The p2e games have taken over the world in a giffy. We are witnessing astronomical growth as far as the industry is concerned. Accenture has reported a growth of a massive $300 Billion in terms of industry size. Mostly due to influx of new gamers looking for social in-game interactions. Here is another interesting angle, the advent of blockchain has pushed towards a new paradigm. Now instead of game developers getting all the rewards, game players can now earn equal cryptocurrencies from the culmination of in-game currency or assets (depending upon the type of game). In a manner of speaking both developers and gamers can now share the spoils of the victory.
Web 3.0 and Gaming
Even prior to web 3.0 gaming was still a very lucrative patronage for the niche of entertainment industry. The advent of Web 3 has added to more ways for both developers and gamers to earn better rewards. As we know that web 3 is basically a combination of augmented reality, virtual reality and mix realities. This has opened up more opportunities particularly in the gaming industry. We see celebrities are much involve now in the gaming universe and whatnot. So it is safe to say that with the advent of web 3.0 p2e gaming is becoming more and more engaging. And the opportunities are not only evolving but are also paying off.
What P2E Games Bring To The Table?
Since we’ve had an overview web 3.0 and have discussed the advent of this particular innovation in light of the gaming industry. It is only fair that we also touch the topic itself briefly as an effort of paving the path forward. The play to earn games as perceived by the title refers to those games. Through which player or users can earn actual monetary rewards through crypto exchanges, or by sheer winning. There are many household names when it comes to crypto or pay to earn games. These are a new breed of games that not only provide utility but it’s more of getting paid to perform your hobby.
The in-game assets of these aforemention platforms such as lands are tokenized meaning the owner can sell them on any peer-peer to marketplaces which usually happen to be within the game also. In return of this trade they earn tokens. Which in most cases is exchangeable with tokens and can be monetised as well. Again it is all dependent upon the type of the game and if they offer such transactions.
What Can You Expect From Play-To-Earn Games?
Now the real question is to explain the Play to Earn experience. The interplay between virtual and real world currency is something that has been going on for quite some time now. Play to earn blockchain games has just made it more streamlined. Prior to this games like World of Warcraft whose in-game currency created much of a riot for its interchangeable qualities with real world currency. Another example is EVE online accumulating assets worth hundreds of thousands of dollars. In real world currencies which were wipe out during a single in-game incident.
The play to earn games are well known for creating value to its in-game assets. A real point of attractions that drive habitual gamers towards play to earn games has much more to do with earning rewards in an immersive game that has gripping story lines that do not let users falter at any time. The interactive nature of the games and an immersive atmosphere calls for must have in-game assets. With complete user control, allowing them to sell those assets or modify them as they require. Here is one tidbit that is going to help you and clear a lot of confusions regarding the occurrence of these games. Play to earn games are frequently refer to as crypto games and for good reason also. The core need of these games is to sell crypto coins and pave a pathway for an interchangeable economy. Players can earn small amounts of crypto tokens as a result of being part of tasks or quests within the game, the concept seems pretty simple, it is pretty simple if you choose to overlook the mechanics involved at the backend though.
NFTs in Play-To-Earn Model
Prior to this players habitual players usually thought of these in-game currencies as real, however with the advent of NFTs integrated with blockchain has brought this years of conditioning into reality. NFTs once they step into metaverse laced with AAA gaming options have not only opened the door for extensive use cases for NFT, but also added more to look for in these decentralized gaming platforms. Since the aforementioned is an unique and irreplaceable asset that cannot be duplicated or tempered with anyway. These assets hold their own value which is independent of other assets as well.
All these can easily be consider as incentives for gamers.
Keep in mind that NFTs are under a complete ownership of the player, completely free from the developers and game. Since it is completely at the mercy of the gamers.
The concept as explained in the prior predicament can be summarized into these lines. The play to earn games requires time investment from the players in order to provide a positive return of investment in not only monetary form but also fun.