Several game lovers have discovered a strange way of earning real money from just playing games. It is equally important to define the benefits of the games industry, which can be ready and produce great results. Gone are the days when playing games was simply a passive hobby without any tangible reward. Now, the gaming industry commands billions of dollars in worth.
Meanwhile, stakeholders in the business are not simply the investors or the designers. We now have the game players with a financial stake in the best play to earn games. Also, they expend their time and investment in the game and earn monetary rewards. New gamers also have access to a new community of game lovers with healthy social interaction.
The blockchain industry has also brought a paradigm shift to the gaming industry. And the reward of the game is not restricted to the distributors, game developers, and investors. But now, game players can also generate income from playing these games with non-fungible tokens (NFTs). These NFT games are based on a unique technology and gaming model known as the play-to-earn or P2E model. Also, they are suitable for play both on the gaming console, the computer, or a smartphone on the go.
However, before we even begin to explore these play-to-earn games, let us learn in detail about them.
What are Play-to-Earn games?
Play-to-earn (P2E) games allow players to earn digital assets or items as they advance in their gaming experience. For instance, in Massive Multiplayer Online (MMO) games, players can continue to gather in-game assets such as weapons and wearables or acquire properties. At other times these rewards are earned when the player completes a challenge or wins a quest. The offer may also be the content of a loot box that the player can buy with real currency.
The items are limitless and vary depending on the gaming environment and type. P2E games also allow players to customize their characters with different attires or outfits and fortify them with equipment and weapons. However, the items may not be sellable to other players in cash but only using in-game currency. This function is what the play-to-earn games introduced to the gaming world.
The reliability of the blockchain technology means there is now a secure platform that allows things that were not conceivable to be possible. Now, game developers can create rewards and in-game systems so that they are unique and priceless. Also, they are transferrable from one player to another. At the same time, the rewards can range from native digital currencies that are only peculiar to the game at hand or NFTs that can be earned by staking.
On the other hand, the gained NFT currency can be exported into a crypto wallet and exchanged for fiat currencies. Or the player may choose to sell these items to other players within the game community, trading platforms, or even to secondary marketplaces. One of such popular play-to-earn games is the Axe Infinity, in which players can buy axies, breed them and battle them against other axies for NFT rewards. The game is also based on the Ethereum blockchain.
An NFT represents each Axies that the players can buy or sell using cryptocurrency technology. Let us now move to the core of the essence of this article.
How to pick the best play-to-earn (P2E) game
Now that you have learned what play-to-earn games are about, the next thing is to choose the right one for you. There are many P2E game options today apart from Axie Infinity we mentioned earlier. In addition, there are several hundreds of play-to-earn games that are in development.
However, how do you know which one is worth your time and effort as the right one? Before you begin the search, you should consider what you stand to gain as the payout. In other words, what exactly do you stand to gain from playing these games? In addition, how can you convert these coins from the P2E games into cryptocurrencies that you can, in turn, sell for real money?
What steps should you then take?
Define your goals: NFT rewards, Coins, or the two?
In-game rewards from play-to-earn games come in different types and forms. And many times, the game developers understand the reward system so that they allow both rewards to be possible. Therefore, it is easy for you to pursue NFT rewards, coin rewards, or combining the two types. When you now earn these rewards, you can trade them or sell them to other players or buyers in the external trading marketplaces.
On the other hand, the game player can earn a popular cryptocurrency from playing these games. For example, the NFT in Axie Infinity is valued as ETH since it is based on Ethereum technology. Therefore, players can earn ETH directly from their time and win like they can earn other popular currencies from playing the game. Another case is the Coin Hunt World, where players can explore the neighborhoods for the keys to unlock the available quizzes.
So, when you complete a task or win a conquest, you can earn a bitcoin or ether, a native cryptocurrency of Ethereum. After deciding on your goals, you should understand how to achieve their goals. Or put, what do you have to do to earn these cryptocurrency rewards? In addition, you should understand the time it will take to earn these rewards. While some rewards come after simple daily tasks, others require a considerable investment before reward.
Method of cashing out your coins
After you get your rewards from these play-to-earn games, you can then proceed to convert them to sellable coins. Another peculiar property of these play-to-earn games is that they are built on Polygon and Ethereum technology systems. However, based on the popularity and value of each coin, not all coins sell at the same rate and time. For instance, the NFTs can take some time before one can sell them. However, other in-game assets are more accessible.
So, before you even begin to invest in the game, you should do thorough research. Besides, you can also learn how to utilize these coins for other purposes in the real world. For instance, you can use the coins for trading and buying other assets in the marketplace. As a result, it is an invaluable decision to choose the correct item to go for and what to do with them.