Table of Contents
Introduction
The worlds of gaming and cryptocurrency have both experienced significant growth and innovation in recent years. One emerging trend that combines these two industries is “play-to-earn” gaming. In play-to-earn games, players have the opportunity to earn rewards by playing and progressing in the game. These rewards can range from in-game items to cryptocurrencies that can be traded on both in-game stores and real-world crypto exchanges.
Understanding Play-To-Earn
Play-to-earn, as the name suggests, is an experience where users play games on decentralized platforms and earn rewards based on their progress in the game. This concept builds on the classic games’ reward system, where players collect coins, skins, and items by playing. However, play-to-earn takes this concept to another level by offering rewards that have value not only within the game but also in the broader crypto ecosystem.
Play-to-earn games are built on the blockchain, creating a decentralized ecosystem where anyone can contribute and add value to the game. Players can join these games to earn cryptocurrencies or in-game items that can be sold for cryptocurrencies.
The rise of play-to-earn games aligns with the advancements in the metaverse, where users interact in a virtual world to exercise their creativity and monetization abilities, similar to the principles of Web 3.0.
Crypto Play-To-Earn Games
Crypto play-to-earn games have gained popularity as they offer players the opportunity to enjoy various games while earning money in the lucrative crypto market. There are two main types of play-to-earn games: those that use native tokens and those that use established cryptocurrencies.
Native Tokens
Some blockchain and metaverse companies develop their own play-to-earn games using their native tokens as the central payment system within the ecosystem. Players can earn these tokens by playing the game and use them to make in-game purchases or explore other options within the blockchain, such as buying digital assets, storing, staking, or exchanging them for other cryptocurrencies.
Examples of play-to-earn games that use native tokens include Decentraland (MANA) and The Sandbox (SAND). These games empower users to contribute, create experiences, and share them within the decentralized community.
Established Cryptocurrencies
Another approach is to develop play-to-earn games using existing cryptocurrencies and tokens as a reward system. Players can earn well-known cryptocurrencies like Bitcoin, Ethereum, and Litecoin while playing these games. This provides a sense of trust and familiarity, as these cryptocurrencies have real-world value and can be traded on financial markets.
One of the earliest examples of a virtual world or “metaverse” that incorporates play-to-earn mechanics is Second Life, which was created in 2003.
Crypto Games Vs Traditional Video Games
While both play-to-earn games and traditional video games offer cutting-edge technology and engaging gameplay, there are some key differences between the two.
Ownership and Content Sharing
Play-to-earn games are built on the blockchain, creating an open-world experience where all users can participate, play, contribute, and add value to the game. Players can create their own experiences within these blockchain games and monetize them by charging usage fees.
In contrast, traditional video games are limited to playing and earning in-game assets that can only be sold within the game. The game developers retain ownership and responsibility for developing and updating the game.
Value and Use Cases
The crypto market is gaining popularity, and many cryptocurrencies have seen significant increases in price and adoption. This opens up extended use cases for the in-game items collected in play-to-earn games, as these items can be traded and sold within and outside of the game.
Top Play-To-Earn Crypto Games
There are numerous play-to-earn games available, with new ones constantly being developed. Here are some of the top play-to-earn games you can try today:
The Sandbox
The Sandbox is one of the oldest play-to-earn blockchain games. Originally created in 2012 as a mobile and PC game, it was later developed for the metaverse and blockchain gaming in 2021. The Sandbox is a free-to-play game that offers a large map where users can create and monetize various experiences, including games, museums, cinemas, galleries, exhibitions, and more.
Axie Infinity
Axie Infinity is a classic play-to-earn game that revolves around breeding and raising digital pets known as Axies. Players can develop different skills for their Axies and purchase in-game assets using non-fungible tokens (NFTs).
Decentraland
Decentraland is one of the most popular play-to-earn virtual worlds, similar to The Sandbox. It offers expanded opportunities for creating avatars, digital assets, digital property, and events that can be monetized within the decentralized world.
Wreck League
Wreck League is a play-to-earn fighting game where players compete in one-on-one fights and earn rewards and items that can be added to their in-game characters. This game was recently launched in September 2023 and has high expectations in the market.
Gala Games
Gala Games is a free-to-play platform that offers several crypto and NFT games where players can earn items and collectibles verified on the blockchain. These items can be traded within the virtual gaming community.
Conclusion
Play-to-earn games represent a new wave of the gaming industry, combining the excitement of gaming with the potential for earning rewards in the decentralized world. These games are built on the blockchain, allowing players to earn in-game assets and trade them both on-chain and off-chain. Whether through native tokens or established cryptocurrencies, play-to-earn games offer players the ultimate freedom to create, monetize, and participate in the decentralized gaming community.
Remember, if you are interested in exploring the world of play-to-earn gaming, make sure to do your research and choose reputable platforms and games that align with your interests and goals. Happy gaming and earning!
