Play-to-earn (also written as P2E) games pay their players for winning games, completing tasks, and selling or renting some of their assets in NFT form. Some games even let players cash out their crypto earnings for real-world money.
With play-to-earn games, users have the power to farm and accumulate NFTs and cryptocurrencies, which they can then sell or trade on the market later. Playing play-to-earn games enables users to generate income by collecting, then selling, objects and tokens.
Players in certain areas have started to supplement, or even replace entirely, their salaries through play-to-earn games. Axie Infinity, based in South-East Asia, is just one example. But while play-to-earn games become increasingly lucrative, the financial entry barrier could increase at the same time, offering players weaker rewards for taking part.
Regardless, play-to-earn games demonstrate the power of the Metaverse’s player economies, bringing users fascinating new economic opportunities within a whole new environment.
A number of these economies may be built without input from the Metaverse creators: communities run by players are already gating events with community NFTs, paying builders with community currencies based on the blockchain, and rewarding members and participants with those same cryptocurrencies and NFTs.