Axie Infinity and Decentraland, two popular play-to-earn games, are exploding in popularity throughout the cryptocurrency industry.
Their innovative, extremely entertaining model seems to be transforming the game business, and it has a wide range of potential audiences.
Who or what is the source of the funding?
The currency that players earn inside the platform provides the value that is shared across all nft games list on the site. However, not every game follows the same business strategy, and some tiny developers are simply interested in capitalizing on the metaverse trend.
A native token is a kind of currency that may be used for in-game purchases as well as trade between players. According to blockchain engineer James Bachini, they get value from the usage of their tokens, which are deemed valuable by users and cryptocurrency dealers.
For example, the mechanism used by Axie Infinity relies on players making a significant initial investment in NFT games that are special to the game (or Axies, in this case). Gamers may then swap their in-game digital assets — which they have acquired via playing — with other gamers at a higher value, so continuing the cycle and injecting value into the gaming economy in the process.
According to Bachini, “If everyone chooses to quit and trade their Axie tokens for other digital currencies, the token value would plummet.” In the event that the game continues to be successful, there will be a continued demand for the token.
The game’s proprietors and investors are certain that people will continue to participate in it and to put money into it in the future. This is due to the fact that digital asset ownership is becoming more widely accepted.
Specifically, Axie’s axs cryptocurrency increased by an astounding 18,000 percent over the course of 2021, while Decentraland’s mana token increased by 4,000 percent, placing the two of them among the best performers overall in the crypto space last year, thanks to the popularity of play-to earn games and the metaverse.
Is it assured that I will make money from my gaming activities?
No. However, the amount of time you devote in the game, its popularity, and the demand for the in-game assets or underlying token all play a role in your success.
Although “play to earn” is not a magic pill that will make any game lucrative for players, it does provide a precedent and a canvas for such a value-distributing game, according to Diego Di Tommaso, cofounder of open-source augmented reality platform OVR.
Is the business model viable in the long run?
Possibly, however there are a lot of issues with this approach since the allure of making money may dilute the game experience, among other things. One significant risk is the capacity of a game to maintain the growth of the economy that it seeks to create.
According to Adrian Kolody, founder of DeFi firm Domination Finance, the only way for a play-to-earn model to be viable is for the game’s players to be of high quality.
Bot-farmers might dilute the experience of being amused and truly having fun while playing, according to him, if individuals use them to get the most out of the game just for the purpose of earning residual revenue, rather than for enjoyment.
According to him, “Bot behavior also encourages the automatic dumping of the token payouts that you obtain from these games.” Consequently, there is a downward price movement, which may spell definite death for some of these projects that depend on their token to perform well for a long enough period of time.”
Furthermore, the ongoing selling of in-game assets necessitates a steady influx of new players in order to sustain the business model and establish income sources in order to succeed.
What, if anything, does the game generate in terms of revenue?
This is a simple one. Fees for transactions! The game charges new users a price for acquiring in-game cash, which constitutes a significant source of income for the developer. The most enticing aspect of the game is the increase in value of native tokens as time passes.
Games with strong communities and branding have a distinct advantage over their competitors.
Koh Kim, head of ecosystem at blockchain infrastructure startup Mysten Labs, explained that “Axie’s sustainability will be determined by how quickly it can grow its player base and drive additional utility to its in-game assets.” “Axie’s sustainability will be determined by how fast it can grow its player base and drive additional utility to its in-game assets,” he said. “Axie has actually altered people’s lives – and that is their competitive edge,” says the entrepreneur. There is no other play-to-earn game with such a high degree of player loyalty.
There will be some of the greatest play to earn games that are compatible with both web browsers and a native mobile app, which will be available soon. If, on the other hand, you are wanting to play a freshly released NFT games, you may discover that it is initially only available via your laptop or desktop computer.
This is due to the fact that top-rated NFT games are very complicated to design from a technical viewpoint. As a result, the game must be completely adapted for mobile devices running both iOS and Android operating systems.
Forest Knight, one of the greatest NFT games for mobile devices that we’ve come across, is now available for download on Android devices as of this writing. If you’re seeking for the greatest NFT games for iOS, Sorare, a sports fantasy title, should be on your list.
In conclusion, this tutorial has covered every aspect of NFT games that you could possibly want to know. We’ve spoken about the many various ways that NFT games enable you to earn prizes – with a heavy emphasis on in-game digital tokens and one-of-a-kind NFT games – and we’ll talk about how to earn them in the future.
The cryptocurrency exchange eToro is an excellent choice if you’re hoping to make a larger investment in the larger NFT gaming market by acquiring in-game tokens – such as those from Decentraland, the Sandbox, or Axie Infinity.
We do have a favourite new NFT games project at the moment, though, and that is Silks, because to the platform’s novel P2E capabilities and its interesting connection to the thoroughbred horse racing sector.