Do you want to make money from your pastime as a gamer? If this is the case, you are not alone! There are many gamers that fantasise of generating a lot of money by playing video games, but not everyone understands how to make this a reality.
However, you may be surprised to hear that there are more gamers than you think who have discovered methods and means to make their goals a reality. These persons are currently making money in the video game business.
PlayToEarn is a groundbreaking website that includes all of the games that use blockchain technology and reward players with gaming cryptocurrency or non-fungible tokens (NFTs). This implies that simply visiting the PlayToEarn website, you may earn money by playing games!
A constantly changing game industry
The gaming business as a whole has changed tremendously during the previous several decades. Gaming technology has advanced dramatically, and gadgets have come and gone (from historical portable gaming devices like Nintendo’s legendary Game Boy to today’s plethora of sophisticated VR systems).
Video games have always been quite popular across the world, particularly among young people. Video games have risen in popularity among a larger audience than ever before, with an increasing number of adults taking up the passion. As a result, the gaming market is anticipated to be worth $178 billion in 2021 (and to exceed $295 billion during the next five years). Blockchain-powered play-to-earn gaming innovations have been a crucial fuel for this predicted increase.
What exactly is ‘play to earn’ gaming?
Play-to-earn (P2E) is an innovative gaming strategy in which players may earn a variety of incentives just by playing specific games.
Why has the gaming business changed more toward NFT games and blockchain games in recent years? Well, more emphasis has been placed on the notion of digital ownership, and it has become clear that most players no longer want to lose out on potentially profitable prospects provided by technology.
Rather than spending hours playing a game and spending real money on in-game items only to lose that money when they quit playing, gamers may now make genuine investments that can later be sold on. This implies that by using the P2E model, gamers may earn enough to survive on, especially since the worldwide COVID-19 epidemic has made it difficult for many to obtain regular employment.
Check out the PlayToEarn website today to start your gaming career by browsing the greatest blockchain games!
The most comprehensive gaming resource
When it comes to gaming, the PlayToEarn website is a terrific resource, with clear, extensive listings of blockchain gaming statistics available to assist you make intelligent gaming investments. PlayToEarn’s extensive library of blockchain games can help you earn bitcoins or NFTs. Gaming cryptocurrencies are cryptocurrencies that are embedded in video games to reward players for certain achievements, whereas NFTs are one-of-a-kind tokens with distinct characteristics.
To make things easier for you, you may filter the massive list of blockchain games by genre, status, device, and more!
In addition to listing all known blockchain games, PlayToEarn has compiled a list of all blockchain game supporting cryptocurrencies and NFTs to assist site visitors, as well as a comprehensive list of virtual world game land constructions for players who want to go a little further.
Essentially, if you want to make money by playing video games, PlayToEarn is the greatest helpful resource to help you accomplish it! By paying close attention to each game’s PlayToEarn score, you may start earning bitcoin and non-fungible tokens in all of your favourite blockchain games!
How can blockchain technology ensure the security of play-to-earn games?
Play-to-earn is not a new concept. Many online games (often MMORPGs) include fiat-based auction houses or secondary marketplaces run by gold growers. The crucial distinction with bitcoin games is that these monies and goods reside on blockchains. A blockchain has various qualities that make it simple to establish ownership, validity, and scarcity.
Consider a blockchain network to be an immutable database. It is kept up via a distributed network of computers (users), each of which has a copy of the blockchain data. This makes it nearly hard for someone to alter, replicate, or destroy blockchain data.
As a result, blockchain games may be designed to avoid fraud or corruption, such as item duplication, gold hacking, and other flaws common in traditional games. The rarity of an in-game item is an important factor in its worth. There is no such thing as copy and paste with blockchain. If an object is one-of-a-kind, it cannot be duplicated. This contributes to the creation of true value for in-game objects.
What is the average money generated by play-to-earn games?
Gaming isn’t normally renowned for financially benefiting the ordinary player. It might be difficult to comprehend how normal participants can profit from a blockchain game. In reality, many people, particularly in underdeveloped nations, make a livable salary via crypto games like Axie Infinity.
Farming can give a more consistent source of income because your profits are proportionate to your abilities and the amount of work you put in. This farming system is widespread in the Philippines, where Axie Infinity has even replaced jobless benefits. Depending on the market price and gameplay, players may earn $200 to $1,000 (USD) every month through cultivating SLP. Farming advantages are often smaller than the option of trading NFT creatures and things, but they are far safer for someone who need a consistent income.
You may even utilise your NFTs (Axies) to breed new ones in games like Axie Infinity. However, it is impossible to determine the value of a newly bred Axie. The highest expensive Axie (Angel) sold as of October 2021 went at $131,970 on November 7, 2020, and is presently advertised for 3,000 ETH. While these figures are appealing, forecasting an average revenue for someone selling NFTs from play-to-earn games is impossible owing to the random nature of the games.
How to Begin Playing Earn-to-Play Games
For new players, each play-to-earn game will have distinct criteria. To store your cryptocurrency and link it to the game, you’ll need a crypto wallet like MetaMask or Binance Chain Wallet.
You may also need to make an initial investment to play, such as assembling a team of characters or purchasing in-game equipment. Entering a digital crypto-economy is seldom free.
Axie Infinity requires an upfront expenditure of roughly $600 to obtain three Axies as of October 2021. While this may be repaid after a few months of playtime, it still provides a barrier to admission.
Another alternative is to hunt for so-called scholarships, which allow you to borrow Axies for free from another player and then split the profits with that person (referred to as the manager). In other words, the player offering the scholarship receives a set proportion of your revenue. After you’ve formed your startup team and performed daily chores and challenges, you’ll start earning SLP, an ERC-20 token that can be traded on Binance and other cryptocurrency exchanges.
Conclusion:
When it comes to making money with cryptocurrency, play-to-earn games are a relatively recent concept. Most new initiatives and ideas require you to be first in line to take benefit of them. However, play-to-earn has enabled gamers to make money. However, you should always exercise caution because many games might be high-risk, unsustainable due to poor tokenomics, or even frauds.
If you wish to learn more about GameFi and play-to-earn, visit the Binance NFT website. There are frequent releases of NFT Mystery Boxes from companies like MOBOX and My Neighbor Alice, all of which include usable NFTs from the gaming industry that can help you get started.
