Video gaming is one way to destress after a long day of work and school. However, almost all players require at least a 99.9% competitive level to earn while gaming. What if this was minimized? Enter the NFT-powered P2E game. When merged with blockchain technology, virtual gaming has become more gripping than before. Even though skeptical, people are curious about getting involved in play-to-earn games.
Play-to-earn games differ from traditional gaming styles, allowing players to earn while having leisure time. You heard right! P2E games will enable you to pocket the income that comes while playing the games. These games are merged with the cryptocurrency and NFT marketplaces to make them decentralized. The advancement gives power to the players instead of the developers.
What Is A P2E Game?
A Play-to-earn game is a development powered by blockchain technology, ensuring earning while simply gaming. NFT-powered P2E game contains valuable in-game assets that can be bought by just playing the games and leveling up. These are decentralized games where the users are given full ownership of their virtual space and in-game assets. The developers mint these in-game assets as NFTs on the blockchain. Although a virtual asset, these minted NFTs carry real-life value and open multiple possibilities for the user.
The minted NFTs can range from skins, weapons, characters, currencies, and even virtual land built on Metaverse. Just like any other NFT, these in-game assets carry profitable revenue in real-life. In traditional games, the assets are only utilized inside the virtual space. However, in NFT-based games, the asset at any moment can be brought into the NFT marketplace and can be sold or traded.
Now, let’s say you got boosted by the concept of playing and earning. Thinking about investing your formerly earned money into the volatile world is challenging. Enter free-to-play games. Several games allow you to play the games for free and collect in-game assets on the go.
How Do P2E Games Work In Real Time?
NFT play-to-earn games reward the players with each task completion, win, and other activities. That being said, knowing how exactly NFT play-to-earn games work is a must. Developers can mint an existing cryptocurrency or build a native cryptocurrency as tokens. To mint a native cryptocurrency, the developers must create blockchain projects, design tokens, and close the deal with smart contracts. These native tokens typically operate like any other in-game token, carrying real-life value.
Coming to the minting of existing cryptocurrencies, developers can just cut to the chase and choose to use the already present tokens and build the game. All the NFTs in the game hold different values. For instance, say two players have identical NFTs, with one having a blue jacket and the other black, and they were to exchange those two. This can result in one player having an NFT of more value and the other lesser.
Player feedback is constantly considered, and the game’s development progresses accordingly. Several players often group to form an organization that further supports other community-based P2E games. Dedicated players can start by playing the games, and as they contribute to the in-game economy, they yield value for other players and developers.
Trending NFT-Powered Games
Many trending games are both available for the free-to-play and pay-to-play models. In P2E games, the availability of two central mechanics: collection games and creation games. The top NFT games right now trending are:
- Axie Infinity: In this NFT game, the players must buy the in-game NFT beforehand to start playing the game. This can be a bit expensive as on Axie can cost $18.97. However, these Axies, once sold, can bag $138.49 million in a 24-hour trading time limit.
- Gods Unchained: This game is a free-to-play game card game, and you are free to buy the desired NFTs on the go. The players must build a strong deck to outsmart their opponents, thus leading them to purchase tokenized NFTs. One card can cost $0.4246 and has a 24-hour trading value of $2.57 million.
- The Sandbox: The Sandbox is a creation game replicating Minecraft. In this, the players can create their own virtual space. The tokens here can be bought for $1.31 and have a 24-hour trading value of $269.5 million.
Futurism In The NFT-Driven Marketplace
The future of NFT-based games is huge. Data showed that 2021 alone saw a rise of $2.32 billion in P2E games. On top of that, introducing Facebook and Microsoft into the Metaverse is noticeable progress in raising the bar of all the upcoming NFT projects. Also, globally love Final Fantasy VII has also launched an additional NFT project on its 25th anniversary.
With all the hype about the NFT-powered P2E game, people are still skeptical about involving in this highly volatile ground. Several developers have also voiced their concern about merging NFTs in the traditional gaming world. Nevertheless, blockchain games are constantly rising and will soon be well-known in all industries.