Few regions are escaping the crypto craze, but many game developers have actually welcomed it.
Many gaming-related collectibles can now be redeemed as non-fungible tokens, but some Titanic P2E games have gone even further and placed NFTs and crypto as bets.
P2E games are similar to normal video games, but a plus point here is that the in-game items here have real-world usefulness.
play to earn (P2E) game play to keep up
P2E games aka play to earn games or just crypto games, are games that are supported by NFT and cryptocurrency, some of the elements that form a significant part of the gameplay. Often, instead of acquiring the game, people acquire things like weapons, skins, or whatever.
It is not completely different, many games use the same model, especially the so called F2P games. These games allow users to play for free and even let them earn stuff through gameplay, but the real stuff is hidden behind a paywall – or perhaps a very time-consuming grind.
However what makes P2E games unique is that people can sell or trade assets in the game to other players. This is due to many assets being NFTs, and they can be converted into them.
To illustrate this, Axie Infinity is the best example, as it is one of the longest running P2E games. The game’s notion is simple: users take normal DOF “axes”, minor fantasy creatures, and face off along the axes of other players in the ecosystem. The game is similar to Pokemon but in a highly monetized form.
P2E Business Design
However, not as much flow as people think. In an ecosystem where everything comes at a price, the individuals controlling that environment have ways to adjust things in a way that always comes out on top.
As a result, everything in the P2E game Axie Infinity costs money. Getting an AXI will set you back some Ethereum – the crypto blockchain on which the game operates – SLP costs ETH and AXS costs ETH.
Technically, many of these resources can be obtained in-game, but they are often set on a timer, so the amount of people’s bags is actually reduced until they spend some physical world money. do not do.
Ownership of in-game assets
It’s not just the P2E gaming structure that should be raising eyebrows, it’s the pledges as well. The assumption is that you play the game or pay for it and that people own their assets: cards, NFTs or whatever the game has to offer. After all they are non-fungible tokens and the user is the owner.
There are more traditional threats, such as theft. Axi Infinity, the recent attack occurred where hackers wiped out $600 million directly from the ecosystem. Considering how much assets are stored in online accounts, this makes them prime targets for attackers.
So, yes, people own their cards or axes or whatever it may be that these gamers are hawking, but only as long as the servers are up and secure.
Anurag Batham has been working as an original writer for The Coin Republic since 2021. He likes to exercise his inquisitive muscles and do deep research on a subject. Although he covers various aspects of the crypto industry, he is quite passionate about Web3, NFT, gaming and the metaverse, and sees them as the future of the (digital) economy. A reader and writer at heart, he calls himself an “average guitar player” and a fun footballer.
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