Video games have gone through several stages as they have developed — paid, free, games with donation opportunities. Finally, the newest game concept is Play-to-Earn (P2E). The model covers the concept of an open economy, allowing players to contribute to the game world and receive financial rewards in return. As a rule, blockchain and NFT technologies are used in games of this kind. Today, we will find out what Play-to-Earn is and what P2E games deserve attention.
Basic Principles of Play-to-Earn (P2E)
Play-to-Earn (P2E) is based on the Free-to-Play (F2P) model. This means that players don’t have to pay to download, install or access the game. Still, players can pay for the actions they need, in-game items or currency, additional content, etc. Today, many popular online games are built on this model and bring billions of dollars to their creators every year: Dota 2, Fortnite, Hearthstone, League of Legends. Thus, the concept is fully realized, and it’s time to think about new mechanics.
Features of the New Play-to-Earn Model:
- Being a part of the in-game economy, players create value for other players and developers.
- Players are rewarded with digital assets, which can later be used in the game or sold on the free marketplace.
- The concept fits very well with blockchain technology — anything can be a reward, it is especially convenient to use cryptocurrencies and NFTs.
- Although access to the apps is free, players need to purchase a character to enter the gameplay in most cases. That is, you still have to spend some money at the start.
In this way, developers reward players for putting time and effort into the game. The advantage of the P2E business model is that gamers always create some assets that can be sold. Even a character or item bought initially can be subsequently sold.
The Role of NFT Tokens: Key Things to Know
NFT technology is closely related to blockchain gaming. Many game assets are NFTs, and there is usually a marketplace for their purchase or sale. NFTs can be used as proof of ownership of a particular digital asset. Thus, NFTs have become a popular way to claim ownership of digital art, allowing an individual to claim the original copy of an image, music, or video.
Likewise, using NFTs to mint in-game items allows you to trade them with more confidence. Each in-game item is unique in some way and can be of either high or low rarity. The latter, of course, are valued higher.
For example, in Axie Infinity, one of the most popular P2E games, players collect, breed, and use creatures called Axies to fight. Each Axie, in turn, is represented as an NFT. Axies can be sold by converting into cryptocurrency or upgraded to become rarer and more expensive creatures. In other games, the gameplay may be different, but the common feature is that the main game assets are presented in the form of NFTs, which confirm user ownership.
Best Play-to-Earn Games to Play in 2022
The most popular P2E games are characterized by a high market cap of their native tokens. Let’s consider the most popular ones!
#1 Axie Infinity
- Launch date: 2020
- Native token: $AXS
- Secondary in-game token: $SLP
- $AXS market cap: $3,161,964,887
- $SLP market cap: $35,070,340
Axie Infinity is a strategic game where you need to breed Axie pets, develop their skills, and earn energy, which allows you to play the game by completing in-game quests. It is estimated that the average player is able to earn up to 4,500 $SLP per month, which at the maximum rate was about $1,800, and now $46. As a result, people in the Philippines even quit their jobs to dedicate themselves to the game.
If you’re wondering where to buy AXS, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy AXS in the fastest and most convenient ways using any available payment method. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
- Launch date: 2017
- Native token: $MANA
- Market cap: $4,837,940,997
Decentraland is a metaverse where players create characters and interact with each other in a variety of territories, each equipped with in-game items and decor. Most of the items are NFTs that can be bought and sold on the built-in marketplace. A special constructor allows you to create your own items, which can also be sold.
Read next: How to Buy Decentraland (MANA): A Step-by-Step Guide 2022
#3 The Sandbox
- Launch date: 2020
- Native token: $SAND
- Market cap: $3,709,179,824
The Sandbox is a voxel blockchain gaming platform that allows users to sell and buy assets on an integrated marketplace. A special editor is used to create in-game items. In fact, you can create any game in any genre without much effort. The $SAND token is the basis of transactions and interactions on the network.
Read Next: How to Buy The Sandbox (SAND): A Step-by-Step Guide 2022
#4 My Neighbor Alice
- Launch date: 2021
- Native token: $ALICE
- Market cap: $201,525,543
My Neighbor Alice is a multiplayer blockchain game where you can buy virtual islands and govern them, create in-game items, and interact with other users. This is an entire ecosystem for players based on the concepts of P2E and NFT. Each player in the system is represented as an avatar, which can be upgraded, just like in-game land plots.
#5 Gala Games
- Launch date: 2021
- Native token: $GALA
- Market cap: $1,337,707,946
The platform includes several blockchain games at once, which are united by minimal visibility of the technical part for ordinary users. The creators of the platform believe that the blockchain in games should be invisible. The decentralized ecosystem is driven by the community. Town Star is considered one of the most promising games created by Gala Games.
The Play-to-Earn concept is an innovation in the world of the blockchain industry that has the potential to revolutionize the gaming economy. The open economic model ensures that players who take part in the development of the game world receive financial rewards for this. Then the domino effect comes into place — seeing how other users earn, more and more new participants join the game.
Currently, there is an upward trend in this field. In addition to retail investors, large institutions and investment funds actively invest in P2E games. The immediate future of the industry looks quite promising.
What is the best P2E game? Feel free to share your favorite ones in the comments below!
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