How to Pick the Right Play-to-Earn Game – Crypto Trendings
Thursday, March 23, 2023
Crypto Trendings
  • HOME
  • News
  • Bitcoin
  • Altcoins
  • Business
  • Tech
  • Industry
  • Interviews
  • Press Release
No Result
View All Result
Crypto Trendings

How to Pick the Right Play-to-Earn Game

Crypto Trendings by Crypto Trendings
February 14, 2022
in Press Release
Reading Time: 2min read
How to Pick the Right Play-to-Earn Game

It’s no secret that gaming has turned from a passive hobby to a multibillion-dollar industry. According to Accenture, the global business is currently valued at over $300 billion, driven by an influx of new gamers looking for social interaction.

With the rise of the blockchain, the industry paradigm has changed. Instead of money going only to game developers and distributors, players can now generate an income from cryptocurrencies or non-fungible tokens (NFTs) using their computer or smartphone in play-to-earn games. The trend has even reached the major game distributors, with Ubisoft announcing plans to launch NFTs into the next Ghost Recon game.

Related posts

Dominator Domains, a Web3 innovative platform where users can register domains in 3 different blockchains and 10 different domain extensions

Dominator Domains, a Web3 innovative platform where users can register domains in 3 different blockchains and 10 different domain extensions

March 23, 2023
FameEX launches Global Affiliate Program, offering an attractive rebate ratio of up to 90% and an exceptional commission system

FameEX launches Global Affiliate Program, offering an attractive rebate ratio of up to 90% and an exceptional commission system

March 22, 2023

What are play-to-earn games?

In many games – especially Massive Multiplayer Online (MMO) games – players collect digital items to further their progress. These can include in-game objects like weapons, property or wearables. They’re usually earned as rewards for completing quests and challenges, or acquired from loot boxes bought with real currency. From various skins to in-game currency, items let gamers customize their characters with new outfits and better equipment, but none of these can be sold to other players for cash.

This is where play-to-earn games – or GameFi – come into play. Leveraging the immutability of blockchain technology, game designers can create in-game items and rewards that are provably unique and transferable. Rewards can range from earning native digital currencies to collecting NFTs or be earned from staking. In turn, coins can be exported to crypto wallets to be converted to fiat currency like U.S. dollars, while NFTs can be sold to other players via in-house trading platforms or secondary marketplaces.

The popular play-to-earn game X10 Legends, for example, allows players to purchase, battle and minted heros exclusively on the BSC blockchain. Because each hero is represented by an NFT, they can be bought and sold peer-to-peer using cryptocurrency.

How to pick the right play-to-earn game

Once you understand how play-to-earn games work, you can start looking for one (or several) that works best for you. With hundreds of play-to-earn games already out there (and hundreds more in development), the question is, how do you find the best one for you?

The key to this is all about the fine print. Before you jump in, you need to understand how rewards are paid out, how you can convert in-game coins to other cryptocurrencies and what you actually want to gain from your experience.

X10 Legends

X10 Legends is currently the latest blockchain game where players earn rewards in SHL, a form of crypto tokens which can be exchanged for real money. Players will be able to buy or collect various card packs of NFT loot boxes to obtain their favorite Chinese Martial Arts heroes. The combat power of the player is increased by upgrading the cards and card or joining clans. With a higher total combat power, players can also mine more rewards from the game through the in-game Card Staking function.

By introducing a dedicated marketplace, NFTs and blockchain technology, the trading of NFT assets are more secure and represents the players’ true ownership. Players can also put their NFTs up for sale on the in-game marketplace.

Bottom line

While play-to-earn crypto games can be profitable, they often come with both an initial monetary investment and a time cost to learn the game and grow your investment. By doing your due diligence and preparing to go long in your GameFi experience, it’s possible to have fun and earn valuable cryptocurrency rewards for your time.

Previous Post

The First Decentralized Blockchain-based Hunting Metaverse launched by MetaShooter

Next Post

Soulmapes NFT To Launch A One-of-a-kind Bridge of Love in the Metaverse

Next Post
Soulmapes NFT To Launch A One-of-a-kind Bridge of Love in the Metaverse

Soulmapes NFT To Launch A One-of-a-kind Bridge of Love in the Metaverse

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Cubans Turn to Bitcoin Remittances with 25% Commission to Beat Blockade

Cubans Turn to Bitcoin Remittances with 25% Commission to Beat Blockade

2 years ago
Binance’s first-ever launchpad token is taking shape, and why are we more bullish than ever?

Binance’s first-ever launchpad token is taking shape, and why are we more bullish than ever?

2 months ago
CoinGecko Joins the RFOX VALT as a Marquee Client as It Enters the Metaverse

CoinGecko Joins the RFOX VALT as a Marquee Client as It Enters the Metaverse

1 year ago
$FUNDS The First Cryptocurrency Backed by Real World Lotteries

$FUNDS The First Cryptocurrency Backed by Real World Lotteries

1 year ago

BROWSE BY CATEGORIES

  • Altcoins
  • Bitcoin
  • Business
  • Industry
  • News
  • Press Release
  • Tech

BROWSE BY TOPICS

Altcoins Bitcoin Business Industry News Press Release Tech

POPULAR NEWS

  • Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    0 shares
    Share 0 Tweet 0
  • A ONCE IN A LIFETIME OPPORTUNITY TO OWN A PIECE OF HISTORY AND PUT YOUR NAME INTO THE METAVERSE

    0 shares
    Share 0 Tweet 0
  • FLUSH WIN ANNOUNCES NFT GAME PROJECT AND CITY CASINO

    0 shares
    Share 0 Tweet 0
  • The Mercedes Benz G-Wagon, Jungkook’s beloved car from BTS, is up for auction

    0 shares
    Share 0 Tweet 0
  • While all crypto is bearish, YES WORLD Token Price jumped by 10% in 24 hours

    0 shares
    Share 0 Tweet 0
Crypto Trendings

We bring you the latest news in the crypto and finance industry. We envision the goal of completely decentralised future.

Reach us at:

[email protected]

BITCOIN NEWS

Expert Reveals “Best Bets” Against Impending Economic Collapse

Expert Reveals “Best Bets” Against Impending Economic Collapse

July 28, 2022
Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

July 27, 2022
Why UST’s crash has experts talking and taking different sides

Why UST’s crash has experts talking and taking different sides

May 16, 2022

ALTCOIN NEWS

Ethereum price faces resistance at $650, can ETH break above?

Ethereum price faces resistance at $650, can ETH break above?

December 21, 2020
New withdrawal mechanism for ETH2 stakes ‘under discussion’

New withdrawal mechanism for ETH2 stakes ‘under discussion’

December 15, 2020
Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

December 16, 2020
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Crypto Trendings

No Result
View All Result
  • Home
  • Industry
  • News
  • Business
  • Bitcoin
  • Interviews
  • Tech
  • Altcoins

© 2020 Crypto Trendings