Play to earn: Play and earn money in the Metaverse
MetaGames: Play to Earn
Surely your parents scolded you when you spent many hours playing video games telling you that it would not bring you anything good.
Tournaments arrived that changed this thanks to sponsorships and prize pools, but what totally revolutionized this is the play to earn.
In just one month, Axie Inifity has moved more than 20 million dollars. Source: Marketplace Axie Infinity
Today we will explain this play and win modality and how it has created a new economic model in the world of the Metaverse.
The economic success of video games
The gaming industry has had unprecedented economic growth. Although they always offered great profits to developers, the Internet 3.0 industry blew up the business, leading video games to become a business worth 152,000 million dollars.
Much of this profit goes to mobile game developers, who sell their gaming platforms through Google’s Play Store and Apple’s App Store.
In fact, the profits are so great that world-class companies like Apple, Google, Amazon and Netflix have created and are constantly developing their own versions of gaming platforms.
Players win too
In the past, the only ones who made a profit from video games were the developers, and of course at the expense of consumers, who all they did was spend while they had fun.
Now in the new play to era model, the players also have an important role in terms of earnings, leaving their role as economic liabilities, who only spent money in digital environments, to become winners outside the game with the play models. to earn.
The kings of Play to Earn: Axie Infinity and The Sandbox
This gaming model incorporates the open economy modality, where users are financially rewarded, who no longer only play to pass the time, but now do so for a very attractive additional value.
Play to earn games have changed the paradigm, in which the only thing that games were used for was to be entertained, now players can also have economic benefits for the time they spend in video games, which will only grow with so many giants of the digital economy industry joining both the Metaverse and the play to earn video game business.
Players can put their Axies (NFTs) up for sale via the Axie Inifity blockchain.
Games like Axie Infinity and the Sandbox are the most famous play to earn games, which in addition to having in common their great media impact, also share their earnings system for players, where the player must not only buy accessories within the game that They do not have any kind of value in the real world, but thanks to the blockchain, the profits made in virtual infrastructures that use these protocols can be taken to the “traditional” economic market, so to speak.
The games have incorporated their virtual rewards into the blockchain environment, which means that they can make transactions outside of them, that is, outside the video game’s own infrastructure.
Another way to obtain assets through video games is to sell the constructions that are made in the games as NFTs.
Now when your parents tell you that playing video games is not good for you, show them that the future is here with your cryptocurrency wallet and keep enjoying play to earn games.