All about Play To Earn + Earn money from it

These days, buying and selling digital currencies has become one of the important sources of income for enthusiasts and investors in this field.

Right now, as you are reading this article, there are more than 13,000 different digital currencies whose prices go up and down at any moment, and many people are profiting from these price fluctuations.

However, trading and buying and selling digital currencies is not the only way to make money from this market, and every day we see the emergence of new projects and methods that can make us rich.

One of the ways we want to talk about today is earning money from playing Play to Earn games, which are becoming more and more popular among active users in the field of digital currency.

If you have been following the news of the world of cryptocurrencies, you must have heard the name of the game Axie Infinity or at least the name of its local token, AXS, at least once. This game is currently the biggest and most important blockchain-based game that can be monetized.

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It is interesting to know that some Filipino farmers have given up their father’s jobs to play this game and earn a good income through it.

Of course, the focus of this article is not only on Axie Infinity game. In the following, we will first discuss the concept of Play to Earn and then we will examine how such games work. At the end, we will introduce you some of the most successful Play to Earn games.

Economics in video games

Before we talk about Play to Earn games, it’s a good idea to take a look at the economics of conventional video games. Normally, it is not possible to make money from many of these games like Call of Duty.

The business model and revenue generation used in such games is like a one-way dead end street for users. In other words, money enters the ecosystem of these games through users, but it will never leave it.

This means that the user pays to play a video game and buys it. He may even pay extra to get extra in-game items.

However, the money that the user has entered into the game goes directly into the pockets of the creators, and as a result, it will not be of any benefit to its users.

Some companies also provide their games to users for free, and their main source of income is through in-game items that can be purchased.

Recently, the “Loot Box” or “Loot Crate” system has been established in various games, in which users can buy a chance box to receive certain items, which have a higher chance of finding rare items than Normal items are less.

This encourages players to buy more loot boxes to increase their chances of getting rare and special items.

But the problem is that although users spend a lot of money to get these special and rare items, they will not have any ownership over it.

In other words, if the game goes out of fashion after a few years or if the manufacturer no longer supports it, these items will have no value. Also, in many of these games, you will not be able to buy, sell and transfer these items.

So, as you can see, the economic infrastructure used in current video games is not very interesting and has two big problems:

1. That users are deprived of their huge profits.
2. And the other is that no one actually has 100% ownership of their own items.

This is where blockchain technology and digital currencies come in to solve these two big problems. Yes! you guessed right. Play to Earn games have been noticed precisely because of solving these two problems, and maybe in the future the major part of the video game industry will be these Play to Earn games with the ability to earn money for users.