In this article, we’ll be looking at Play-to-Earn Games – what they are, and how you can use them to turn your gaming hours into a real investment.

So you’ve probably seen it all over the internet and even heard about NFT gaming and Play-to-Earn (P2E) Gaming. 

Still, you’re wondering what it is. Is it relevant? Will it be the future today? We’re going to explain all of that. 

What is Play-to-Earn Gaming?

Play-to-Earn Gaming is when you can play games and earn cryptocurrency, and even NFTs, from playing those games. You can download these games on your computer or mobile and then play to earn rewards, whether cryptocurrency or NFTs, that you can trade in for real money.

It incorporates NFTs, which are non-fungible tokens. These NFTs are different from the art NFTs because they can be used in-game. They can either be in the form of playable characters, weapons, equipment, or sometimes even companion pets.

Play-to-Earn gaming saw significant growth as people were stuck inside their houses during the pandemic. The financial rewards of these online blockchain games served as a big incentive for the participants, which is one of the reasons for the P2E industry’s rapid growth expansion. These projects are grouped under GameFi, Gaming + Decentralized Finance (or DeFi).

Some people look for ‘Free-to-Play’ games where you don’t have to spend anything to earn cryptocurrency, even if their daily attempts or earnings are limited. Then others who have enough capital are willing to ‘Pay to Win’ – buy in-game NFTs to have an advantage on gameplay.

Different ways to earn via GameFi are as follows:

Play to earn

In P2E models, the players are rewarded as they play and level up in the game. The players have to play and repeat specific actions in the game to be eligible for earning rewards. As players improve, they will receive prizes in two ways: in-game cryptocurrencies and NFTs.

Trading NFTs

Trading NFTs is another way to earn from P2E games. Players can get NFTs by either buying them directly from the marketplace or by crafting or breeding them. Many game features, such as characters, weaponry, and outfits, can be traded as NFTs. The most inventive utility in-game is that some NFTs have unique use cases.

Staking NFTs or Tokens

GameFi merges DeFi features which, as a result, allows the users to earn income by staking. A few games allow the players to lock up in-game NFTs and crypto, and the user gets yield on these staked assets.

Asset Ownership

In-game virtual items in games like Fortnite and PUBG have been around for a while. Still, they are entirely centralized, and the players can not exchange their in-game assets in the real world and can not make money.

With GameFi, the users can have full ownership and actual control of their in-game assets. GameFi is decentralized, and as a result, the players can buy and sell their NFTs/ assets in the secondary markets.

Scholarship programs (also known as ‘renting’ for a few games)

Scholarships, yield guilds, and rental NFT characters are all methods for allowing new players to try out a game and earn money without having to pay. Scholars contribute their expertise and time to the game in return for playable characters and getting a portion of the earnings.

A scholarship is a mechanism for a group of individuals to organize and share the profits from a game. Scholarships and other forms of play for rent are accessible through social media and conversations such as Discord.

That’s cool, but you’re not going to become instantly wealthy from it (it’ll take some time).

Suppose you decide to be a pay-to-play player and spend more money inside the game to enhance your chances of making more money. In that case, you can pull in some serious cash or currencies every day.

So you’re probably wondering how to earn this money?

• You first need to be involved and have basic knowledge about the crypto space.
• Next, own a crypto wallet (usually MetaMask) that you will connect to the game. Typically, one wallet = one account in most GameFi projects.
• As you play, the rewards are sent to your wallet, which you can then trade for stable coins or even fiat.
• You can put the fiat into your local bank account or cash it out to spend.

What is Roseon doing about P2E Games?

Since this trend is essential and a part of our commitment to our customers, we released our first game, Spin2Win, in January 2022. In Spin2Win, users can redeem 5 roses for 1 ticket to win various partner tokens.

Our second game, Zombie warriors, is now available in the beta version with 50 levels. Users can acquire Roses in PVE and $ROSN through PVP/betting. Goblins Attack will be the third game released in May 2022, and even more upcoming games for the rest of the year.

Try it out for free. See if you like the gameplay, and if you do, maybe you’ll want to invest in NFTs from the upcoming Game Store for additional earning potential.

NFTs – What are they?

Before we jump onto what NFTs are, you need to know the meaning of the term “fungible.” Anything that another similar item can replace is called a “fungible.” For example, currencies are fungible because you can divide $100 into five $20s or two $50s. These will still amount to a total of $100. 

Non-fungible tokens (NFTs), on the other hand, are not interchangeable. Each token represents a unique asset owned by a particular person. The famous painting of Monalisa is a non-fungible item as it can’t be divided into smaller parts or replaced by anything else.

Now, you must have this question “Won’t there be copies of the same NFT, and how is it verified”?

Each NFT contains differentiable information such as who’s the current owner and who was the seller; all of this makes an NFT distinct and easily verifiable. All of the NFT’s information is stored in a unique digital signature that prevents it from being exchanged for or equivalent to another (hence, non-fungible).

Now you know what they are NFTs, so let’s dive in about a few use cases of NFTs:

• Video games: NFTs allow in-game items to be tokenized and easily transferred or exchanged with peer-to-peer marketplaces. Character abilities, appearances, and features are a few examples of in-game items.
• NFT staking is a new option for NFT holders to generate passive income in the crypto world. Staking allows them to lock their assets in DeFi platforms and get rewards without selling their NFT collections.
• NFTs can also be utilized to earn membership in a private tokenized social club.
• NFTs can be traded, bought, and sold like cryptocurrencies on NFT marketplaces like Opensea, Rarible, etc.

NFTs can take different shapes and formats

Even though they have been present since 2014, NFTs are gaining popularity as a popular means to buy and sell digital artwork.

