Play-to-earn. How does it work?
Play-to-earn is a new way of financial support. It is based on the idea that people are paid for their time playing games.
The players are rewarded with tokens called NFTs, which can be exchanged into currency or other assets.
Play-to-earn can be beneficial to both gamers and companies that want to hire people for specific tasks. Gamers get paid to play games they would have played anyway. Companies get free labor, which saves them money they would have spent on salaries.
Play-to-earn is a concept where users are able to earn in-game items, levels, or points through gameplay. The concept was first introduced by the Nintendo Switch game “Splatoon 2” in 2017.
The idea behind this is that people are incentivised to play more. Since they have the opportunity to earn the items they want rather than paying for them with real money.
It also opens up options for players who can’t afford to purchase expensive games but still want an enjoyable experience.
Developer Matic has recently launched a new game called “Gamefi”. It allows gamers to earn rewards while playing games on their computers, phones or tablets.
These games rewards players with tokens every time they play a game or perform actions within the game. The tokens can be redeemed for items in the store, services from other blockchain developers, or even exchanged for bitcoin.
Firstly, players are incentivized to engage with games and platforms that reward them with cryptocurrency. This also helps to create a market for virtual assets that’s more equitable. Secondly, a sustainable economy for developers who need a means of acquiring capital to fund the development of their games and platforms.