Play to earn games allow users to mine or collect crypto and NFTs that can be sold on the game market.
NFT tokens are unique cryptocurrencies that can be collected on the blockchain. This feature enables them to be used in games as a representative of characters, tools and other tradable items. NFT games have become very popular because of their monetization capabilities. You can sell these unique tokens to others, and even in the Play to Earn system you can earn these tokens. But what is Play to Earn?
By playing the game regularly, each player can earn more items or tokens to sell and generate an income. Some players have even begun to supplement or replace their salaries playing these blockchain games. However, such activity involves risk, as you typically need to put up an initial investment to purchase characters and items to play the game.
What is the meaning of Gamefi or Play to Earn?
Gamefi is one of the new trends that has caused a great deal of controversy in the crypto industry. Unlike traditional online games where you have to pay to win, Play to Earn systems introduce a new model. This concept means providing economic incentives to players to advance the game, which is usually paid in NFT and the more you play, the more you will earn. Some gamers use this type of game as their permanent job!
Play to Earn games have become very popular, especially in low-income countries. Some people in these countries have resorted to these games to earn more money and to cover their living expenses.
How much income do people make from play to earn games?
Play-to-earn games rely on blockchain technology, as you can earn items while playing the games in the form of crypto tokens, non-fungible tokens (NFTs). Many of metaverse games will reward by offering you one of the digital assets above.
It can be challenging to understand that regular players can make an income from a blockchain game. In fact, many people are earning living wages from crypto games like Axie Infinity, especially in developing countries.
How to start a Play to Earn game?
To start Play to Earn games, we must have the following:
Create a wallet: We need a wallet to store cryptocurrencies and game NFTs and send in-game transactions. This wallet must be compatible with the blockchain network on which the game is implemented. Metamask, for example, supports games on Ethereum, Binance Smart China and Paligan.
Purchase Required Items: All Gamefi games are free to download; But many of them ask users to buy items such as characters, native tokens, etc. to start the game. That’s why you should have a wallet ready; For example, MetaMine requires players to download the Metamask wallet, and use the game’s native tokens.