What is P2E? Blockchain-Based P2E Games
P2E is the abbreviation of the term “Play-to-Earn”. On desktop and mobile games, players earn rewards such as points, coins and virtual money by completing certain tasks. The prizes won in a P2E virtual environment can be converted into real money. This business model allows users to earn additional income by playing games. If you have questions like what is P2E or how do P2E games work then you will find the answers in this article.
What is a blockchain-based game?
With the global development of the game industry and widespread adoption of blockchain technology, game developers have begun to integrate blockchain technology into their projects. Using blockchain infrastructure, they provide users with a rich gaming experience and the ability to benefit from a tokenised system. In blockchain-based games, the assets that users create and earn in the game are stored on the blockchain. Thanks to this, players and creators become the true owners of their assets. Since the blocks in the blockchain are immutable, there is no possiblity of deleting player data.
It’s also possible for users to transfer their assets between different blockchain-based games. Blockchain technology facilitates asset transfers between players and saves player-earned scores in blocks. For blockchain-based games, the likelyhood of fraud is minimal because the transactions are auditable on the blockchain. Players are also offered the opportunity to earn rewards by using the P2E model in blockchain-based games.
What is a P2E (Play-to-Earn) game?
Play-to-Earn is simple concept — you earn rewards from playing games. Players can have fun and gain an income stream at the same time by playing games as a hobby. Users can earn coins to create an income stream just by playing regular games. Project developers create a marketing strategy when they publishing their games under this business model. Although the Play-to-Earn has existed for a long time, it has started to be implemented more with the increase in the use of blockchain technology and adoption of cryptocurrencies.
How do P2E games work?
Players are rewarded under the P2E business model based on the time they spend on a game. Users can earn in-game cryptocurrencies by completing in-game tasks. NFTs are often also included in P2E games. These NFTs consist of in-game characters or items like cards. Players can earn income by trading these NFTs.
P2E game projects listed on BtcTurk | PRO
AXS — Axie Infinity
Axie Infinity, a notable project that employes blockchain technology in gaming, is a blockchain-based battle game. By owning Pokemon-like digital creatures (Axies), players can raise them, trade them, and use them to fight their opponents.
Axie Infinity uses the Ethereum blockchain. The main digital asset on the platform is an ERC20 smart contract built on the AXS Ethereum blockchain. Axies, one of the cornerstones of the game are created as ERC-721 smart contracts − a standard format for blockchain-based games and NTFs.
The 3D, navigable and scarce area of the Decentraland virtual world is called LAND. LAND is a unique digital asset (NFT) generated as a smart contract on the Ethereum blockchain in the ERC721 format. Like real world, the land in Decentraland is divided up into plots − what the developers call parcels. These parcels can be purchased with Decentraland’s digital asset, MANA. ‘Users can build or host events on the land they have purchased
Gala develops various genres of games for players. You can purchase these games on Gala’s web-based game platform or access free/trial versions from the Gala web application. You can open a free account on the Gala app to access the games. You can access in-game products from the store section of the Gala app. In order to purchase in-game items or characters, you need to link an Ethereum wallet to the Gala web application and transfer GALA and ETH to your account.
The Sandbox (SAND)
The Sandbox is a blockchain-based virtual world gaming platform. It offers players the opportunity to create virtual life experiences, produce in-game products and earn income from these products in the VR compatible game world, called Metaverse.