What are NFT or Play-to-Earn Games? - Cryptofamily

What are NFT or Play-to-Earn Games? - Cryptofamily
7 min read
08 September 2022

An NFT or play-to-earn game is a computer game in which you can win, earn, or buy unique tokenized digital objects that come into your possession. For example, such an object can be an awesome skin or a powerful spell that gives your in-game character a higher chance of winning, making playing the game more fun. Because these in-game tokenized digital objects actually come into your possession and have trading value, they can also serve as a form of investment According to Cryptofamily.

In this article, we will discuss what NFT or play-to-earn games are, what types of NFT games exist, and how they actually work.

What Types of NFT and Play-to-Earn Games are There?

There are many genres of computer games that can be developed as NFT or play-to-earn games. There is always a way to tie a win or the economy of a game to a certain cryptocurrency or NFT project. Such an NFT or play-to-earn game differs from traditional games, where you buy the game yourself and can perform microtransactions (for example to get loot boxes).

Any non-fungible token that the player purchases becomes the exclusive property of that player thanks to a smart contract on the blockchain of a cryptocurrency, and can be traded with other players or sold to investors.

At the moment there are already a few different genres in which (many) NFT games appear. More are expected to follow soon, but nowadays you can earn money by playing the following types of play-to-earn, NFT, and other blockchain games Cryptofamily:

Play-to-Earn Games

As a new player of an NFT game you can of course spend crypto directly to score a nice non-fungible token and skip the hard part, but in play-to-earn (P2E) games you can also earn them by simply playing. You then get tokens by playing the game, for example by carrying out assignments, defeating enemies, mining resources, or building certain constructions.

The disadvantage of taking this route is that it can take a long time before you have collected the desired amount of tokens. The obvious benefit is that playing a game is often more fun than mining crypto or trading NFTs on virtual marketplaces.

A few metaverse games that fall under the play-to-earn category are Axie Infinity (where you earn tokens by fighting fantasy creatures), Illuvials (where you try to capture aliens), and Thetan Arena (where the goal is to be the last player left in a battle arena).

Roleplay Games

Roleplaying NFT games or RPGs take place in an imaginary world, in which the player controls one or more characters. Often there are quests (missions) to be completed, enemies to be defeated and new story elements to be found. Players can also buy or trade non-fungible token weapons, armor, and other upgrades.

High fantasy (with wizards, knights, elves, and monsters) is a popular theme, but this category has a lot of variety. A special form is the MMORPG, in which sometimes hundreds of characters explore the virtual world at the same time. Nine Chronicles is an example of an NFT game that works on blockchain technology.

Sandbox Games

Sandbox games like Decentraland, and The Sandbox are perfect games for creative minds. With NFT game tools you build up new features in a 3D game world, which you can then offer to other players as a service or sell as non-fungible token. Think of character skins, creatures, attractions, minigames, and even virtual real estate.

Collecting Games

Collecting games (Sorare, Splinterlands, Kollect) are ideal for collectors. On these blockchain gaming platforms, you can endlessly build, manage and trade NFTs with other fans. You can also use the objects in your collection to play with or to generate a passive income by a concept called staking. Sports memorabilia, digital art, and battle cards are among the most popular items in this type of blockchain game.

Blockchain Technology

Crypto family Says The driving force behind all NFT and play-to-earn games is blockchain technology, which in turn is the technology behind the distribution and validation of cryptocurrency transactions. Blockchain technology creates a chain of data blocks that contain information and are linked.

These data blocks can include cryptocurrency transactions, as well as smart contracts for the purchase of non-fungible token items, such as game characters, weapons and skins, and even digital art and media files. Ownership of each NFT traded in a metaverse game is recorded (minted) on the blockchain. Because this information is recorded on the blockchain which has a publicly available ledger, the ownership rights of a non-fungible token are very well guaranteed.


Which cryptocurrencies are used in NFT and play-to-earn games?

This depends on which crypto can be used in the game you want to start with. For example, if the game is running on the Solana blockchain, you'll need Solana to play. Many NFT and play-to-earn games also have unique in-game NFT tokens that you can only use in that specific game. For example, to buy a non-fungible token at Thetan Arena you need the Thetan Coin (THC). These tokens can be bought in-game, at cryptocurrency exchanges, and at NFT marketplaces.

How do I play NFT or play-to-earn games?

This depends a lot on the type of game. Some NFT and play-to-earn games, for example, some battle arena games, have simple graphics and are compact enough to play on your smartphone. Other games have high-resolution graphics and lots of large menu screens and can only be played on your PC with a keyboard and mouse. The metaverse games where you walk through a 3D world are meant to be played with a VR headset so that you are literally present in the game world. Different specifications apply to each blockchain game.

Where to buy crypto for blockchain games?

According to Cryptofamily There are quite a few online cryptocurrency exchanges and brokers where you can buy cryptocurrencies for these games. Each blockchain game has its own type of cryptocurrency, transaction fees, and conditions. It is recommended to buy your crypto from exchanges with a good reputation and a high turnover.

Why should I invest in blockchain games?

In 2022 blockchain games are hotter than ever. Existing crypto games are growing rapidly, many new titles are coming soon, and major companies and brands are investing in this sector. As a result, many tokens that these games work with can quickly reach a much higher price. By earning tokens and buying unique assets and holding them until the value has grown, you can theoretically make a lot of money.

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Comments (1)
  1. Viktoria Morris

    I am not against good and quality games. And I'm not against crypto in general. But I would not combine these two things in the pursuit of profit. It's too situational. I prefer the reliable way - https://melbet.org/ Sports betting has transparent rules and reliable websites. These are the conditions of online business now.

    7 months ago ·
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