What are play-to-earn crypto games?
Play-to-earn crypto games offer different kinds of in-game goods and items that have real-world value. They do this by using blockchain technologies, cryptocurrencies, and non-fungible tokens (NFTs).
In other words, players can earn cryptocurrencies or NFTs while playing the game and exchange them for fiat currencies like US dollars or Euros. Some of these games are completely free to play, while others require certain initial investments.
Pros
- A lot of room for good trades and investments using non-fungible tokens.
- Many play-to-earn games are free to play and allow you to earn with your time and gaming skills.
- These games let players collect digital assets that can earn them a hefty profit.
- Players can actually claim ownership of their digital assets.
- Since these games run on blockchain technologies, there is far less chance of being scammed or of someone stealing your digital assets.
Cons
- Tokenizing digital assets requires a lot of computing power and energy, which impacts the global environment.
- Not all NFTs will achieve their expected value.
- Learning about the market, games, and the whole industry requires time and effort.
Can you make money with P2E games, and how much?
Play-to-earn games are legit, and they have made a lot of people rich in recent years. However, concluding that every player earns this much would be an overstatement. If we look at the numbers of Axie Infinity, one of the most popular P2E games today, we can see that players earn around $1,700 per month on average.
What’s encouraging is that most players exchange their earnings in the game for fiat currencies, indicating that this is actually a legitimate earning method.
Conclusion
Even though P2E NFT games are relatively new, many people have joined in on the action. What’s really encouraging is that a lot of them don’t have any prior knowledge about cryptocurrencies and have a variety of different backgrounds.
The solid returns, safety mechanisms, opportunities, and fun gameplay have made these games popular. We can expect this popularity to grow even further in the future.
