Are P2E-Games Worth It?
The first time someone told me that gaming can actually earn you money, I was more than just confused and skeptical. After all, why would there be a product you bought for entertainment giving you everything back and more?
Yet, blockchain technology made it possible.
Through different fantastic inventions like NFTs and fungible tokens, players can take ownership of in-game assets and use their hard-earned progress before selling it.. at least, in most cases.
But how profitable and reliable can such a dreamy source of income actually be?
The catch of the story, it is a gamble. A very big gamble, in fact.
If regular crypto investments are like poker, then P2E-Games are like roulette. It's not a matter of skill or strategy but more of luck.
Giants like Axie Infinity have shown us that earning money in games is no mere fluke anymore. However, the problem is what comes afterward.
Truth be told, P2E-Games are more or less a seasonal attraction. When Axie Infinity first came out, it was a sensation. Although not the first game of its kind, it was the first one that showed such enormous success.
Still, as time passed, the hype followed it as well.
Many people tried to replicate the gains others pulled out of the game and supply rapidly outweighed the demand. Prices for in-game currency or axies fell with it, bringing a loss to income and for some, even a lost investment. Not to mention, the crashing economy only facilitated the process.
Other crypto games appeared over time that followed the same concept but most either followed the same path or stagnated in a murky puddle, barely showing long-term potential.
Let's take the most well-known P2E-games that are currently still thriving, maybe.
A collectible card game that uses blockchain-technology by turning their cards into NFTs, giving them real value. You have to buy a starter pack to actually be able to earn in the game but the fact that it still persisted is worth the respect.
Still, the majority of earnings rely on time-based events or airdrops and the earning potential isn't as high to be regarded as lucrative. Rather, more investments are necessary to max the returns.
As a regular game for fun, it certainly does the trick but for earning potential, probably not.
Also a card game similar to Hearthstone based on a similar principle to Splinterlands. You can sell Card NFTs on the marketplace and earn rewards in the game. Important to mention is that it is quite complex and confusing for beginners (or I am just stupid) but you can get into the game even as a free-to-play gamer.
However, actually earning is not so easy. Of course, there is a certain amount of skill required due to its nature of a strategy-game but the game being on the Ethereum-blockchain makes transactions a major problem.
(The gas fees make you feel like someone robbed you before landing a punch in your gut.)
It uses a concept of move-to-earn to provide you a source of income. By purchasing a sneaker NFT, you can run for a set amount every day and earn satoshi tokens.
While being a major hit a little less than a year ago, the economic crash and swelling supply of users slowly chipped down at the value of the in-game currency.
Plus, the drop in value of Solana itself makes it hurtful to sell the sneaker NFT now. For players who started mid-way, they might never get back their ROI.
Alright, so what exactly is the problem here? In a nutshell, it's quite simple. A project is launched and shows much promise and potential. Players get involved and it booms.. before the card house finally collapses.
P2E-Games are simply not very long-living. It's like a ripe fruit that is quickly squeezed dry by the users before withering away. An enormous supply that robs all in-game assets of their value, making it worthless. Not to mention, every single one of these games is heavily influenced by market movements. It's an additional component that prevents a game from being a success.
Crypto Games are a game-changer but they are still at their infant stage. Much of their potential is still not found and used, which is why P2E-games that are not just a mayfly remain a dream for the future.
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