While bitcoin struggles to acquire acceptability among merchants and customers on a daily basis, one segment of the blockchain industry is growing at a rate of seven times each year: play-to-earn. When something grows so quickly – especially from a low starting point – it can't be assumed that everyone who should know about it already does. So, to begin, let's answer the obvious question:
What is play-to-earn?
According to CoinMarketCap, P2E is a gaming paradigm in which "a platform gives its users with the opportunity to earn any type of in-game assets that can be transferred to the real world as a valued resource." "It essentially provides gamers with the opportunity to earn money by engaging in games."
This model may have been created without the use of blockchain technology, but it was not done so. There was no need to put in-game prizes on the blockchain as long as they were only provided for completing objectives or levelling up and could only be spent on new skins or weaponry.
However, P2E encourages players to contribute to the in-game ecology in various ways. This entails working on new accessories in a unique manner.
Some of them may be one-of-a-kind, making them an ideal use for non-fungible tokens. That is why blockchain-native games have a long-term advantage over legacy-based games.
Worldwide Asset exchange, or WAX, is at the vanguard of the P2E movement and has some lessons to offer those launching other distributed-ledger projects through its WAX Games Studio branch, which is now releasing Blockchain Brawlers.