What is P2E?
Welcome to play-to-earn games, where players win crypto from skill-based game-playing on blockchain games. Unique features of play-to-earn blockchain games are:
- Not free to play - Players need to acquire GameFi NFTs for gameplay
- Skill - Winning is skill-based (not luck)
- Players earn at different levels - Games do not just reward the best players competing at the highest level, they reward players competing at equivalent levels
- Winnings - Players win game tokens and bonus play-to-earn NFTs
- NFTs - All game assets are NFTs with their own independent value
Think about Pokemon, Cryptokitties, Uniswap and Beeple all coming together in one big metaverse.
On average, a new player can earn about $10 a day and a skilled player can earn more than $30 a day:
No of days playing
New player winnings
Skilled player winning
In developing countries, this phenomenon has been an especially powerful gift to young players and their families. It is literally pulling players out of poverty. It’s hard to convince them to go to school sometimes, one would imagine.
The market capitalisation of P2E games is now over $14 billion, with a daily volume of over $4,000,000.