Play-to-earn games have been the hot potato in the gaming industry for quite some time now. Whether it's on mobile, web, or PC, play-to-earn gaming, play and earn, play and own, and other new gaming models are slowly but surely penetrating the market. There are a number of AAA games using Unreal Engine 5 that are in development and powered by blockchain technology. Moreover, indie games on mobile are also using blockchain technology to offer their players valuable rewards. But the question arises, what are play to earn games and why should you play-to-earn?
Play to earn games is the evolutionary result of games that has the potential to completely change the dynamics of gaming. Playing video games was and still is considered a passive activity with a sole focus on entertainment. Gamers would pay to play with no ownership rights when it comes to in-game items. Then came the free to play mobile games era where players would begin playing the game for free. However, free-to-play mobile games held back in-game items or stages to which players had to pay to get access.
Play-to-earn games definition
The idea behind play-to-earn games is very simple. The players collect cryptocurrencies, or NFTs, produced in the blockchain-based game. Next, players can make some nice money by selling in-game NFTs or start earning cryptocurrency via rewards, both of which can be exchanged for normal cash.
So, the in-game assets in play to earn games are valuable. These in-game assets may comprise skins, characters, weapons, cards, and other digital items. The more a player grinds, the more valuable rewards are on the table. So, play to earn games have valuable in-game assets in the shape of cryptocurrencies (existing or native), or NFTs. Players can convert these digital assets into real-world assets by selling them for real money in marketplaces.
Another important feature in play to earn games is decentralization. It means that the developers do not control everything from their power center. The gaming community also has a lot to say about how a game shapes up. Moreover, the in-game assets are distributed among players, and player participation in the in-game economy generates value for all.
Why You Should Play to Earn?
There are several reasons why a player should opt to play to earn games.
The first and foremost selling point of playing to earn games is simple: you can earn cryptocurrencies and NFTs by playing a game. This means that you will have the opportunity to earn real money, go for a side hustle, generate lunch money, or even carve out a career out of gaming. So, why not earn money while doing something you absolutely love? If you are skeptical about the quality of play-to-earn games, there are a lot of AAA play-to-earn games in every genre coming out next year. Check out our P2E games listing here and find a play-to-earn game that suits you.
The Gaming Community Expands and Develops
By playing "play to earn" games, you will take part in and even become a part of one of the most dynamic and robust gaming communities around. Games like Axie Infinity, Splinterlands, Gods Unchained, and many other upcoming titles have solid communities with a lot of active participation in decision-making as well as in-game challenges. This is because the common interest among the gamers is to make money, and players can join hands to overcome game challenges and may split the winning reward.
Web3 gaming is seeing an increase in the number of free-to-play games
One of the most difficult aspects of play-to-earn games is the substantial initial investment required to begin playing. The barrier to entry for gamers is quite high; however, the play-to-earn gaming domain is seeing an increase in free-to-play games. Players will just need to download or register to begin playing the game and earning rewards.
The "play to earn" gaming industry is in its early phases and will undergo tremendous improvement in the coming years.
Definitions of Crypto, NFT, Blockchain, and P2E
We have written some pages where you can read up on some of the definitions in this news article. We hope it helps and maybe makes you decide to try some of the video games in our P2E Games section.
- What are crypto games, our definition
- What are NFT games, our definition
- What exactly is "play to earn", our definition
- What are P2E games, our definition
PlayToEarnGames.com is a website where we keep an overview of all games in the genres of P2E, NFT, Crypto, Web3, and Blockchain games. Check out our games page or find a "play-to-earn" games list here. More information about W3 Play can be found on our about us page. Our news is daily updated on all video games and game developers. Stay tuned.