Winning money while playing games?
Being financially free thanks to games is the dream of many gamers, how exactly does P2E Games make it possible?
The simple answer to that question is NFTs and in-game rewards. If you don’t know what NFT is, I invite you to read my previous article on the subject here. In a Play-to-earn game most assets, lands or characters that you build, or win, or buy are NFTs that you can sell and gain cryptocurrency from by the intermediate of a marketplace inside the game: a well-known example of that is the Sandbox.
Sandbox is a platform where you can create your own NFT and sell them in the marketplace, you can also buy land and win rewards by playing games.
Since the Play-to-Earn (P2E) are blockchain-based, it allows all players to sell their NFT to other platforms outside the game. And the money they gain in the game can be exchanged against real money or another cryptocurrency, making your investment in the game worthwhile. Indeed, when you buy gear and other items in a normal game, you lose all your investment at the end of the day, if you stop playing that game altogether. With this new type of game, if you plan to stop playing, you can sell all your gear, items, avatars, and even land to someone else, which could get you your investment back and potentially lead to you making a profit.
The most well-known Play-to-earn Game is AXIE infinity: this game has existed since 2018 and some players began to live off the game for their daily and family expenses. This online-game is a good example for the possibility that Play-to-earn games can bring you if you have the skills to be a good player in the game. Especially since one of the NFTs of the game is in the top selling NFTs in the gaming community, with a value of over 1 million USD (300ETH) in 2021.
What do you need to know to get started?
Play to earn has two models: Free to start and play and the other where you need a first investment before starting to play: like for the game AXIE Infinity. Otherwise, the games are all free to play after that, unless you want to buy NFTs in the marketplace of course. But like with any other game, you need to pass a lot of time on the game to truly start seeing the rewards.
At the end of the day, all the Play-to-Earn are still games, and it’s important that you find the one that might interest you the most to start playing. Because playing just for the monetary appeal might not be the most efficient way for you to be involved in your new adventure. Since in games, you need to have a good time in order to continue and evolve inside the universe. Time is everything in the end, and losing it on a game because you’re not taking any pleasure in playing, is not the best way for you to become financially independent thanks to games.
Then, once you chose the game you know will enjoy playing, you might also want to take into account the market capitalization of the token used in the P2E platform, if you’re interested in the monetary value. You can find links to websites providing this information: Here or Here.
After that, you can start to play to your heart’s content and once you win your first NFT, you can either sell it as it is, or improve it enough to make it unique and sell it at a higher price. It all depends on how you want to play and what is your main objective while beginning the game.
If you want more information on the subject, I recommend this other Medium article that goes into deeper details: Here. And for all the gamers or non-gamers that want to try a new adventure in the crypto world because of this article: Happy gaming.
About this article
This article has been written by a student on the Grenoble Ecole de Management’s Advanced Masters in Digital Strategy Management. As part of a content creation assignment, students are given the task of writing articles based on their digital interests and disseminate the articles online. Articles are marked but we make minimal changes to the content. Thanks for reading! James Barisic, Programme Director, MS DSM.
