Play-to-Earn Crypto Games: A New Way to Make Money in 2024?

TLDR

Play-to-earn crypto games are blockchain-based game-based games in which game players can earn crypto by playing the game.

These games leverage blockchain technology to ensure that in-game currency and assets are unique and cannot be replicated, allowing players to own and trade their assets outside the game.

Play-to-earn crypto games are a great way to earn money while having fun. The appeal of play-to-earn crypto games is that they mix the most significant elements of traditional gaming with DeFi. Here are our top 5 picks:

1. Axie Infinity
2. The Sandbox
3. Decentraland
4. Splinterlands
5. Revv Racing

Overall, crypto play-to-earn gaming provides a new way for players to earn cryptocurrency and gain ownership of unique, valuable in-game assets that can be used or exchanged in the real world.

Introduction

This article will provide an overview of play-to-earn crypto games, including how they work, their benefits, and some top crypto games available for you to consider.

What is Play to Earn Crypto Games?

“Play to earn” crypto games refer to a type of online game where players can earn cryptocurrency by participating in the game.

Blockchain games

These games typically use blockchain technology to create a decentralized, transparent, and secure way to handle in-game transactions and assets.

P2E crypto games or blockchain games have varying requirements. For instance, some games are free, while others might require an initial investment.

In free-to-play and paid play-to-earn crypto game(s), you can earn cryptocurrency by completing tasks, selling assets, winning battles, or trading with other players. Earned cryptocurrency can be spent on in-game purchases or converted into real money.

NFTs and in-game assets

One key aspect of play-to-earn crypto games is where each in-game asset – from tokens and characters to weapons and items – comes to life as nonfungible tokens (NFTs) on the blockchain.

These NFTs aren’t just ordinary digital assets. They’re unique, unreplicable, and recorded securely on the blockchain, ensuring you can’t exchange them for any equivalent asset. This means that the assets are unique, scarce, and non-fungible tokens that can potentially increase in value over time.

Another stand-out feature of the play-to-earn crypto game(s) is that they are typically decentralized, meaning no central authority or company controls the game or the assets. 

Instead, the players facilitated by blockchain technology control the in-game token and the assets. This gives players more control and ownership over their in-game assets and allows for a more transparent and fair game economy.

It is worth noting that most of the current peer-to-peer play-to-earn blockchain games are still in the early stages of development, especially when comparing the graphics to historically top-tier PlayStation or Xbox games.

Therefore, if you were hoping for an attractive high-resolution crypto game, you might have to check back in a few years. However, if you keep the economics in mind, the benefits can be sufficient to keep you interested.

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How to Verify Play-to-Earn Games?

Before making any new investments in crypto, it is crucial to confirm the project’s legitimacy. Play-to-earn games are no exception to this rule.

The project’s tokenomics should be your first stop.

What is the token supply, the release schedule, the motivation to hold or stake, and any additional use cases? A limitless supply of tokens might not be a smart idea at first. Also, your checkbox must tick profitable staking and holding potential. 

A game with a large and active player base is more likely to generate revenue and have a higher potential for growth. Look at the game’s social media, forums, and other online communities to understand its player base.

Another potential breakthrough point is the game’s future development and metadata. Examine the game’s past data, such as income, player count, and item sales. This might give you a sense of the game’s previous performance and potential for growth.

There is no set formula for predicting a blockchain game’s future. As a rule, however, avoid making significant investments first, and don’t invest money you can’t afford to lose. It’s essential to remember that investing in any crypto asset carries risk. Play to earn games in crypto or otherwise.

Now that you have researched enough about these games – let’s look at some of the best available play-to-earn games.

1. Axie Infinity

Axie Infinity is a thrilling blockchain-based, play-to-earn metaverse game designed to enable players to earn real cryptocurrency rewards.

Developed by a Vietnam-based studio specializing in blockchain games and decentralized apps, the game is set in a fantasy world where players can breed, raise, battle, and trade the Axies (digital creatures) they own. 

Key Specs

• Host Blockchain: Ethereum
• Genre: Breeding Card Game Metaverse
• Supported Platforms: Android, Windows iOS, 
• Free to Play: N/A

Gameplay

To begin playing Axie Infinity, you must first locate an Axie powerful enough to eliminate your rivals.

Six distinct pure Axie breeds exist, each with six body parts with unique stats. To defeat your rivals, you must be shrewd in your pet selection.

Once you’ve chosen your champion Axie, you’ll have to earn experience points to power up.

Battling other players’ Axies is how to gain experience and earn rewards such as ETH (Ether) or SLP (Axie Infinity’s native token). 

As the Axies level up, they become more powerful and valuable.

You can trade your Axie in the Gameverse marketplace for real money or cryptocurrency. Your Axies will be worth more the stronger it gets.

Difficulty modes

The play-to-earn game features several different modes, including: 

• Adventure mode, which allows players to explore the world of Axie Infinity
• A Battle Arena that allows players to take part in PvP battles against other players
• An Arena of Honor, which allows players to compete against AI opponents
• PvE quests are where players must complete various tasks, such as finding hidden items or defeating monsters for rewards. 

