Play-to-earn looks to be gaining attention in the crypto industry, becoming more well-known among cryptocurrency enthusiasts. The notion introduces a new era of innovation where individuals have new methods to earn coins to which the direct beneficiaries are the participants.
It is known that in the context of the Covid-19 pandemic, the gaming industry, the crypto field, and technology itself have expanded significantly, and this is the primary cause for the emergence of new phases in many domains.
Play-to-earn is one of them, being recognized as a viable business approach that reshapes the DeFi gaming sector, introducing greater innovation.
The Play-to-Earn concept explained
The play-to-earn notion refers to a gaming system in which a platform allows its users to acquire in-game assets that may be transferred to the real world as a valued resource. The concept, also known as GameFi, intends to convert average users into a governing force behind important gaming industry decisions.
The play-to-earn allows consumers to earn a consistent stream of cryptocurrency just by playing the game. Every gaming system is unique to each project. Unlike traditional video games, crypto games provide additional value to all stakeholders by allowing users to own their in-game assets and tokenize them as non-fungible tokens.
The most significant advantage is that this sort of system is transparent to all parties and assures fairness in item trade between players. As a result, cryptocurrency games attempt to create player-owned universes, giving users the ability to play-and-earn.
Games you should not miss
Play-to-earn is not a new concept, and several platforms are well-known and have a large user base. Here are some of them:
Doge Dash is a friendly initiative that provides players with pleasant memories. The game itself is a Mario Run-inspired game where anybody can earn coins via gameplay and contribute to the ecosystem.
The game has 10 fast-paced levels, with difficulty rising as the player continues. To enter, you need to connect your crypto wallet and use 100 Doge Dash tokens, which give you (3) lives. Each level has 1,000 tokens. If you reach the end of level 10, you keep all tokens you collect, and they’re deposited directly into your crypto wallet available to trade immediately. If you lose your lives, the 100 tokens are re-distributed into Game Rewards wallets to keep them refilled for future users.
Doge Dash also recently launched NFTs, which players will be allowed to use in game as skins, and some NFTs will hold in game benefits to make it easier to win. The game itself puts casual crypto gaming a step closer to reality. The Doge Dash play to earn crypto game launches Dec 15th on web, with a free to play version on iOS/Android. One last notable thing to mention is the founder of Doge Dash is Paul Caslin, a Grammy nominated creative director for MTV. It’s been hinted that he’ll use some of his Hollywood connections to help the game flourish.
This platform offers a gamified launchpad built on the Terra Ecosystem, including Play to Earn gamified NFTs and multi-asset staking. Users may use NFT tokens such as weapons, armors, animals, and relics to build a unique gaming avatar and improve it.
Users compete against one another as teams, sometimes known as factions, in the game. In StarTerra’s gamified environment, factions will compete for precious resources made up of various of the projects’ native tokens.
Mist is a blockchain-based action RPG game focusing on NFTs, Staking, and Farming. It was created in Unity utilizing the Mist NFT Game Framework. The project provides players with an immersive in-game experience that includes five playable character classes and a multitude of spells, powers, and environments.
NFTs may be obtained through rare monster drops and in-game events. They are not communal NFTs but helpful and functioning NFTs inserted into the Mist Game Framework, which become unique in-game goods. Players can cultivate and stake in-game money.
How much can a user earn?
Gaming is not often known for rewarding average users. It might sound hard to believe, but the usual participant may profit from a blockchain game. Many individuals earn a living through crypto gaming.
Each system has its own way of measuring passive revenue. It has the potential to give significant value to consumers while also paying them a fair income. The thing is that, after earning the cryptocurrency, Doge Dash, for example, may be immediately swapped and transferred.
The play-to-earn approach is ideal for folks who want to generate a passive income and live comfortably. It is available to everyone and is the simplest method to acquire crypto. It is also well-known for being user-friendly and simple to operate.
Play-to-earn games are a recent concept when it comes to earning cryptocurrency. Many people believe that blockchain gaming is the future of the e-game business, and there are many reasons behind that thought. Play to earn is becoming a viable business strategy, allowing both game creators and gamers to monetize their time doing something they like.