In fact, a lot of people, particularly in developing nations, are making a living salary from crypto games. Farming in Play to Earn games offers a more consistent source of revenue where your pay is based on your abilities and playing time.
What is Play to Earn?
From trading utility Non-Fungible Token (NFT) like WARP Starships to feeding your pet in Petto, blockchain games have come a long way. Even if you don't have the rarest NFT in your wallet, you can now make money playing crypto games.
The concept is intriguing considering how infrequently gamers are given the opportunity to make money outside of their favorite video games. Users are now able to make money in the cryptocurrency world thanks to this new concept of play-to-earn games.
Users can harvest or gather cryptocurrency and NFTs in play-to-earn games so they can later sell them on the market. Each participant can accumulate additional products or tokens to sell and earn money by playing the game frequently. Some players have even started to use these blockchain games as a complement to or replacement for their regular income. However, such an activity entails risk because you often have to make a down payment in order to buy the game's characters and equipment.
What are Play to Earn games?
Play to earn enables users to make a consistent stream of cryptocurrency just by participating in these games. The mechanics of each game can vary, but generally speaking, staking, farming a game's cash, or creating tradeable NFT products yields benefits. Users depended primarily on random chances to win in earlier blockchain games. However, play-to-earn has produced in-game economies and business models where users can generate income.
Play-to-earn video games are included in the GameFi category since they combine gaming and finance. Each game offers rewards for participation and achievements. As previously indicated, there is typically a grinding component to repeating particular behaviors that allow users to earn money in two ways:
1. Earning or exchanging NFTs in-game. Each NFT could be a representation of a game collectible, character, or object. These can be just decorative or provide a function or usage in-game, depending on the game.
2. Staking is a way to make money using play-to-earn games. Users can lock up NFTs or cryptocurrencies in smart contracts in some NFT games, which results in an additional source of income.
3. Earning in-game cryptocurrencies. One example would be WARP's Game token $WARP, acquired by completing activities or just holding a specific NFT in your wallet.
How does Play to Earn and Blockchain truly integrate one another?
Play to earn is nothing new. Many online games have secondary marketplaces or fiat-based auction houses that are run by gold farmers. The crucial distinction for GameFi is that these currencies and goods are recorded on blockchains. Several characteristics of a blockchain make it simple to establish ownership, validity, and rarity.
A blockchain network can be compared to an immutable database. A distributed network of computers (users) each keeping a copy of the blockchain data keeps it up to date. As a result, altering, copying, or erasing blockchain data is essentially impossible. Fraud or corruption, such as item duplication, gold hacking, and other exploits that are widespread in conventional games, can be avoided when developing blockchain games. A game item's worth is significantly influenced by its rarity. Blockchain prohibits copying and pasting. If something is unique, it cannot ever be copied. As a result, in-game objects have more true value.
The average user is not typically financially rewarded by gaming. It can be difficult to comprehend how a blockchain game can bring in money for regular gamers. In fact, a lot of people, particularly in developing nations, are making a living salary from crypto games. Farming in Play to Earn games offers a more consistent source of revenue where your pay is based on your abilities and playing time.
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Jul 4, 2022