The Top Pros and Cons of Play-To-Earn Games You Need To Know

Playing to earn games has given video game lovers more reasons to devote their time and funds to gaming. Since those NFT games began to gain more acceptance among young folks in several developing countries, players no longer see gaming as a mere hobby to pass the time during leisure moments. Instead, they take the game as a juicy source of income that can fetch them a fortune. 

Although, earning rewards in a video game has been in existence for a long time. But, these play-to-earn games come with a different twist. Back then, players got some on-screen rewards that never materialized in real life but only accumulated in their in-game wallets

Crypto game walpaper

At best, they can only manage to spend those in-game coins to unlock higher levels of more complex tasks or purchase some in-game assets that may fascinate the players but can only remain in the game. Whereas play-to-earn games allow you to earn some in-game tokens, which you can later convert6 into real-life cash to buy real estate assets, pay your daily bills, purchase goods from grocery stores, and more. How does that feel? Great!

The introduction of play-to-earn games has contributed immensely to the general acceptability of cryptocurrencies and Non-Fungible Tokens (NFTs). Also, blockchain technology has become more popular. As play-to-earn games remain at the forefront of modern technological innovation, the P2E industry has incorporated new technologies giving birth to more play-to-earn games in circulation.

Presently, there are hundreds of P2E games on the market. You can choose anyone easy for you to play with and start earning as much money as you can in the comfort of your home daily.

As play-to-earn games continue to enjoy the hype on the global scene, people seem not to talk about their impacts on people, jobs, and society. To give you a balanced view of these P2E games, here are the top pros and cons you need to know before investing your hard-earned money.

The Pros of Play-To-Earn Games 

1. Opportunity to earn real-life money

One thing that remains amazing about playing to earn games is that your in-game rewards can get into your real-life pocket. In the earlier days, players could only fantasize about converting their in-game rewards into real cash, but it could only be a wish. Then, players easily get frustrated in the long run after accumulating a reasonable amount of in-game coins that can be used to purchase virtual properties.

dollar walpaper

Play-to-earn games have changed that frustrating story as players can now get real-life re3ards for their time and efforts in completing complex tasks. P2E players make crypto and sell when the value soars higher or invest it to purchase some in-game assets, which would make the profits margin wider.

Play-to-earn games aim to provide payers with added incentives. These rewards are only for players who spend more time in the gaming environment, so you might want to stay for long to accrue more money. On the flip side, you might lose some competitions and lose your in-game earnings.

2. They develop the gaming community  

The newest play-to-earn games presently have one of the largest and most active communities in the gaming world. For instance, Axie Infinity, the currently leading P2E game globally, has a robust community of about 106 000 daily active users. That’s incredible for a video game environment.

The large numbers are increasing because play-to-earn games allow players to work together to complete complex tasks and split the rewards afterward. This initiative helps foster an excellent player-to-player relationship building a community of players with a shared goal. The shared reward opportunity will boost the gaming communities in the nearest future. Click here to read about What Is Cryptocurrency and Should I Invest in It?

3. They may increase blockchain technology acceptability 

The gaming industry has been increasing in value since late 2020. In 2021, it rose to a whopping sum of $173.70 billion, which was actually a great success for the gaming industry. It is also expected that the worth will soar to $314.50 billion before 2027. No doubt, gaming has become the most popular form of entertainment. In contrast, blockchain is nascent, but as the P2E gaming industry adopts blockchain …

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The Top Benefits of Bitcoin For Play To Earn Gaming Industry

Bitcoin and other virtual currencies are a global phenomenon with growing popularity. Today, many industries, including the play-to-earn gaming industry, are reaping the benefits of adopting Bitcoin. Such benefits include paying with this virtual currency anytime, anywhere.

beward hunters

Today, many people exchange fiat money for virtual currency to purchase goods online. Platforms like Bitcoin Mastery enable individuals to buy this digital currency using fiat money. After buying Bitcoins, you can use them to load your casino account and then enjoy playing your favorite play-to-earn game with the confidence of getting their in-game into their pockets in real-life cash. 

Essentially, Bitcoin and other electronic currencies enable individuals to conveniently pay for services and products. It provides an easy and safe payment medium for the online play-to-earn gaming sector. Beyond controversies, the play to earn the gaming industry is maximizing the advantage of Bitcoin’s credibility and acceptability.

What is Bitcoin? 

Bitcoin is a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank. Bitcoin’s creator, Satoshi Nakamoto, originally described the need for “an electronic payment system based on cryptographic proof instead of trust.”

bitcoin walpaper

Each Bitcoin transaction ever been made exists on a public ledger accessible to everyone, making transactions hard to reverse and difficult to fake. That’s by design: Core to their decentralized nature, Bitcoins aren’t backed by the government or any issuing institution. There’s nothing to guarantee their value besides the proof baked in the system’s heart.

How does it work?

Bitcoin is built on a distributed digital record called a blockchain. As the name implies, a blockchain is a linked body of data made up of units called blocks containing information about each transaction, including date and time, total value, buyer and seller, and a unique identifying code for each exchange. Entries are strung together in chronological order, creating a digital chain of blocks.

“Once a block is added to the blockchain, it becomes accessible to anyone who wishes to view it, acting as a public ledger of cryptocurrency transactions,” says Stacey Harris, consultant for Pelicoin, a network of cryptocurrency ATMs.

Blockchain is decentralized, which means it’s not controlled by any organization. “It’s like a Google Doc that anyone can work on,” says Buchi Okoro, CEO, and co-founder of African cryptocurrency exchange Quidax. “Nobody owns it, but anyone who has a link can contribute to it. And as different people update it, your copy also gets updated.”

While the idea that anyone can edit the blockchain might sound risky, it’s actually what makes Bitcoin trustworthy and secure. For a transaction block to be added to the Bitcoin blockchain, it must be verified by the majority of all Bitcoin holders. The unique codes used to recognize users’ wallets and transactions must conform to the right encryption pattern.

No doubt, the introduction of Bitcoin into the play-to-earn gaming world has a lot of benefits to offer. Both the players and developers have the opportunity to mine the leading cryptocurrency and sell for profits when the value rises. 

Obviously, the play-to-earn gaming industry is driving the growth of cryptocurrencies, but how beneficial are ‘cryptos’ to the NFT gaming community? Here you go!

The Top 5 Benefits of Bitcoin for the Play-To-Earn Gaming Industry

Instant Transactions

Some casinos offer bonuses or promotions with time limits. Luckily, Bitcoin eliminates the bureaucracies of loading an online play to earn games with traditional payment methods. Ideally, this electronic currency eliminates the inefficient intermediaries that online game players have relied on for years. Consequently, online players can load their favorite play to earn games instantly when paying with Bitcoin.

Also, online gaming software developers face difficulties when selling their products outside most app stores. Luckily, blockchain, the technology behind Bitcoin, enables them to process nano-payments, thereby receiving their payments almost instantly. Ideally, Bitcoin and blockchain simplify transactions for most players in the online play-to-earn gaming industry. You can read about Things to do to enjoy play-to-earn games by clicking here.

Playing Anywhere

Using Bitcoin enables players to play their favorite play to earn games anywhere without exchange rate or security issues. This virtual currency provides gamers with the option to play even without confirming their email or identity. …

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