Play To Earn
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TLDR below. This is not financial advice.
The NFT market is a rather modest field when its appeal is limited to simple gaming. You buy an item and expect it to be worth more in the future, but it lacks the interactivity between the player and the game.
2021 can be said to be a “Welcome to the World of Play To Earn” year because it has opened up a wave of NFT gaming trends with a lot of positive information surrounding it also created many record numbers in the crypto market.
Leading the way for deeper game interaction is the Axies project and following many other NFT projects participating in the “play2earn” game that has brought the entire Ethereum network to life. Since then, many new projects have begun to expand across other Chains to optimise costs and bring more interesting experiences.
What Is Play2Earn?
Play-To-Earn is a combination of two actions Play & Earn, which means both playing games and earning money. Gaming has been around since the 1970s, each phase has a face of innovation & in 2021, a unique combination of NFT and traditional gaming takes place, giving users (both crypto & non-crypto) a unique experience. new play to earn experience.
Play to Earn has been around for a long time, for many 8x, 9x generation gamers, the game Silk Road is a good example, you can transform into simulation characters, fight & raise account rank, buy and sell weapons, participate in hunting prizes, etc. If you can “plow” to become a terrible level, many powerful weapons can be sold to make money.
What Is Different About Play2Earn In Crypto 2021?
Thanks to blockchain technology and the advantages of the Crypto market, the Play to Earn model has now been improved, specifically:
Gaming operators have incorporated NFT in their protocol.
Improve ownership of in-game assets for users.
Players are creating value for other players and developers, in return they are rewarded with in-game assets (native tokens/NFTs).
NFT and Play to Earn are very hot topics in recent times and that is also one of the reasons why transactions on the Ethereum network have become active again.
Gas Used By Smart Contract
As you can see in the smart contracts on Ethereum that use the most Gas in the past 30 days, Top 1 and Top5 belong to Opensea- The largest NFT Marketplace platform on the market today, Top 4 belongs to Ronin Bridge by Axie Infinity.
Specifically, for Opensea, which protocol currently maintains GAS consumption at $5-6M and shows no signs of cooling down.
Similar to Ronin Bridge of Axies, when the amount of GAS consumed also peaked and showed no sign of stopping.
Thus, with the continuous growth and no signs of stopping of NFT on Ethereum, Axie Infinity and OpenSea have made the network more active.
In 2021, we have seen an increase in trading volumes on NFT Dapps, peaking at $86M in March. Currently, it is holding at $38-$39M for the last 3 months.
Axies Infinity ($AXS)
With a play-to-earn model, Axie Infinity is a name that brings a new wave with successful development in the past time. This is a Crypto project conceived by Vietnamese team & launched in 2018. Axie Infinity is built on Loom Network – a Layer 2 scaling solution for Ethereum. Inspired by the popular game series Pokémon and CryptoKitties, players in Axie also need to do quests, battle, and exchange items with other users at the Marketplace.
Each Axie in the game can be purchased and owned as NFT (Non-fungible token), the player needs to raise them with $SLP (Small love potions). NFT & $SLP items are all exchangeable to $AXS and trade them for profit.
Game Axie Infinity is played not only for fun but also for money, these criteria have affected the majority of Filipinos. In particular, during the Covid 19 epidemic season, Axie’s hotness spread even more. From the elderly to young children, everyone downloads & plays games to earn money, which has helped Filipinos have a great source of income in the most difficult time.
AXS is a utility token representing Axie Infinity that serves as an in-game reward & exchange item.
Axie Infinity is built on top of the Ethereum Blockchain, so Axies encoded into NFTs will be recorded in the protocol & player ownership of Axies is guaranteed.
Allows players to build (Land) and raise Axies, breed (Breed) them, and participate in the Decentralised Marketplace with users worldwide. Here you can trade/exchange unlimited game items.
The game operation mechanism is quite simple, so downloading & playing is not too complicated, so anyone can participate.
My DeFi Pet
It can be said that My DeFi Pet is a project successfully nurtured & developed by the KardiaChain team with the Handshake with strategic partner Topebox – Vietnam’s leading game developer with a series of hit games like Sky. Dancer, Face Dance, Pocket Army, etc.
This is a game project built on the KardiaChain blockchain, combining traditional games and DeFi. My DeFi Pet is launched globally in mid-May 2021, based on Decentralised Finance (DeFi) and Non-fungible (NFT) feature that users can earn DPET tokens by playing games, farming monsters & sell those items for profit.
DPET is the native token of My DeFi Pet, plays a role in governance (voting), staking, claiming when completing tasks and as an exchange asset in Gaming Space. Success followed when IDO $DPET reached ROI ATH at 128x (according to Cryptorank). Also expanding liquidity for players after the event.
Let’s find out the outstanding features available in My DeFi Pet, specifically about the Gaming NFT pet feature:
Collect: Each pet will be created after 24 hours, you can collect it by participating in the auction of new characters with DPET tokens.
Breed: This feature helps players to breed any 2 pets to create a new Pet & inherit features from the host.
Evolve: Each Pet will have a different function & level of evolution, players can level up their Pet by feeding them DPET tokens.
Battle: This feature was added by the dev team & is being tested on My DeFi Pet.
Trading: Participants can also trade, buy, sell or transfer ownership of NFTs in Gaming Space, to increase their collection, or collect them.
Seasons and Events: Collect and upgrade pets to qualify for prizes.
In today’s list, I will talk about Alien Worlds ($TLM) – a Metaverse Gaming NFT based on DeFi feature. The game simulates planets in virtual space, each planet will have its own rare resources & these planets all need operator and control (Planet DAOs).
Players participating in Alien Worlds need to use $TLM to upgrade their ranks through staking or voting according to the Planet DAOs mechanism. Also, it is possible to own $TLM by mining and staking them. Not only players but planets are also rivals for the common goal of capturing $TLM, quite similar to Axie Infinity, My DeFi Pet, etc.
Trilium ($TLM) is a representative token of the project and also a “ticket” for players to participate in the gaming space. It has developing signs shows that the number of people participating in Alien Worlds is increasing, the fun & real value that $TLM brings is attracting players around the world. Around the world.
With Alien Worlds, you can role-play as space warriors, do missions & exploit NFT DeFi.
$TLM holders can stake to participate in governance, mine $TLM, NFT & reap rewards.
Participate in other Battles and upgrade items in space.
We can see that the Play-To-Earn trend is growing strongly, especially in the current market situation, both owning NFT (True Ownership) characters and valuable token rewards. , but can that happen in the long-term when the cash flow has already begun to “stagnate”.
With the blockchain being widely recognised, it is possible that many large funds will start to participate in this game, the money may flow in the future & NFT Gaming projects are one of the most popular categories. The attraction and potential of Play To Earn projects are feasible, but not in the short term and depends on each project.