A New Era of Play to Earn — What you must know.
Updated: Aug 23, 2022
There is great news for you all! Have you ever dreamt of paying your debt, your rent, even your daily expenses by merely playing your favorite games? If so, then you’re not alone! There are currently countless gamers worldwide who fantasize about making some serious cash through playing games, but not everyone knows how to achieve this vision.
The 21st-century gaming industry continues to redefine itself, and we have all experienced rapid change over the decades (transforming from a black & white device like Game Boy to today’s array of sophisticated AR as well as VR consoles. The type of games also improved massively, and exploded in popularity among a wider audience than ever before, with more games striving to build communities in the authentic world and an increasing number of teenagers choosing to take up this hobby as their career. According to Fortune Business Insight, the global gaming market size is expected to continue gaining huge momentum and reaching USD 545.98 billion by 2028 while exhibiting a CAGR of 13.20% between 2021 and 2028. Innovations in blockchain-powered play-to-earn gaming have been a significant catalyst for this expeditious growth and a hot topic you must know.
Games with play-to-earn (P2E) allow players to earn or collect cryptocurrencies and NFTs that could be sold on the exchange for free, providing the tokens in games’ actual value. By playing the game regularly, completing daily tasks, or enhancing their infrastructure in the game, players are expected to earn more tokens or items to sell and generate an income. Lands in games are owned by gamers via NFTs and they could either keep adding values to their territory or sell it to other gaming enthusiasts. This simply provides gamers actual ownership and control over in-game properties, creating a strong sense of in-game economy which directly strengthens the bonding between game developers and every player.
There are five main types of Play to Earn NFT games:
PVP multiplayer games: Such games allow players to synchronize with real-time multiplayer games and start games in specific rooms they created. This allows them to earn while playing with their friends or against other P2E users.
NFT marketplace and games: P2E gamers play, collect, buy, or sell NFTs and games.
Sports games: Players can create their own fantasy sports team and earn points as they perform well in real-time. For instance, there are sports games like soccer, football, baseball, basketball, you name it.
Lottery: Players buy lottery tickets and join the pool with other participants to win the mega prize.
Prediction market: This kind of game allows players to predict the results of events, sports matches, and important events, or even elections. They will share the prize in the winner’s pool provided that their predictions are correct.
You may already have heard of Axie Infinity, a P2E game built by the Philippines, which later became the hottest P2E game in the past months. Gamers would breed their Axis and form a team to play in PVP mode (Arena) as well as Adventure mode. People could also sell their Axis on the market as NFT at a fixed price or an auction. Axie Infinity has proved to support their locals, especially rural ones, to escape from poverty and earn a living at three times the minimum wage by devoting time to a P2E game. And that’s just one of the games that have potential in the play-to-earn space, and we are honored to present to you two upcoming biggest P2E games in history — KingdomX & Heroes of Mavia.
KingdomX is a strategy war game on blockchain. Anyone can earn tokens from the game. Players can battle, collect, raise and build their kingdom in the game. The gameplay of war is the core PVP combat gameplay of KingdomX. There are 4 kinds of assets in KingdomX. KT and KNT are tokens developed based on ERC20, which act as the governance as well as in-game tokens respectively. Hero and Land are NFTs. As all assets are compatible with the third party market for circulation, players could always buy or sell their heroes and land on the KingdomX marketplace. What is more, KingdomX’s ecology is designed on the basis of the GameFi value system so players can enjoy the ownership and the right to dispose of all assets in the game and they could get high returns by participating in games and through value exchange.
Heroes are the core NFT of KingdomX and they would be generated through the recruitment by players. As the core asset in games, they can affect the game ecosystem. To avoid hyperinflation, the game, for the first time in history, provides a value cycle mechanism for NFTs through KingsLanding protocol and battle system. The KingsLanding protocol provides the best environment for NFT, in which this protocol will get a certain amount of token as insurance while generating NFTs. While burning NFT, this protocol will also return a certain amount of token to the player, calculating a specific amount based on the algorithm of the protocol so players would not suffer great loss. KingdomX will be the first game which can solve the inflation problem of game NFT. The existence of KingsLanding protocol guarantees the value of NFT acquired by players, and avoids the losses generated by inflation.
KingdomX will be deployed on multiple chains, which greatly enhance its popularity and token utilities. King Token can be transferred from one chain to another by the Blockchain Bridge System, enabling users to transfer King Token from a blockchain to other chains safely. The outcome of the war is also deducted in the chain based on smart contracts to ensure that each war is open, fair and safe.
Heroes of Mavia
Heroes of Mavia is an online multiplayer strategy game that is built on the blockchain where players go on to use their base and army to battle other players and compete essentially for two cryptocurrencies, MAVIA and RUBY, and rare NFTs. The game created in 2021 has managed to build a really strong following. Set in a fantasy world that is made up of various armed forces battling for the control of as much as the resources and further growing the economic value of the base, Clash of Clans fans would find this game very easy to fall in love with. Just like Clash of Clans, there’s a base-building game concept, upgradeable buildings, characters, and items, and players could start wars with whoever other players they target while protecting their territories at the same time. Mavia is also inspired by Axie Infinity of its NFT assets and collectibles and play-to-earn model. It is worth noting that both Axie Infinity and Mavia also embrace a Dual Token model, in which players utilize their MAVIA and RUBY in both exchanges and the Mavia marketplace.
There are three different types of NFTs, which are bases/land, heroes, and statues respectively, each with their unique purpose and value in the game. Bases are at the core of the game that acts as their entity, with customized names and unique coordinates on the Mavia island map. Players could enjoy the game in upgrading their bases, resold on the marketplace, rented out for passive income, or even placed into a “partnership” and earn RUBY with other players. As for Heros, they assist players in attacking opponent bases and also protecting their islands in defensive battles. “Skins’’ are also available for heroes so players can design their unique troops and increase the hero’s resale value on the market. Mavia also created statues, which provide boosts for the base that they are active on and can be upgraded to increase their unique powers.
Gamers can generate revenue in the following ways:
They can sell in-game assets such as bases/land, heroes, and statues on the marketplace for money.
They can earn RUBY when they successfully attack an opponent’s base or defend their base from an enemy’s attack.
They can upgrade their characters and trade them later. Here, the more unique and powerful their characters are, the more profit they earn.
The company recently concluded a private token sale that brought in about $37 million with leading industry players contributing to the token raise. Mavia is focusing on Token and Community Launch in Q4 2021 and will begin the beta testing in the coming Q1. The Mavia games as well as the marketplace is expected to be ready in Q2 and will be available in desktop web, mobile browsers as well as iOS and Android Apps.
Whether you like cryptocurrency or not, it is here to stay, and the use case of gaming will no doubt further promote the adoption of cryptocurrency worldwide. Play-to-earn games are the latest innovation in the blockchain gaming industry. It will revolutionize how people interact with the economies of their favorite games. Gamers are already starting to see the benefits of playing online games for profit, and this will speed up the transition towards decentralization . We are expecting such a P2E trend to be a game-changer to the whole world as more and more games will keep on getting recognition and traffic. This would lead to more investment which ultimately depends on the market. So, what are you still waiting for! The immediate future is green and you would not want to regret missing out on participating in the rapidly growing NFT gaming world.