Play-to-Earn: From Zero To NFT Hero
You might love NFTs or hate them, but you’ll have to admit one thing — they are currently on a roll. And according to the recent course of events, they are not going anywhere.
Here’s just a few most recent news for you to get a grip of what’s going on in the NFT world if you missed it by any chance:
- “Bored Ape” NFT sells for over $24M at an auction;
- You can now buy a ticket to a digital exhibition of NFTs worth more than 😱$69M;
- NFTs have currently gained a $32B market cap which continues to grow!🤩
So hopefully, this helped you understand that we should all start taking NFTs more seriously, even though they might look like simple art and games sometimes.
For this reason, we’ve decided to tell you a bit more about one of the most popular branches of NFTs and cover some famous projects.
Play-to-Earn (P2E, Play2Earn, or Play to earn)
Play2Earn is a remarkable business model and a category of NFT games that allow users to get tokens for adding value to the platform. In other words, they let you make money by gaming, and what is that if not a long-forgotten teenage dream?
So how exactly do Play-to-Earn games work?
It’s actually nothing too complicated. As a rule, these games are free-to-play but might require some investments for customized gear or faster character development. However, such extra spendings are not obligatory, and you can finish the game with no financial commitment.
Game mechanics enable gaining rewards that might be used not only within the game but also in the real world (on decentralized exchanges, for instance). After you get your NFT or tokens in the game, you can use them in a built-in marketplace or sell on a DEX.
Besides, you can always HODL your tokens, and some Play2Earn games will reward you for this as well. But in general, the rewards and the ways to get them depend on a particular platform. So let’s take a look at the most popular ones.
Popular NFT games🎲
Dozens of Play2Earn games have been developed so far, but not each of them has succeeded. Yet, the most popular one, Axie Infinity, has already exceeded the $3,8B market cap with the overall Play2Earn market cap around $8,9B.
Axie Infinity
Axie Infinity is a Pokemon-style game with card-based mechanics. It’s pretty addictive and very relaxing for those who are looking up to a cozy evening at home. Two modes, the Adventure and PVP, will help you switch it up and never get bored.
As for the rewards in the game, you get them in the form of a so-called Smooth Love Potion that you receive after each Adventure level or a PVP round.
💎Token: AXS
💰Market cap: $3,8B
DinoX World
This game allows users to get an unforgettable experience raising a dinosaur and interacting with it. You’ll need to take care of your pet, train it, and use it for fighting other creatures on the island.
💎Token: DNXC
💰Market cap: N/A
Kaby Arena
A great tactical multiplayer that might remind you of the good old The Elder Scrolls: Skyrim or other RPG games. Except it also gives you the possibility to get profit with the P2E mechanics.
As usual, the game is completely free to play, but you might want to use in-game tokens to get upgrades, mint NFT items, or speed up the process of gaining experience.
💎Token: KABY
💰Market cap: $9M
Fear Game
Fear is the first blockchain horror ecosystem that, frankly speaking, terrified even us when we check it out. It is the first project in the market to unite four different games, with all others currently being just one game to play. At the moment, the showcase game Whack Your Undead Neighbour has already been released, while others are expected to be launched in the next six months.
💎Token: FEAR
💰Market cap: $5,5M
DeRace
DeRace is a much more peaceful choice — the game is all about horses. Here, you get to breed NFT horses, build your own NFT hippodrome, take part in races, and even bet on them.
What is also interesting, the game is introducing the first cash flow generating ETF through Hord. It will work as a basket of NFTs with horses, where the underlying assets will serve to generate cash flow.
💎Token: DERC
💰Market cap: N/A
Aavegotchi
A very cute ghost hunt developed as a collaboration with the creators of Aave Protocol. These collectibles might have extremely rare traits, which would raise their market price dramatically. Besides, as we’ve mentioned above, they are simply the cutest.
💎Token: GHST
💰Market cap: $94M
Gold Fever
This game is an MMORPG that encourages teamwork and collective efforts. It is a strategic survival game that requires cooperation from all parties and feels much more real compared to CryptoKitties or Aavegotchi. This is a classic video game that is just about to be released, so you’ll have a chance to enjoy the whole experience while earning rewards in tokens.
💎Token: NGL
💰Market cap: N/A
Decentraland
Decentraland is another powerful Play2Earn game that has been popular for a while now. Have you arranged your land and built houses in 3D? How about getting real money for it? Well, this project allows you to do this and much more, having users sell digital land for millions of dollars.
💎Token: MANA
💰Market cap: $1,4B
The future of NFTs🚀
The current trends and tendencies prove that the NFT market is going to be on the rise for a long time. That’s why it might be the right time to join this boom now. Even if you are not a fan of games, earning on NFTs or P2E-based tokens is always a good idea. Maybe even getting a crypto Cluster with such tokens as underlying assets, who knows.
If you’d like to learn more about the possibilities in DeFi and be the first one to learn the news, stay tuned!
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