After blockchain became popular, P2E games have become the most talked about thing in the gaming community. Also, many investors and business owners want to make their own play-to-earn games now that they know they can make money from them.
What are P2E games, though? Why adding blockchain technology to your play-to-earn game can make it better and give you better results? Let’s understand in detail.
Let’s understand what P2E games are.
Play-to-earn games are games where you can win real prizes by playing. The rewards can be money, tokens, NFTs, and other things. Based on how well they do in the game, players can get rewards.
Players can trade their digital items with other players in the game. Blockchain technology is used by P2E games to make it possible for players to get their exclusive NFTs.
Let’s look at how blockchain makes it possible for play-to-earn games to offer unique rewards and how games are shared among players.
How does blockchain improve the experience of play-to-earn games?
Since blockchain was introduced, many new games have come out, and players all over the world have liked them more.
Most “play-to-earn” games are changed versions of “free-to-play” games that use blockchains. Blockchain technology in free-to-play games makes it easier to make unique digital assets like NFTs, and so on.
Also, adding blockchain technology to p2e game development has a lot of benefits. Here are some of them:
- Blockchain’s decentralized server can host games for less money and with more reliability than centralized servers.
- NFTs can be used to decide how the game’s rewards are made. Compared to other digital assets, it is easy to make NFT rewards and give them out.
- Blockchain makes it easy for games to send rewards to players by sending them to the address of their digital wallets.
- When players can make money by playing games, they tend to play for longer, which makes them more involved in the game.
The players who get rewards can trade these digital assets for cash with other players. So, if you want to make a “play-to-earn” game, you should add blockchain technology to your games.
If you know how to play 2 earn games to make money, you’ll have a better idea of how to start your own game.
The Business model of P2E Games
A lot of games have their own NFTs and digital coins. When players do something in the game or finish a task, the game gives them their digital coins or NFTs as a reward.
By playing games that let them earn money, players can get rewards for reaching their goals. The players can also be NFTs to get more NFTs back.
Later, the players can trade that digital asset for money with other players. The game uses smart contracts to run the reward system and give digital assets to its players when certain conditions are met.
But there are a lot of things to think about before making play-to-earn games.
Things that are important for the P2E games
These are some important things that will help you make a better plan and strategy for your game from the time you start making it until it comes out.
The factor will determine how interesting your game needs to be to draw a big crowd. When you’re making a game, you can find out how likely it is to make money by figuring out who your audience is and what they like.
This shows how likely it is that users will spend money and buy the things in your game. By adding more digital assets to your game and making it easier to sell, you can make more money as a game owner.
3. Power to Mint
The factor tells you how much your game can charge players for each NFT it gives them. The more potential there is to charge NFTs, the more money a company can make.
4. Keeping the economy going
How much money users can make from your game depends on how sustainable it is. You can get more people to play your game if the economy is more stable.
Also Read Here: How The Metaverse Is Revolutionizing The Gaming Industry
5. Perceived length of life
How long players stay in your game depends on how long they can play for. Having players who stick around for longer will help game owners keep a large number of people playing their game.
Retention is a way to figure out how long a player will spend on a game. Also, retention affects how often players come back to the game. A higher retention rate helps the game owner grow and make more money from their gaming community.
You can look at the reasons to invest in play-to-earn games to get a better idea of how much you can get back on your money.
Why should you spend money on Play-To-Earn Games?
The market for “play-to-earn” games keeps growing, giving entrepreneurs a better chance to make money.
Here’s a quick look at a few numbers:
- Statista says that by 2025, the global market for games will be worth about $270 billion.
- Play-to-earn games are attracting millions of users who want to make more money.
- In the United States, consumer spending has gone up by up to 8% in 2021.
- In 2021, the gaming market brought in about $180,3 billion.
Since blockchain is just starting to be used in games on a large scale, it would be best to get into the decentralized gaming market early when there is less competition.
Also, you can see how blockchain gives a better way to improve the gaming experience:
1. There’s a better chance of getting big players
When people play games, their main goal may be to get rewards and turn them into money. Even people who don’t like games will come to make money by getting NFTs and digital currency as rewards.
2. Less marketing was needed
Because these games are so popular, many Streamers pay extra attention to them and review them on their channels. Even almost every gaming community is talking about these games, which gives a better chance to market them with less money.
3. Helping game owners make more money
The owner of the game can make their own digital tokens to attract a lot of investors. Game owners who put a lot of money into the exclusive gaming token can make more money, which gives them more money to spend on improving their games.
Let’s see how the following ways of developing games can help you make your game better.
Practices to follow for making engaging Play to Earn games
Follow these best practices for making games to make it more likely that your game will do well on the market. Also, if you follow the best practices for making games, you can save time and money by not having to do things you don’t need to.
1. Make games that can be changed easily.
Putting your game on more than one platform will help you get more players faster. By playing your game, if you have a good group of users, you can make more money.
At first, it will be better to focus on just a few platforms. Later, you can make your game work on more platforms.
2. The model of tokenomics
Tokenomics lets players move and trade non-fungible tokens (NFTs) and other digital assets inside the game. Putting tokenomics into your game may be hard for game developers.
Because of this, you might need blockchain developers to add the tokenomics model to your game. Also, players can vote and take part in different activities to help improve the game through tokenomics.
3. More blockchain platforms to choose from
The other best thing you can do when making a game is to choose the most reliable and useful blockchain platform. To choose the best blockchain platform, you can look at things like translation speed, transaction fees, long-term viability, support for NFTs, and so on.
4. Making graphics that look good
Have you noticed that most games that do well on the market have graphics that are easy on the eyes? So, having good pictures, like better pictures of characters, scenes, the game’s user interface, etc., is important.
By adding blockchain technology to your play-to-earn games, you can make it easier for your users to get their rewards in the form of NFTs and digital currency.
However, it can be hard to add blockchain technology to your game on your own. Because of this, working with the best software company to make your game or add blockchain technology to it can help you get better results.
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