Play to Earn is coming...

“The next big thing will start out looking like a toy” - Chris Dixon

What is Play-to-Earn?

Play-to-earn are games on the blockchain that you can play to earn cryptocurrency. Games such as Axie Infinity allow you to leverage unique digital items (NFTs) to play and earn tokens. In the case of Axie, you battle monsters (similar to Pokémon) to gain smooth love potions (SLP) that you can use to advance in the game or sell for cash.

Why game on the blockchain?

The answer is ownership. Blockchain gaming allows for users to own the assets they buy or earn in a game. In games such as Fortnite, players can buy mods, weapons, and other assets, but can’t transfer them or resell them to other players. The blockchain allows players to create economies with their items, bringing more value to the user! Games like Axie Infinity and Illuvium also allow you to earn native tokens or ether, bringing further value to the game, especially for people in developing nations.

What are layer 2s and why are they important to play these games?

Layer 2s are side chains that allow users to transact for little to no cost on the blockchain. One of the biggest hurdles to making successful blockchain games is cost. Axie Infinity built their own layer 2 with Ronan, and Illuvium will be using Immutable X to allow players to buy/sell/lend/borrow NFTs in game with zero gas fees, therefore allowing a much more frictionless and inexpensive option. When cost drops significantly, it allows more users to access the game.

Who would play these games?

Everyone! Some people like playing Pokemon games, while others enjoy Call of Duty. Gaming on the blockchain allows players to own their assets (skins, weapons, characters, ect) and NFTs help make this possible. In keeping with the attributes of Web3, play to earn games allow users to earn, own their assets, and have fun doing it.