Everything about Play-to-Earn (P2E)

Introduction 

The NFT and Crypto space has certainly taken the world by storm with P2E as the next big business model. As the name suggests P2E which stands for the Play-to-Earn model is like playing video games but with some monetary return attached to it. Unlike normal gaming consoles, P2E games create the opportunity for players to earn while playing games. Thus, P2E gaming is a source of both revenue and joy. This makes gamers enthusiastic about P2E and has altered the entire gaming industry.

 

Characteristics of Play – To- Earn (P2E) Gaming 

The P2E has the following common characteristics which can also be considered as the benefits of this revenue-generating gaming model.
●    It holds the potential to monetize the game 
●    Require minting capabilities in the application 
●    Such a model is easily marketable
●    It provides better retention and perceived longevity 
●    It contributes to economic stability too

 

Mechanics of Play – To- Earn (P2E) Games

P2E gaming seems completely normal on the surface but in reality, their mechanism varies from normal games. Since they allow players to earn some monetary value by playing games, the question is how P2E makes it possible? The core of P2E revenue – generation is Non- Fungible Tokens (NFTs) as these sorts of games are connected to NFTs. Since NFTs are a purchasable unit of data that is stored on the blockchain and represents digital art. Thus, NFTs are an important factor in the business model of P2E gaming. Even though it is not necessary to own NFT for this purpose but staking an NFT maximizes the earning potential.


As the players play games they are rewarded with the games’ native cryptocurrency. Such crypto tokens are developed using the game’s tokenomics and virtual economy. Asa result, it is automatically awarded to players through smart contracts. On winning games, completing quests, and puzzles, or fulfilling game conditions, players earn revenue through such P2E games. These digital rewards are either converted to cash or reinvested further in digital assets. 


For the players who choose to cash their rewards crypto exchange acts as the prominent interface as this helps them to convert their digital funds into desired fiat currency. On the other side, reinvestment can also be done using a crypto exchange in the same digital asset or a different one. 


Popular Play – To – Earn (P2E) Games In 2022

The market for the best Play – To - Earn games has surged significantly in the recent time. As a result, some of the most popular P2E games that provides best crypto rewards in 2022 are as follows:

Robot Era

Calvaria

Silks

Tamadoge

Battle Infinity

Lucky Block

Decentraland

Axie Infinity

The Sandbox

Star Atlas

Splinterlands

Illuvium

Alien Worlds

Forest Knight

Revv Racing

 

Future of Play – To – Earn (P2E) Games 

It is true that P2E games bring revenue along with pleasure which makes them the popular choice of youngsters today. It is also seen as an investment alternative as in most cases gamers are required to have /own NFTs to start playing games. This creates the chance for generating potential revenue and investment while playing games and the process goes on and on. However, many find it an expensive gaming mechanism too, yet the craze for P2E keeps growing due to the financial returns offered to people with good gaming skills.  Furthermore, the P2E gaming guilds have become popular in countries like India and the Philippines where citizens are looking for extensive opportunities in Web 3.


Final Words

The growing number of P2E gamers creates the scope for more creative gaming ideas. So, if you also plan to get your P2E game interface developed it is wise to contact the expert team of developers at www.esrotlabs.com and be a strong entrant in the Web 3 ecosystem.