Play-to-Earn Model - The Game Earn Way on the Crypto Space

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There's this particular scheme some people use in getting money and it's through playing of games. This traditional games they play involves staking of their time and resources to get huge returns from the probability game they play. These players spend time buy the game or ticket to play of which they lose and gain at intervals unknown to them most times.

This play to earn games are quite different. They allow players earn cryptocurrencies and non-fungible tokens for each play and these digital assets given them can be sold and traded to cash. This model is a new way of playing video games to earn cryptocurrencies.

This play to earn models is based on the known Blockchain technology which has no central user governing or controlling its operations. These games may include completing tasks, achieving milestones and winning battles. It's more like this popular game called prison break where you'll have to complete a task and achieve a milestone.

These cryptos given represent ownership of digital assets and this ownership are secured by Blockchain technology which ensures the security and transparency involved.

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This whole thing started from the world of warcraft before the advent of this blockchain technology. The decentralized nature of this blockchain makes it possible for assets to be verified without reliance on centralized authorities. How does it work?

Players involved in these games must complete tasks and achieve goals in the game before the earn rewards which can be Nfts or digital assets. These players can exchange these tokens for fiat or dollars on different online platforms. If given Nfts, they are owned by players and can be sold to other players.

Some popular games that can be played to earn money on the Crypto space includes the sandbox, decentraland which we all know, Gods unchained, Splinterlands, etc.

The sandbox is more like a virtual reality world where users can create their own gaming experience and monetize it as well using the popular SAND crypto and some Nfts. This game encourages creativity and can be traded on the Sandbox marketplace. So when players earn these currency for each play or task done, they can trade it on this marketplace.

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The decentraland is built on the Ethereum Blockchain and uses the cryptocurrency MANA to reward players who can create and explore their gaming experience. They can also develop land parcels with contents, art, galleries etc. This crytocurrency can be traded on the decentraland marketplace and land ownership is often represented by some Nfts.

Gods unchained is a blockchain where players can trade card they collect as Nfts and these cards can be earned by participating in battles and completing some challenges as well. These challenges can be bought and sold on the game's marketplace.

There are various benefits of this play to earn models asides financial benefits. They can make this money while enjoying their favourite hobby which is playing games. These players own their in-game assets and can trade it for fiat. These assets can be traded on various marketplaces but there are some challenges though. The volatility in the crypto market can be a setback and there are some games that require initial capital or investment to start playing......

These play to earn models reward its players in cryptocurrency when it can be traded for cash. Not everything I'm crypto is labelled risky or a scam as some say as there are various ways to earn money on crypto. This playing of virtual games and others are involved.

Disclaimer :Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have