Play-to-Earn games have gained tremendous popularity in recent years. The gaming community got hooked to it primarily due to the thrill associated with the games and the lucrative awards. If you look at the recent figures, some of the popular titles have more than 1 million active users. Every game, genre, niche, and the whole Play-to-Earn gaming space has a community around it, with members actively interacting and, in some cases, promoting the game on various social media platforms. Word-of-mouth promotion seemed to have worked well for these.
What are Play-to-Earn games in the true sense?
As the name suggests, any game that rewards users for participation will fall under this category. But, there’s a critical aspect here, the rewards offered should have some real-world value. So, if a game only provides coins that are redeemable within the ecosystem and of no apparent value outside of it, these wouldn’t come under the Play-to-Earn domain.
The rewards offered could be anything, ranging from the in-game tokens, the native token on the platform, NFTs, skins, and weapons, amongst others. Every game may reward users with one or more of these. It all depends on how the game is developed and the items integrated into it.
How do Play-to-Earn games differ from regular games?
It’s quite simple! For regular games, you have to shell out a certain amount, either for purchasing it or unlocking the full version. While in Play-to-Earn games, you get rewarded for active participation without having to shell a penny, though, for some of the titles here, you have the option to progress quickly through the initial stages by acquiring certain items from the marketplace.
Also, as discussed earlier, the rewards available in Play-to-Earn games hold value outside of it as well. To understand it better, let’s take an example. Say you are playing a game from the GTA series. Any points or rewards won for completing a mission help you progress in-game but cannot be sold or redeemed for fiat currency.
When talking about Play-to-Earn games, let’s consider ADA Demon, a popular title with a whole ecosystem revolving around it. Here, when you collect items or receive rewards, generally NFTs or the platform’s native token, these can be traded in the built-in marketplace or on exchanges. Also, there’s the option to stake the tokens, where you lock them on the blockchain for a certain period to verify transactions and receive a regular stream of funds as rewards.
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