Play-to-Earn gaming is a developing industry in the gaming business which offers players to earn in-game currencies which they can trade for real-life money. What makes P2E gaming a rapidly growing industry is the ability to start earning money in a much more consistent and faster way as compared to streaming or taking part in competitive tournaments.
What Are Play-to-Earn Games?
As players start putting hours into a game, they can take part in the in-game microtransactions and earn rewards in the form of NFTs or the main currency of a game which they can trade for NFTs or real money. P2E games are available in a vast variety ranging from RPGs (Role-Playing Games) to MMORPGs (Massively Multiplayer Online Role-Playing Games). These are just two of the popular examples of P2E games. You can choose games according to genres that you enjoy and can spend hours without losing interest.
How to Get Started?
The first and the most important step of getting started is choosing a game that you enjoy playing. A game that you can grind for hours and not get tired of. It is recommended to start with Free-to-Play games at first so you can get the hang of this part of the gaming world. In a Free-to-Play game, you don’t need to purchase an NFT to start earning. Instead, you can simply start playing, and if you’re good enough, you can start turning a profit. When you do make profits for yourself, that’s when you need to create a crypto wallet.
Creating a wallet is easy and usually free, an example of a free online wallet that is popular among users is “Metamask”. Crypto wallets allow users to start taking part in microtransactions in a game, buy NFTs and connect to a game.
Ways to Start Earning in P2E Games
Putting in hours is the only way to earn in a P2E game, right? No! What if you could earn using different methods available in P2E games? We don’t know about you but that would be a big relief for many gamers that aren’t able to grind multiple hours due to their busy schedules. Nonetheless, here are the most popular ways to earn money in P2E games!
Check out our guide to Earning in Blankos Block Party.
Clock in the Hours!
Putting in hours might be the best way to earn from P2E games. The more you play, the more XP you earn, and the faster you level up. This would help you earn unique rewards which the players can then sell and earn real money.
Players are also encouraged to take part in tournaments. However, for this, a player would need to be pretty good at the game, so they could place higher in the tournaments. Moreover, you could also complete daily challenges which can also help to earn rewards.
Most MMORPG games host daily, weekly or monthly tournaments in which you can participate by paying an entry fee. Players that finish on top take home the winning pool.
If tournaments are not your cup of tea, you could always go for something casual like daily challenges which can be completed to earn unique rewards which can be traded or sold to other online players.
Scholarship is just another word for rental services where the scholar is the one who rents the NFT whereas the manager is the one who owns the NFT. This is beneficial for players who need to raise funds in order to buy their own NFTs but can’t afford to pay the full price. Initially, they can just rent NFTs, earn rewards, and after a certain period of time, they can afford their own NFTs. Then, they can continue to rent their own NFTs to other scholars to continue the cycle!
Getting in Early
Players should look out for games that are in their initial phase. The reason for being always on the lookout is finding the right opportunity to invest. New games mostly have new, or mintable NFTs which go for cheaper rates. To turn a profit, buyers can sell their NFTs as the game develops further and gains popularity which would lead to a price hike.
Trading is a highly effective yet difficult skill to master. In order to be a successful trader, you’d need to take your time researching different types of NFTs. You need to know when to buy and when to sell, and that is a skill that comes with gaining experience. Trading of any sort requires patience and of course, also a decent investment. A key point in trading would be to acquire NFTs that are available for a short period of time or are exclusive to an event. That way you’ll be able to get huge profits after they’re no longer available for players to buy.
Another way would be to buy base NFTs, develop them – e.g levelling up a character – and sell them with added value. Also, minting and whitelisting yourself for early access to NFT collections of games is probably the best way to make safe profits. You can mint the NFTs for an extremely low cost, and when the game launches, they’re likely to jump up in value!
By the sound of it, it seems that getting into P2E games would require a learning curve for gamers that are new to this part of the gaming world. But, isn’t that the requirement for every new game you play? Think of it this way; you’re getting the thrill of learning a new game along with being able to earn as you progress. Your desire to keep improving will only help you to get a better knowledge of the different ways you could earn money playing.
P2E could be the future of the gaming industry, and now is the best time to get into it! Lastly, before starting, be sure to research about what you’re getting yourself into so you have a high chance of turning profits and minimum risk of losses if you decide to invest and trade. The way you decide to earn is totally dependent upon you. If you have time on your hands, you could grind out results. On the other hand, if you have a busy schedule, you could rent out an NFT and earn passively!
That’s the beauty of this industry, and it’s why you shouldn’t deprive yourself of its goodness.