Play 2 Earn : New Trend on Crypto Market

What is P2E ?

Play-to-earn games allow users to farm or collect crypto and NFTs that can be sold on the market. By playing the game regularly, each player can earn more items or tokens to sell and generate an income.

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P2E Mechanism

Source : axie infinity

For example, to start playing Axie Infinity, you need to buy (or borrow) three Axies. Pricing starts at $190, although it averages around $350. High-level characters cost much more.

The most expensive triple mystical Axie named Angel was sold at the end of 2020, for 300 ETH (at that time, about $120k). Meanwhile, in early 2021, another property in this game was purchased for $1.5 million. The monthly trading volume of all Axie Infinity NFTs is around $170 million.

There is another cryptocurrency related to the game. It is called the Axie Infinity shard (AXS). Investors in AXS can vote in the governance of the game's ecosystem and can also use it to gain a stake in the community treasury. Recently, AXS has been growing at an impressive pace. In recent weeks, the currency has grown more than six times.

By the way, most crypto-related applications require two different types of tokens including "native token" and "governance token". The former is used for the own purpose of application such as tokens for staking in de-fi apps, and the latter is used for the governance(decision making, etc) of the app literally.

Traditional Gaming Money vs P2E Crypto

In the games using the play-to-earn model, players can earn virtual in-game currency which is liquid, and can be pretty easily sold for other cryptocurrencies and fiat currencies.

More P2E Games and Related News

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