Gaming but especially online gaming is one of the biggest industries in the world. Developers make plenty of money by letting gamers buy in-game assets and items. However, thanks to the metaverse, this is about to change in the following years. In fact, the change has already begun.
Therefore, we wanted to prepare this guide about play-to-earn games in the metaverse. If you are planning to make money by playing games and benefit from the recent trends in technology, then metaverse can be a great answer for your goal.
The Emergence of Play-to-Earn Metaverse Games
Many games such as Grand Theft Auto, FIFA series, and Call of Duty make millions every year. These games offer in-game items and assets to players such as customizations, skins, properties, and weapons. This led to great dissatisfaction in the gaming community since almost every game is paid to win these days.
However, metaverse games and developers are focusing on the opposite. Although the number of games that offer a play-to-earn model is low, we should not forget that this is a new technology. We believe that soon we are going to find more games that offer this new gaming model to us.
What Are the Main Differences Between Video Games and Metaverse Games?
In video games, including mobile games, the economy model has a centralized structure. This means that the publishers and developers of the game have full control over the economic items, and they are the only rightful owners. They are in the provider position, which provides in-game assets to those who would like to purchase them.
For example, let’s assume that you purchase a skin for your character in any game. Whenever you make the payment to get the skin, a code runs in the background and lets you own it after successful payment. Basically, the developer allows you to own that skin.
As you can guess, when the game is dead or the developer closes the game, the item you own will be affected and you will not be able to access it anymore. In other words, your in-game asset will be lost with the game.
On the other hand, this is totally different in the metaverse play-to-earn model. Instead of developers or publishers being located at the center of the economy, there is no centralized economy model in these games.
By connecting your wallets, you can own the item you are going to purchase or create in these games. This allows you to market your items the way you want. In addition to this, you can use different marketplaces to reach your target audience.
Therefore, it seems like metaverse’s play-to-earn gaming model seems quite promising and it has already started to attract the attention of millions.
What Are Play-to-Earn Games and How They Work?
Considering that metaverse is a relatively new technology, the number of play-to-earn games in this universe is limited. However, this does not mean that you cannot make money by playing games. Do not worry, we are not going to talk about Second Life but more recent games in the following. These games are Decentraland and Axie Infinity, which are the two most popular games these days.
How to Make Money by Playing Decentraland?
First, you need to visit the official website of the game through any browser. On the homepage, you are going to find two options, which you can play as a guest or play by using your own wallet. We recommend playing the game with your wallet, which should be a digital wallet, for an enhanced experience.
After clicking on the play with digital wallet option, you will be guided about how to connect your wallet to the game. Once you are done, you need to register for the game, where you will be redirected to a page to customize your avatar.
Here, you can customize the shoes, accessories, bottom, top, body, and head of your avatar. Later, you need to give a name to the avatar you create. After completing these steps, you will be able to explore the Decentraland metaverse.
From now on, you will be completely free. You can explore this metaverse, meet with others and start trading with people. If you want, you can also buy available land for yourself. The way you are going to make money will basically depend on your trade skills in real life, but it will take place in the Decentraland metaverse.
How to Make Money by Playing Axie Infinity?
For this game, you will need an Ethereum-based wallet so that you can store your cryptocurrencies. If you do not have any wallet yet, we can recommend Metamask, which is an easy-to-use wallet.
After getting your wallet, you need to create a ronin wallet. This wallet will let you store all your assets and items in the game on the ronin blockchain. You can easily download this wallet by visiting the web store in your Chrome browser.
Now it is time to visit Axie marketplace, where you need to register with your ronin wallet. This will help you to create a game account for yourself. Once you are done, visit the account setting page and connect your Ethereum-based wallet.
Players need to purchase three Axies to start playing the game. You can find them in the Axie marketplace. The costs of Axies are increasing as the game becomes more popular. As of today, each Axie costs around 0.15 ETH. If you may not want to make any payment, you can also take part in the scholarship feature. This allows Axie owners to lend their Axies to others and they earn a proportion of SLP in return.
Once you purchase Axies, you can download the game and start enjoying your time while making money.
It is worth noting that play-to-earn in the metaverse is still in its infancy period. However, this does not mean that you cannot make money by playing games in the metaverse. We say this because we may see new earning models and games in the close future.