How to Make Money Streaming Your Favorite Video Games
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Some estimations put the value of the global gaming market at $268 billion by 2025. As people are increasingly moving their lives online and in front of screens, the pandemic drastically increased the number of gamers. Cryptocurrencies and games are beginning to merge, and play-to-earn games may revolutionize the industry.
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Play-to-earn games are games where players earn rewards for playing and participating in the game's ecosystem. Unlike in traditional games, (where rewards are only useful within the game's closed ecosystem), rewards in play-to-earn games can be exchanged for other cryptocurrencies, and eventually for real money. They completely change the incentive structure around playing a game.
Rewards come in different forms: in general, players receive in-game assets and/or the game's native token. These can usually be exchanged for each other, enabling players to be financially rewarded for time spent playing the game. Rewards can be traded on secondary marketplaces, with most games offering native marketplace solutions.
The main appeal of play-to-earn games is giving the players equity and allowing them to own the game's assets. Leveling up becomes a financially worthwhile activity with play-to-earn games, instead of just a goal. Depending on the game's complexity, an entire in-game economy develops around the tradable assets, with more sophisticated games developing highly sophisticated game economies.
Although blockchain games have existed for years, play-to-earn games really became a trend during the coronavirus pandemic. Cryptokitties was one of the early blockchain games from 2017, but Axie Infinity (AXS) probably popularized the play-to-earn trend in 2021 more than any other game. Aavegotchi was another popular game also using NFT technology to allow players to earn rewards.
The key appeal of play-to-earn games is the ability for players to earn rewards that can be exchanged for other crypto assets like Bitcoin or stablecoins. Imagine you could play FIFA and increase your team's value by winning games, and then were able to sell the team at a profit. That, in a nutshell, is the appeal of play-to-earn.
The most straightforward and common way is to play the game and earn in-game rewards in the game's native token. Like in traditional games, players are rewarded for completing missions and advancing in play-to-earn games, the only difference being that rewards have a monetary value.
Finally, players can earn by trading items they acquired on marketplaces and reselling them at a higher value or by trading the game's token. AXS more than 200X'd its valuation at its peak, making trading play-to-earn tokens a potentially highly lucrative activity.
Each Axie features different stats and comes in different classes, with Axies varying according to their rarity. Players can work on their Axies to level them up and increase their rarity level, thus increasing their value. At its peak, AXS reached a multi-billion dollar valuation and was one of the most valuable crypto assets on the market. The token became so sought-after that entire playing farms in developing countries formed, allowing people to make a living playing Axie Infinity.
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Smooth Love Potion (SLP) are ERC-20 tokens that are earned by playing the Axie Infinity game. It can then be used to breed new Axies. SLP has exploded in popularity in countries like the Philippines, where the SLP to Philippine peso pair is extremely popular.
Aavegotchi is another early play-to-earn game and is named after the popular Tamagotchi digital pet game. Aavegotchi was a pioneer in combining play-to-earn functionality with features from decentralized finance, allowing players to stake collateral on their Aavegotchi and incentivizing them to constantly improve their rarity levels. Other play-to-earn games later copied this kind of rarity farming, but no other game managed to pull it off as elegantly as Aavegotchi did.
The Sandbox is one of the games that evolved from the initial play-to-earn trend and combined it with metaverse elements. In its blockchain-based virtual world, players can buy and trade virtual parcels of land, allowing them to create a digital world that has real-world financial benefits.
Decentraland is another highly popular play-to-earn game with metaverse elements. Similar to The Sandbox, players can buy and own virtual pieces of land that can be used for different use cases. Several major companies are even said to have bought virtual real estate in Decentraland, a testament to the game's popularity and the appeal of blockchain games.
Illuvium is a role-playing game that sends players traveling across a fantasy world to catch creatures known as Illuvials. These Illuvials are NFTs and allow players to trade them on the game's marketplace or use them for staking purposes to earn the native ILV token. One of the most popular fantasy games in the blockchain space, Illuvium rocketed from virtually zero to a four-figure token price thanks to its cleverly-designed in-game incentives.