Axie Infinity gameplay is all about skill and competition.

Besides the different game modes, there are also various mini-game events designed to be easy for new players to pick up but still challenging enough for more experienced gamers. 

These mini-games include puzzles, racing games, quizzes, and more to help players learn about blockchain technology while simultaneously having fun! 

Finally, there is an Alliance system where you can partner with friends and other players to complete quests, in-game exchange items, and generally work towards common goals such as earning rewards by daily quests and completing achievements.

Bottom line 

Overall, Axie Infinity provides a unique opportunity for gamers looking to have fun and make money while doing it.

Its engaging gameplay mechanics and ability to reward its users with real crypto assets make it one of the most promising available and upcoming crypto games.

2. The Sandbox

The Sandbox game offers a variety of ways to make money. To earn SAND, the metaverse coinage, you can play as an artist, a game developer, or a landowner.

The play-to-earn game features a unique concept where gamers create their content using blockchain technology to monetize it. 

It is a game created by Pixowl Inc., a mobile game developer based in San Francisco. The NFT gaming masterpiece is among the best games for play-to-earn cryptocurrencies, seamlessly combining creativity and monetization.

Key Specs

Host Blockchain: Ethereum

Genre: Indie game, Casual game, Open world, Strategy

Supported Platforms: Mac, PC, iOS

Free to Play: Yes

Gameplay

In Sandbox, you can create virtual worlds and experiences within the gameverse and share them with others.

They can also earn cryptocurrency rewards for creating and playing in these virtual worlds. The result is an unlimited collection of games in the game.

Using the platform’s proprietary UI, Sandbox gamers can express themselves creatively. Creativity equals money on Sandbox.

In other words, you make more money on Sandbox as your creativity gets better.

Create sandboxes

Sandbox players can create structures both on land or underwater using blocks of different colors, shapes, and textures, which are available for purchase inside the platform’s marketplace – known as ‘The Marketplace’ — or earned through playing games inside ‘The Game Maker’ mode of The Sandbox’s environment. 

The Game Maker mode provides access to world-building materials like castles, cars, horses, swords, guns, etc. You’ll need these digital assets to power your creations.

They can be acquired either by buying them from other players or earning them via completing quests inside games made by other users/developers on the Sandbox platform itself.

Suppose you’ve built a storefront; every time other players visit your store to purchase the merchandise, you earn SAND tokens payment, just like in real life. 

You can stake your earned tokens inside a voxel world, trade them with other users/players outside the platform, or convert them into fiat currencies via exchanges.

Reinvesting more items for further in-game property customization is another way to go. It can be a sustainable way to earn tokens, grow wealth, and earn revenue on the platform.

Bottom Line

The sandbox sets itself apart from regular video games due to its unique creative play-to-earn crypto model. 

There are no standard rates for earning. Your earning potential ultimately depends on your creativity. Not only does this incentivize creators & gamers alike, but it also provides an opportunity for people who may not be tech-savvy enough yet still want to earn money while having fun. 

3. Decentraland

Decentraland is a virtual world where users can explore, create, and play to earn cryptocurrency. It is built on the Ethereum blockchain, allowing for ownership of digital land parcels and assets within the game world.

Decentraland’s play-to-earn mechanics presents a scaled-down version of the metaverse concept. 

Key Specs

• Host Blockchain: Ethereum
• Genre: Indie game, Casual game, Open world, Strategy
• Supported Platforms: Mac, PC, iOS, Android
• Free to Play: Yes

Gameplay

The gameplay of Decentraland is built on the foundation of 90,601 distinct LAND parcels.

On Decentra’s LAND, you can construct gorgeous landscapes, structures, and works of art, and nearly any other NFT game does — your imagination is your limit.

Decentraland’s Play-to-Earn model allows players to monetize their time spent playing by earning MANA — the game’s native token — through various activities they complete within the game world.

Purchasing land is the initial step in the earning process. After significant appreciation, you can buy land and lend it or sell it.

Generate revenue

The other more engaging(fun) method is to plan activities or games and charge spectators.

Here, players can purchase land or build their own creations to generate revenue from gaming, gambling, advertising, and more.

The game developers provide a free internal tool for building experiences, not unlike Sandbox’s creation tools. There’s, however, a caveat. To publish your work in the game, you need a piece of land you’ll have to buy with MANA.

Players can also access various game modes, including single-player experiences like puzzles or races, multiplayer games such as Capture the Flag, and even minigames within larger projects such as city simulations or augmented reality experiences. 

Earned Mana tokens can be used as in-game currency to purchase skins, collectible items, or land parcels. There’s also the option of staking digital assets to generate passive income over time. 

Bottom Line

Decentraland is a computer-created simulation of real life that offers comparable career prospects and income potential.

Baring its limited player interaction capabilities, the name list fields explosive potential and is set to become one of the leading gaming platforms.

