Play to Earn Games. Are They Legitimate?

It's no mystery that gaming has evolved from an innocent pastime to a multibillion-dollar business. Games have been a distraction and pleasure, just something to take your mind off a long day's work, throughout the past 40-50 years of home video gaming.

However, a new breed of video games is now embracing blockchain technology such as NFTs to reward players with cryptocurrencies. Decentraland and Axie Infinity are two of the most popular and intriguing play-to-earn games in the crypto realm.

They appear to be innovatively transforming the gaming business with a new, highly entertaining format that seems to have mass-market appeal.

The industry concept has evolved as a result of the rise of blockchain. Now, instead of the money going solely to game developers and publishers, players can now make an earning using cryptocurrencies or non-fungible tokens (NFTs) in play-to-earn games through their computers or smartphone.

These "play-to-earn" games are already allowing gamers to make a job playing video games in some countries, with scholarship programs and academies cropping up to help players traverse this weird new world. It's also crucial to remember that the gaming sector was one of the first to use non-fungible tokens.

With the play-to-earn-games legitimacy in question, the gaming industry has begun to shift away from individual games and toward games that are more community-based to imitate the real-world experience.

There are in fact quite a number of legitimate play-to-earn games that allow players to sell their assets if they no longer require them or if they have completed the game, ensuring that none of the player's money is wasted.

So, what exactly are “Play to Earn” games?

To keep it simple, play-to-earn games are actually video games that allow players to earn real-world rewards. While people have been making money from video games for years through techniques like "gold farming" and unauthorized marketplaces for in-game purchases, the arrival and rise of the blockchain technology and NFTs has made the play-to-earn-games legitimacy a whole other transformation dramatically.

Game designers can develop unique and tradable in-game items and rewards by leveraging blockchain technology's authenticity. Earning native digital currencies, collecting NFTs, or staking can all be used to obtain rewards.

What makes its value intriguing? Are they worth it?

The currency which players earn from within the platform provides value to all play-to-earn games. However, not every game follows the same format, and some newbies are merely interested in cashing in on the metaverse frenzy.

This in fact is the major intriguing concept of the play-to-earn-games legitimacy. For in-game purchases and trade between players, most games use native tokens. They get value from the use of their tokens, which are seen as lucrative by users and cryptocurrency traders.

The famous gaming world, Axie Infinity's play-to-earn-games legitimacy approach, for instance, relies on players making a substantial initial investment in game-specific NFTs. Gamers can then sell their in-game digital assets – gained via gameplay — with other gamers for a fair price, continuing the loop and injecting value into the gaming economy.

But, is there a guarantee here?

No. Ultimately, in order to make the play-to-earn-games legitimacy solid, it highly depends on how much effort you put into the game, how popular it is, and how much demand there is for the in-game assets or underpinning token. While play-to-earn isn't a magic pill that will render any game profitable for players, it does however set the stage and provide a backdrop for such a value-distribution game.

Play-to-earn within the Metaverse

The metaverse, a communal virtual world in which users engage as avatars, getting acquainted, interacting together—and, of course, playing games—is emerging alongside play-to-earn gaming.

Non-fungible tokens will be used to represent virtual items and land features in the metaverse, which will rely heavily on the blockchain, cryptocurrencies, and NFTs. Metaverse platforms like The Sandbox, Decentraland, and CryptoVoxels are already integrating NFTs into the shared virtual world, and mainstream brands like Facebook, Adidas, even Samsung have staked out their metaverse claims.

Even if the metaverse is still in its early stage, live performances and meet-ups are already taking place. Gaming will undoubtedly follow, and the metaverse's promise of an interoperable environment, as well as NFTs allowing in-game products to cross platforms, could work as a powerful impact for play-to-earn gaming. Finally, the power of play to earn cannot be disputed, with all, from anywhere, having the opportunity to earn a livelihood simply by playing games they enjoy.

Is it a Sustainable Business Model?

Perhaps, but there are a number of concerns with this approach, including the possibility that the temptation of earning money will compromise the gaming experience. One significant risk is a game's capacity to maintain the economy it aims to create. The only way to keep a play-to-earn business alive is for the game's users to be of excellent quality. People who use bot-farmers to make the most of the gameplay just for the sake of residual earnings may diminish the experience of being entertained and truly having some fun while playing. Furthermore, in order to sustain the business model and grow revenue streams, ongoing trading of in-game assets necessitates a consistent inflow of new players.

To Conclude

NFT Marketplace Development Company always start looking for the best play-to-earn game (perhaps several) that work best for you once you grasp how they actually perform. Although play-to-earn crypto games can indeed be beneficial, they frequently need both a monetary and time commitment to understand the game and build your investment. It is feasible to have fun while earning substantial crypto rewards for your time by exercising your due diligence and prepping to go long in your digital gaming experience.