How to Use Play to Earn Games to Get Crypto and NFTs?
Play-to-earn is a new model in decentralized space that allows gamers to play games and sell their content to increase the ownership and value of their in-game assets.
Promoting the idea of a gaming economy, Play to Earn encourages consumers to play, create and sell NFTs on NFT marketplaces.
Most play-to-earn games also offer crypto rewards that can fire for passive income. It ensures that active players are financially rewarded for their engagements.
The decentralized gaming space is overgrowing as the world seeks more ways to take advantage of blockchain technology. The latest trend is the Play to earn model, which introduces a user-driven economy designed for gaming enthusiasts that bridge the gap between virtual space and reality.
Play to Earn gamers own their assets and add value through your specific in-game activities such as creations, unlocking upgrades, purchasing items, and more. By participating in the game economy, players create value for the community and the developers.
Rewards for game-earning activities are simple and range from in-game assets such as tools and weapons.
Play-to-Earn: How Does It Work?
The decentralized world emphasizes two ways to create Play-to-Earn liquidity — buying and selling NFTs within the game or playing to earn cryptocurrency.
In the first case, players make and sell unique NFT items to other players in the market for crypto or fiat. Otherwise, players are rewarded with in-game crypto assets that they can use to buy more game content or exchange fiat and other digital currencies.
Buying & Selling NFTs
The basic concept behind the play-to-earn model is creating, buying, and selling assets in the game as NFTs. The most famous examples would be NFT-based games that allow users to buy, sell and trade NFT-assembled items on gaming markets, such as manufactured weapons, cosmetic items, and power-up coatings.
NFTDUEL is a perfect example of an NFT-based online game, where players can raise or buy NFTDUEL magical creatures to fight other players and win prizes.
Each card is also a unique NFT which means that every card is identical, and its ownership is tracked separately on the blockchain. Players can also sell their NFT trading cards on the XANALIA Marketplace and reap profits, creating a user-driven marketplace economy for collectors and players.
Benefits of Play-to-Earn Gaming Model
Play to Earn Games is an exciting application of NFT technology, allowing players to gain 100% ownership of their in-game NFT assets. Like traditional gaming, players can use their in-game purchases for breeding new creatures, increasing levels, and taking advantage of PVP combat.
However, unlike conventional gaming, as players upgrade their character, they can sell and trade their in-game assets on the market as NFTs. The more unique and powerful their characters are — the more profits they can make.
A New Open Gaming Economy
Play-to-earn games create an open economy, ensuring that players who value the game are rewarded either through in-game rewards or financially cryptocurrencies.
As the popularity of NFT-based games increases, so will the value of NFT-based game characters and assets, encouraging players to actively engage with the game in exchange for more attractive prizes.
Converting Crypto Enthusiasts into NFT Gamers
The play-to-earn model has also attracted crypto enthusiasts to enter the NFT gaming space, increasing demand and liquidity on these play-to-earn gaming platforms.
By converting NFT gaming projects and traditional video game companies into NFT based games, we seek to expand the NFT gaming space and welcome more users to embark on their NFT gaming journey.