A Status Update on Play-To-Earn Games

A Status Update on Play-To-Earn Games

“Play-to-win” is a concept we’ve lived through in recent gaming history, but what is this new form of gaming that flips that concept on its head called “play-to-earn” games? Simply put, play-to-earn games are blockchain games that give players the opportunity to play games to collect cryptocurrency and NFTs.

Wait, NFTs? Do You Mean the Twitter Monkeys? Is That What Play-To-Earn Games Are?

Yes and no. Yes, Twitter monkeys, no they’re not exclusively what NFTs and crypto are, but if you want to learn more about the Bored Ape Yacht Club, then you can read more about it here. Blockchain has made strides in non-fungible tokens (NFT) to the point where you can earn real-life money simply by taking the time to play crypto games.

When you play a play-to-earn game, you either gain crypto or non-fungible tokens. The games are basically fun ways of staking cryptocurrency. If you remember the old term “crypto mining,” then think of staking as the same thing except you don’t need nuclear-powered computers to do so, only a crypto wallet (at the very minimum). You use staking to either earn cryptocurrency in a game or generate NFTs, but how secure are they?

Are Play-To-Earn Games Secure?

It all sounds too good to be true, right? You can quit your six-figure job to sit around playing video games for cryptocurrency? There must be a catch. There is no catch. Everything in cryptocurrency games exists in blockchains. Items and currencies in a blockchain are so secure that there’s no way to copy or change the data.

That also means the items and currencies you earn in play-to-earn games have real value since there’s no way to duplicate the data. The to-long-didn’t read version is blockchain secures the value of your in-game stuff and makes it impossible for the bad people to do anything with it. Once it’s yours, it’s yours. Make sense? Cool, now let’s point you in the right direction to get started.

Where Can I Get Started with Play-To-Earn Games?

Now hold on, before you go downloading every play-to-earn game without knowing anything about crypto, blockchain, or NFTs, then at the very least, have a place to store your cryptocurrency. The Motley Fool and Investopedia have decent guides on safe ways to store your crypto.

Illuvium and Axie Infinity are both games that run on the Ethereum Blockchain. The basics of each game involve a degree of grinding, so if you’ve ever played any game ever in the history of forever, then grinding shouldn’t bother you. One example is completing daily quests or battling monsters in Axie Infinity to earn items in the game’s ecosystem that you can place in your crypto wallet or trade in a marketplace protected by blockchain.

How Sustainable Are Play-To-Earn Games?

It’s not too late to get into cryptocurrency, NFTs, blockchain, or any of these terms you probably don’t understand yet (you will), but right now: the blockchain gaming industry is in its infancy. It’s an exciting time to get started for those who feel like they’ve missed out on the original cryptocurrency trend.

If you’re concerned about sustainability, then know this: play-to-earn has always been around, even before NFT games and crypto was a thing. The concept of selling gold and rare in-game items for real-life money has been around since we were smacking dots in RuneScape. Play-to-earn is here to stay, and we’re excited to see the direction it takes from here.

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