When playing traditional games, the player either naively or consciously adopts the free-to-play or pay-to-win business model. However, only these two similar ways were entertaining the participants. Due to the centralized nature of the majority of traditional games, they receive no compensation.
However, with the aid of inventive creativity on the blockchain, the gaming business has now undergone upheaval. The players can now gain perks from playing the games. New gaming mechanics have been introduced by blockchain or decentralized games. These two strategies are play-to-own and play-to-earn, which this tutorial will examine.
This method adopts a strategy for resolving issues in conventional games. While both strategies strive to give players rewards in addition to enjoyment, they also differ significantly from one another.
Explanation of Play-to-Earn Crypto Games
Play-to-Earn (P2E) features in an increasing number of cryptocurrency games enable players to accumulate in-game currency that can be exchanged for cryptocurrency.
P2E is brand-new to the GameFi ecosystem. People frequently play video games online when using programs or websites like Roblox or Minecraft. On the other side, the P2E movement goes a step further.
Blockchain technology can be utilized to employ cryptocurrency in gaming. In the past, playing video games was a way for people to relax, have fun, and interact with other people. Right now, you can take pleasure in gaming while earning money, which is an essential component of living.
Earning crypto tokens or non-fungible tokens of any type requires playing on a blockchain! (NFTs). You don’t have to buy pricey NFTs if you want to make cryptocurrency and participate in the in-game economy and business models.
Play-to-Earn (P2E) Crypto Games Examples:
Aavegotchi, The Sandbox, and Axie Infinity are some examples of play-to-earn games.
One of the most well-known examples of a cryptocurrency game is Axie Infinity, a game created on the Ethereum network. This game combines elements of blockchain gaming with video gaming. On some days when the economy was thriving, there was a lot of demand for the NFT marketplace. Axies are mysterious monster that was being exchanged for millions of dollars each.
Aavegotchi is a P2E game. It makes the claim to be an open-source, community-owned NFT gaming protocol. Users can engage in adventures with pixelated ghosts in a reference to the well-known Tamagotchi games. Minigames, Aavegotchi trade, and rarity farming can all be begun right once to gain tokens.
Another game in the P2E genre is called The Sandbox. The distinct gameplay experience offered by this platform allows users to receive a sneak peek at potential future developments for the Metaverse. The user has the power to experiment with, create, and mold the future. While they are fully absorbed in the experience, gamers can earn money from the game.
Explaining Move-to-Earn (M2E) Crypto Games
You must move and play games in order to earn cryptocurrency on the blockchain.
The move-to-earn tendency peaked around the time of the COVID-19 epidemic. Most folks were at home watching television or using a computer. Due to its emphasis on regular physical activity, which is essential for good health, M2E has become very well-liked. Technology users are now incentivized in a novel way for getting up and moving. For each action you take, you will receive cryptocurrency.
This M2E trend may change from “GameFi” to “FitnessFi” in the future because of the recent pandemic-related health difficulties and people’s desire to maintain a healthy lifestyle and stay active.
Several Move-to-Earn (M2E) Cryptogame Examples
Examples of “move to earn” games include STEPN, Sweatcoin, and MetaGym.
It’s a good time to expose you to some of the M2E games available as the move-to-earn market expands. A move-to-earn project in Solana called STEPN (GMT) is among the most well-known M2E cases.
The Web3 lifestyle app from STEPN incorporates SocialFi and GameFi. The project wants to make consumers healthier and wealthier by encouraging them to put one foot in front of the other. The founders, who took first place at the Solana Ignition Hackathon in 2021, aim to lead all M2E projects in the Metaverse.
Customers must purchase both an NFT and a pair of STEPN sneakers in order to start using STEPN. It’s crucial to get moving after finishing the first step and use a GPS gadget to track your progress. Later, you can exchange your in-game money for bitcoin.
The second project, called Sweatcoin, resembles the first one quite a bit. Jogging, walking, and, most importantly, working out is how a user earns cash. After 1000 steps, you’ll receive SWEAT, the platform’s own money.
The last M2E project example is MetaGym. Through an app or even a wearable program, you may sign up for MetaGym and start making money while doing out. By utilizing the platform’s GameFi, FitFi, and SleepFi features, users can earn MetaGym Coin (MGCN), the platform’s native token.
