Play to earn video games, what are they and what are they for?
One of the main objectives of human beings, since the beginning of our times, is to earn money. Normally this used to be limited to the work environment, but with the development of current technologies people can now earn money in different ways, one of them being through "Play To Earn" video games.
Thanks to cryptocurrencies and the rise of NFTs, this new type of video game has appeared and is completely changing the way of understanding gaming, both investors and players can earn money in a much more fun and innovative way.
It is offering all those users who do not yet understand the concept of the cryptocurrency market the power to acquire and trade these digital assets. But what exactly are these games? What are they for?
Stay with us and you will find out.
Gaming 3.0: what are Play-to-Earn games?
The gaming industry has always been at the forefront of technologies, making the most of all the options that new technologies bring us, generating unique experiences that have attracted millions of people around the world to invest time and money in these assets.
However, just as blockchain technology is increasingly being introduced into sectors of our society, it has not lagged behind in the world of video games, creating one of the most interesting use cases based on blockchain technology and cryptocurrencies: the Play to Earn video games.
The Play to Earn video game is based on a model through which a user can earn money in the form of cryptocurrencies or tokens and NFT when playing. It has completely changed the way in which blockchain technology assets are being exploited.
Many experts have called it the new Gaming 3.0. A phenomenon where the main currency of exchange is cryptocurrencies or tokens and NFTs, and where the user can earn these rewards while playing. Moreover, in many cases it is the companies themselves that pay users to play.
Features of Play-to-Earn games
Among the main characteristics of this type of video games are the following:
- They are decentralised games that have been expressly designed to encourage NFT trading.
- Much of these games are generated through a blockchain, which creates unique and collectible items for each game, making them valuable in the context of the game.
- Rewards come in the form of NFTs (Non-Fungible Tokens) and cryptocurrencies or tokens, the main assets within blockchain technology.
- The cryptocurrencies obtained from the rewards can then be used to trade on major exchanges such as Binance.
how do Play-to-Earn games work?
The mechanics of the games are not as complicated as they seem, although it will certainly depend on the way the game is set up to generate income. Or directly from the game itself. You don't necessarily have to earn money while playing, as you can also earn rewards by completing daily game tasks, missions, or, finally, by competing within the game.
The functioning of these games will be directly conditioned by the mechanics defined by the developer. Some of the most popular games are the pioneer Spells of Genesis, the first NFT game; The Sandbox or Sorare. Here the user can obtain rewards in cryptocurrencies in the form of free cards that are given at the beginning of the game.
The user will have to register for a computer game that is based on NFT in order to obtain rewards. While some may involve an initial investment, as you play you can get NFT for free.
Play-to-Earn video games put the player at the centre of their economic engine. It is the player who owns those digital assets (whether NFTs or tokens), who has the decision to trade them for money, for other NFTs or collect them and wait for them to increase in value over time, or, in the worst case, decrease in value.
Everything you need to enter the world of Play-to-Earn video games
To jump into this world and start playing on the Play to Earn model, it's not as simple as signing up and creating an account. You need to follow a series of guidelines without which you won't be able to play:
- Get a wallet
The first and most important thing is to have a digital wallet or purse to store the cryptocurrencies and all the monetary rewards you receive while you are playing. One of the best known is the Metamask wallet.
- Create your account in an Exchange
Now comes the step we all know, and that is to create an account on an Exchange or exchange platform. This will allow you to buy with real money the cryptocurrency you need to start playing. It also serves to sell everything you fan in the game, and from it get real money. The most used by players is the Binance exchange platform.
- Register in the game and start buying cryptocurrencies.
Now it's time to buy in-game cryptocurrencies, and with them you can buy the NFTs you want. As we mentioned in previous lines, some games require you to buy characters or items to play. Others do not. As you keep playing you will earn cryptocurrencies that you will keep in your wallet.
As you can see, these are three very simple steps, but they can give you a lot of possibilities as an investor.
Some of the most popular Play-to-Earn games
This 2D Fighting Game genre, with real-time PvP combat, breaks the rules set by other Play to Earn games that have only tackled the turn-based combat genre. It is built with the Unity engine together with a proprietary blockchain platform integrated with the Polygon network. By playing and winning games, you get two types of tokens: OBT and NAB.
This is the most popular game among Play-to-Earn video games and the world of cryptocurrencies. Its main token is AXS, and it uses the Ethereum blockchain, although it also takes advantage of the Ronin sidechain to avoid congesting the mainnet.
It has a NFT marketplace to sell creatures, and the possibility of reducing them among themselves thanks to the Small Love Potion (SLP) token. In the game, users raise their small pets (which are NFTs) and make them fight with other characters. Money can be obtained by feeding and raising them or by winning battles with other characters.
This game laid the foundation for the most popular Play-to-Earn game mechanics. Based on the Ethereum network, here players can buy kittens on its NFT market and breed them. You can crossbreed the DNA of these cats and their own characteristics to get new offspring with their unique characteristics.
In addition, the game also features other adventure mini-games and puzzles.
Based on the Polygon network (MATIC), this video game does not require an initial investment to start playing. Here the user can start his own game with non-NFT characters. The main exchange currency is the KABY token, available on decentralised exchanges.
Play-to-Earn video games have established themselves as one of the main axes of the cryptocurrency market. Many experts see these platforms as the future of gaming and video games as we know them today.
It is also the perfect gateway for all those users who do not yet know how blockchain technology works and want to bet on it.
At Occam, we are committed to blockchain technology, which is why we have established ourselves as a company specialising in blockchain development.
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