Play-To-Earn NFT Games: Can You actually make money?
It’s incredible how popular NFT games are all across the world. In 2022, revenue from console gaming alone reached more over $50 billion. Smartphone games are also very popular. A Statista analysis estimates that in 2021. Revenue from mobile games will reach $91 billion. Naturally, the blockchain business has to enter this market.
Due to the growing popularity of gaming, a format like P2E is now highly sought after because it provides both a way to have fun and a way to make money. Play-to-earn games are popular because of this.
An explanation of play-to-earn (P2E) games
In P2E games, players are rewarded for their triumphs with special in-game goodies or an increase in the worth of the objects in their inventory. Each of these things is an NFT that may be exchanged for cryptocurrency or purchased.
You must first purchase NFT in order to take part completely in the P2E games. However, aren’t we accustomed to paying for video games? To play games, we must purchase them. For instance, pre-ordering God of War Ragnarok for the PlayStation, which will launch at the end of 2022, costs $69.99 right now. Additionally, unlike P2E games, you won’t be able to earn cryptocurrency in it after spending money to buy it (just hypothetically).
However, P2E also offers the option of getting free access to play it. However, you might need to pay some money if you want to advance your character or earn cryptocurrency while doing so. Of course, not everyone considers P2E games to be a source of income. Some of us just enjoy the game itself, thus it’s acceptable to spend a little money on a unique gaming experience. However, there are a few hazards you might want to take into account if you intend to invest in and make money with P2E.
Can you actually make money playing games?
How could you make a career while playing a computer game? On the one hand, it all seems a little strange. However, because of their poor incomes and high unemployment rates, people in some nations, like the Philippines, turned to P2E gaming as a substitute for traditional jobs. By playing P2E games, gamers are even able to provide for their families.
The conclusion is that playing P2E games can earn you money. Yet how? To make things clear, let’s give an example.For instance, the P2E game Alien Worlds has 177.000 daily players. Players explore planets, establish economies, create alliances, and form governments in its basic form. Future updates will provide the capability to engage in conflicts with other researchers for resources and territory.
In Alien Worlds, the player selects one of six planets after registration. Each of which is a decentralized autonomous organization (DAO), or collective country. This indicates that each TLM owner has the ability to vote and participate in the governance of the planet. Together, players choose the rewards to be given for completing tasks on their planet, the terms under which resources should be extracted, and other factors.
Summary of NFT Games
The co-founder of the social media site Reddit, Alexis Ohanian, predicts that 90% of games will use the NFT concept in a few years. We won’t be surprised by the P2E model any longer, and earning cryptocurrency while playing games will be routine.
Some gamers disagree with it; they don’t think P2E games are worthwhile. For instance, Ubisoft, recently came under fire for the Quartz NFT platform it unveiled. They will undoubtedly continue to conduct fresh research in this area, but perhaps they will proceed with more caution now.
In any case, playing P2E games is an experience that should be tried. You can begin with little investments. This is in order to properly grasp the P2E dynamics. This will be an intriguing crypto experiment for you, and who knows, it might eventually turn into a source of income.
