Play to earn has been one of the trending keywords from mid-2021. This trend has made the cryptocurrency market more exciting than before with the appearance of a series of game projects. What makes this model attractive? Let’s find out through the following article!
I. What is Play to Earn?
Play to Earn – often called p2e for short. Like its name suggests, p2e is a model where users can earn money through playing games.
What is Play to Earn? – Image: marginatm.com
Play to Earn games are built on blockchain technology. It is this technology that helps create tokens and irreplaceable items in the game. From there, users can collect cryptocurrencies and NFTs in an economy – digital assets that are always in motion in the game.
Players will get the benefit of being able to monetize the rewards as in-game assets. These assets can be anything from characters, special items, to tokens,… and can be exchanged, bought and sold. This is a new element compared to the traditional game. Players are rewarded for putting time and effort into the game. And they also create value for publishers when participating in the in-game ecosystem.
II. Advantages and Disadvantages
1. Advantages
- The first advantage of Play to Earn is that players can earn money when playing games.
- When players own the game’s tokens, they will be patronized and monitored from the blockchain system. This creates transparency for player assets.
- Players are free to exchange tokens on DEX or CEX whenever there is a need.
- Usually each game has its own marketplace. In-game NFTs can also be bought and sold easily without going through a third party. This helps to reduce the risk of buying and selling for players.
- The current Play to Earn games are quite simple, with a user-friendly interface, and are available on both computers and mobile devices.
Advantages of Play to Earn – Image: apehub.net
2. Disadvantages
- Play to Earn games mostly attract players because of the profits they bring, not much entertainment.
- The genres, graphics and gameplay are not really diverse and unique.
- Players must invest a certain amount, the amount is more or less depending on the game. There are games that require high investment capital. But there are still some free games, however players have to spend money to buy special items or upgrades,… to improve game performance as well as the ability to make money from that game.
- Because of volatility, the price of tokens can rise or fall rapidly. This causes problems for those who want to make a steady profit from the game.
3. Some Play to Earn games
3.1. Axie Infinity
Axie Infinity is probably a name that is no longer strange in crypto gamers, especially in the Vietnamese market. The game was founded and developed in 2017, inspired by the famous Pokemon game. Characters in the game are virtual creatures in the form of NFTs called Axies. Players can collect, raise, breed and sell virtual farmed breeds created.
Funny characters in the game Axie – Image: Axie Infinity Game
3.2. The Sandbox
Launched in 2011 but in 2020, when the new version of The Sandbox project was released, the game became fast-growing in the crypto world than the previous one. It is one of the most popular Metaverse games with a market share of almost 7% in the Metaverse market. Players can buy land to build houses, castles, or perform tasks to earn in-game money, which is SAND tokens.
The Sandbox Game – Image: kcgroup.capital
3.3. DeFi Warrior
DeFi Warrior is released in 2021, combining two core elements, DeFi and NFT. This is a strategy game, inspired by the crypto universe, where each warrior is a cryptocurrency and each planet is a different blockchain.
Players can earn rewards and money in the game through many ways such as: Win matches, sell or rent warriors, build factories, do daily quests, etc.,… and numerous events are held regularly.
DeFi Warrior is a choice for those who like to immerse themselves in intense battles but no less attractive!
DeFi Warrior Game Interface – Image: DeFi Warrior Game
Above are suggestions for Play to Earn games that you can try and experience. Hope this can help you find suitable games to start exploring and earning. The heat and potential of this model cannot be denied. Experts have said that Play to Earn is not a temporary trend, but also a way to earn more income for many people in the long-term future. However, people should choose and learn carefully before investing to avoid encountering less reputable projects.
