Play to Earn Games: Viability

The Fall of Play to Earn Games?

I love play to earn (P2E) games. As a gamer being able to earn money while playing games is like a dream comes true. And seeing how play to earn games has exploded in popularity last year, it seemed that I’m not the only one with such a sentiment.

However, due to the current bear market; investors’ interest in play to earn games seemed to have dropped significantly these days. And with one of the biggest play to earn game in the blockchain, Axie Infinity, having experienced hacking a few months prior, the interest in play to earn games had dropped even further.

That being said, play to earn games isn’t dead yet despite what some cryptocurrency critics would like you to believe. Moreover, despite everything that had happened, a lot of investors are still interested in the play to earn concept – proven by the fact that play to earn games still keeps popping out like mushrooms.

Play to Earn Games or Play and Earn Games?

There’s a growing consensus that instead of calling blockchain-based games as play to earn games, they should be called play and earn games instead.

Although there’s just a one word different between the two phrases and sounded like they meant the same thing, the context of the two phrases couldn’t be more different.

Let me explain…

Play to earn games are blockchain-based games to earn by playing the games and earning loots and in-game currencies that could be sold or exchange for fiat or other cryptocurrencies. This could be done by completing missions, planting and harvesting crops, winning battles; through in-game airdrops (ex. Splinterlands’ SPS air drops) and so on.

Play and Earn on the other hand didn’t rely on earning in-game rewards and currencies but through methods like streaming, sponsors, winning in e-sports tournaments, writing articles about the games and so on to earn money.

Sounds familiar, right?

Yeah, this is the same model that many non-blockchain-based games have been using for years now. Technically, you’re still earning by playing the games but not through the loots that one could earn when playing the games.

The play and earn concept is quite controversial in the crypto-space because it goes against the principle of block-chain games where players are supposed to earn through in-game rewards. The other reason why it was controversial was because when the developers were promoting these games, they advertised them as play to earn and NOT play and earn so to suddenly change the model of the game after attracting investors (and taking their money) that expect to earn by playing said games was, in my opinion, a scumbag move.

Are Play to Earn Games Scams?

A lot critics believed that most play to earn games that had been coming out recently are nothing but scams – and although I would like to say that it wasn’t the case, these critics were, unfortunately, somewhat right.

Some of the play to earn games that is coming out recently do seem to be scams. These games would promise large return to one’s investment only for the games to suddenly shut down months later – marring the reputation of play to earn games even further.

Not all blockchain-based games are scams, mind you.

A lot of them are actually pretty legit. Some on the other hand ends up looking like scams due to bad decisions from the game developers and bad actors ruining these games economies thus forcing some of them to shut down.

For examples, Axie Infinity is in its current state due to bad management and bad actors hacking the game. Splinterlands, one of the oldest play to earn games in the blockchain had faced harsh criticisms from its player base and investors due to questionable decisions that they did once it became popular.

The thing about these two play to earn games though was that despite what had happened and what they did, the game still exist, although one of them seemed to be in a bad shape.

Though this raises the question: Are play to earn games still viable?

Is the Play to Earn Model Viable?

The question whether the play to earn model works or not is difficult to answer but based on my personal experience, it does work, at least it works for me,

Currently, I’m playing Splinterlands and Rising Star Game, one being a strategic NFT card game whiles the other being a browser idle-clicking game with NFTs.

I’ve been playing Rising Star Game for two years now while I’ve only been playing Splinterlands for several months. And both these games allow me to earn through playing.

However, since I’m only a small time investor in these games, my earnings isn’t that big. Just like any other blockchain-based games, the earlier you adopt the game and the bigger your investments, the bigger the profit.

Still, it’s a good source of extra income, granted, my earnings have declined significantly due to the current bear market. But as a source of extra income, it’s not bad.

That being said my experience my not apply to everyone but the point is, the play to earn model do work if implemented properly by team of developers with passion for their games.

But as mentioned previously, some of the play to earn games that are coming out are scams – develop to scam investors that are eager to jump into the play to earn bandwagon. So if you plan to invest in these games, please do you due diligence.

If you really want to try your luck on these games, I suggest sticking to established ones that have been through and survived many crypto-winters as you’re likely less to get scammed in these games.

That’s all I have for now. Thank you for reading.

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Disclaimer: This article was checked for plagiarism using the online tool; plagiarism detector, and was proven to be 100% original.

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