How To Choose The Right
Play-To-Earn Game For You

Are you looking for a new and exciting way to spend your free time? Did you hear that many players are making a living doing nothing but playing online games? Well, you must have, because Play-To-Earn games or NFT games are the talk of the town. These games offer an engaging experience that can help you pass the time and come with the potential to earn some extra money. But, when it comes to play-to-earn games, there are many different options out there. And with so many options, it can be hard to figure out which one is right for you. In this blog post, we’ll discuss how to do just that. So keep reading for more information!

What Are Play-To-Earn (P2E) Games?

Before we discuss how to pick the right P2E game, let’s first take a moment to define what these games are. A P2E game is an online game that allows players to earn real-world rewards. These rewards can come in the form of cash, prizes, or in-game items that can be converted to real-world currency. P2E games are becoming increasingly popular as they offer an engaging and fun way to earn some extra money. Besides P2E, there are two more terms that you should know about: DeFi and GameFi.

Play-to-earn NFT

What is DeFi?

DeFi is short for Decentralized Finance; it is a broader term for financial applications built on blockchain technology (primarily Ethereum) that removes the need for a third party (like a bank), enabling digital transactions between independent parties.

Why is it beneficial?

  • No need for paperwork or approvals, meaning faster transactions within seconds
  • No need to pay fees to banks or financial institutions.
  • Your money is still as safe as it would be in a bank.

Interestingly, you can still do pretty much everything that a bank would support: lend or borrow crypto, earn interest, trade assets and derivatives, and many other things.

What Is GameFi?

 Combining the words “game” and “finance,” GameFi is the buzz of the town these days. It refers to the integration of blockchain technology (Cryptocurrencies, NFTs, DeFi) into the gaming world with the purpose of making money. Many people say the terms “GameFi” and “P2E Games” in the same breath and often use them interchangeably. But, the main difference between GameFi and P2E is obvious.

GameFi is the whole technology or ecosystem that integrates blockchain into the gaming industry for monetization and other things, while Play-to-Earn games are the product of the GameFi concept.

Now that you know the fundamentals of play-to-earn games, let’s get to the things you should consider before dedicating your time to them.

Things To Consider For Picking A Play-To-Earn Game

Now that we’ve answered the question, “what is a P2E game?”, it’s time to discuss how to choose one. When you’re looking for a P2E game to play, there are a few things you should keep in mind. Here are a few factors to consider:

1. What Do You Need To Get Started?

This is the first and most important question you should ask yourself when looking for a P2E game. Some games may require special hardware or software that you might not have. Others might require a minimum amount of money to get started. Be sure to do your research and find out what you need before committing to a game.

2. What Do You Want: Crypto or NFTs?

This is an important thing to decide first; what is your clear and specific goal for the game? When it comes to P2E games, there are two main types of rewards: cryptocurrency and NFTs. Cryptocurrency is a digital or virtual currency that uses cryptography to secure transactions. Bitcoin, Ethereum, and Litecoin are all examples of cryptocurrency.

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NFTs, on the other hand, are non-fungible tokens. These are unique digital assets that can represent anything from digital art to in-game items and collectibles.

So, which one should you choose? It really depends on what you’re looking for. If you’re interested in earning a steady income, then cryptocurrency is probably the way to go. But, it would be wise to find out what cryptocurrency is supported in the game and how much it would cost to convert to another one.

However, if you’re more interested in earning rare and valuable items, then NFTs might be a better option. For that, you should be aware of the current market prices and future predictions for the valuations of the NFTs that you earn. Apart from choosing your preferred reward, you should also find out how long it takes to earn those rewards and how hard or easy it is to earn them.

3. Is It Easy To Cash Out?

Now that you know the two forms of rewards (cryptocurrency or NFTs) while playing a P2E game let’s get to the next step -cashing it out. Some games make it easy to cash out your earnings, while others might be tricky. Since most games are developed on popular blockchains like Ethereum or Polygon, you wouldn’t face any issues cashing out your rewards. These games would allow you to use your in-game assets or coins to earn real-world money, while others might allow you to trade assets for assets.

Now, you might be intrigued to sell your tokens or NFTs, but remember that it is a slow process. You wouldn’t always find buyers easily or someone ready to match your asking price. In that case, you might prefer asset-for-asset trade.

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Also, you need to be mindful of the ever-fluctuating prices of cryptocurrencies. You might get a bad exchange rate if you hold on for too long or sell your tokens early. So, you would need to stay up to speed with general market updates.

All of these things are important to consider before you cash out rewards or even before you commit to a game.

4. Do You Have The Initial Money?

Some P2E games require a certain amount of money to get started. They don’t ask for investment or a sign-up fee, but they might require you to buy a starter pack. You would need some digital money (cryptocurrency), of course.

On the other hand, other games might not require buying anything to start. However, once you begin, you might have to pay to gain access to premium features or to start the “play-to-earn” game mode. For instance, the most popular play-to-earn game, Axie Infinity, asks you to buy at least three Axies to start the actual game. An average rare Axie might be priced between $30 to $70. So, you need to be sure if you are willing to spend the amount.

5. How Can You Find Out About New Games?

5. How Can You Find
Out About New Games?

Now that you have decided to dedicate your time to play-to-earn games, you need to be aware of the hottest trends, most rewarding games, and of course, those that align with your budget and interest. For that, you need to do three things: Research, Research, & Research! And while Google is everybody’s best friend when it comes to researching and exploring new topics, you need to browse only credible sources. For example, binance.com has a blog section listing upcoming games and already running hit NFT games. Read them and see if they interest you.

Besides authority blogs, we recommend you look at CoinMarketCap and DappRadar. CoinMarketCap gives you an extensive list of the currently booming games with a ton of important information like token trends, overall market cap, how much crypto was traded in the 24 hours, and other similar data. This can help you decide the best time to jump in and start playing. Similarly, DappRadar tracks over 3000 decentralized blockchain applications and helps you track, analyze, and discover trending apps.

Top Trending Play-To-Earn Games

Let’s get you familiar with some games that have been ruling the play-to-earn world.

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Axie Infinity :

Axie Infinity is a digital pet universe where you can own, breed, and battle with your Axies (fictional animal creatures). It is one of the most popular Ethereum-based games that allows you to collect, raise, and battle with your pets. The game features extensive unique characters and a captivating gameplay. Players can use their in-game assets to earn real-world money.

Splinterlands :

Based on the Hive blockchain, Splinterlands is a strategic NFT card game that has over 500+ cars. Players fight each other using these cards. Interestingly, the application has cross-chain functionality that allows players to trade cards and tokens on Wax and the Ethereum blockchain.

Gods Unchained :

Gods Unchained is one of the most popular online multiplayer blockchain games that lets players battle it out in an arena. Like Splinterlands, players try to beat each other smartly with their cards. Other famous games include: 1. Sorare (Fantasy Football),  2. NFT Champions,  3. Star Atlas,  4. Alien World  &  5. Meta Wars.

 

Key Takeaways :

  • Playing games is not just fun and entertaining anymore; it is now financially rewarding.
  • Play-to-earn is a new category of games where players can earn real money by playing games.
  • Before you start playing play-to-earn games, there are certain things you need to keep in mind, like the amount of money you are willing to spend, your goals, ease of cashing out, and the time you are willing to invest.
  • Do your research before getting started and only rely on credible sources.