Competitive gaming, also known as eSports, is most commonly associated with the ability to play and earn, also known as Play-to-Earn (P2E). This is currently the most important part of the paradigm, with revenues from this platform expected to exceed $1 billion this year.
However, with the convergence of gaming, cryptocurrency, and NFT, we are witnessing a new variation in which every player earns by participating in this emerging blockchain-based version of P2E. (some call it P2E 2.0). This enables the incorporation of NFT into core game dynamics, allowing P2E to reach a mass audience that does not even play games.
This is accomplished by integrating the game economy with real-world finance and allowing players to own and trade in-game assets through the use of blockchain technology.
The COVID-19 pandemic, which impacted people's incomes and forced them to stay at home, accelerated the P2E movement significantly. The ability to generate money is the main draw of P2E games, as players can earn cryptocurrencies while playing thanks to decentralized finance (DeFi) and non-fungible tokens (NFT). Since the release of Axie Infinity in the second half of 2021, these games have grown in popularity. This has ushered in a new era of blockchain gaming like no other. People in the Philippines make more money playing Axie Infinity than they do working in an office!
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Gaming is now one of the most important industries in our country. Because of the rapid advancements in game development, millions of people enter this market each year. However, a new type of gaming has emerged that has the potential to attract millions more. Consider a world in which you can play your favorite games while earning real-world assets. This world exists, and it is known as play-to-earn gaming.
P2E stands for play-to-earn, and it's quickly becoming one of the most popular trends in NFTs and crypto. It means that gamers/players can earn real-world assets by playing a game. This has been a long time coming, as traditional gaming earnings were previously limited to competitive leagues and other more serious events, such as winning the Call of Duty World Championships.
Play-To-Earn games are exactly what their name suggests: games in which players can earn goods such as cryptocurrencies, NFTs, and money based on their performance in these games. The adoption of blockchain technology in gaming enabled the creation of P2E games. This explains the existence of distinct blockchain games that differ greatly from traditional games.
P2E games are everything that avid gamers have long desired: a real-money opportunity. These games return value to the players by allowing them to earn valuable in-game assets such as virtual land, non-fungible tokens (NFTs), virtual coins, and avatars by fighting other players, completing missions, and progressing through various game levels. Unlike traditional games, which require individuals to pay to participate.
The facts stated above demonstrate that anything blockchain touches causes change, opens up financial opportunities, and allows for autonomous governance. With blockchain and NFTs already transforming industries such as music and art, there is no doubt that gaming will follow suit.
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Gaming developers are quickly embracing the P2E trend, finally allowing real money to be used in games. And you'll see a lot of titles like Gods Unchained, Axie Infinity, and Splinterlands pop up and take off. Play-to-earn games rely on blockchain technology to support their ecosystem and, more importantly, to allow users to access in-game tokens with real-world value outside of the game.
This is made possible by digital currencies (also known as cryptocurrencies), decentralized marketplaces, and non-financial tokens (NFTs). In P2E, every action you take within the game can be rewarded, such as participating in quests or battles, breeding new creatures, or assisting in the resolution of a community problem.
These elements are represented in the game as non-fungible tokens (NFTs). If you want to create a new avatar or breed a new creature, for example, you can mint a new token and then sell or exchange it in an open marketplace. These NFTs have the advantage of being able to be exchanged for cryptocurrencies, which can then be traded for hard cash via exchanges.
Although all transactions are recorded on the blockchain, the ownership and authenticity of in-game digital assets can always be confirmed. Furthermore, using the blockchain makes it easier to transfer in-game assets between different games and platforms, which means the player has an infinite number of ways to monetize their collection. And there are several ways for this to happen.
Also Read: Effects and Risks of Cryptocurrency in Business
There are numerous P2E games available, but finding promising P2E game projects is difficult. However, we discovered a few games that you should be aware of if you are interested in Play-to-earn games.
Top P2P Gaming Platform
Playing play-to-earn games on the gaming platform Metamoji can help you earn a lot of money. Metaple has provided you with this platform. This platform currently offers excellent P2E games such as American roulette, blackjack, head or tail, and horse racing.
