If you’re just getting started with web3, you may not know about “Play to Earn,” a unique kind of gaming in which users have full control over their virtual possessions.
If you can picture Yu-Gi-Oh! or Magic the Gathering (MTG) from your childhood, you’ll have a good idea of how to describe Play to Earn to a beginner. eBay saw the sale of thousands of dollars’ worth of these cards as weary card game players auctioned off their collections to the next generation.
There’s a good reason why they’re called trading card games — trading is essentially the whole point! The thought of spending the day exchanging cards with other fans or selling their custom-made decks to rivals or friends filled each one of them with joy. They took pride in their possessions and sought to add to them in order to create their ideal playing card deck.
The next step was the introduction of digital gaming. To begin with, players began to lose possession of their cards. Cards in the card game Hearthstone, for instance, do not belong to the players and so cannot be exchanged. Since participants do not legitimately own the cards, the digital version of MTG, Magic the Gathering Arena, is identical. Tokens may be bought inside the game and used to represent cards. Since you don’t own the card, you can’t even sell or trade it.
Play-to-earn games aim to disrupt the status quo by giving you 100% control over your virtual possessions. The trading card game Gods Unchained is leading the charge in this direction, and other gaming companies are adapting the idea for massively multiplayer online role-playing games, Virtual Metaverses, and other genres. There is, however, a little issue.
Online Game with the Highest Potential for Financial Gain at the Present Time
When it comes to having a good time on the internet, Chainers is the best NFT game. Consider a world where your imagination has no limits, and you can get lost in immersive gaming while also designing your surroundings and creating your own games.
On the Solana blockchain, 11,111 extraterrestrial NFT avatars coexist as Chainers. Chainers formerly lived in a utopian nation ruled by a totalitarian regime. They have now chosen to leave their terrible surroundings and go to Earth.
On Earth, these pixelated aliens with fascinating designs have developed their own metaverse called Chainverse World. The play-to-earn chances are only available to individuals who own at least one Chainer NFT.
In addition to constructing their own empire inside the metaverse, holders of Chainverse may engage in fascinating activities such as exploring, meeting new people, constructing, and, most importantly, earning rewards! Play games and earn real money with Chainers.
How do Play-to-earn Systems Work, Exactly?
To name a few of my many accomplishments, I have written for the most widely read issue of Play to Earn magazine, been an integral part of a GameFi platform and gaming guild that has generated tens of millions of euros, and backed the biggest Italian blockchain social network. But it’s still quite hard for me to provide a response to this inquiry.
Considering how revolutionary Play to Earn mechanisms are, predicting their long-term impact is challenging.
The first order of business is to identify the shared characteristics of all Play to Earn games. After all, the former YouTube Head of Game joining blockchain gaming startup Polygon Studios suggests there must be some upside.
All of these games include an online trading system akin to the days when you could buy and sell trading cards on eBay, with players able to buy and sell virtual commodities such as characters, weapons, spells, cards, skills, and even genes.
In addition, each operates on its own currency system, which is either a single coin or a pair of tokens. Players may win real money by playing games because of the in-game token, which functions as a reward system. In-game assets are also generally swapped or sold using the in-game token.
Each game also has its own “Governance” cryptocurrency, such as AXS for Axie Infinity, in addition to the in-game token. Voting eligibility and community control over future game development are both facilitated by governance tokens.
Governance authority is assessed by how many “stacked” coins of the token the bearer holds. Once a token has been staked, it cannot be sold for a certain length of time, usually
However, that’s about where the parallels stop. Every game caters to a certain demographic, operates on its own unique currency system, and has its own distinct narrative arc.
Let’s have a look at what the studios are up to right now if you want to get a feel for the current state of the movement.