We all know someone who has talked to you about P2E, or you might be playing yourself, or maybe you are new to the space and have no idea what it is or stands for? Well, we are here to help.
What Is Play2Earn?
Play2earn is a long-awaited dream for gamers that is finally coming true. Which gamer doesn't want to make money from his hobby? It is now possible thanks to Play2earn. The development, which is primarily driven by blockchain technology, is now a megatrend.
Gaming is one of the most important economic growth drivers. This includes free-to-play games, which allow players to play for no cost. This trend was started by games like Fortnite, PUBG, and mobile games. The developers make money by selling in-game items such as special weapons or outfits. But what exactly is Pla2earn?
Play2earn, as the name implies, means that players can earn money by playing specific games. At first glance, the Play2earn system appears to be a "free-to-play" system. The games are free, but special items such as outfits, weapons, and so on can be unlocked in the game with money. However, at Play2earn, players can earn equipment. Possessions can be "leveled up" and gain value as a result of continued play. The valuable items are then tokenized NFT and stored on the blockchain. As a result, the item cannot be copied or counterfeited.
Furthermore, the owner is clearly defined and well-known by virtue of the wallet that owns this NFT. After that, the NFT can be traded on the open market. Depending on how rare the item is, demand is high and prices rise accordingly.
What Is The History Of Play2Earn Games?
Experts designed play 2 earn games to allow people to enjoy games while earning money. As a result, gamers will play games and have the opportunity to earn attractive incentives that can be turned into real money. In 2019, one of the most notable stories contributing to the industry's growth occurred.
In 2019, the designers of MixMarvel stated that blockchain technology has the potential to transform the game business. They discussed it at a blockchain conference, alerting other fans about prospects in the gaming industry. Yearn's Andre Cronje also popularized the term "GameFi" to describe a meeting of the financial and gaming sectors. Many service providers made this feasible thanks to blockchain technology.
It is appropriate to say that different games have varied gameplays and regulations. While some promote mining for prizes, others need in-game wins to get tokens. Regardless of the game's method of rewarding players, it is unavoidable that they will receive fantastic advice from their gaming.
Will Play2Earn Be Victorious?
Play2earn appears to be on the verge of becoming a megatrend. The model, in which both players and developers profit, is not only unique, but also advantageous. The fact that the games are mostly evolving and not relaunched every year is also a plus. Property in Decentraland does not become worthless overnight, as it does with every Fifa Ultimate team when the new Fifa part is released in September. Also the fact that gamers now have the possibility to own the in-game characters, weapons, skins and other accessories is a complete game changer for the gaming industry. If the development Teams for these Play2Earn games can focus on making these games fun to play and just as attractive as the traditional games we all have been playing then P2E is here to stay for a long time.