What Are Play-to-earn Crypto Games?

How Do Play-to-earn Crypto Games Work?

Play-to-earn crypto games operate by utilizing blockchain technology, such as Ethereum or Solana, as the foundation for their platforms. Through blockchain, game developers can create digital items such as weapons or characters. Each of these items possesses its own unique identity, which players can own.

These in-game items undergo tokenization, a process where they are converted into digital tokens. This ensures that players maintain true ownership over the items they earn in the game. Take Jenna, for example, an enthusiastic player of Axie Infinity.

Jenna has amassed a collection of rare creatures known as Axies while playing the game. Each Axie represents a special digital item, and Jenna possesses all of them. Jenna has the opportunity to turn her virtual assets into real-world money. She can achieve this by selling her Axies on the game’s marketplace or other platforms. These digital items hold tangible value, making them valuable assets for players like Jenna.

Additionally, Jenna can convert her in-game tokens into traditional currency through cryptocurrency platforms like Kraken. This allows her to transform her gaming achievements into substantial monetary rewards, providing her with a tangible return on her time and effort invested in the game.

Best Play-to-earn Crypto Games

1. Axie Infinity (AXS): Axie Infinity is a game where players collect, breed, and battle digital creatures called Axies. Players can earn Smooth Love Potions (SLP) by winning battles and completing quests, which they can use to breed Axies or exchange for cryptocurrencies like Ether (ETH). The game also features its utility token called Axie Infinity Shards (AXS), which players can use for payments and governance.
2. Aavegotchi (GHST): Aavegotchi combines NFT collectibles with virtual pets, allowing players to own, trade, and customize digital creatures stored as NFTs on the blockchain. The game’s native utility token, GHST, facilitates various functions within the ecosystem, such as staking, governance, and purchasing in-game assets.
3. Decentraland (MANA): Decentraland is a virtual reality platform where users can explore, create, and monetize digital experiences. Players can buy virtual land, create unique assets, and earn the platform’s native digital currency, MANA, by participating in the virtual world.
4. Gala Games (GALA): Gala Games offers a variety of games within its ecosystem, allowing players to earn rewards by playing, completing tasks, and building in-game assets. Players can earn GALA, the native currency of Gala Games, which they can trade and use within the ecosystem.
5. Yield Guild Games (YGG): Yield Guild Games is a decentralized autonomous organization (DAO) focused on play-to-earn games. Players can join the guild, earn income by playing supported games, and participate in the guild’s activities using the native governance token, YGG.
6. Merit Circle (MC): Merit Circle enables gamers to loan in-game assets to new players through “scholarships,” reducing barriers to entry for popular play-to-earn games. The protocol operates as a DAO, with governance decisions driven by the MC token holders.
7. My Neighbor Alice (ALICE): My Neighbor Alice is a multiplayer blockchain game where players can build and interact in a virtual world. Players can earn rewards by completing tasks and contributing to the game’s ecosystem using the native cryptocurrency, ALICE.
8. The Sandbox (SAND): The Sandbox is a metaverse world P2E game where players can create, share, and monetize their own interactive experiences. The game’s native cryptocurrency, SAND, facilitates transactions, purchases of virtual land, and rewards for creators.
9. Star Atlas (ATLAS): Star Atlas is a massively multiplayer online game set in a blockchain-based virtual universe. Players can explore space, engage in battles, mine resources, and trade assets while earning rewards in the native cryptocurrency, ATLAS.