Play-to-earn in cryptocurrency
Blockchain games have come a long way, evolving from simple NFT trading to enabling various earning opportunities in crypto games. With the emergence of the Play-to-earn industry, players now have the chance to earn income through gaming.
With the influx of liquidity into cryptocurrency, the concept of Play-to-earn and tokens in this sector might present significant capital growth opportunities.
What is Play-to-earn
Play-to-earn games offer communities the opportunity to earn cryptocurrency by engaging in familiar gaming activities. Early blockchain games raised doubts about the concept of earning income. However, as the industry developed, the likelihood of earning income increased due to well-designed in-game tokenomics and business models.
Play-to-earn (P2E) refers to games that include mechanisms for earning income. These are blockchain games where you can earn digital assets for specific actions and then use them as you wish.
Most P2E games combine elements and gameplay mechanics from traditional video games. You can play shooters, arcade games, adventures, or compete in tournaments. These games are available on both smartphones and PCs.
How Play-to-earn games work
As mentioned earlier, Play-to-earn games combine in-game actions with financial instruments from the GameFi category. The latter provides financial incentives for gaming and progress within the game.
Play-to-earn games typically involve repeating specific actions to generate income. Let's explore the various ways you can earn income in these games.
How to earn in Play-to-earn games
Earnings in these games can be generated in various ways, each with its own characteristics. Let's go through each of them sequentially.
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In-game Cryptocurrency
The model in such games is built on completing tasks, usually on a daily basis. For completing these tasks, you receive rewards that you can use at your discretion.
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Selling In-game NFTs
You can sell the in-game NFTs you acquire, which could represent game objects, your character, a spaceship, or any other collectible items. The type and purpose of the item depend on the specific game. These objects can change appearance or even affect gameplay.
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Staking
Perhaps the most popular way to earn in Play-to-earn games is through staking. You can lock up your NFTs or in-game cryptocurrency, earning rewards in return. For example, staking NFTs may allow you to participate in raffles for random NFT collections of varying rarities.
How to Start Playing Play-to-earn Games
Each Play-to-earn game has its own requirements for new participants. The first and most obvious step is to create a cold wallet. For example, this could be Metamask. Before starting the game, make sure you have correctly installed and configured Metamask.
Next, you need to decide which genre interests you the most. Some popular games include:
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Smooth Love Potion (SLP)
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Alien Worlds (TLM)
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Axie Infinity (AXS)
After choosing a game, you will need some starting capital, which can be used to purchase items or NFTs that are used in the game.
Each game has its own entry threshold. Carefully research the project (DYOR) to avoid potential risks.
Once you have completed the steps above, you can start completing tasks or join the management team to earn in-game tokens and, when the altseason arrives, sell them for a significant profit.
Top Play-to-earn Coins for 2024
Currently, the Play-to-Earn industry, like most altcoins, is going through challenging times. Nevertheless, through wallet analysis, it was found that large capital is showing interest in certain tokens.
Whale accumulates Axie Infinity (AXS)
Axie Infinity (AXS) is the token of one of the most popular games where users create their own creatures inhabiting a fictional world.
As of today, the asset is trading at -97% from its all-time highs (ATH).
Despite the drop, large capital is accumulating the asset through several of its wallets.
Since June 2022, it has been transferring them from CEX exchanges to its addresses:
The value of the tokens accumulated by the wallet holder is $7.26M:
Explore the whale's wallets:
Large holder of Gala
Gala is the utility token of the Gala Games ecosystem, where players own NFTs and influence platform governance. Through voting, users can decide which games will be added to the platform and which will receive financial support.
An early holder currently holds tokens worth $14.51M in their wallets. Since May 2023, they minted the tokens and have been holding them since.
Minting is a transaction that adds new units of cryptocurrency into circulation, typically as a result of staking or mining.
Check out the wallets of the early holder - here
Large capital buys up Mines of Dalarnia (DAR) token
Mines of Dalarnia (DAR) is an action blockchain game with a blockchain real estate market. Players mine and combine in-game items to enhance their characters and raise their rank. The game also features hunting for rare artifacts, quests, and much more to defeat monsters and earn rewards.
Since July, large capital has become active and started withdrawing tokens from the exchange:
One of the first wallets in the chain added $0.5M worth of DAR tokens to its balance on July 17:
Currently, the value of his assets is estimated at $2.53M!
Explore the wallets of the large holder:
NOTE: This information should not be taken as a call to purchase. We do not provide financial advice. Be aware of the risks!