There is no easy way to answer the question of the future of NFT games or play to earn games. The simple truth is that the future is not inevitable, and you have to take it like that. However, it is the same way the future of cryptocurrency is not certain, yet it has remained with us for a while. The truth is that we relate the question of this certainty with our ability to control it. Each time we remember that the blockchain network is not centralized or dependent on any regulation, we doubt it.
Meanwhile, isn’t that what makes the platform secure? Isn’t the end-to-end encryption what makes the transactions safe and secure? Instead of focusing on the game’s risks, we should instead focus on the popularity of the play to earn games and the increasing number of players. As a result, we also know that the value of the in-game assets continues to increase as more players get on board. Moreover, as they play and earn the rewards, the rewards increase in value as trading occurs.
In addition, there are other NFT games from different genres within the play-to-earn gaming space. And even in countries where it is easy to make a living off playing these games, people can also get aroused interest without a break. You may also discover the essence of each gaming activity within the game. For example, is it safe and secure to invest in the play-to-earn NFT game?
Is it safe to invest in play to earn games?
The question of the future of cryptocurrency games or play to earn games cannot be divorced from how safe investments are in the environment. Most NFT games demand players to pay an entry fee as a form of investment into the game. It is an investment because you can earn back your money from the reward system in cryptocurrency. And if you like, you can convert it back to real fiat currency. It is only normal that you should invest if you expect to make a profit.
Therefore, the next time you consider play-to-earn NFT games, you are not just thinking of mere games but real investments. The investments are not only about the immediate but for the future as the price of cryptocurrency continues to change. When we bring in the perspective of an investment, it then calls for a careful analysis of the market before investing. At the same time, gaining knowledge about the game is another way of gaining more confidence.
What is the role of Blockchain in Play to Earn Games?
Blockchain technology is the platform host for this gaming system. And while the ore idea of the play-to-earn model for these modern games is not strange, there are massive options of game genres available. Some online massively multiplayer online role-playing games (MMO-RPGs) are already available based on fiat currencies. However, the cryptocurrency opens an entirely new space for gaming investment and can only be found on the most secure platform – the Blockchain.
As for the cryptocurrency games, there is a vast difference in these games in terms of blockchain technology. It is also easier to address the related issues that need to be resolved, such as the rarity and provenance. These games on the blockchain network simplify the transaction and record them on the immutable database. Without the governance of this unique network, assets are centralized on a single vulnerable platform.
However, the blockchain network uses a decentralized set of computers where each node carries a copy of the entire dataset. Also, it prevents the possibility of data manipulation, deletion, omission, and duplication of whatever makes the alternative method vulnerable.
The Connection between Blockchain NFT Games and the Metaverse/Web3 Ecosystem
Another great property of the blockchain-based games in the play-to-earn model is their ideal precedence through the metaverse/web3 trends. In the latest world of technology, there is a pronounced decentralization of data that web3 brings about. Therefore, as decentralization becomes the unique selling point for play to earn games, a blockchain foundation ensures the value of the token-based economy is preserved in all cases.
It also uses a financial framework that utilizes different crypto assets embedded in the game. These assets may involve stable NFTs to the farthest imaginable assets like cryptocurrencies. When the player continues to accrue these NFTs and trade them across different platforms, they can get the proper support, especially for native tokens. However, it requires participating in the Web3 games. Then the tokens may be locked into smart contracts on the blockchain network.
How different Play-to-Earn Economies Work
In the play-to-earn gaming economy, the developers must think beyond the immediate profits of the game. The design must factor in the balance between buying and selling and the values they can potentially derive from trades. In other words, both the game players and the game developers see each other as partners. At the same time, the player’s role in this partnership is to hold on to the valuable assets and distribute them appropriately by trading.
As this process takes place, the assets available and value growth ensure that more players can join the game. At the same time, the game increases in demand, where the NFT collection of a player can continue to grow in number. By implication, the developer’s profit also grows because he earns from every transaction. However, the game developers also need to take note of some crucial areas.
Creating unique NFTs has a cost that also needs to pay off. When the developer makes money from any transaction, that is a form of reward for creating the game; in other words, when an NFT changes hands from one gamer to another, it amounts to profit for the developer. For example, an NFT skin may have a royalty fee set at 5% of the transaction fee. Part of this trading fee belongs to the developer, and he continues to make money each time that NFT is sold to a new player.
In that case, the developers usually set a profitable fee to encourage the players to increase their assets. However, another issue arises with the free games that give cryptocurrencies to their players? The developer’s profit may come from running and displaying ads through the app to players. In the case of free play, many players will continue to spend a lot of time there, which may mean more crypto for all parties.