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PLAY 2 EARN

Can games be converted into real currencies

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What is Play2Earn?

Play2Earn games (literally, play to earn) refer to a game concept in which the platform provides users with the opportunity to earn assets (yes, yes, in the game) in any form that can be transferred to the real world as finance.

As technology advances, it has become available to a large number of users, and video game developers have reached a whole new level. In the past, games could only be played on arcade platforms or certain gaming arenas. However, relatively recently, technology has made it possible to download games to smartphones, personal computers and game consoles such as PS5, Xbox and so on.

Finally, there was an opportunity to make money on games. Play2earn is especially popular in the blockchain universe. In general, P2E gives players the opportunity to earn income just by playing. Also, everything is interconnected here, and players earn assets for their contribution. Digital assets can range from coins to game accessories that have been tokenized on the blockchain.

A great example of play2earn games is Axie Infinity. In this game, the Axes are adorable animals that players acquire, breed, and fight to win rewards. Each Axie is a non-fungible token (NFT), which means it is a digital collectible. The game even has its own economy (a world called Lunacia). In Lunacia, users can purchase land and breed Axes using their in-game tokens, Smooth Love Potion (SLP) and Axie Infinity Shard (AXS).

Games like Axie Infinity (AXS) are already helping people around the world (especially those hard hit financially by the pandemic) earn solid amounts of money. People in the Philippines earn $1,500 to $2,000 a month just by playing Axie Infinity. Many people in Vietnam have also quit their jobs as they earn a decent amount of money from gaming.

How do Play 2 Earn Games work?

There are quite a few games to earn money from, here are a few examples: Lost Relics Splinterlands CryptoBlades DogemonGo Sorare P2E as an evolution in the gaming industry P2E games are taking the gaming industry by storm, and it's no surprise that this is happening.

Users enjoy the process and thus earn a living. As the number of users grows, it becomes clear that P2E gaming is the future of the gaming industry as people are more interested in owning unique in-game tokens.

Games like Axie Infinity have a huge user base as this platform allows users to earn real money. It also promotes the adoption of cryptocurrencies. By the way, P2E has attracted some people to the blockchain space. In normal games, the relationship between the gaming company and the player is one-sided. The game company makes a profit by selling the game on some platform or selling something inside the game, while the user simply spends money (unless you are an eSports player, of course).

Blockchain games have changed the paradigm by allowing players to monetize their time. However, there are problems. For example, the adaptation of new players to some games is difficult due to the amount required to start. Another problem with some P2E games is the graphics, which are quite boring for gamers familiar with 3D or advanced multiplayer games. The user interface may seem completely uninteresting to them.

But still, NFT Play-to-Earn games are a real leap forward in the gaming industry, and there is no doubt that this will continue to gain momentum, given the prospect of NFT. How to start earning with Play 2 Earn? For example, to start playing Axie Infinity, you need to buy (or borrow) three Axies. Prices range from $190, although they average around $350. High level characters cost a lot more.

The most expensive triple mystic Axie named Angel was sold at the end of 2020 for 300 ETH (at that time about 120 thousand dollars). Meanwhile, in early 2021, another object in this game was purchased for $1.5 million. The monthly trading volume of all Axie Infinity NFTs is around $170 million. There is another cryptocurrency associated with the game - Axie Infinity (AXS).

Some of the biggest Play 2 Earn Games

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