Even though MetaGym is committed to improving the world, they aren’t afraid to give you the chance to make money in the process. Users can earn cryptocurrency by finishing tasks like working out or obtaining enough sleep.
Play to Own vs. Play to Earn Gameplay Differences
Here are the key distinctions between the two gaming models.
1. Effect on the gaming industry:
Some of the strongest and most vibrant communities in the gaming industry can be found in play-to-earn, or P2E, games. The Axie community, for instance, boasts 106,000 daily active users for P2E games. In contrast to the latter model, the play-to-own concept is more recent, although this community is continuously expanding. The majority of play-to-earn games allow players to team up to complete quests and missions while also allowing them to divide prizes, which is one of the reasons why the community is expanding.
The play-to-own business model mostly concentrates on the single-player mode, which means it centers on the single player developing in the game and enhancing its assets by succeeding and completing the game’s objectives.
2. Value Distribution between the Player and the Operators:
The Play-to-Own strategy offers both players and game operators a better value proposition. Because of the advantages of the game, such as ownership security and long-term usage from value building, players may prefer these games to traditional ones.
The play-to-own business style gives the operators more opportunities to see contented and devoted clients.
The P2E strategy, in comparison, places more of an emphasis on the users’ financial gains from gameplay. Long-term players are possible for the P2E game operator, but there are fewer chances when comparing the play to own strategy. There are numerous P2E games as well; compared to the play-to-own model, the business model has more dispersed player groups.
3. Supporting the Blockchain’s adoption:
The varieties of games that are readily available in and for the gaming industry have contributed to its rapid growth. According to the Mordor intelligence research, the gaming market is expected to reach $173.70 billion in 2021. Furthermore, according to experts, the amount will reach its pinnacle at $314.40 billion by 2027. The play 2 Earn games have subsequently aided the blockchain’s development in its early stages and promoted the gaming industry’s most thorough use of the technology.
The play-to-own model is still relatively new, though. As a result, the game’s developers are still considering its possibilities, which keep blockchain growth behind the P2D paradigm.
4. The factor of Entertainment:
The earning mechanism is heavily woven into play-to-earn games, which has reduced their enjoyment value. Instead of modifying the model that provides the packers with greater involvement, the developers may focus more on offering the game’s economic model.
The play-to-own approach, however, subtracts points from the play-to-own vs. play and earns the Royal Rumble contest because the game’s producers must produce more captivating gameplay to draw players in. Compared to Sandbox players, Upland players have had more fun playing the game.
Additionally, because of the money element, it is much harder for users to unlock game assets, which adds to the excitement for the player. The majority of the time, all of these pointless game challenges ruin the player’s enjoyment of the gameplay and defeat the game’s main goal.
5. Asset Use:
The main distinction between these two models is their approach to asset utilization. The P2E model places a greater emphasis on earning, so players can use in-game assets to gain virtual money that can be used to make real-world purchases.
The play-2-own model’s assets, in comparison, place more of an emphasis on earning money and using it to upgrade the digital assets.
The two models’ differences were as follows. Last but not least, let’s have a look at some well-known applications of these models.
Examples of 3 Play-2-Earn Games
- Infinity Axie
- Game of WarCraft
Examples of 3 Play-to-Own Game
- Animal League
Both gaming models have pros and disadvantages. Therefore, the players can make a decision based on their preferences. The Play2Earn model offers more rewards to the players, while the Play-To-Own approach offers interactions, thus no model lags behind another.
For the benefit of the reader, every aspect of these two models, including their differences, has been briefly covered in the guide. The readers can select their preference after further analysis.
What is play to own?
In contrast, any digital possession made by the player in a play-to-own model always has a monetary worth because it may be sold on the open market or in a peer-to-peer exchange. People can feel a sense of ownership pride and security when they own something.
Play to Earn: Is it Profitable?
One of the main reasons play-to-earn games have become so well-liked is because players can enjoy themselves while earning currency with real-world worth. Another is to develop NFTs that have the potential to be valuable assets.
What does “play to earn” mean?
A business strategy called “play-to-earn” utilizes Blockchain technology. Simply put, users can participate in a game and possibly win cryptocurrency. Exactly how does this happen? Players can obtain potentially valuable in-game assets in play-to-earn games.