Play-to-earn games are on the biggest trends in the gaming industry today. The fact that you can make money from home by playing a video game has a lot of people excited. For the last few weeks, this topic has continued to elicit many views, with most people wanting to know more about these games. In some counties gamers are making a comfortable living playing gamess.
If you are one of them, this guide is for you. We have put together an informative guide on play-to-earn games that includes how games earn from playing, being a successful player, cashing out rewards, the best play-to-earn games, and many other tips. Read more below;
What Is A Play-To-Earn Game
Play-to-earn games, also referred to as blockchain games or crypto-video games, are video games that are leveraging blockchain technology. The new gaming model enables gamers to earn money while playing various games. The major component that makes play-to-earn games unique from other video games is that gamers get ownership of certain in-game assets, which they can sell on blockchain-based platforms and make legal money. This is after performing certain activities within the gaming platform.
Most play-to-earn games are built on blockchain systems, with Ethereum and Binance Smart Chain being the most widely used. They are designed to take advantage of some of the blockchain benefits such as security, real ownership, and the inability to counterfeit. Proof of real ownership and originality of the in-game assets are the most important component as they enable the player to monetize in-game assets they have earned as their own.
How Gamers Make Money From Play To Earn Games
The concept behind play-to-earn games is to have the gamer perform certain activities within the gaming platform, and the developer rewards them with digital assets that they can convert into real money. The in-game asset must be original, unique, and proves the gamer is the owner to enable them to sell it and make real money. That’s where blockchain comes to authenticate the ownership of the rewarded digital asset(s).
There are several ways gamers are making money from play-to-earn games, and below are the main in the current market:
NFTs (non-fungible tokens) are the hottest thing in today’s crypto market, and people are making thousands of dollars from trading these assets. NFTs are digital assets that carry value and can be converted into real cash on cryptocurrency exchanges. They can be anything from audios, photos, videos, pieces of artwork, memes, and so on. Some play-to-earn game developers reward gamers with NFTs, which gamers can cash out with ease. The uniqueness and rarity of an NFT are elements that determine its value in the market.
Gamers are also making money from earning crypto-collectibles. These in-game assets are more than the typical NFTs. They are cryptographically rare non-fungible assets, which makes them super expensive in the market. The rarity of the crypto collectible will determine how much the gamer will make in the market. The most desirable type of collectables are virtual land, some of which are currently selling for hundreds of thousands of decentralized market places such as OpenSea
Some of the play-to-earn games reward gamers crypto coins which they can easily convert to Fiat in a crypto exchange like Binance. Most of the battle games reward players with cryptocurrencies, and the amount depends on the battles they have won and the number of cups they hold. The crypto coin earned is usually a token native to the game itself, which you can later sway for fiat on exchanges where the token is traded.
What You Need To Play And Earn
Participating in play-to-earn games is not difficult. If you have been playing video games before, you will find these games easy to play. You’ll just need to learn the rules governing the game, and you will be good to go. For starters, there are several things you need to have before starting. They include,
Computer and Smartphone
Most of the current play-to-earn games enable cross-platform support, and thus you can play them on multiple devices. But there are some that can only be played on a computer. That’s why it is recommended you invest in both a computer and a good smartphone. With a smartphone, you can play the game on the go. Almost all crypto-video games can be supported by the available operating systems. A 4GB RAM is recommended and sometimes a graphics card on your computer.
Most play-to-earn games require players to make an initial investment, which could be in the form of tools, characters, or even items. These are crucial components you need to start gaming and earning rewards. If you are a good gamer, you should recover this investment in a short time. With most games built on Ethereum and Binance Smart chain blockchain, you might need some ETH or BNB for your starting capital.
Gaming skill is a must-have. If you are a newbie, make sure that you are trained before you can start gaming. The good news is that there are so many places you can get training, with online platforms being the best place. YouTube tutorials also comes in handy. You can also get training from veteran crypto-gamers. They will give you practical lessons.
Tips To Become Successful In Play-To-Earn Games
Like any other field, the gaming industry can be very tricky. If you are not careful, you can end up making a lot of losses and wasting variable time doing absolutely nothing. Here are 5 tips that will make you a successful gamer in play-to-earn games:
Understand and Learn the Game: The first and most important tip to be a successful play-to-earn game player is understanding the games and learning how to play. As mentioned above, there are many platforms where you can acquire these skills. There are online classes, including YouTube tutorials, that can equip you with the necessary skills. You can also get training from a veteran crypto-video gamer. In addition to this, practicing is recommended to sharpen your skills. Don’t play without the necessary skills.
Research Extensively: Before getting involved in a play-to-earn game, conduct extensive research to understand blockchain technology and how it works. Have a good understanding of cryptocurrencies and various digital assets such as NFTs, crypto-collectibles, and so on. It is important that you understand digital assets’ fluctuations because they will affect your profit levels. Know when to sell and when to hold the assets for better profits.
Analyse the Game First: The most play-to-earn game will require an initial investment. To avoid making unnecessary losses, make sure that you have a good understanding of the specific game before you can invest in it. Do a thorough analysis of the game to see if you can take the involved risks.
Set Goals: Without goals, you will be gaming without direction, and this can be dangerous. You are bound to make costly mistakes along the way and more so many losses. Set targets and stick by them unless a change is necessary. The first goal for a play-to-earn gamer should always be to recover the initial investment.
Invest in Multiple Games: To expand your safety net, invest in multiple play-to-earn games. Don’t put all your investment into a single game because the risk of losing it is very high. Did you know that gaming accounts can be hacked? Now you know!.
Security Matters: Make sure that you have gone for the highest safety protocol. Because of the money and hours invested in the game, you should protect your account from hackers. That’s why security matters.
Top Best Play To Earn Games
Selecting which play-to-earn game to play is a decision that will determine how much money you will be making. At the moment, there are many play-to-earn games in the market but, of course, there are the dominant ones because of the benefits they have over their competitors.
Axie Infinity currently tops the list of the most popular play-to-earn games. The game allows users to make real money by creating NFTs and earning crypto tokens, which they can easily convert to real money. Launched in March 2018, Axie Infinity has so far drawn over $3billion dollars in trading volumes.
Sandbox 3D is also increasingly growing popular with gamers because of its virtual worlds features. Gamers also earn NFTs, which they later sell for real cash. Other popular play-to-earn games include MetaWars,
Splinterlands, MultiPlayer Digital Collectible Trading Card Game.
Thetan Arena, An e-sport multiplier game that is perfect for players who prefer strategy games.
How To Cash Out From Play-To-Earn Game
Play-to-earn games usually reward games with NFTs or tokens or both of them. The gamer will need to go to a secondary market to cash out the rewarded digital assets. To cash crypto tokens, whether it is a token or an NFT, you would need a secondary market for that. Some major gaming projects such as Axie infinity have their tokens listen on exchanges such as Binance, which makes it easy to cash out your earned crypto. For other games you would need to use a decentralized exchange such as Uniswap or PancakeSwap to swap your tokens into Ethereum or BNB, then transfer it to an exchange such as Binance of Coinbase to cash out. As for NFTs, you would need to use an NFT marketplace such as OpenSea or Binance NFT marketplace to sell your NFTs.
The Play-to-earn games model is the next generation of video games. Gamers will never again play for fun, but gaming now will be a career for many. The fact you play from home and make good money is what makes play-to-earn games popular. We hope that this guide can help you start your journey in the play to earn world. We’ll meet you soon in the metaverse.