Since the gaming industry revolutionized the world, we have seen a lot of games. Earlier, we would just play games for enjoyment, but today, reports show that projected revenue for mobile gaming in 2022 will hit $164 billion.
Mobile gaming has now transmitted into the Ply-to-earn (P2E) model.
Here, we’ll define P2E—play to earn—and describe how it functions in the world of cryptocurrencies. We will also discuss the P2E and cryptocurrency gaming business potential.
Play to Earn is referred to as P2E. Therefore, as the P2E acronym suggests, you can make money just by playing video games. Yes, playing can be paid for or free.
Some games, like the card game marble, cards, let you construct cards with links and play on their arenas for prizes that include tokens (MEM tokens).
Also read, NFT Gaming Industry: The rise of Play-to-Earn Models
Nevertheless, the bulk of P2E games demands that you purchase either NFT or tokens to participate.
People are making quite a wonderful income just by playing these Play-to-Earn games and earning millions of dollars.
So, how can people truly make money via P2E and NFT gaming? And how can you profit with P2E at the highest margin? This will be covered in the parts that follow.
As hyped as a game can be, P2E games sell its game components as an NFT, and the NFT price fluctuates.
Everything in the game is for sale, including characters like players and pets as well as land, homes, rooms, structures, and weapons.
You need these characters and lands to play the games. If the game becomes more well-known in the future, more people will play it, increasing the demand for NFT and, ultimately, the price.
Now that you’ve seen the returns, you must be considering purchasing an NFT to enter that market. but how to use it to make millions.
You must join the game early if you want to make millions. I’m referring to the fact that before the game’s release, some NFTs were produced and sold to the public for marketing and adoption purposes. They refer to it as IGO and mystery boxes (Initial Game Offering).
These NFTs are going to take off once the game is online, albeit a lot will depend on the buzz and reputation of the game. People invest heavily on in-game currency in order to purchase characters, skins, and clothing.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates.