How play to earn games are different

With over 400 million players, India boasts the world’s largest mobile gaming population. Desktop computers and gaming consoles such as PlayStations and Xboxes are also popular platforms. Until now, the most popular and successful play to earn games, such as Call of Duty, Among Us, and Grand Theft Auto, have all employed a centralized method, in which the game’s designer controls it via administrators and keeps all game data on a single server.

With the rise of blockchain technology, decentralized gaming is gaining traction throughout the globe, with blockchain-based play to earn games like Axie Infinity (AXS), The Sandbox (SAND), and Decentraland (MANA) leading the way.

In a blockchain-based game, players have complete control over their digital identities, accounts, and assets. Individuals also have total discretion over how they interact with the game’s inherent micro-economies, exchanging and encashing assets whenever they like. Learn more how play to earn games evolved.

A centralized game, on the other hand, stores all player items, collectibles, and currency in the game maker’s database, and so is owned and managed by a single business.

Furthermore, centralized game servers are vulnerable to failure, infiltration, shutdown, and manipulation by developers/admins, and they don’t provide users access to game mechanisms.

Why blockchain-based play to earn games are unique.

In a blockchain game, players have genuine ownership of in-game assets. Non-fungible tokens (NFTs) are often used to represent these assets, and they act as proof of ownership for participants.

In-game equipment, wearables, character skins, and cards are all examples of assets that may be linked to NFTs and stored on a blockchain-based game’s distributed network.

Micro-economies or decentralized marketplaces emerge inside the game as a result of players’ capacity to freely possess and trade their in-game assets.

Furthermore, since blockchains are decentralized, the protocol eliminates the requirement for player-trader trust and/or a mediator or third party to regulate markets. Furthermore, blockchains facilitate value transfer and payment between users through cryptocurrencies, which is true for micro-economies in blockchain-based play to earn games.

Through NFTs (for digital assets) and crypto, blockchain technology may potentially allow players to move and use assets across other play to earn games to make money or exchange them on other gaming markets (for value transfer).

Players may be able to vote for or against game updates or alterations, depending on how the game is implemented.

Furthermore, since distributed networks lack a single point of failure, the distributed nature of blockchain prevents hackers from interfering with/attacking the game. A blockchain-based game may also continue to run even if its designers quit or move.

While these features favour blockchain-based earning play to earn games over their centralised counterparts, distributed ledger technology does have certain disadvantages.

In terms of network speed and scalability, blockchains are slower than centralised networks, which has an impact on in-game transactions. Furthermore, since blockchain technology is still in its infancy, play to earn games based on it are still primitive, low-budget, and unpopular.

How play to earn games are different

A prominent blockchain-based game is Axie Infinity (AXS)

Sky Mavis built Axie Infinity as a fun approach to teach the gaming community about cryptocurrencies. It’s a game where players assemble, battle, and use Axies to earn tokens that are paid out at regular times.

The Ethereum-based currency AXS (Axie Infinity Shards) and SLP are used in the game (Smooth Love Potion). NFTs and crypto allow users to gain property rights on its network.

Axie Infinity also has a vibrant community and scholarship program in place to support and educate new players. In October 2021, Sky Mavis received $152 million from Andreessen Horowitz, Mark Cuban, and others to expand Axie Infinity.

Sandbox (SAND)

Players are given the means to construct their own nonlinear experience in the Sandbox, a virtual world game. The Sandbox, which was created by Pixowl and acquired by Animoca Brands, uses SAND to power its in-game economy.

Players may use programs to construct digital avatars and produce in-game assets, convert them to NFTs, and trade/sell them. As a result, The Sandbox is an earn-to-play game. The Sandbox also enables landowners to sell virtual property inside the game, allowing them to build digital experiences on the platform.

In November 2021, the game raised $93 million in a Series B funding round led by SoftBank’s Vision Two Fund and a few other investors.

Decentraland as well as (MANA)

Decentraland is a virtual environment where individuals may own property, host virtual events, produce and share information, and engage in a wide range of social activities.

Decentraland uses blockchain technology to allow players to own their digital identities and in-game assets, similar to Axie Infinity, The Sandbox, and other blockchain-based play to earn games.

How play to earn games are different

Decentraland is a pioneer in the field of blockchain-based play to earn games, and its economy is built on MANA, an Ethereum standard token. Because of LAND, the game’s virtual real estate NFT, the game’s popularity has grown.

Decentraland raised $26 million in an ICO in 2017 and seems to have received further financing from Digital Currency Group, Kenetic Capital, FBG Capital, CoinFund, and Hashed in undefined amounts.

Gaming and the Metaverse

Other significant ventures in the area include the virtual reality game Bloktopia, the NFT platform Enjin, the role-playing game Ilivium, and the gaming platform Gala, in addition to Axie Infinity, The Sandbox, and Decentraland.

The top gaming crypto tokens have a market value of $21 billion, which is a drop in the bucket compared to the top crypto currencies like Bitcoin (almost $1 trillion) and Ethereum ($536 billion).

With the rising popularity of the Metaverse concept – a shared, gamified, three-dimensional virtual world in which people can interact – the blockchain-based play to earn model of play to earn games may play a big role in motivating Metaverse platform adoption.

Decentralized, blockchain-based platforms, as well as centralised digital behemoths like Meta (formerly Facebook), Microsoft, and others exploring in the space, are enthusiastic about the notion. In addition, play to earn games like Fortnite and Roblox that need concentrated play to generate money have been producing the most metaverse-like experiences.

