![]() ![]() Though 2021 was when P2E exploded onto the scene, the concept actually came to prominence back in 2017 with CryptoKitties, the first popular game to utilize blockchain technology. ![]() The concept is relatively straightforward, these games provide players with the assets that they need to generate income for themselves, in addition to providing entertainment value, some more than others, depending on the quality of gameplay development. Blockchain gaming is the solution to this, by providing a representation of value that can be exchanged - as non-fungible tokens (NFTs) - which means players can now monetize their in-game progress. Meanwhile, the pricing of traditional games has been a source of discontent for the community as more publishers look for ways to include upgrades, premium editions and microtransactions where players can accelerate progress by purchasing in-game goods. In traditional gaming, the static model means that games are a “sunk cost” - players never get their value back in terms of time and in-game purchases. Alternatively, they can invest back into the game that they’re playing. As they progress through the game and win more battles, they accrue more points, which can be exchanged for cryptocurrency or cash. The premise of play-to-earn games is players are given the opportunity to participate in PvP (player versus player) battles or battle their way through a gaming storyline. We saw the likes of Axie Infinity, a Philippines-based start-up and a play-to-earn game exploding in popularity, particularly in developing nations, followed by many others including Illuvium, Guild of Guardians, Star Atlas, Splinterlands, The Sandbox and Catheon Gaming’s SolChicks. Image: Shutterstockīlockchain-based play-to-earn (P2E) games had a breakout year in 2021. Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming. ![]()
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