Trading resources earned from within the game for cryptocurrencies like bitcoin, Ethereum, etc. is now not only possible but a trending reality. The best part? You need to have zero knowledge about how blockchain works because there are games that can make you work through blockchain-based simulations to get a better understanding.
This means that it’s possible to play to earn, proving right every gamer who knew that there was money to be made in the global gaming industry that has been thriving lately. Especially with the ever-growing presence of cryptocurrencies raising everyone’s heads towards hope for a digital economy.
What is Play to Earn?
Playtoearn.net is a website that hosts numerous games that allow users to spend time developing their characters in games of their choosing and mine resources that can be converted or traded in real life crypto exchanges. Gamers are awarded NFT (non-fungible token) or cryptocurrency.
Those who don’t know what NFTs are, think of them as another facet of the crypto boom. These are tokens that comprise an item’s ownership information. Similar to copyright or an autograph, NFTs make the item stored in that blockchain unique, thereby high in value. Last year alone, NFTs worth over $250 million were traded, sold and bought in the market.
Compared with other games that players just had to quit one day due to lack of new content or any benefit of their progress, NFT or crypto games have the potential to become a way to earn a living in the near future.
To play to earn, you need to sign up with a metamask wallet.
Since there’s more than just a few different games that allow you to play and earn, how you play each game varies with their individual rules.
For example, one of the most famous NFT games in the world right now is Axie Infinity.
Axie Infinity has an online active userbase of almost half a million players that log on each day for hours on end. This game has been designed and developed by a Vietnamese studio, Sky Mavis. Based on similar contexts as the famous franchise, Pokemon, except that the characters of this game are called Axies.
To get started, you need to buy yourself an Axie that can cost you anywhere from $150 to $350. Rarer and mystic Axies go for even higher rates because of their unique characteristics and abilities.
The universe of Axie Infinity involves levelling up your furry creatures (Axies) by getting into fights and spending resources to fulfil their individual requirements. Whenever you acquire a furry creature, you have to train them just like in the Pokemon universe to make sure that they can hold their own in a fight. You can engage in online battles, complete in-game challenges and more to increase your character’s effectiveness and chances of getting better loot.
Your goal in Axie Infinity as a gamer looking to earn by playing is to gather as many small love potions as you can. These love potions can be used to make more Axies or be traded in for cryptocurrencies. So far, top-tier gamers of Axie Infinity have been reported to be earning almost 1,500 SLPs every day. As per conversion values of the time of this post, this is valued at almost $435 in real life. This means that once you get good, you can be doing 2 jobs that pay $25/h or play this game.
Another stat that might convince players of other franchises is that some of the rare Axies in the game can even go for up to $100,000! Last year, a triple mystic Angel Axie was sold for almost $120,000! The total amount of money circulated through the in-game trade amounts to almost $170 million every month. Players keep exchanging their currencies to get real-time money and invest back when they need to get better in the game.
There’s also an option to trade in your Axies at the Axie marketplace that converts everything to NFTs. You can even sell in-game earned resources like barrels, flowers and even real estate for NFTs. You will be buying and selling all these items using Ethereum. Keep looking out for more eco gaming systems that are approved for token exchange.
Finally, there’s the Axie Infinity Shard, another cryptocurrency in the game that players have to invest in. Whoever has invested in the AXS gets a vote in the governance of the game’s ecosystem. Moreover, as an investor, you can use your authority to have a share of the community treasury. This currency found in the blockchain game has risen up to sixfold in the past year.
Why Play to Earn?
Crypto is rapidly changing the way we game. The fact that it operates on blockchain technology implies that there are no risks of data loss or infringement.
It’s no secret that no one wants their progress in any game to be useless as soon as the screen turns off. The feeling of despair that rushes over as soon as you watch the credits roll or the servers die out on your favourite game is truly saddening. Even now, games like World of Warcraft and others are banning players from trading game accounts or resources in third party auctions and online social groups.
This is a major problem for gamers who have the tendency to play a game with dedication. One has to wonder the number of universes that you can try out before finding something you actually feel like you can be good at. And what’s better than to have that same game earn you money while keeping you going for years on end?
Not only will blockchain games offered by playtoearn.net keep you engaged for thousands of playable hours, but you’ll also end up wealthier than when you started out. Though Axie Infinity is one example, you can find a selection of games to choose from. Other popular games include Lightnite, Blankos Block Party, Lost Relics, Gods Unchained, etc.