How To Choose A Play-To-Earn Game — What You Need To Know To Maximize Your Earnings
There’s a new trend that’s been sweeping the world, and it’s every teenage gamer’s dream come true — though it may not be as simple as they wished.
Several “play-to-earn” games have been released recently that all promise gamers a way to make big bucks doing what they love.
If you think that sounds too good to be true, you could be right — but it really depends on the game.
Like any other money-making opportunity, there are good options, bad options, and some things you can look for to help you distinguish one from the other.
Let’s start at the beginning though — feel free to scroll ahead if you already know the basics.
Much like the name suggests, these games allow you to earn a profit just by playing them — but they don’t exactly mail you a check for every hour you spend in-game.
In fact, they don’t mail you a check at all, but that doesn’t mean you’re not going to make some money — it just won’t be in cash exactly.
Instead, you’ll earn cryptocurrency, which you can hold on to, trade, use to buy goods, or sell for that cold hard cash.
Types Of Play-To-Earn Games
While you can find games to fit every genre and playstyle, for the purposes of this article, we’re going to talk about the different ways they pay you for playing.
Though these games are relatively new, they’re already diverse in the different ways they can be used to earn money, NFTs, or valuable cryptocurrencies.
One thing that remains the same throughout all play-to-earn games is the use of NFTs — but how they’re used can differ.
In some games, the NFTs represent unique characters, each with their own abilities, skills, benefits, and weaknesses.
In other games, the NFTs represent items that can be used in-game as currency, power-ups, equipment, bonuses, or upgrades.
If your goal is to make a profit, choosing the right game is important.
While there is no perfect solution, there is one big tip you can use to find the right game to maximize your profits — looking at their payout structure.
Most of the original play-to-earn games have something called a “rewards vault,” which is a portion of the cryptocurrency used to supply the earnings for gamers.
The strategy has been successful, but it has a downside that’s starting to cause headaches for gamers who want to keep on earning past the first few weeks of a new game’s launch.
These rewards vaults, by their nature, devalue the currency.
Every time a new portion of currency is removed from the vault, it means there’s more currency on the market that hasn’t been bought for cash — and that makes all of the tokens worth just a little bit less.
Over time, with many players helping to empty the vault, this can lead to significant losses.
The solution is simple, right? Choose games that don’t use a rewards vault.
The problem? They’re few and far between.
That may change in the future — but for now, keep an eye out for one of the few game platforms that pay players out of the new purchases being made, instead of a rewards pool.
Of course, you’ll still need skill, persistence, and a quick eye to make a good profit, but by choosing the right games, you’ll be one step ahead!
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.