The first time anyone hears about the fantastic potential of play to earn gaming, it is easy to ignore some essential questions. Whereas not all the questions are found on the surface, one may have to dig deeper into the system to find them. Apart from identifying these questions, you must also unravel the correct answers to them to have a good adventure. Let us consider some of these strange questions and discover the correct answers.
How much should you spend on play to earn gaming?
Play to earn games are as equally entertaining as the other video games you know. However, it adds an extra exciting layer, earning real value from your playing time. Meanwhile, play to earn gaming often requires an initial deposit to buy a starter pack with your cryptocurrency. This principle depends on your choice of P2E game you want to play and determines how much you have to invest per the entry cost.
For instance, if you want to start playing axie infinity, you will need to buy at least three different axies from other players in the Axie Infinity marketplace using cryptocurrency. These three axies are the requirement to begin the game, and each axie costs nothing less than $35 and even up to $70. These are even the common ones; the rare axies can cost hundreds of dollars. You may not even need to invest that much to start the game in other cases.
However, note that even if the game does not require an initial deposit or entry fee, you will still need to spend to access the premium features. So, instead of simply paying to play the game, you now have an opportunity to earn more than entertainment but real value. In other examples, in games such as the Decentraland, the game player will need to create a MetaMask wallet.
You will need to buy up to 100 MANA to build the game and claim a unique username for play in this game. For now, this initial deposit currently costs up to $216 at this present time. However, bear in mind that the cryptocurrency a player earns from these play-to-earn games comes with a measure of risks and no guarantee of return. Therefore, it is advisable only to invest the amount you are confident would not hurt you if you lose it. Only invest the amount you can afford, and you can manage to live without while the investment is yet to yield a reward.
How to find existing and upcoming play-to-earn games
At this point, we assume you are ready to try out the NFT play-to-earn games; you will now need to choose one. In your choice, think of the games of genuine interest to you or align with an area you would like to explore. For instance, you may be interested in wars, battles, conquests, real estate, etc. There are more than 400 active blockchains NFT games on the network, and finding the best one among them is no small task.
A simple approach to this decision is to prepare for thorough research. See this step as that of an investment such as stock that requires you to understand the entire system. Also, you will need to get the correct information before getting to the point where you invest your money. There are two significant places to look and learn about new play-to-earn games on data tracking websites.
They are the DappRadar and the CoinMarketCap, and each one is different in some peculiarities. For instance, the former has a significant insight into the GameFi marketplace depending on the volume and the users. On the other hand, the latter gives the player some insights into the token price trends and helps determine the right time for you to launch into the game.
The Profitability of Play-to-Earn Games
The beauty of the play-to-earn game is that players can derive entertainment and financial rewards. On the other hand, the rewards are not typical, and neither can you expect non-varying returns. For example, as of July 2021, the Crytoday newsletter published that an average Axie Infinity player could earn up to 1125 Smooth Love Potion (SLP) tokens each week. The rate back then was about $0.3462 per token, implying that the estimated earning is about $389.48 every week.
Subsequently, the price and value of tokens fell drastically, so much that by the time the Three-Body Capital Management revised the value. As of November 2021, it was stated that the drop in value of the SLPs had pitched the estimated weekly earnings to be about $100 each week. The actual gameplay is the answer when it comes to earning returns from the metaverse.
When focusing on the Decentraland P2E game, a further report of observations spanned between September 2020 and 2021. The report showed that the secondary market for NFT sales in the game grew between 2 to 5 times, surpassing the $100 million mark. This positive expansion encouraged the game developing company to launch a single-asset trust for its token (MANA) in early 2021.
Are Play-to-earn games worth it overall?
The question of if P2E games are worth the investment of time and money is evident to the eyes. But just like every other business involving finances, it requires its risks and therefore calls for intelligent minds. It will be unwise to take these games as a get-rich-quick scheme because it may harm. However, if you can maintain the right mentality and put in the excellent work, you will soon get the expected results.
Finally, it requires patience when considering the questions to be answered before playing NFT play-to-earn games. In addition, one needs to do thorough research that involves knowing where to look and defining what you are looking for. Moreover, many, if not all, of these profitable crypto games come with some measure of initial financial commitment. Therefore, you must factor in this entry fee concerning the time it will take to master the game and begin to win. Remember that the earnings are the rewards of winning the game in context. While a lot of productive time may be in your hands, it is advisable to use it wisely for enjoyment and as an investment.
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