January 14

A play-to-earn strategy could give players control over their digital identities, assets, and ownership


In order to devote serious time, effort, and personal investments to digital environments, individuals must establish trust in the durability of their digital presence and goods, as well as their economic robustness. Early implementations have demonstrated that this is indeed achievable with blockchain technology, which, using cryptography, can ensure digital trust and decentralised value storage.

Video games are no exception to blockchain’s application in finance and art. The foundation for value creation in play-to-earn games is blockchain technology, including non fungible tokens (or NFTs). An NFT is a digitally secured claim of ownership for a unique, non-transferable digital asset. Generally speaking, NFTs can take many forms within virtual worlds: characters, items, land, decorative personalization features, such as digital clothing, and more. Those who play the game well earn the most valuable items, and they can sell them for real-world money on their own terms.

READ MORE:  101+ Social Bookmarking Sites Without Registration

It is the decentralized integrity and security of these digital items that makes them truly innovative, as they for the first time transcend the traditional proprietary, custodial ownership and discretion of a company or even government. To illustrate, in-game resources from play-to-earn games can be sold freely on marketplaces inside and outside the game, without relying on the permission or rules of publishers or other third parties.

Recent examples of play-to-earn communities have demonstrated the potential of play-to-earn games to create a new economy. This can be demonstrated by a video game called ‘Axie Infinity’. In the Philippines and Venezuela, play-to-earn has become particularly popular after it advanced from 4,000 to 2 million daily active users within a few months. For players in countries like these in the Global South, income from this digital world is far greater than what they can earn from their local physical economy.

READ MORE:  BACCARAT Novices starting to play strangely can be specialists with baccarat web sagame77

Additionally, ancillary ‘scholarship platforms’ like Yield Guild Games, which enable and educate players in emerging economies to play-to-earn games, have attracted major investment and become billion-dollar companies in a matter of months — surpassing many popular video games in value. By globalizing the market for game-based NFTs in this way, play-to-earn games and their surrounding platforms are examples of frictionless economic opportunity and meritocratic participation across geographical boundaries. It seems that the world has never been flatter than it is in 2021.

For now, it is important to note that play-to-earn games do not eliminate the centralization found in games inherently and fully: they still require the publisher to define, issue and constrain the asset that will eventually be traded as an NFT. The greatest promise of play-to-earn games lies in their ability to decentralize marketplaces for the creation, ownership, and exchange of digital assets, as well as the potential created when those marketplaces are connected to the traditional economy and fiat currencies, enabling players to transfer their digital time, effort, and earnings into disposable income.

READ MORE:  Social Bookmarking Sites in Dubai, UAE

Owning and participating in these new worlds brings great profit to those who believed; many of whom were from emerging markets who acted quickly to capitalize on the opportunities.

The play-to-earn model may be a new and flexible way for the players themselves to earn money. But it also reflects some of the perils associated with the digital economy, which risks creating “humans as a service”: limited job security, precarious relationships between firms and employers, and a lack of social safety nets. Because freelancers are already overrepresented in the creative economy, policymakers will have to consider all of these issues.



 , abc song, abcdefu, aboflah, adele, aftv, airbnb, aldi, alicia joe, aliexpress, amazon, amazon de, amazon prime, amazon prime video, apple, aramsamsam, ariana grande, arte, asmr, asos, autoscout24, c, c&a, calculator, california, canada, canva, cartoon, catholic church, champions league, check24, checker tobi, chefkoch, chelsea, chicago, china, chloe ting, christmas music, christmas songs, chrome, chrome download, climate change, cnn, cocomelon, coinbase, coinmarketcap, colbert, comdirect, comdirect login, commerzbank, commerzbank online banking, connect, copyright, copyright infringement, copyright law of the united states, corona, corona bayern, corona deutschland, corona regeln bayern, coronavirus deutschland, covid-19, cpr, crime patrol, currency converter, e, easy german, easyjet, ebay, ebay deutschland, ebay kleinanzeigen, ebay kleinanzeigen login, ebay login, ed sheeran, egypt, elizabeth ii, elon musk, elster, elster login, elvis presley, eminem, encanto, encanto songs, engelbert strauss, england, englisch deutsch, english language, english to german, enhypen, epic games, epiphany (holiday), eritrean movie, eritrean music, eternals, etsy, euphoria, euro to dollar, euro to inr, europe, european union, eventim, handball wm 2021, i, icloud, icrimax, idealo, ig, ikea, ikea online shop, imdb, immobilienscout24, immoscout24, immowelt, impfpflicht pflegepersonal, impfzentrum bayern, ind vs sa test highlights, indeed, india, india vs south africa, india vs south africa test highlights 2021, ing diba login, inscope21, insect, instagram, instagram login, inter vs juventus, international standard book number, internet speed test, ip, ip address, iphone 12, iphone 13, iphone 13 pro max, iran, ishq e laa, islamic state, island boy, israel, it'll be okay shawn mendes, it's my love, italy, masked dancer, niederlande corona, o2, obi, office 365, og keemo, oh my god, ojo, olaf scholz, oliver tree, olivia rodrigo, omegle, omicron, omikron, omikron corona, one direction, one piece, onedrive, onlyoneof, otto, outlook, oversimplified, oyerepa afutuo, prinz andrew, r, rafael nadal, raiffeisenbank neumarkt, rail transport, real madrid, real madrid vs barcelona, rebecca zamolo, rechner, red notice, reddit, regular expression, relaxing music, renzo, republic of ireland, republican party (united states), reserved, restaurants near me, rewe, rezo, rihanna, rituals, rki, rki dashboard, rmv, roblox, roger federer, roma and diana, romania, ron bielecki, rossmann, routenplaner, routenplaner falk, royalty family, rtl now, russia, russian language, ryan reynolds, ryanair, s, samsung, saturn, saudi arabian-led intervention in yemen, schulmanager, shein, sidemen, singapore, skyscanner, snake, songs, soundcloud, south africa, south korea, soviet union, spain, sparkasse nürnberg, sparkasse online-banking, special counsel investigation (2017–2019), speed test, speedtest, spider man no way home, spider-man, spiegel, spiegel online, spielaffe, sport1, sports tak, spotify, squid game, sssniperwolf, steam, stephen colbert, stromae, study music, sweden, switzerland, taarak mehta ka ooltah chashmah, taylor swift, telegram, telegram web, tesla, the weeknd, tiktok, tim kellner, timothee chalamet, tom and jerry, tom holland, tommyinnit, translate, travis scott, trevor noah, trymacs, turkish airlines, twitch, twitter, udaariyaan, udemy, ufc, ukraine, uncharted trailer, uncle roger, undisputed, unge, unidays, unikkatil, uniqlo, unspeakable, unsplash, unstoppable, unusual memes, ups tracking, urban dictionary, urban outfitters, usd to eur, wagle ki duniya, wayfair, we don't talk about bruno, weather, weather tomorrow, weihnachtslieder, wellerman, wetransfer, whatsapp, whatsapp web, wheels on the bus, white noise, wikipedia, windows 11, wizz air, wolfoo, workout, workout music, worldometer, wwe

You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Subscribe to our newsletter now!