Play-to-earn games, also known as Blockchain games or NFT games, are games where players earn rewards with real-world value by battling other players, completing tasks and progressing through various game levels. These rewards come in the form of in-game assets like crypto tokens, virtual land, as well as skins, weapons and other NFTs. Due to the decentralized nature of these games, players can buy, transfer and sell these in-game assets outside of the game’s virtual world in exchange for real money.
Traditional gaming is often described as a “closed-end model”. Meaning, players have to pay to play the game, then spend lots of time “grinding” and doing repetitive tasks within the game to advance or unlock prizes. In the end, the players aren’t allowed to transfer or sell their earned items, and they’re beholden to the gaming companies, who have the implicit power to shut off or make changes to the world whenever they feel like it.
Vitalik Buterin is a gamer?
Did you know that Ethereum, the world’s second most popular cryptocurrency in the world, was inspired by a World of Warcraft nerf? Co-creator Vitalik Buterin had been playing the popular game for years, but one day its developer Blizzard removed a Siphon Life spell skill from one of his warlocks, weakening his character and undoing many hours of work.
“I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit,” Buterin wrote in an about.me bio. From there, he fell into Bitcoin and over the years developed an idea for a new cryptocurrency. One that would let developers build any kind of code on top of a blockchain ledger.
Play-to-earn games bring the difference
Play-to-earn games “bring value back to the players. Players can earn rewards by earning in-game assets like crypto tokens, virtual land, avatars, weapons and other non-fungible tokens (NFTs), by completing tasks, battling other players or progressing through various game levels. Unlike traditional games, the decentralized nature of play-to-earn games lets players buy and transfer in-game assets to outside the game’s virtual world.
Some P2E games you could know
Axie infinity, Decentraland, Stepn, Kryptokitties