The gaming industry has always been synonymous with fun. It is growing exponentially since its launch. Web 3.0 has seen tremendous growth in the industry. As of the end of 2019, it was reported that the global gaming market hadvalueto 152 billion dollars This growth means that since the launch of Web 3.0, there has been a consistent rate at which Web 3.0 games have grown and increased acceptance. A lot of money is being made and eventually attract new developers enter the area
Gaming in the past has always been a one-sided relationship. provided that only the developer or game owner receives a financial benefit. while the players are left with only fun and expenses. Despite the introduction of new economic models, over the years players have spent a lot of time playing games. By 2020, the mobile application industryfoundCustomers spent a total of $143 billion. by that number Game apps account for a massive $100 billion. This means that for every dollar spent on Google Play Store (for Android devices) and App Store (for Apple devices), gaming apps account for 70% of the total money. Even with the launch of a new game But it is expected that more than $120 billion will still be spent on mobile games in 2021, a 20 percent increase from the 2020 figure.
This new gameplay is a game to earn money. (play-to-earn) This is no lie that the interest in play-to-earn games was sparked by the global COVID-19 pandemic, and the same can be said for the virtual worlds or “metaverses” at the game. these are working
What is Metaverse?
“Metaverse” is a combination of “meta” which means superior and “univers”, so the Metaverse is a world that transcends the universe. It’s an extraterrestrial place, where in Metaverse you can buy and sell virtual land, your avatar, and even buildings. Most of them use cryptocurrencies. and in these virtual environments People can travel around freely with friends or attend events. and purchase goods and services which basically It’s like doing the same things they can in the real world.
Lockdowns resulting from the global pandemic Make people turn to look at the online world more. and discover that they can still do business and have fun at the same time using their devices from anywhere in the world. Many of the metaverses that exist today are powered by blockchain technology. and in these virtual world transactions Users are required to use cryptocurrencies or NFT tokens, with many of the play-to-earn games we have today also have their own metaverses and cryptocurrencies. Originally used both for making transactions and receiving in-game assets and rewards.
What is a play-to-earn game?
The play-to-earn game model incorporates the concept of an open economy and rewards all users who play and spend time in the gaming ecosystem. fun But that perception is changing as new types of games emerge. These games are not only fun. But it’s also an attractive investment opportunity. and when it comes to investment in the past The industry has seen large venture capital firms investing large sums of money byinvestThe global gaming industry reached $9.6 billion in the 18 months leading up to 2019, and 24 blockchain gaming companies had $476 million in investments in the first half of 2021 alone.
In recent times, play-to-earn games like Axie Infinity and The Sandbox have become popular. And one thing they all have in common is the economy. Take for example the original game The Sims where players can purchase in-game assets with in-game currency. But currency and assets have no real value. Because there is no infrastructure for liquidity in the game. And another original game is World of Warcraft with a marketplace where players can purchase in-game assets and trade characters. But there is no formality that blockchain technology in combination with a play-to-earn model solves all of these problems.
How does play-to-earn work?
To illustrate how a play-to-earn game works, we’ll use Axie Infinity as an example. Axie Infinity is a Pokemon inspired blockchain game developed by Vietnamese developer Sky Mavis. It currently has more than a million daily active users. And what draws so many people is the cute in-game creatures called Axies that users can breed, buy and train these Axies. Axies are also used to fight. The goal of the game is to earn an in-game token called Smooth Love Potion (SLP) where players can breed their Axies with SLP, giving them a greater earning advantage.
Another reason why players want SLP the most is that SLP is a cryptocurrency that can be bought and sold on cryptocurrency exchanges. Top performers can earn up to 1,500 SLP per day, valued at around $250 (due to fluctuations, exchange rates are constantly changing) at the time of writing. Including Axie creatures can also be sold as NFT on the open market. And players can also sell in-game assets such as real estate and flowers as NFTs, so in Axie Infinity’s play-to-earn economy players are rewarded for their time, earning SLP, which can be sold on the web. Crypto Trading and by acquiring Axies and other in-game assets. that can be sold on the open market
other games
In addition to Axie Infinity, other games and platforms are ready to launch or have already been launched, such as
Bloktopia Backed by Polygon, it is a decentralized metaverse that provides an unprecedented virtual experience for the crypto community and a bridge between the virtual and physical worlds. Within the decentralized and open-source world is Metaverse, and there is a protocol for managing the digital value of digital real estate and digital arts, and NFT on the Polygon network will act as a facilitator in this regard. due to affordability and fast transactions
OneTo11 It is a fantasy sports mobile application that aims to provide users with new ways to use their knowledge of sports for their enjoyment and benefit. Games can do what they love most on the platform. They not only have social interactions. but also compete with each other in a transparent and decentralized manner. And this is a play-to-earn platform that allows users to earn money by participating in fantasy sports and other games on the platform.
OneTo11 rewards its customers by giving all players the opportunity to prove themselves and showcase their skills the same way. Players on the OneTo11 platform can earn money without participating in paid tournaments. And this game is different from other play-to-earn games as users can earn money in three ways:
- Win the match: Players must create a fantasy team to participate in the tournament. And they only get paid in 75% of the first place.
- Network Commissions: Players can refer other smartphone users to the OneTo11 platform using a unique code. and when he participates in paid competitions Players will receive 1.5% of the tournament fee.
- Referral Earnings: OneTo11 platform users can earn from their referrals, OneTo11 rewards users with 11 levels of referrals in the network.
Nakamoto Games The goal is to provide everyone with a digital wallet. A wide range of play-to-earn games can be accessed on the platform. with this access They can make huge and sustainable income. The company will be launching an in-house suite where players from all over the world will compete for weekly cash prizes and win huge prizes from these games.
Developers will be able to create and deploy games to earn money on the platform. And they can also control the monetization of their games. This is similar to how you open apps on the Google Play Store or Apple’s App Store.
Immortal Games It is a platform created by a group of talented game developers who are working on amazing game projects. They have developed trading card games (TCG) and collectible card game engine. And now they are developing American Gothic, a classic TCG game unlike any other. In this game, players will play four races in an American Gothic environment. Featuring several unique game modes to choose from, such as “Arena,” “Tournaments,” “Territories,” and “Multiplayer,” Fantasy Defense is a classic tower defense multiplayer game with a unique twist. bigger It is another game that is being developed on the platform.
Immortal Games believes that the gaming industry is revolutionizing with real in-game asset ownership. And they are building in that direction.
TryHards It’s an NFT based shooting game and powered byBlockchain Polygon In Tryhards, players can stake, battle, craft, and upgrade characters and weapons by playing the game. These characters are known as Fanatics and weapons are all NFT where players must collect as many Fanatics as possible to upgrade their gameplay. And because the game is play-to-earn, meaning there is a financial incentive to stake the platform’s original $TRY token and continue playing the game.
last
Although play-to-earn games are just emerging. But they seem to be close to us. and has been popular for a long time where players are allowed to create new digital assets or trade using the game infrastructure. and earn in-game digital currency that can be easily sold as cryptocurrencies and other currencies
In the past, there were many games that contributed to the transformation of the online community. But by increasing the ability to monetize, play-to-earn games make the community more active. So it might be helpful to keep an eye on these play-to-earn projects as they will be beneficial in the long run.