Your game, your rules: the power of player ownership

Before you delve into the world play-to-earn (P2E) games.it is critical to understand the concept of NFTs. Imagine owning a unique piece of digital art, a virtual plot of land, or a scarce in-game item. The NFT serves as a digital certificate of ownership of such assets, verifying their authenticity and granting exclusive rights. Imagine you have a unique painting. You can show it to anyone, but only you are the real owner. Now imagine that you can create a digital version of this image and give it a special digital certificate of ownership. This certificate will prove that you and only you are the owner of this digital image. This digital certificate resembles a digital deed and is called an NFT.

An NFT is a unique digital asset that represents ownership of something, such as a piece of digital art, a song, a video clip, or even a game. NFTs are stored on the blockchain, which is a digital ledger that records transactions. This makes them sheltered and clear.

1. Creation: Digital assets such as artwork or in-game items are created.
2. Tokenization: These assets are converted into NFTs using blockchain technology.
3. Sale: NFTs are listed on marketplaces where buyers can purchase them with cryptocurrency.
4. Property: The buyer receives an NFT proving their ownership of the digital asset.

NFTs are like digital certificates of ownership of unique digital assets. They provide a novel way to own, buy and sell digital items, opening up invigorating opportunities for artists, creators and collectors.

Let’s get back to the topic play-to-earn (P2E) games.. These pioneering platforms expand the established gaming experience by offering players the opportunity to earn real-world rewards, often in the form of cryptocurrencies or non-fungible tokens (NFTs), while engaging in gameplay. Using blockchain technology, these games provide a clear and secure framework for tracking and verifying ownership of digital assets.

• Asset ownership: Players can acquire and own in-game assets such as characters, lands or items, represented as NFTs on the blockchain.
• Gameplay and rewards: By engaging in gameplay, completing tasks, or participating in battles, players earn in-game currency or tokens.
• Token exchange: These tokens can be exchanged for real-world currency or used to purchase other in-game resources.

These in-game assets that players earn through playing can be sold on NFT marketplaces, e.g Open Sea Or Binanceas scarce tokens, as opposed to regular games – where each item belongs to game distributors. The decentralized ecosystem will also support users with ownership and confidentiality as each in-game asset is considered an NFT.

• Financial possibilities: Players can generate income from their gaming skills and time investment.
• Digital property: Players truly own their in-game assets, allowing them to trade or sell on the markets.
• Community and social interaction: P2E games often create sturdy communities of players who cooperate and compete with each other.
• Innovation and experimentation: Blockchain technology enables developers to create pioneering and decentralized games.

Given all these advantages, it’s no wonder that play-to-earn games are booming in the world of NFTs and blockchain. However, there are also challenges in P2E gaming.

• Cryptocurrency volatility: The value of prizes earned may fluctuate significantly due to market volatility.
• High entry costs: Some P2E games require significant upfront investment in NFTs or in-game assets.
• Scalability issues: As P2E gaming becomes more popular, scalability issues may arise, leading to network congestion and high transaction fees.
• Regulatory uncertainty: The regulatory landscape for P2E gaming continues to evolve, creating legal uncertainty.

• Infinity Axia: A popular P2E game where players collect, breed and battle cute creatures called Axies. According to the official Axie website, Axies are fierce yet adorable monsters that you can fight, collect, and breed. Axie has an NFT and Blockchain based economy, so you can actually own in-game assets and even the game itself!

• Sandbox: A virtual world where players can create their own games and earn money from them. Pixowl launched Sandbox game in 2012 as a 2D pixel art game created to enable creators to share content, which has evolved with over 40 million downloads.

• Splinterlands: A collectible card game that allows players to earn rewards by battling other players. Splinterlands even offers playing card rentals with shrewd contracts. Rentals are made in one-day increments and are subject to cancellation. Funds are held in escrow using shrewd contracts to ensure lenders are fairly compensated. The cards are automatically returned to the owner at the end of the rental period.

Reservation: The information presented in this article is not intended to constitute investment, financial or trading advice and should not be considered as such. I do not recommend buying, selling or holding any cryptocurrency. Before making any investment decisions, please exercise due diligence and consult your financial advisor.