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NewsBTC 2022-04-22 09:46:23

What Are Play-to-Earn Games? How Players Are Making A Living With NFTs

When anonymous developer Satoshi Nakamoto launched Bitcoin in January of 2009, nobody knew how impactful cryptocurrency would become. While rumors regarding its potential floated about, cryptocurrency changing the world was just a far-off pipe dream. Today, it’s all coming true, and what started as an experimental payment system for the techiest of the techies is disrupting industries worldwide; gaming included. In hindsight, it’s no surprise that digital currency and digital worlds go together – cryptocurrency fits gaming like a glove. With the help of related blockchain technologies like NFTs, cryptocurrencies make peer-to-peer virtual worlds possible, empowering gamers through true ownership of the games that they play. How Players Are Making A Living With NFTs NFTs, or Non-Fungible Tokens, are blockchain records that prove ownership of unique digital items like pictures. When applied to gaming, NFTs can represent in-game equipment, characters, structures, and more. In games that incorporate cryptocurrencies and NFTs, players can generate an income either by earning cryptocurrency directly or by earning NFTs and trading them for cryptocurrency. As such, these games are commonly referred to as “Play-to-Earn”. Play-to-Earn games come in one of two forms. Some, like the ever famous Axie Infinity, are stand-alone, meaning that they are bound to their own self-contained game world. Others, like the hotly anticipated Runiverse, s...

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