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 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.
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.
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