Let’s look at a few examples of NFT types:

1. Art NFTs

“Everydays – The first 5000 days” was a collage of 5,000 distinct photographs created by Beeple over a lengthy period from 2007 to 2020. Although relatively ‘unknown,’ Beeple was already an artist before his $69.3 million NFT sales. 

NFTs are not only for experienced people; in August 2021, a 12-year-old boy earned over 290k pounds by selling Whale Art NFTs.

2. Collectibles / Limited Editions NFTs

Crypto Punks and Bored Ape are some of the well-known collectibles available on OpenSea that reach mainstream news because of the celebrities and major influencers that invest in them. If you wonder what these collections are, they are a cast of 10,000 characters, and each one is unique and can be owned by a single individual.

NFT CryptoPunk #5822 was sold for $24 million. In comparison, Bored Ape #2087 was sold in September 2021 for an unrivaled 769 Ethereum or a $2.3 million sale at the time of the transaction.

Bored Ape Club also serves as your Yacht Club membership card, granting you access to exclusive member advantages.

3. Music NFTs

Singers and rappers are also jumping on the NFT bandwagon.

At the beginning of 2022, rap star Eminem purchased a Bored Ape Yacht NFT for 123.45 Ether worth $452,000. Before this investment, his first NFT collection, ‘Shady Con,’ earned over $1.78 million in sales! The said collection contains figures based on his best-known music videos and even some of Slim Shady’s original beats.

Steve Aoki, the famous dance music DJ, has sold $4.25 million in his “Dream Catcher” debut NFT collection. One ‘hairy NFT’ was even purchased for $888,888.88.

These two are among the biggest and best music NFTs yet!

4. Game NFTs

As we had discussed initially, NFT games allow users to purchase in-game collectibles. Users can sell it to other users within the game or on any NFT marketplace.

You can buy digital pets using NFTs and breed them, make them fight with other pets online, or trade them.

Axie Infinity and My DeFi Pet are a few examples of such NFT games.

5. Meme NFTs

DOGE is almost everywhere these days. But did you know that the original picture that gave rise to the meme was also sold as an NFT for $4Million in 2014? 

Being a ‘meme’ might have brought them some sort of fame back in the day. With the rise of NFT technology, our beloved memes from way back are being sold for millions of dollars.

Will Roseon offers a platform for NFTs?

As part of Roseon’s commitment to its customers, we will soon incorporate NFTs on WonderApp, introducing tools that allow users to show and trade their assets. Once the integration is complete, RoseonPad will then be able to support NFT sales (Initial NFT Offerings).

If you don’t want to miss out, you can follow Roseon’s social media handles to stay up-to-date on the latest news. 

Comparison of Centralized VS Decentralized Launchpads

In a nutshell, both types of launchpads offer project developers a platform to raise funding for their projects and for investors to invest in profitable ones. How it goes about is the difference.

Centralized Launchpads

Coming from its name “centralized,” these types of launchpads are held on centralized exchanges that already serve as trusted trading venues but with the addition of launchpad elements. Centralized Launchpads give both the project and investors a sense of security based on the platform’s proven track record.

However, a high level of security can both be a positive and negative aspect at the same time. The caveat to security is the rigorous KYC process for investors and projects. These types of processes usually deter users that want to stay anonymous.

Since the KYC process often deters anonymous users, one aspect of encouraging them would be the transaction traffic. Centralized Launchpads run on their server technology and do not mainly rely on the blockchain to run their token sales. This gives them freedom from the blockchain traffic and high gas fees that most users compete against on decentralized platforms.

Another unique aspect of Centralized Launchpads is that all transactions on the blockchain are shown on the platform’s centralized address instead of each users’ individual. 

Decentralized Launchpads

Initial DEX Offerings (IDOs) is the latest evolution of token sales. Decentralized Launchpads offers projects a method to raise funds faster, cheaper, and more cost-efficient.

As no centralized figure interaction is necessary for token sales, Decentralized Launchpads rely on smart contracts. To participate in an IDO, users will only need to connect their wallets to the platform. Allocations would often require whitelisting or holding of tokens. On the other hand, Public Round or First-Come, First-Served (FCFS) would only require enough funds to buy the tokens. The major downside to running on blockchain smart contracts is high traffic and volatile gas fees. Users would observe this during IDO, TGE, and listing events.

There are many decentralized launchpads available in any blockchain network, and their strictness and KYC process levels for projects vary. Some platforms may not require approval and review, while others require a quick KYC process.

How Roseon Tackles The Issues

Roseon has committed to becoming a bridge between centralized and decentralized features to ease the crypto journey of its users while maintaining a certain level of comfort, trust, and security. Developing its launchpad as a gateway to CeDeFi, GameFi, and other crypto projects were added to its roadmap last November 2021.

RoseonPad is the mobile-first centralized launchpad first offered in November 2021. Like most centralized platforms, RoseonPad required completing a KYC process after registering on the WonderApp. Roseon has partnered with a third party, Sumsub, to streamline and simplify this process. With its pleasing graphics and user-friendly UI, RoseonPad simplifies the IAO process. Just a few clicks required to participate in the token sale makes it easy even for newcomers to explore the launchpad scene. 

With our metaverse expansion this 2022, Roseon will bring WonderLaunch to its users. Parallel to its mobile and centralized counterpart, WonderLaunch is a web-based community-driven decentralized launchpad. Instead, to participate in the IDOs (Initial DEX Offering), users only need to stake specific $ROSN to the project of their choice. 

Users will now have the freedom to choose between each launchpad type and only need to hold or stake $ROSN to join! We will release details about Roseon World’s updated features soon, so follow our official news channels.