Alien Worlds is a futuristic sci-fi adventure play-to-earn game with a simple premise: play, mine and upgrade to create an immersive gaming experience. It revolves around NFT alien species that a player can capture and use to mine or find different items. The more a player upgrades, the greater the odds of winning.
The official cryptocurrency of the Alien Worlds game is called alien worlds and it trades under the symbol TLM. A player can use the TLM token to trade NFTs with other players or win battles and missions. Players need mining tools, land and TLM deposits to get started.
This blockchain-based game lets users build, craft and survive in its blocky metaverse. Users playing The Sandbox can buy SAND in-game currency tokens to build a house or a castle or to go on quests to earn more tokens. Combining creativity, strategy and survival skills, The Sandbox encourages players to actively participate on the platform, buying and selling NFTs. The more items players build, the higher the level they can reach.
In this play-to-earn game, users race their horses to earn rewards. Each horse has its strengths and weaknesses, and players can upgrade them to make it easier to win races. They can also bet on other players to earn money.
Blankos Block Party is a multiplayer party platform where users can play mini-games and complete quests to collect moola, or MLA, the in-game currency. Users can also buy Blanko Bucks with a credit card.
Star Atlas is an astronomy-based play-to-earn game where users can explore space and trade NFTs of planets, stars and other items. Each planet or star has unique features, making them all different from one another in the game. Players can also discover new worlds by traveling at warp speed around this virtual galaxy.
This blockchain-backed game relies on two tokens: the ATLAS, which is used in the game as a utility token, and the POLIS, which is a governance token. Players can earn POLIS by staking their ATLAS tokens.
The value across all play-to-earn games comes from the currency that players earn within the platform. But not every game has the same model, and some small names are only looking to cash in on the metaverse craze.
Most games have native tokens for in-game purchases and trading between players. They derive value through the use of their tokens which users and cryptocurrency traders deem valuable, according to blockchain developer James Bachini.
Indeed, Axie's axs cryptocurrency gained an eye-watering 18,000% over the course of 2021, while Decentraland's mana token rose by 4,000%, ranking the two of them among the best performers overall last year from the crypto space, all thanks to the popularity of play-to-earn games and the metaverse.
"Play-to-earn is not a magic pill that will make any game profitable for players, yet it sets a precedent and a canvas for such a value-distributing game," said Diego Di Tommaso, cofounder of open-source AR platform OVR.
Possibly, but there are a number of problems associated with this concept because the appeal of earning money could dilute the gaming experience. One major risk is a game's ability to continue growing the economy it intends to build.
Being entertained and actually having a good time while playing could be watered down by people using bot-farmers as a way to make the most of the game purely for the sake of residual income, he said.
Easy one. Transaction fees! New players incur a fee for purchasing in-game currency, and this represents a major revenue stream for the game. The most appealing part of the game is the price appreciation of native tokens.
Good morning, afternoon or evening mortals, depending on where you reside in the realm! With Shine Fusing in the hands of our players for the past few weeks, we thought it would be an excellent time to discuss one of the key reasons for introducing the ability to Shine Fuse cards up to a higher quality: the upcoming Daily Play & Earn feature. This post will go through some of the mechanics that will contribute to the rewards you can earn when the feature launches.
For the Daily Play & Earn feature, players will earn points called Fragments from winning games. Each day players will have 10 games that they can earn Fragments from, with the first three wins each day granting players a bonus! At the end of the day, players earn $GODS token rewards from the rewards pool (just like Weekend Ranked) based on how many Fragments they earned relative to the rest of the community.
As you can see in these graphs, the rewards are significant for upgrading the Quality of the cards within your deck. While individual cards on their own might not significantly impact potential rewards, completing a full deck yields a large bonus to the rewards you can earn.