Educational Post:
What is Play-to-Earn (P2E) Games?
Play-to-earn games are video games where the player can receive rewards with real-world value.
While people have been earning money from playing video games for many years through practices such as “gold farming” and unofficial marketplaces for in-game items, the emergence of blockchain technology and NFTs has, quite literally, changed the game.
NFTs, or non-fungible tokens, are cryptographically unique tokens that can be used to prove ownership of content such as images or music. In blockchain games, they enable users to take ownership of in-game items, such as virtual clothing or plots of land.
That means that NFTs representing in-game items can be traded and sold for fiat currency on any NFT marketplace. And because those NFTs have scarcity, they have real-world value.
Show more ...