Play-to-earn: how users began to make money on games

Stan Peterson
November 17, 2021
Expertise : Web3 Projects, ICOs, DeFi, and NFTs.
A USA-based blockchain enthusiast deeply involved in diverse crypto projects. With a knack for insightful reviews, I navigate the dynamic crypto landscape, offering a unique perspective on ICOs, DeFi, and NFTs. Let's connect and explore the limitless possibilities of digital transformation! Reach me out @ : [email protected]
Read full bio
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Shooters, stealth games, platformers, fighting games — to this day, the game industry has grown to incredible proportions. The film industry writers are working on the plots, real actors playing the characters, and the staff of artists and designers to work on large-scale projects is not limited to three dozen people.

More than ten years ago, the game industry went beyond the sphere of entertainment and became a «competition» — cyberathlete who occupied computer clubs and home computers today earn millions thanks to their skills. Coaches, players, and fans began to appear — this sphere has taken its own life, despite the fact that until recently children were not allowed to spend free hours on Dota or CS:GO, referring to the fact that this activity was not beneficial.

Today, there is a new industry — games on blockchain, or P2E games. Digital technologies have long allowed the use of cryptocurrency as a means of payment (though this is not legal in all countries in terms of the law). But cryptocurrency mining is a process that requires serious investment, so not everyone can do it.

Blockchain games allow anyone to earn coins or tokens for certain actions. For example, in Axie Infiinty users can breed cute creatures — buy them, train them, and perform tasks with the help of pets. As a result, they receive small potions — SLP — acting as a cryptocurrency.

Another one example is CryptoKitties, a game using NFT. Here users buy, breed and sell digital cats for Ethereum. The higher the rarity level of an animal, the more expensive it is.

Another way to earn money from P2E games is betting. The Dexsport project allows players to bet on a player’s victory or loss, behavior and other actions. This is a revolutionary way of interacting with blockchain games, and there are no alternatives.

You can join the Dexsport project by
https://dexsport.io/ 

Advertisement
coingape google news

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Newsletter
Your crypto brief.
Delivered every day.
  • Insights that move markets
  • 100,000 active subscribers
By signing-up you agree to our Terms and Conditions and Privacy Policy.
About Author
About Author
A USA-based blockchain enthusiast deeply involved in diverse crypto projects. With a knack for insightful reviews, I navigate the dynamic crypto landscape, offering a unique perspective on ICOs, DeFi, and NFTs. Let's connect and explore the limitless possibilities of digital transformation! Reach me out @ : [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.