Conclusion

Esports players may make money by participating in NFTs. It’s astonishing because, while you’re enjoying the thrill of the game, you’re also hoping for a profit when you lose interest in the game items and wish to replace them with something more appealing.

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How play to earn games evolved

Trading cryptocurrencies has become a popular option for many people to make money these days, particularly with the advent of play to earn games. On CoinGecko, a cryptocurrency review site, you’ll find a list of 9,900 digital tokens, the bulk of which were created in the previous five years. Cryptocurrency trading has helped a lot of people.

However, since the trend is accelerating, trading is no longer the only way to profit from cryptocurrencies. Playing mobile play to earn games is another way to gain money. The more you play, the better you get and, perhaps, the more money you earn.

As seen by the cost of its digital tokens, Axie Infinity (Axie) is now one of the most popular play to earn games in town. A quick scan of the internet shows that Axie Infinity Shards (AXS), the game developer’s token used to raise funds to create Axie, had risen 176 percent to US$138 as of Oct 5 from about US$50 two weeks ago.

Because it allows holders to vote on significant changes made to the game by the designer, AXS is frequently referred to as the project token. Its worth rises in direct proportion to its popularity and potential in the future. Click here to get everything you need to know about play to earn games.

Smooth Love Potion (SLP), the in-game token obtained by Axie players by killing monsters and battling other players, has been on a wild ride since April. It jumped 929 percent to 36 cents per token in May, up from 3.5 cents only two weeks earlier. On October 5, after a series of wild swings, the dust settled at 8.9 US cents per token.

ASX and SLP may be traded on the market via unregulated decentralised exchanges that use smart contracts to match and execute trades automatically online.

Ee Wui Yang, a crypto entrepreneur and Axie veteran, estimates that playing Axie for two hours a day may make between RM1,000 and RM2,000 per month.

“It used to be a ‘grindy’ game” (involving a lot of repetitive actions to level up or earn cryptocurrency). A gamer must spend six to seven hours every day to earn a thousand or two [ringgit]. However, now that the developer has improved the game, players just need to play for around two hours per day, comparable to other play to earn games,” he says.

The game’s monthly revenues are determined by factors such as the price of the SLP and the exchange rate of a fiat currency against the US dollar. This is due to the fact that an Axie player would need to swap his SLP for stablecoins such as Tether (USDT), which are commonly backed by the US dollar, before converting them to fiat currency.

“For example, since one US dollar is more valuable in the Philippines than in Malaysia, players in the Philippines would play similarly to play to earn games more enticing than Malaysians.” Singaporeans would undoubtedly find it less enticing,” he claims.

How play to earn games evolved

What’s the best way to start the game?

It’s vital to understand non-fungible tokens before getting into Axie and other similar play to earn games (NFTs).

Simply said, an NFT is a non-transferable digital token with its own identity. As a result, an NFT may be used to represent a range of different products, such as artwork, with ownership traceable via a blockchain record.

The July sale of the Doge to the Moon NFT for 36.3 Ether in an online auction is a well-known local application (equivalent to RM325,000 then). The artwork was created by Red Hong Yi, a Malaysian contemporary artist best known for her work on the cover of TIME magazine’s April issue.

A player must purchase three NFTs from the Axie Marketplace before starting the game. Each token represents an in-game monster with its own state and abilities that a player may use to win battles.

The Axie NFT is priced in Ether, which means that in order to buy monsters online, a user must first buy Ether on an exchange and then store it in the Ronin Wallet, an unique cryptocurrency wallet.

Naturally, the game’s entry barriers raise as demand for Axie NFTs (or monsters) grows and the price of Ether rises. On the Axie Marketplace, a monster costs at least 0.04 Ether (about US$140, RM585) as of October 6. There are now approximately 335,000 monsters for sale on the marketplace.

How play to earn games evolved

Axie players may make money by selling their monsters at a profit when demand is high, in addition to earning SLP from in-game battle.

According to Jason Kwong, CEO of NFT art business Imperium Universe, Axie players may also generate money by breeding new monsters in the game. “Each monster you buy is divided into one of nine different clusters, each with its own set of attributes. “By coupling two animals from different clusters, a player may construct a new monster with unique traits,” he says.

In the realms of traditional and non-traditional gaming, this is not a new concept. For example, there are currently horse-racing play to earn games where players may buy an NFT representing a certain kind of horse and enter it in a race.

“You may also buy an NFT for a certain breed of horse and couple it with another horse of a different breed.” Some players may even pay you for breeding with your horse. In Axie, it’s the same. Additional NFT play to earn games of this kind, I believe, will be published,” Kwong says.

Axie has started allowing players to buy land that may be used as a base of operations for their monsters as well as a tactical edge in battle. A 4.25 percent charge is applied to each NFT sold in the game.

The ultimate objective is to create a metaverse, which is a virtual environment inside an online game where individuals may earn, spend, and live in cryptocurrency. Kwong continues, “It’s almost like a parallel reality to the one we live in.”

Blockchain and non-volatile memory are at the heart of this project.

Axie, a game created by Sky Mavis in Vietnam, used to be a game that could be played by nearly anybody and allowed them to earn cryptocurrency. It was usually assumed that it was a part-time employment meant to augment one’s income.

“In certain areas in the Philippines, there were even film footage showing groups of people playing it collaboratively,” Kwong adds.

Since Axie’s debut in May, a slew of new players has rushed to the game, pushing up the price of Axie NFTs and decreasing the barrier to entrance. There are also more professional players in the game with higher knowledge and talents. In summary, making money as an Axie player in the present day has become considerably more difficult.

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