The Ultimate Guide: Play To Earn
The Play to Earn trend has been around for a few years now, with the first game being released in 2017. It’s a new way of getting players to engage in your games.
In this post, we will discuss this trend’s origins, what it is and how it works. We covered some helpful info about The Play to Earn by providing some useful information about it.
Table of Contents
What is Play to Earn
Play to earn is a new type of gaming. It is a gamification of work.
The games are designed to reward players with cryptocurrency for completing tasks, like watching videos or completing surveys.
The idea behind this concept is that players can earn cryptocurrency without having to invest any money or time into the game.
What was the first game that was released as a Play to Earn?
As we mentioned above, the first game that was released as a Play to Earn title was “CryptoCities“. The idea behind CryptoCities is that players can buy land and build towns or cities on their newly acquired land. They can then earn money by attracting other players who visit their city and purchase items from shops.
CryptoCities is free to enter, players don’t need to pay, instead of paying for the game upfront, players can play for free but if they want to unlock more content or get more expensive items, they have to pay in a different currency.
What was the second game that was released as a Play to Earn?
The second game that was released as a Play to Earn title was “Fractured Space“. The premise of Fractured Space is that players are tasked with building and managing their space station. They can collect resources, build more stations, and create ships that they can place on the map. By finishing missions and levelling up, players can increase their in-game currency and unlock new tech.
Fractured Space received mixed reviews. PC Gamer praised the crafting system, while GameSpot gave the graphics mixed reviews, stating that they are sometimes too low-poly and that ships still have loading screens.
Why is Play to Earn important for gamers?
Gamers see this as extraordinary investment returns and the potential for profit, you’d be foolish not to try it. For instance, no centralized platform like Google or Facebook rewards users with valuable digital assets to use within or outside of their premises. Play-to-earn, as an offer from blockchain games with all of their customizable features and content, can motivate users to play these games for a longer period. This is because users do not need to check their pending subscriptions every time. They can simply get the rewards once they keep playing. Moreover, online games will be a new layer of reality in which people can meet up in person as well as virtually. In this new layer of reality, gamers will have a sense of presence that we have never felt before.
How Gamers Earn Cryptocurrency?
Play-to-earn games, or “NFTs”, are a relatively new way to earn cryptocurrency. The game developer sets up a game that can be played for free and then they create a digital asset within the game that can be traded on a blockchain. It’s the way for gamers to play to earn crypto games.
What Is The First Company to Make Play to Earn Cryptocurrency Popular?
The first company to make this popular was CryptoKitties. This company created an online cat breeding game where users could purchase cats with ether and breed them with other cats to create new digital assets. These assets were tradable on the Ethereum blockchain and were sold for high prices at times because of their rarity. and limited supply. Other companies that have created games with NFTs include Decentraland, CryptoPets, and IOTA. Also, the Decentraland property “Unreal Land” is made up of 3D land and buildings that the user can buy, rent or use for their digital life.
How to create a crypto wallet?
We are not the expert so we find a nice guide that contains all the steps needed to create a wallet that is compatible with the Metaverse Protocol. Read now: How to Set Up a Basic Cryptocurrency Wallet They explained how to create a cold wallet, which is a cryptocurrency wallet available for all types of cryptocurrencies.
Future of Play To Earn Market
Are play-to-earn games the future of the gaming industry? We say loudly Yes. Let’s take a closer look at the reason. We need to find out why the plat to earn gaming market will revolutionize the gaming industry.
New concept –Metaverse Marketplace. It is a peer-to-peer platform where users can buy and sell goods and services from each other. It is a blockchain-powered platform that makes it possible for users to monetize their digital assets.
Business enterprises started to interact with customers via augmented reality or virtual reality. This will make it possible for customers to enter an online world. The online game industry is one of the keys for enterprises to reach buyers and sellers easily. Consumers can interact and purchase without the need of going through any third party in the metaverse.
Business possibilities are endless. If you have a strong imagination, you can find many ways to reach and promote the products you have. Entrepreneurs who are considering business possibilities in this sector should take time to understand and play as a gamer for a while. These will help them find out new opportunities that exist for startups and established businesses alike. Watch some recent movies like Ready Player One about the online game industry, you will understand the possibilities better.
Online games offer virtual spaces where people can be present and interact with one another. It is a world of virtual reality where people can share information, communicate, and interact with each other. While many gamers and enterprises are already getting benefits from this sector, they still take some time to fully understand the new updates, benefits, trends, laws, and drawbacks of the play-to-earn ecosystem. If they care about strategic planning, it is essential to keep up with industry trends.
Play-to-earn gaming also shows the potential of blockchain technology in general. Every gamer wants a platform where they do not have to wait for rewards to be released and wasted. Play-to-earn is combined with blockchain’s immutable record-keeping system.