Next, players generate income by selling in-game NFTs or earning cryptocurrency rewards, which can be exchanged for fiat money. In gaming-to-earn games, game assets are distributed among players. By participating in the game economy, players create value for other players and for the developer. Play-to-win games are virtual economies in and of themselves.
They have their own cryptographic tokens, which are based on the blockchain of a specific cryptocurrency (such as Solana, Ethereum or its Polygon Layer 2 chain, or Immutable X), and their tokenomics (the supply and demand of their currency) varies. The specific features of the model and economy of each game vary, but all of these game assets have the potential to provide some type of monetary benefit to their players, whether because they won a fight and won cryptocurrency, sold an in-game NFT at a market, or charged a rent to another player for staying in their virtual land. When a player signs up to play on a crypto gaming platform, they must pay a commission for the purchase of the game's digital currency. This is mainly how game developers make money.
When more players buy the native token, its value increases, which benefits both players and developers. Gamers have also enjoyed the opportunity to earn money playing video games, so much so that some have decided to leave their full-time jobs to dedicate themselves to games. Players should consider the volatility of cryptocurrencies and the time it would take to start earning a significant amount with games. It's just about finding new ways to finance and monetize gaming activity that aren't entirely good, but that are good enough to involve people and open up their wallets a little.
Often, dedicated player groups even come together to form a decentralized autonomous organization (DAO) to encourage greater community creation among the player base of a P2E game. In Ember Sword, the next massively multiplayer online role-playing game (MMORPG), players will be able to submit collectible NFT designs and, if selected, they will be added to the game, allowing artists to earn royalties from secondary sales in perpetuity. The main selling point of play-to-earn games is: “Hey, playing this game you can win cryptocurrency. In general, you could win between 10 and 20% of the chips wagered per year, depending on the game and the value of the chips.
Some of the most popular crypto games are monster fighting games and trading card games, but you don't need to jump into that genre if it's not your thing, as there are a lot of games to watch before investing your time in cryptocurrency. In Bomb Crypto, new players can win between four and five BCOIN, the game's currency, per game in Treasure Hunt mode. All of this went so far that the Philippine government announced that people who play this game for a living must start paying taxes. Equally important are the “minnows”, that is, people who spend little or no money on the game because they make the whales feel more important, since they offer a point of reference against which whales compare themselves and, therefore, encourage them to play more and spend more money.
However, it's important to remember that playing a game to make money is an investment of time and money. Now, with the advent of blockchain-based games, the marketing director of Bright Star Studies, Sune Thorson, explains: “A gaming company no longer needs to be the one selling the masks to make money. From renting NFT characters for profit to betting chips, there are plenty of ways to win in blockchain games. These games were among the first to have their own virtual economies managed by players, allowing players to exchange items with each other, acquire wealth, cultivate specializations and sell their services.