PLAY-TO-EARN PT.2
Let’s do some game-talk
Coo! It’s me, Crypto Owl. How's your Saturday? Since I enjoyed talking about in-game NFTs last weekend, I thought, why not talk about it more? After a busy week, you deserve to get some chill content.
On Today’s Menu:
🕛 Estimated reading time: 2 minutes & 47 seconds
🥯️ DELICIOUS BAGEL: More about Play-to-earn
🍒 SOME BERRIES: This week’s newsletters, in case you’ve missed it
☕️ CUP OF CAPPUCCINO
MORE ABOUT PLAY-TO-EARN
Why do play-to-earn games matter?
Well, we all know that play-to-earn games are one of the gates into the WEB3: these games actually onboard millions of people onto the WEB3, and it's just a beginning. It will probably be billions of people in the near future.
Play-to-earn games kinda creates the base for the Metaverse and makes a transition from typical computer games to the next level games as you can make money in the virtual world. And that also adds a lot of value to the going-to-be economy in the Metaverse.
What is the problem about play-to-earn?
Firstly, there is no governance, ownership or alignment (again, because it is based on Metaverse, which itself is based on blockchain, and blockchain, as you know, is about freedom from third parties).
Secondly, gamers play A LOT. They spend hours and hours on that. And that's not only about the time. It's about money too, because in most current cases first you have to invest yourself to play such games and that can be very expensive.
Is there a solution for these problems?
Yes, it is.
Even though players spend tons of time and money for these games, they get some good things out of it too. For example, players receive transferable assets (meaning, you can cash-out your in-game assets, because usually they’re NFTs); or, players get property rights, because of, again, NFTs (information about ownership is written on the blockchain). They also get abilities like participating in governance (voting for the game rules, any fixes or changes), build and monetize assets and so on.
Play-to-earn games are also useful for developers. Why?
Because developers can make new business models, they have the ability to align with players, and also to make new ways to retain them. Plus, this sphere evolves real fast, which is good for making user-generated content.
What are my top 5 most favorite games in this field?
Axie Infinity, which is a card-based battle-game with characters that are itself NFTs (monsters Axies);
Decentraland - a virtual world created and owned by its users;
The Sandbox - a game where players can monetize their assets while creating communities;
Gods Unchained - ultimate digital trading card game;
Star Atlas - a game known for its outstanding effects and graphics (you are playing in a space, and it is very cool);
…. And these are just a few examples.
As a player, what opportunities can you have?
Let’s bullet-point those.
Buy and sell lands and other assets in the virtual worlds
Receive royalties and other rewards for playing and from secondary sales
Stake in-game assets
Earn from games
Collect assets
Breed in-game assets and form new, unique NFTs
Lend in-game assets for other players and make money
Create content for such games and onboard new players
Build games for already existing communities
If you a pro, you can even transfer traditional games to play-to-earn models
…..
What risks can you face?
Well, you always have to do your own research. Because there is a lot to take (lots of info, lots of games, lots of FOMO), so you can definitely face misunderstanding, and in the worst case scenario, lose your money for not knowing enough.
Play-to-earn games are complexive. Confusion can come from unclear economic policy in the game, or some bad design decisions. Basically your assets can be hurt.
You can never be sure about avoiding rug-pulls. They’re quite common in the crypto world, and play-to-earn games are not an exception here. Game developers can fool users by taking their money and then just run away.
What predictions are for the play-to-earn games?
No one can predict the future, right? Especially, when we are talking about crypto.
But, I’ll give you some scenarios of what could happen:
Play-to-earn games will create and build up complexive economy in the Metaverse
Learn-to-earn models will become more and more common. One great example is Learnoverse - you can check it out!
More new game studios might appear
Traditional games and play-to-earn games might crossover as well as their economies
Games will be developing way more faster
We will see more 3A categories games in the field (for example, Illuvium)
So, we will see if that might be true or not. Also - let me know if you’re a fan of play-to-earn games, I’m truly interested!
SOME BERRIES
In case you’ve missed this week’s newsletters:
Music NFTs - the future of music?
CUP OF COFFEE
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Disclaimer: This newsletter is strictly educational. None of this information is intended to be financial advice. Always do your own research and act responsibly with your profits.