The relationship between gamers and developers has always been one-sided in computer games. Only the game owners benefited financially, while the players simply had fun and continued to spend their money. However, thanks to Internet access’s expansion, many revolutionary business models have appeared in the past few years. One of these is the Play-to-Earn (P2E) concept, which has changed the gaming paradigm and becomes even more universal thanks to blockchain and NFT.
What Is P2E and What Are Its Features?
P2E allows users to earn profit by playing games or providing other services in the gaming environment using BTC, ETH, DASH, DOGE, and LTC cryptocurrencies. However, those interested in cryptocurrency transactions often need to find a reliable crypto exchange. According to the feedback from crypto traders, letsexchange.io is the best such place today. There you can exchange DASH to LTC, BTC to ETH, DOGE to TETHER, etc., quickly and securely.
Play-to-Earn is a community-driven business model. It offers players a share as well as the opportunity to collaborate with developers and contribute to the game. Unlike traditional video games, crypto games offer a little more to all stakeholders by allowing users to own their in-game assets and tokenize them. Tokenization adds value to a game item by representing it with a cryptocurrency.
Examples of Successful P2E Projects
One of the popular crypto games with the P2E concept is Axie Infinity. This is an Ethereum-based game created by Vietnamese developer Sky Mavis. There are two in-game currencies in the Axie Infinity universe:
- The AXS managed token is used to regulate the ecosystem;
- SLP is used to reward winners.
To start the game, each player must purchase 3 Axies to form a team and fight against other players’ teams or a computer algorithm. Winners receive a reward in the form of SLP game currency. It is easy to withdraw from the game and exchange it for real money on one of the instant crypto exchanges. Top scoring players receive up to 1500 SLP per day.
In addition to Axie Infinity, there are many other crypto games and virtual environments where the Play-to-Earn concept generates significant revenue for users. For example, this concept is part of a rapidly expanding and complex virtual world called the Metaverse. This is a virtual reality community that mimics the physical world, where users share experiences, work, unique ideas, and trade NFTs.
The Metaverse is dynamic and offers a wide range of user experiences, including interoperable and decentralized economies. The player can move assets between different games, win tournaments, and exchange assets. There is also the opportunity to sell rare collectibles for large sums of money.
P2E Projects: What About Sustainability?
Examples of projects like Axie Infinity show that P2E allows you to earn big money. However, there is no sustainability. The amount of income varies greatly and directly depends on the tokenomics of a particular game, users’ efficiency and luck, and the market’s state. In addition, the income is affected by the amount of time that the user is willing to devote to the process, as well as the rewards and limits set by the developers. For example, in Axie Infinity, the player’s actions are limited by energy – a resource consumed for each Pvp or PvE battle and fully restored at the beginning of a new day.
So, modern P2E projects are really attractive, as they can bring a good income. However, do not forget about the risks. The lack of sustainability of P2E games forces users to think carefully about their every move and make only reasonable game decisions.