Meanwhile, Metaple is a trustworthy crypto project that provides a variety of DeFi applications. Its native token is MLX, and if you hold it for a while, you will gain more benefits on Metaple and Metamojo. It is the only live project on this list that provides multiple P2E games.
Star Atlas is a galactic MMORPG set in the year 2.620 in which players can embark on numerous adventures, explore the metaverse, trade, and quest with one another, and build their own space empires.
They can also participate in collaborative storytelling with other galaxies or compete against them in various competitions. Players who select Star Atlas will be able to play it in virtual reality, making it one of the most anticipated games. Even before the game's October 2021 release, the marketplace and two supported cryptocurrencies, ATLAS and POLIS, saw a frenzy of activity.
Alien Worlds is a blockchain-based video game with an Earth simulation based on the Trillium (TLM) cryptocurrency. Users can also complete missions for which they will be rewarded with TLM tokens.
The creators of the game are constructing an NFT-centric social metaverse in which people can collaborate on various tasks. In this game, you play as someone from the year 2055 and work to increase the value of your virtual assets by purchasing tools that give you a competitive advantage.
KUKU Play is a popular play-to-earn game platform that makes headlines on a regular basis. The platform is now operational, but the majority of the games will not be available until next year. The platform will be divided into two sections: a play-to-earn game and a pay-to-play winning game.
There are a few exciting games in the works that will soon revolutionize the gaming industry. This platform will provide numerous opportunities for the gaming community while also making earning money through gaming easier. So, keep visiting this platform to stay up to date on all of its progress.
Monsters Clan is another highly anticipated game with a gameplay mechanic similar to Axie Infinity. Players can compete in monster battles, create monsters in a lab, upgrade their stats with potions, or invest time in combat training.
The game will allow players to participate in these various struggles at their own pace. With the rentable option, the game allows you to earn passive income. Players can loan out in-game items such as monsters, caves, and lands to others.
The game is a first-person shooter (FPS) NFT project that focuses on Hyenas and Coyotes, two factions of outlaw bikers fighting for supremacy. It will be similar to Counter-Strike or Battlefield 2, but with a larger map, deeper experiences, and up to 60 people per map. Scalability will be increased to 10,000 concurrent players at a later stage of development.
Hell' Hyenas Motorcycle Club (HHMC) and Brawl Game comprise this gaming project. It will have a dedicated marketplace and the HHMC token ($HYN) for governance.
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According to industry experts, the crypto gaming industry is poised for a big bang explosion, with a market value of approximately $256 billion. The free-to-play and play-to-earn phenomena have spread like wildfire, and more and more tech companies are looking to capitalize on this raging trend. Companies are now combining various advanced technologies such as virtual reality, augmented reality, and others with blockchain and NFT technologies and bringing them together on a single platform known as Metaverse to meet rising demand and improve gamers' experiences.
Gamers are increasingly turning to metaverse gaming platforms for an authenticated experience in which they can play games using their digital avatar. They can also create their own games, invite other players, create NFTs, and sell them on the house marketplaces, all from within a single personalized space. The majority of the developers - both established and emerging names in the gaming industry - are creating games for Metaverse. Many crypto-based projects are in the works, with more on the way.
Crypto Gaming guilds, also known as clans, communities, or factions, are groups of collectors or professional gamers who come together to play games on a specific gaming platform. They form teams and alliances and hold competitions on a regular basis to keep the baton lit and the levels rising. Any winnings are distributed among the players.
The guild also offers financial assistance to players who cannot afford the high entry fees but have expertise. Yield Guild Games, for example, is a well-known guild founded by Gabby Dixon. He formed a guild and leased out Axis, also known as scholarships, to game players as a veteran Axie player. The payer, community managers, and guild received a portion of the rewards earned by the layers.
Metaverse and gaming guilds are concrete steps toward advancing the crypto-gaming industry. With the development of numerous games, blockchain technology gains a stronger foothold in the gaming industry. Play to earn, and the GameFi ecosystem will only grow stronger as supporting technologies become more widely adopted. However, we are just getting started, and it remains to be seen how it will affect the gaming industry.
These are some of the Play-to-Earn game projects worth knowing about, and if you have the opportunity to invest in one or more of them, take advantage of it by purchasing as much of their native token as possible. It will soon grow at breakneck speed.
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