Play-to-Earn games have grown in popularity in recent years. The gaming community got hooked on it mainly because of the thrill associated with the games and the lucrative rewards. If you look at recent numbers, some of the popular titles have over a million active users. Every game, genre, niche, and the entire Play-to-Earn gaming space is surrounded by a community, with members actively interacting and, in some cases, promoting the game on various media platforms social. Word of mouth promotion seems to have worked well for them.
What are Play-to-Earn games literally?
As the name suggests, any game that rewards users for their participation will fall into this category. But, there is a critical aspect here, the rewards offered should have real value. So, if a game only provides coins that are redeemable within the ecosystem and with no apparent value outside of it, these would not fall under Play-to-Earn.
The rewards offered can be anything ranging from in-game tokens, native token on the platform, NFTs, skins, and weapons, among others. Each game can reward users with one or more of them. It all depends on how the game is developed and what elements are integrated into it.
How are Play-to-Earn games different from regular games?
It’s quite simple! For regular games, you have to pay a certain amount either to buy it or to unlock the full version. In Play-to-Earn games you are rewarded for your active participation without having to pay a dime, however, for some of the titles here you have the option to progress quickly through the initial stages by acquiring certain items from the market. .
Additionally, as stated earlier, the rewards available in Play-to-Earn games also have value outside of it. To better understand, let’s take an example. Suppose you are playing a game from the GTA series. Any points or rewards earned for completing a mission help you progress through the game, but cannot be sold or exchanged for fiat currency.
When we talk about Play-to-Earn games, consider ADA Demon, a popular title with an entire ecosystem revolving around it. Here, when you collect items or receive rewards, usually NFTs or the native token of the platform, these can be traded on the in-app market or on exchanges. Additionally, there is the option of staking the tokens, where you lock them on the blockchain for a certain period to verify transactions and receive a steady stream of funds as a reward.
Can I earn rewards without actually playing the game?
Yes, we now have titles that reward users simply for watching the game’s live stream, and these have become extremely popular among the gaming community. Methods like these are a great way to familiarize users with the gameplay and understand the intricacies involved.
Also, there are a bunch of other reward protocols used, for example, placing bets. Here, instead of playing the game directly, users have a chance to win if the player of their choice wins the round or the game, as the case may be.
What is the future of Play-to-Earn games?
Play-to-Earn games are developed on the blockchain, and with the industry constantly evolving with each passing day, the future looks bright. And the best part, a lot of the industry is still unexplored, giving developers the opportunity to come up with great ideas and fill those voids.
If you find a Play-to-Earn game with an interwoven ecosystem and a native token with market-driven tokenomics, investing in it might not be a bad idea after all. Moreover, with options like staking and cash pooling, investors are bound to make decent returns with Play-to-Earn games. But it all depends on your current situation and market dynamics.
Even if you don’t want to, the concept of Play-to-Earn games in itself is impressive and still has a long way to go. The funds poured into the development are a testament to the excitement around these and how the developers are sparing no effort to make the best of the situation.
When it comes to Play-to-Earn games, there’s no shortage of innovation and creativity. We have a plethora of new titles released every day, using the latest protocols and offering advanced features. If you haven’t tried them yet, we recommend starting with ADA Demon, Axie Infinity, or De-Fi Kingdom for the best experience.