What is Play to Earn Business Model in Gaming?

The gaming industry is changing at an unthinkable pace.

The crypto world has successfully merged with video games, creating what we now know as Blockchain Gaming.

Even though the concept of Play to Earn gaming isn’t new for some, the truth is that the gaming world is experiencing this business model more often than ever before.

Long gone are the days when a game could only be played using arcade machines - we are now experiencing the present and the future of the video game industry.

If you don’t know where to get started, do not despair - we’ve come for your rescue.

In this blog post, we will be talking about:

• What is Play to Earn?;
• Can you actually make real money by playing online games?;
• Important things you need to know about the Play to Earn games business model.

What Is The Play To Earn Business Model?

The Play To Earn model allows users and other players to earn money by playing a video game.

As simple as it might sound, business models like this one have proven to work in the past.

Most gamers love playing many games during their free time, and people love making money in real life.

The Play to Earn model creates a perfect cocktail where earning money while also having fun is possible.

Play to Earn: The Basics

The definition of Play to Earn is very straightforward and easy to understand: players earn money by having a good time playing a popular game.

But, what are the bases of a Play to Earn game? It takes more than just offering valuable in-game items to create an open economy.

Play to Earn Games Are Built Upon the Free-to-Play Model

First of all, it’s important to mention that Play to Earn games can be of any kind: trading card games, RPGs such as Guild of Guardians and Lost Relics, action-based games, and other games - game developers are free to choose the game genre.

But in order to create a community where all users can make money and earn rewards, it’s recommended to build the game on the basis of the free-to-play model.

Free games are easy to access, allowing people from developing countries to engage in huge, growing communities.

Now, are all P2E games free to play? Not necessarily, since some of them will require users to invest money in order to start earning.

Players Create the Potential of a Play to Earn economy

The control of the economy belongs to the players.

Crypto games use the Non-Fungible tokens technology to offer true ownership of digital assets.

When gamers earn assets, they can later decide to exchange their Non-Fungible Token in an open marketplace.

Each Blockchain Game is powered by smart contracts, which takes the concept of gaming economies one step further.

Earn Cryptocurrency, In-Game Assets, and More

Blockchain Games have tokens that can be exchanged for fiat currencies in most crypto exchanges.

So, while gamers are contributing to Play to Earn games by playing, having fun, completing daily quests, and interacting with other people, they are also earning tokens that can later be turned into money in their bank account.

Cashing out from crypto to fiat money is now easier than ever before, which is why this industry seems to have no limits in the near future.

Play To Earn Game: Market Data and Statistics

In order to understand why Play To Earn games are going to be leading the years to come in the industry, it’s important to take a look at some statistics related to this model:

• Even though some trending P2E games are free, some others require players to purchase NFTs. This, eventually, led them to engage in the game and earn more money in the long haul;
• According to Statista, the global gaming market is expected to reach a value of almost $270 billion by 2025;
• So far, there are less than 1,000 recognized P2E games where people can make money by playing. This number is expected to significantly increase in the months to come;
• Decentraland, a famous P2E game, has reported that one of their players sold a piece of land for almost 1 million dollars;
• Axie Infinity continues to be the most popular NFT game of them all with 2 million daily active users.

How to Start Playing Play to Earn Video Games

You can also start now and earn NFTs sooner than later.

There are lots of NFT games to choose from, but here’s a piece of advice: do your own research and invest your money only at your own risk.

Luckily, you can stop playing whenever you want, so this doesn’t have to necessarily be a big deal.

There are plenty of options to start: Somnium Space, Treeverse, Axie Infinity, and so on.

One of the best sources to get detailed information about Crypto and NFTs games is PlayToEarn.net.

What’s certain is that the potential of the P2E business model is going to continuously surprise us while more players get interested in playing these games.

So, what are you waiting for?

Now is the moment to earn some sweet money while also having a really good time with your friends and other gamers.

For more information related to P2E games, check Hypenoon constantly!

Play To Earn FAQ

Are Cryptocurrency Games Safe?

Most games have proven to provide simple and secure environments to all their players.

In any case, it’s recommended to perform deep research before engaging in a game you don’t fully know.

What is Smooth Love Potion?

Smooth Love Potions (SLP) is a token used on the Axie Infinity Marketplace and Ecosystem to buy different types of assets inside this P2E game.