Before the concept of Play to Earn games came into being, all of us gamers were only used to pay-to-play games. Regardless of whether the monetization model was a paywall or a subscription, the only way to make any money by simply playing favorite games online was online casino gambling. Yes, there are many decent casinos out there, and one can win some impressive money on the best Trustly casino sites but let’s be honest that casino games might not be for everyone. While there are some legendary high-quality titles by famous studios, some people just want something else.
And something else has appeared. The play-to-earn NFT games are online video games playable on your PC, tablet, or mobile device. These software products offer you the opportunity to accumulate rewards as you play, and this is not gambling. Victories in battles, completed quests, and player-to-player trading brings rewards that can be either spent in the game for skins and items or even withdrawn as cash or cryptocurrency.
So the dream gaming reality is here now – one can play a high-quality game that is not a casino game and win real cash. Accumulating the tokes or directly accumulating digital currency within the game enables the players to get paid for playing. In this post, we will explain play-to-earn games 101.
What Do NFTs Have To Do With Play-To-Earn?
NFTs are currently the most mainstream method to make money playing videogames. No problem if you’re not familiar with NFTs. NFTs, short for non-fungible tokens, are like exclusive digital certificates. They’re unique digital assets that you can buy, sell, and exchange on the blockchain – an ultra-secure digital ledger. NFTs are one-of-a-kind, ensuring that the items you earn in a play-to-earn game belong solely to you. Feel free to sell them for real money or use them in trades with fellow players in the game.
While NFTs are in-game assets, they can be sold, traded, or turned into a money-making endeavor.
How Play-To-Earn Games Work
As it was mentioned above, traditional games operate on a pay-to-play model, with customers purchasing a physical or online game, or subscribing for a monthly fee, to play it. Some software products need in-game purchases or money to advance to higher levels or to be able to acquire unique items or skins that enhance the gaming experience.
But in play-to-earn games, players literally earn their in-game currency, and the most lucrative titles of this type enable the players to receive real-world or monetary rewards.
Here’s the breakdown of how it all works:
- Players engage in games, often using blockchain technology and cryptocurrency
- By completing in-game activities, tasks, or reaching specific milestones, players earn valuable in-game assets like NFTs or tokens
- In-game assets can be sold directly or traded for cryptocurrency. Players can trade on internal or even external marketplaces
- Earned crypto can be transferred to cryptocurrency exchanges, to convert it into fiat cash
- Some P2E titles enable players to stake their in-game assets or participate in decentralized finance (DeFi) systems for additional rewards.
While the nuances usually vary depending on the game, the underlying concept here is to receive real-world value through their in-game achievements.
How To Choose A Game For Play-To-Earn?
Recognizing the genres that resonate with you is key. It makes no sense to suffer through a game that doesn’t work for you, you find it hard to play or don’t like the community. Play-to-earn represents a progression in the gaming realm, and the fundamental premise is that you find pleasure in your activities to pursue them effectively enough for a long enough period of time. If you find yourself losing interest or sensing it’s becoming more of a task, chances are the game might not be the right fit for you and you won’t succeed.
Here are some questions to ask yourself when choosing your first play-to-earn game:
- Do you find this type of game truly interesting?
- Is there an initial deposit you have to pay to start playing?
- Can you afford the initial deposit if it is needed?
- Can you try the game completely for free to begin with?
- Do you understand the game mechanics?
- Do you understand how the developers make money?
- Do you understand the economics of the game tokens?
- Do you already have a plan on how to convert the game benefits into real-world value depending on the play-to-earn model of the game?
It’s okay to want to start playing for free to test the game out before you commit financially and invest even more of your time into the game. To make your journey easier, we have created a list of some popular play-to-earn software products that many players already enjoy:
- CoinFantasy
- Gods Unchained
- Splinterlands
- The Sandbox
- Crazy King
- Axie Infinity
- ChainMonsters
- CryptoKitties
- Upland
- Decentraland
- DeFi Kingdoms
- STEPN
Final Thoughts
Choosing a new game that unleashes this new monetization model might feel overwhelming for some players. However, if you’re after monetary gains but not into online casino gambling or lotteries, the play-to-earn category is your optimal choice. Just make sure you explore the niche and find the game you truly like and understand.
It also makes sense to do your research on the cryptocurrency trading platforms and find out beforehand how to use your winnings later.
