The arrival of blockchain technology into games has ushered in a new era in gaming that transcends fun and excitement to offer genuine economic opportunities. Players earn in-game items that have real-world value and can be traded on cryptocurrency exchanges and NFT marketplaces. Success in the space requires a blend of passion, education, and strategic planning.

Unlike in traditional RFT betting where the in-game currency, avatars and weapons are owned by the game developer, crypto gaming offers true ownership of digital tokens on the blockchain. The blockchain enables a decentralized market for in-game items, allowing players to trade on NFT marketplaces or even convert them into traditional money.

Gamify Your Investments: Exploring Opportunities in Crypto Gaming

This new monetization mechanism is driving innovation in games design and is reshaping the way that gamers are engaged with their games. For example, a player can now earn “skin” rewards that can be redeemed for real-world cash. These types of rewards are designed to encourage deeper engagement and dedication from gamers.

The play-to-earn game space has a wide range of categories that allow gamers to monetize their gaming activities through many mechanisms, including competing against other users (player vs player), managing resources, and completing quests. Many of the popular play-to-earn titles, such as Illuvium and Axie Infinity, fall into the battle game category where gamers compete against other players or teams to win in-game rewards. Moreover, some of the newer games, such as Decentraland, are metaverse-building games where users can purchase plots of virtual land and sell or rent them to other users.