Play to earn games is a popular offering related to the blockchain gaming industry. It has reached the height of success in the current epidemic and state of unemployment and has proved its practical value. Play-to-earn games offer in-game assets to gamers which they purchase. These assets are called non-fungible tokens or NFTs. These can be traded outside the game too.
For casual gamers, it allows the player to take their money back when they stop playing. Serious gamers are provided with the opportunity of profit, and they can rely on sponsorships too.
Many new NFT based games have come up intending to explore the definition of play to earn. It is a combination of the Idle RPG game, and players of this game are connected to fight in PVE and PVP modes to receive cryptocurrency.
NFT blend is gaining popularity because of its excellent and unique features compared to the idle RPG game genre. RPG game genres including Lost Centuria, Adventure and Idle Heroes serve only the global gaming community. At the same time, the NFT blend opens up the capability of exchanging and trading in-game items.
The game’s development is done so that the player is engaged in the never-ending world of the game to obtain cryptocurrency. Any gamer who has access to a smartphone or digital device can benefit from such a gaming zone. NFT or non-fungible token is known as a missing piece in between blockchain and digital products. Pioneer projects of the NFT-game mix includes Axie-infinity and My Defi Pet.
These games lay particular emphasis on the essential character, which is combined with transparency in the blockchain. This thing creates a sort of ownership and competition with nature. The game developers explained that it took them about a year to deploy and conceptualize NFT and 3D graphics infrastructure. Character design in this game holds unique importance as it is created as an inspiration from the memes of the online community.
Example: In the Axie Infinity game, players earn Small Love Potions (SLP) token, which is the native token of the game. These tokens can be used to breed new Axies, which are charged by Axie. The platform also charges a 4.25% fee for every buy and sell transaction of the Axies. Players can also sell their SLP tokens in an open marketplace to cash out these tokens.
Project Example: GamyFi
It is an e-sports gaming platform blockchain. Crypto enthusiasts and gamers can use their skills and knowledge on this platform to get the rewards of exciting NFTs and in-game assets. This gaming platform also uses blockchain technology for being a fast and secure platform. It also has a GFX token which is an in-game currency. This currency is rewarded to the player in the form of transactions.
Gamers can generate revenues through GamyFi in the following ways:
- Gamers and professional players can sell in-game assets, including self-crafted weapons, healing portions and power-impulse portions for the sake of money. These things can be sold out on the marketplace quickly.
- In PVP battles which are called player vs player battles, a user can earn prizes.
- Characters are upgraded which a user can trade them later. There are more chances of profit and earning if the surface is unique and powerful.
Five applications of GamyFi
Gamini uses five sorts of applications, including:
- Fantasy sports
- NFT marketplace and games
- PVP multiplayer games
- Prediction market
Fantasy sports: It allows the user to have their fantasy sports team and players. Through this, they can earn points after performing well in real-time. Fantasy sports include football, baseball, cricket and soccer on GamyFi.
Lottery: GFX enables the user to buy lottery tickets. After this, a player can join the pool of other participants for winning a mega prize.
NFT marketplace and games: In this application, users or players collect, play, buy and sell NFTs and games on GamyFi.
PVP multiplayer games: This application helps create custom rooms and can help to synchronize with real-time multiplayer of GamyFi users. This feature also enables the player to enjoy the game with friends or other GamyFi users.
Prediction market: In this application, GamyFi helps the user predict the results of events, sports matches, and elections
Play-to-earn model by yield games
Play-to-earn is launched as a new business model in which a unique concept is given. It enables the users to earn money by playing games. Players earn in-game rewards, assets and tokens, which a player can choose to sold or trade. Through this mechanism, a player participates in virtual world economics.
Yield games support a play-to-earn game which is Axie infinity. In this, a player can earn SLP, which is Smooth Love Potion. SLP is essential to breed New Axis, which can be sold out in the marketplace and traded for other cryptocurrencies. Yield Guild Games helps a user to monetize their time spent in-game. It is done by operating, leasing and selling the in-game objects in cryptocurrency-based games.
Gamers can earn and invest in NFT assets and communities across the ecosystem. This NFT can be further used in different games. NFTs have also solved the cloning problem as they cannot be easily duplicated. It has traditionally reduced the value of in-game assets. It is used to deliver fundamental digital rights, enabling it to participate in blockchain games.
Players can become an owner of the in-game assets. Instead of wasting their time simply playing games without any specific outcome for their life, they can earn money through gaming. It will help secure the future in the best financial means, and players can become professional through long-term gameplay. There are more than 15000 members in the Yield Guild games community of discord, and the majority is from Philippines. It is expected that other communities from Indonesia and Brazil will also start becoming permanent members of this discord community soon.
These play-to-earn games are very easy to play and allow you to earn some money while having fun. It is great for new people who want to enter the crypto market. These games can help you start your investments in a playful manner which you can then grow by investing your winnings in other tokens and projects.