A Quick Guide to Kickstart Your Play-to-Earn Journey

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For more than fifty years, the world has been fascinated with anything related to home video gaming, computer games, and other tech-driven games. These games create a diversion, something that takes your mind off your worries. In recent years, a new generation of video games is using blockchain technologies like games with Non-Fungible Tokens (NFTs) to reward gamers with cryptocurrency.

Simply put, these play-to-earn games reward participants with digital cash or NFTs. In the past few years, these blockchain-backed games, also known as P2E, have gone mainstream and now a key component of almost every metaverse. Each of its platform boasts of its own form of cryptocurrency to pay online games for their time commitment.

Earning currency that has real-world value while having fun is one of the main reasons why play-to-earn games have become so popular. This is why play-to-earn games like Axie Infinity continue to increase its popularity. Creating NFTs that can become a profitable asset is another. Play-to-earn games which are NFT-powered are revolutionizing the gaming world, with many gamers now earning a living playing titles like Axie Infinity.

With regular games, the only motivation to play is pure enjoyment or entertainment. It is like a one-way relationship: you pay for the game but you will never be able to monetize your playtime, unless you’re a professional esports player or a game streamer with a big following. In contrast, blockchain gaming offers the opportunity to earn real money. Because blockchain technology enables users to transact wherever they are, players can transfer value and be paid to play irrespective of who they are, or where they are in the world.

Pick the right play-to-earn game for you

More and more people are making money playing games in the world of play-to-earn, and if you want to go deeper in these platforms, it is important to be ready and do your own research. When you fully understand how P2E games work, you can start looking around for one, or maybe even several games, that you think will work best for you. There are hundreds of P2E games out there and even more being developed as of this writing. So how will you find the best one for you? The most important step before you decide is to look at the fine print – this means you need to understand how the rewards will be paid out, how you can convert in-game coins to other cryptocurrencies and what you actually want to gain from your experience. Then, decide on your goal: coins, NFTs or both? You know by now that each P2E game offers players different forms of rewards. Most payout rewards are a combination of NFTs and in-game cryptocurrency. These can be traded and sold to other players or external traders through an exchange platform. 

Although rare, players can also earn popular currencies for their play, such as in the game Coin Hunt World, players can explore their neighbourhood for keys that unlock quizzes. Answer correctly, and you are rewarded with bitcoin and ether- the native cryptocurrency of Ethereum. Thus as you get started, you need to understand how you will earn rewards for gameplay, and how much time it will take to earn them. Remember that while some require simple tasks to earn NFTs, others need a bigger investment to get rewarded.

Here are a few more questions that you need to look into as you become an active gamer in P2P platforms:

  • How easy is it to cash out your coins?
  • How much should you spend to get started?
  • How can I find existing and upcoming games?

To recap, while play-to-earn crypto games are profitable, they also come with both an initial monetary investment and a time commitment to master the game and grow your investment. When you prepare doing your research and due diligence, you are ensured to have fun while earning valuable cryptocurrency rewards for your time and effort.