What Is P2E Gaming?
What Is the P2E Meaning?
P2E (Play-to-Earn) are games that allow you to earn money. It's like earning "diamonds" in a mobile game – only here these diamonds can be exchanged for real money. This is a relatively fresh market that has gained popularity very quickly. What are these games for? It's simple – they bring income to creators and players, promote cryptocurrency and simply provide an opportunity to have fun.
The main hype (as well as the bulk of the players) came from Southeast Asia. Players from the Philippines, Indonesia, Malaysia actively captured (in a good way) the market. Playing crypto games turned out to be very profitable. Young people who previously found it difficult to find work in their home countries have now been able to start earning amounts that are 3-5 times higher than the average wages in those countries. Their activity and perseverance also gave impetus to the emergence of a large number of bloggers and various P2E media. After all, the one who first gets information about a new toy will earn ten times more in the future. All these factors have brought the market to the state in which we see it now.
How Do Users Earn in P2E Games Crypto?
There are many ways to make money in games. The main and probably the most popular is PvP and PVE battles. Players fight in arenas against other players or AI and earn tokens.
In addition to battles, income can come from plots of land on which coins are farmed. Some projects create a mechanism for renting assets, with the help of which the player does not need to enter the game at all – he hands over his characters to a more active player and can sleep peacefully, along the way earning tokens with someone else's hands.
What is the Relationship Between P2E and Non-fungible tokens?
NFT and P2E are closely related to each other, because users want to keep the most important gaming assets in their wallets. This is where non-fungible tokens come to the rescue – in addition to their earnings (tokens), players use NFTs to store their characters, plots of land and other items in their wallets.
How Much Can You Profit Off Play-to-Earn Games?
It all depends on the game and the time spent. But, as can be judged from the experience of Southeast Asia, people can fully provide for themselves and their families by devoting the whole day to the game, and at the same time earn many times more than the average salary in the region.
If we talk about specific numbers, they differ. It can be from $300 to $1500 per month.
P2E games in their mass now are very simple games without complicated mechanics. The entry threshold on the part of gaming experience can be minimal. Another thing is the entry price. Many games require you to buy a character/land to start the game.This is where the difficulties begin, since on average a character in a P2E game costs about $300, which is quite a high cost for a player who came to “try himself”.
The ability to play for free would kill the entire economy of the game – after all, then the tokens earned in games would lose one of the most important functions – exchange and trade between players.
If you start as an ordinary player with no goals to earn thousands of dollars, you can spend a couple of hours and earn a good bonus to your monthly salary. If you seriously engage in games, then the time invested will return in the equivalent of money.
How to Make Money on Play-to-Earn Games?
There are several ways. The two easiest ones are to play or hold the project token from the beginning of the project itself. In the first case, you will consistently receive tokens, while the second is more like trading and requires a deep analysis of the game itself and the team.
The more difficult way is to rent out your property, whether it's a character or land. In this case, the income will be brought to you by the tenant. The most difficult and costly way is to open your own guild. This is a certain organization that massively rents out its assets and takes a percentage from the players for this. This method requires a systematic approach and a complex organization of processes within the guild, because the convenience and comfort of your players equals to your earnings.
How Does Blockchain Technology Ensure the Safety of Play-to-Earn Games?
Most of the games interact directly with the user's address inside the blockchain. Some operations are performed on game servers. Therefore, as long as the data of your wallet and your game account are 100% safe with you, you can be sure that your funds and all in-game items are also safe.
Unfortunately, the growth trend of game tokens seems to be negative. Even the most sensational games of their time managed to keep their tokens and, in general, economic models in a state of growth only for a short time.
What Are the Prospects For the P2E Space?
At the moment, the P2E sphere is actively developing – this can be confirmed by various news from large “non-crypto” game publishers about investments in a particular P2E project. Active cash injections also occur from the largest marketplaces, cryptoexchanges, metaverses and blockchain-platforms.
The P2E market is now similar to the early game market – from simple flash toys, the transition to AAA projects begins. Only in this case, this transition is less smooth and the industry is moving forward by leaps and bounds.