Consider all the hours you spent as a child playing Super Mario Bros. – collecting money, defeating Bowser, and repeatedly rescuing Princess Peach. If you’re anything like me, such recollections constitute a significant part of your childhood or teenage years. However, have you heard of play-to-earn games?
What if you could have been compensated for that time?
That is the basis of the latest and greatest thing in gaming. It’s called play-to-earn games, and it’s rapidly transitioning from a future concept to reality. Players earn prizes on platforms all around the globe that can be purchased and exchanged on real-world marketplaces for real money. The opportunity to earn cash assets is turning heads and converting both newcomers and seasoned players to this game-changing paradigm of play. However, the repercussions extend well beyond more pocket money. Click here to read more about play to earn games.
These virtual economies are a precursor to a more fundamental transition — toward a decentralized web in which users retain ownership over their data and participate in the benefits of their digital work. As discussions over privacy and the internet’s future heat, play-to-earn games serve as a shining example of a more egalitarian road ahead.
Getting started with play to earn games
Axie Infinity is one of the most prominent personalities in the play-to-earn games industry right now. It’s a Pokemon-style game in which players gather, fight, and trade bizarre tiny critters called Axies. The game, which has over a million members, just surpassed $1 billion in transaction value. The Philippines has developed into a hotbed of popularity, with residents trading and selling Axies to supplement their income after job losses due to the COVID-19 outbreak.
How does it all work then? The game exemplifies a number of the principles that contribute to the strength of play to earn games forte. To begin, it is based on scarcity. Just like Bitcoin’s value structure is based on the reality that there will only ever be a finite number of bitcoins, the same concept applies to the characters and resources players are attempting to acquire in Axie Infinity. Second, as the term “play to earn games” implies, participants are compensated for their engagement. You gain tokens by fighting your characters, and the tokens are used to “breed” Axies – the more battles and breedings you do, the more value you produce. And, unlike popular play to earn games like as Fortnite or World of Warcraft, in-game characters and materials are tradable on sanctioned markets.
Finally, and perhaps most crucially, the whole game is based on blockchain technology. This creates an immutable digital ledger in which all transactions are recorded, so protecting value and preventing external tampering. Additionally, the currency being exchanged is a borderless cryptocurrency, which significantly levels the playing field. Consider this – one Philippine peso is roughly equivalent to two cents in US dollars, but in these virtual economies, each ether or bitcoin represents a single person. When they are sold and turned into local money, the developing world’s poorest people benefit the most. Visit http://eyeofindia.com/the-business-aspect-of-play-to-earn-games/ to read about The business aspect of play to earn games.
A Sign of Things to Come
This is just the beginning for futurists. While the premise of play to earn games may seem uncomplicated, these platforms foreshadow a fundamental reimagining of the Internet, the economy, and even our shared reality.
Consider the origins of the Internet. What we now refer to as Web 1.0 was a simple interface via which anybody could access content on simple websites. This developed into Web 2.0, where we were able to contribute to the creation and exchange of information. Monolithic platforms such as Facebook swiftly figured out how to collect and commercialize our data, thereby transforming consumers into commodities. Within these walled gardens, platforms established the rules and collected the rewards, climbing to trillion-dollar values while providing little value to consumers.
What we are seeing today is a significant movement toward Web 3.0, where ideas such as play to earn games purposefully flip traditional principles. Users retain ownership of the product of their digital work and may sell it for real money. How they do this varies every game – some, such as Sandbox and Decentraland, show people transacting in virtual real estate. They make money in the same manner that you do in real life – by selling or leasing their equipment to other gamers.
In other words, what seems to be a game is really a more egalitarian way to participate in our common digital reality. The ground rules are clear. Decentralized authority exists. Commodities are ephemeral and limited. In contrast to the hours spent reading around Facebook, participation in these games helps not just the platform, but also the users.
NFT Games are classified into the following categories:
NFT Play to earn games
The best NFT games elevate video gaming to new heights. Play-to-earn is a form of NFT game in which participants prioritize income. Players gain various things with demonstrated scarcity that are all theirs. The notion introduces the concept of the multiverse, which enables players to utilize their stuff in numerous games.
The play to earn games paradigm seen in the finest NFT games has already taken center stage. What distinguishes it from other conventional games is the built-in rewards. These incentives wrest control away from game publishers and place it in the hands of talented players.
Players’ Games (Reward: Coins & Transactions in-game)
The second sort of NFT game is one in which players progress through the game by accumulating in-game assets. Specifically, those in-game assets that have a monetary worth in and of themselves. The finest NFT games belong under this category since they include tokenized in-game assets, which players may accumulate as NFTs (non-fungible tokens).
Players gather and trade weapons, people, vehicles, and other in-game items that may be used in a variety of ways. Trading is conducted only via NFTs. Each such game has its own set of rules, and participants have two options based on the set of regulations. They may either accumulate their NFTs until they have repaid all of their crypto rewards, or they can sell their NFTs for profit.
•Games That Are Free To Play (User Experience & Players-Teenagers-Coders)
Gamified learning is nothing new in the realm of the top NFT play to earn games. It is true that there is an abundance of educational material that enhances information acquisition via the use of a game-like user interface. Free-to-play is a form of no-cost NFT game.
Gods Unchained is the finest example of a free-to-play game since it enables players to generate money without making an investment, while Splinterlands is another example. A critical factor to remember is that many free top NFT games largely rely on RNG mechanisms. Others may use pay-to-win techniques, with the greatest in-game items being concealed behind paywalls.