The video game industry has been growing steadily in recent years. Millions of gamers are participating in NFT games and the Play to earn mechanism has attracted them to stick with the game more. If you are a newbie and want to learn about the gaming world that is trending. The following article will provide an overview of the NFT Play to Earn Game that you cannot miss!
I. What are NFT Play to Earn Games?
NFT Play to earn game can be understood as the application of NFT to the game model to encode in-game products into NFT format. In particular, with the play to earn mechanism, the game allows users to earn cryptocurrency or NFT while playing.
For example: Axie Infinity is a play to earn game from Vietnam and it is very popular in the Southeast Asian market. The game has about 1.48 million daily active users. With gameplay similar to the famous game Pokémon. Axie Infinity’s focus is on collecting, nurturing, and letting Axie pets fight each other. Each Axie is an NFT. When players win matches, they earn SLP and AXS tokens. In-game items and cryptocurrencies can both be sold for very high prices. Thereby generating income for players.
II. How does the Play to Earn model work?
The operating principle behind the game play to earn is very simple. Players earn rewards in the form of cryptocurrencies, tokens or NFTs through in-game activities such as: complete missions, compete with other players, win competitions and progress through different levels,… Since these rewards can be tokenized in the market, you can convert to real money while playing.
In addition, players often buy some NFT assets in the game to serve their playing process more efficiently.
The Play to Earn model is based on the view that the more players participate, the more opportunities they have to earn and increase the value of the collected assets. Besides, when more players join, the value of the game also increases for the developer and the community.
III. Advantages and disadvantages
- Players can earn real money – this is the biggest advantage of the play to earn model
- Players are free to exchange tokens
- With the patronage and supervision from the blockchain system, the game developer has no right to interfere with the player’s assets
- Both players and developers can benefit from this model
- Encourage the development of the NFT sector, cryptocurrency and the gaming industry
- Game mechanics focus on making money rather than entertainment. This makes the game play to earn not bring many interesting experiences for players like traditional games
- Many games require a large amount of capital to start playing
- The value of in-game currency can fluctuate greatly
IV. The future of NFT Play to Earn Game
With its current popularity, there are many comments and reviews about the future of game play to earn. According to a report by Statista, the market for NFT play to earn games will increase to 3618.4 million USD by 2028. Or according to Alexis Ohanian – Reddit co-founder, in the next 5 years, gamers will only enjoy playing games that allow them to earn money.
As such, NFT play to earn games will continue to grow and expand in the future. Players fully believe that it can overcome the disadvantages and create games with more interesting gameplay, providing a better experience in addition to the monetization mechanisms.
In summary, above is an overview of information about NFT Play to Earn Game. If you are a newbie, there is bound to be a lot of curiosity and uncertainty about this field. So you can learn and try the free games first to get the basic experience before investing. Besides the play to earn game, people can also learn more about the metaverse game trend here.