The online gaming community has started to incorporate play-to-earn games, as these games provide opportunities for them to make money by just sitting and playing online and earning several collectibles. Some people even use this growing opportunity to make a business out of these money-making games. In actual fact, no one has actually imagined how fast the growth of these types of games will be in dominating the online gaming industry. They are continuously growing and getting known to be utilized by more and more people.
How play-to-earn games started is because of how game developers are gearing and modifying the games for adults to enjoy. Then, they had an idea of how adults will most likely participate in the gaming world, which made them customize the games by rewarding participants with cryptocurrency or non-fungible tokens (also referred to as NFTs) on the blockchain through completing certain levels of playing the game. With these customizations and developments, it then enabled players to trade and sell their NFTs for cryptocurrency, then convert to local currency. Over the years, this type of virtual economy is continuously being introduced to many. Though it may still be complicated for some, the main purpose of play-to-earn games is to become an exciting and effective way for gamers to earn income.
Massively Multiplayer Online Games
Moreover, through digital advancements, gamers can communicate easily with fellow players, even those residing from across the world through virtual environments. Massively Multiplayer Online games, which also refers to as MMO games, have been developed then brought significant changes on the way players interact, form networks and establish communities, which enables people to connect and socialize virtually without borders. And as mentioned earlier that certain developments have led people to trade and sell their NFTs, MMO has been an effective help for players to create business with other players too. These types of online games have been in the forefront of innovative business strategies. Thus, they take advantage of the heated demand of play-to-earn games. These measures have enabled the participation of gamers across the world, leading them into selling their digital goods for local currency.
Earning In-Game Cryptocurrency and NFTs
The main purpose of the development of play-to-earn games is for gamers to be able to earn income. They will be able to acquire cryptocurrency through selling and trading different and unique NFTs from different games. Each NFT may represent either an item, character, or other collectibles that can be obtained in the game. These can be purely cosmetic, or can be used for a purpose in-game. Character skins in games such as those involving battle arenas, for instance. Developers create various skins that have the ability to enhance the appearance of the characters players are using, which attracts them to purchase. Cryptocurrency can also be earned from tokens that can be acquired from some games which involve auctions.
Buying and selling digital goods for you to get real currency is not a new process for some. However, these economic activities have become more widely practiced as online communities are gradually growing and becoming big businesses over time. Which is why play-to-earn games have been well-appreciated by both businesses and players. Subjecting in the virtual economy, these games are providing opportunities for players with regards to the ownership over in-game assets. Then, it allows them to increase the value by actively playing the game.
Blockchain Technology
Play-to-earn games allow users to acquire cryptocurrencies and NFTs that can be sold on the market. This makes more and more people have been attracted to get involved in this type of industry. With users regularly playing the games, they can earn more items or tokens to sell and acquire an income. Some even devote their whole time into playing these games, replacing their actual jobs into something that they know they will enjoy while earning money. This is one of the major reasons why the world of play-to-earn games is continuously growing over the years.
But then, these online activities still involve risk. You might have to put up an initial investment to purchase certain items, characters, and other collectibles for certain games before you can play them. This is where blockchain technology comes in. Blockchain has the ability to help guarantee the collectability of the items purchased, and create working digital economies. The idea of this type of technology has actually been around for quite some time now. In fact, it is originally used for operating cryptocurrencies such as Bitcoin.
Through blockchain, they ensure that digital systems are keeping track of the owners of these cryptocurrencies and NFTs. They play a huge role in maintaining secure and decentralized records of transactions, in cases of selling, trading, and exchange. They make sure that no specific entity could change, duplicate, and delete blockchain data. It is also vital to be integrated as it helps to create real value for in-game items.
This type of technology makes the online gaming industry a safer place to protect and store your NFTs even online. And as it has been introduced to play-to-earn games, they have started to rely on blockchain technology for making the online gaming industry a safer place to earn money.
Free-to-Play and Play-to-Earn Games
There are certain games which are free to play. They do not need any in-game purchase just to make them work. This type of model enables gamers to get a game that is completely free, without any financial commitment. Games are always downloadable. However, they give users a limited and constrained experience. There are certain aspects of the game in which you need to spend a specific amount of money to access some levels. This may speed-up their progress, or to acquire special items.
Some of the biggest games in the market these days can actually be downloaded for free. Although the game is available for everyone, there are in-game purchases that are optional for everyone to still enjoy. Game developers have tailored the game in such a way that users can pay for additional content or cosmetics.
The play-to-earn games actually have similarities with free-to-play ones. They also use the same mechanics. The only difference is that play-to-earn can actually allow gamers to generate earnings and obtain valuable digital assets. In essence, these types of games should actually be made available for free. However, that is not always the case. Gamers who want to earn through online gaming must have to invest an amount of money and make them grow. That is how the virtual economy works in general as well.
Key Takeaway
The online gaming industry has gone through a massive change as play-to-earn games have been integrated to some gaming platforms, helping users to earn profits while enjoying the game at the comfort of their own homes. The change has been made possible with the emergence of NFTs as well. However, still remember that these types of games are similar to most online investments you can make. They come with risks. But as long as you will be able to make decisions well, do your research, and plan everything right, you can be able to earn so much while having fun with whatever game you feel like you will enjoy.
