing Axies, you need to purchase in-game assets).
The critical difference is that once P2E players get involved in the game and engage in the in-game economy, they generate value for the entire ecosystem. If the game’s tokenomics is prosperous, each engaged player will benefit from the growing importance of digital assets and that value translates to the real world.
The Future of NFT Gaming
Although at the moment of publishing this article (Q4 2022), it appears highly unrealistic that P2E will overtake the traditional gaming industry shortly, Play to Earn is a growing trend you should pay attention to. Non-fungible tokens are variable and prone to market conditions, but they also have numerous utilities that could turn out to be game changers for their future application.
Therefore incorporating a non-fungible token in a game may be a breakthrough. Immersive gameplay with a strong economy and the likelihood of earning real-world rewards may lead to the enormous success of the gaming crypto projects. If traditional gaming companies seize the opportunity, P2E may become a top trend in the Web3 space.
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