How to take advantage of P2E
P2E (Play-to-Earn), a term recently adopted by the gaming industry, is a term coined for a group of Web3 software and applications that allow users to earn while playing games and engaging in applications. Games based on the P2E concept enable players to earn money to complete achievements. In addition, players can acquire non-funky tokens and cryptocurrencies, which can be sold in the market. Many people in different parts of the world have decided to make this sector of the economy their main source of income.
Advances in blockchain technology have led to the development of gaming. Gamers can acquire assets within the game, receive prizes that have real-life value, and acquire the ability to purchase and trade virtual assets and other items through the blockchain market.
Platforms like NFT, Games and Decentraland and Cryptovaxel offer players a variety of potential earning opportunities. However, it is not certain that you can make money using P2E. The amount you make varies depending on the value of the game’s native currency and the NFT you earn, how much time you invest, and the gaming strategy you apply.
How do I make money with P2E?
There are many ways to earn in-game, especially through NFT:
Acquire the game’s native virtual currency:
P2E games have their own native currency that can be acquired by satisfying the terms of entry into the game and then traded for Fiat Cash. From the range of play-to-income games that require players to actively participate in games to win prizes, the apps where you start the game and your avatars do all the work for you. The amount of money you earn while playing video games is determined by the value of the virtual currency you use, how often you play it, and by a significant amount of how efficient you are. Although there are some games in which affordability is not a factor.
Minting
In blockchain games, one of the different ways players make money is through the process of creating new things. Metavers platforms such as Decentraland and Cryptovaxel have games that give players the ability to create wearable, 3D objects and other collectibles, and earn a percentage from the sale of these items in the Web3 marketplace. Thanks to smart contracts based on blockchain technology, participants in Cryptovoxel have the opportunity to earn up to 10 percent of their costs when they sell their in-game creations.
Scholarship
Scholarships in blockchain P2E games (such as Axieinfinity) mean hiring in-game avatars. Players band together to hire characters from a “manager” to play games, earn money, and divide profits. Generally speaking, scholarship guilds consist of managers and pundits (players). The manager is the legal owner of the NFT, but the pundits borrow the NFT to participate in the game. Any in-game winnings are distributed equally among the members of the Guild.
Stacking
Like scholarships, locking your tokens to get rewards is called stacking. Stacking your tokens involves making them accessible to other users so that they can participate in the token exchange.
You save your tokens for a certain period of time, known as an era, and after that time has elapsed, you are entitled to a reward, which is often derived from the transaction fee.
Conclusion
Play to earn is transforming gaming. As much as P2E gaming may seem time consuming and busy, earning a living by doing something you enjoy is a great deal. If you enjoy virtual gaming. The more time you invest and develop your skills using the platform, the more income you can generate. Hopefully, we’ve provided you with fun alternatives to make money on Metaverse.
Why not see our article How to get a job at Metaverse, Explore more options?
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