The Working of Play-2-Earn Games
Gaming developers are rapidly embracing the P2E trend, finally bringing real money into play. And the plenty of such titles popping up and taking off, like Gods Unchained, Axie Infinity, and Splinterlands. Play-to-earn games rely on blockchain technology to support their ecosystem and, crucially, let users access in-game tokens that have real value outside the game. This is made possible through digital currencies (also known as cryptocurrencies), decentralized marketplaces, and NFTs. In P2E, every move made inside the game can be rewarded, from taking part in quests or battles, breeding new creatures, and helping solve a community problem.
These elements are featured inside the game in the form of non-fungible tokens (NFTs). The advantage of these NFTs is that they can be exchanged for cryptocurrencies which, in turn, can be traded for hard cash through exchanges. For example, if users want to create a new avatar or breed a new creature, user can mint a new token - and then sell or exchange it in an open marketplace.
As all transactions occur in the blockchain, ownership, and authenticity of in-game digital assets can always be verified. Moreover, using the blockchain makes it easier to move in-game assets between different games and platforms, meaning that the player has endless opportunities to monetize their collection. And there are several ways in which this can take place.