4. Splinterlands

Splinterland is a digital PvP(player versus player) metaverse game that combines collectible cards and strategic deck building with the opportunity to earn cryptocurrency rewards.

In Splinterlands, players can purchase, collect, or trade “Splinters” to compete with other players.

This NFT game title was launched in 2018 by co-founders Jesse Reich and Matthew Rosen and has amassed a sizable fan base since then.

Key Specs

• Host Blockchain: Hive
• Genre: Card, Trading 
• Supported Platforms: Mac, PC, iOS, Android
• Free to Play: Yes

Gameplay

Players battle players – their opponents – using monsters, spells, and abilities represented by digital game cards. Card game lovers will find this p2e game appealing as the gameplay is centered around cards.

The games are divided into leagues, each with different rules and rewards.

To start playing, you must collect cards by purchasing packs or trading them with other players. Following that, you’ll have to build up to 30 card decks to compete in 1v1 matches or tournaments.

The goal is to defeat your opponent by reducing their health points to zero before they can do the same for you.

Every deck is unique

Each player deck comprises different splinters – representing elements such as fire, water, earth, or death – and monsters from various backgrounds, including dragons, knights, wizards, and more. 

Each card has a unique set of stats that determine its strength, such as attack power, speed, and health points, and special abilities called “abilities” that can give it an advantage over other cards in battle. 

As you play through Splinterlands matches against real opponents worldwide, you gain experience and rank up through various leagues, which grant access to new features like tournaments and higher stakes battles where you can win bigger rewards. 

The ultimate goal in Splinterlands isn’t just to win battles — it’s earning cryptocurrency rewards. For each battle you win, you can earn DEC (Dark Energy Crystals), which you can use to purchase booster packs or trade on the marketplace for even rare cards. 

DEC itself is also tradable on various cryptocurrency exchanges, so you can turn your gameplay into real money if you succeed.

Splinterland cards can also be sold as NFTs on the Splinterland marketplace. Cards can range in value from $19 to $17,800 depending on their rarity, magic, health, and attack levels.

Bottom Line

In addition to DEC rewards, players also accumulate reward points based on their battle performance, which serve as another way to unlock special bonuses like exclusive card skins or extra booster packs each month. 

All these features come together, allowing gamers a unique opportunity to enjoy playing and earn some extra income from playing one of the most popular blockchain games today.

5. Revv Racing

Players can earn money in Revv Racing by winning matches, competing in races, or selling in-game NFTs or race cars. The play-to-earn game combines the thrill of virtual racing with the chance to win real crypto rewards.

This p2e game is one of the most recent additions to Animoca Brands’ portfolio of racing metaverse games.

Key Specs

• Host Blockchain: Ethereum
• Genre: Motorsport racing
• Supported Platforms: MAC, PC
• Free to Play: Yes

Gameplay

In Revv Racing, Players can compete against each other in races, tournaments, and leaderboard challenges for a share of REVV tokens. 

Revv Racing is quite similar to traditional video game racing in gameplay, aside from the NFT automobiles and blockchain race records.

Revv Racing aims to provide an entertaining gaming experience that allows gamers to earn cryptocurrency rewards for their performance and achievements.

Players are rewarded with REVV tokens for competing in races, completing objectives, and earning points on leaderboards. 

REVV tokens have varying uses on the gameverse. They can be traded on exchanges or exchanged for other cryptocurrencies like BTC or ETH, among other things.

To join Revv Racing, you must register an account on the official website. You can create your avatar and customize your vehicles with various upgrades and customizations from the store. 

Once registered, you can start racing against opponents worldwide in different events, such as drag racing or drifting competitions, where they compete for REVV tokens based on their performance during each race. 

Revv Racing also offers a unique “Play to Earn” feature, which allows players to earn additional rewards by playing specific games or participating in special tournaments hosted by sponsors or partners of Revv Gaming Group, such as Carvana or Bridgestone Tires.

This feature helps incentivize players by providing additional rewards outside of regular gameplay.

Bottom Line

Revv Racing is an innovative way for gamers worldwide to compete against each other while earning cryptocurrency rewards and many other exclusive goodies.

Remember that the game is still relatively new and prone to bugs. 

As a result, the gameplay may not be as fluid as in other titles on our list. Despite the gameplay drawback, passionate gamers and motorsport fans stand to benefit from the game’s great potential profit production.

Conclusion

Play-to-earn crypto games are an exciting way for people to have fun and potentially earn significant ROI. With the rise of blockchain technology, these games are becoming more popular and accessible. In light of this, it’s not a far stretch to say play-to-earn crypto games have the potential to revolutionize online gaming. 

Gamers can participate in a secure and profitable new gaming experience using smart contracts and cryptocurrency rewards. With these games being available across multiple platforms, getting involved in cryptocurrency has never been easier. 

As the industry continues to grow, many more people will likely be able to benefit from this entertaining form of playing and earning digital assets. Whether you’re a casual gamer or a professional esports player, play-to-earn crypto games provide an exciting opportunity for players worldwide.