What Are Play-To-Earn Games? While some games require an investment in tokens or NFTs, others allow people to earn crypto just by playing them, and this can be described as the very essence of Play-to-Earn. Basically, P2E is a model in which the user receives something of value during a game for an achievement. What this user receives can be used or sold. These games rely on Blockchain technology, and with P2E games, players own these assets as tokens and Non Fungible tokens (NFTs), which can be traded seamlessly in exchanges like marketplaces. P2E games have fast become a force to reckon with in the crypto gaming world and, as a result, are often referred to as the future. In Blockchain technology, P2E games can be said to be the premise for GameFi. GameFi Presently, GameFi is one of the trending topics in the Cryptocurrency industry. It is coined from two words: Gaming and Finance. GameFi basically refers to decentralized applications commonly referred to as DApps, but with economic incentives. GameFi’s basic components can be said to be Decentralized Finance (DeFi), video games, and NFTs, and the ecosystem comprises Launchpads, Aggregator, Marketplace, and Accelerator and as such. With GameFi, players can trade, lend or rent out their winnings seamlessly. According to a report by Accenture (a multinational company that specializes in information technology services and consulting) in 2021, the Global Gaming Industry now exceeds $300Billion, more than the combined markets for movies and music, driven by a surge in mobile gaming and an emphasis on social interaction during the COVID-19 pandemic, when there were lockdowns worldwide. It was also noted that the gaming industry increased by half a billion players over the last three years, and it was predicted that by the end of 2023, there would be over 400 million new players. The reason for this is not far-fetched. Aside from just playing to earn, the GameFi industry balances the needs of players who are keen on online interactions and helps them to connect with others who share a similar interest, which in this case is their mutual love for video games. GameFi and P2E games work collectively to create well-defined models that ensure that the fun of gaming is balanced with incentives like financial rewards. Games on GameFi have a stronger interaction, experience, engagement with players, and generation of higher interest. NFTs, according to a recent article by CoinBureau, were hardly affected by the dip in Cryptocurrencies as the number of trades continued to increase constantly. This can be backed up by a report from DappRadar that says Crypto gaming and NFTs are resilient in the face of declines in the digital asset markets because, despite the dip in the overall crypto market,  NFTs saw a surge in trading activities. The advent of P2E games and GameFi have brought about numerous gaming platforms, and a good example is WAM.app. Unlike some other crypto games that make use of more complicated gameplay, the nature of games on WAM.app is straightforward and fun. These games do not require players to be hardcore gamers to earn money. With over 3.8 million users, over 225,000 app downloads, and a total of 810,0000 verified accounts registered, with an average app rating of 4.7, WAM.app, the world’s first hyper-casual play-to-earn is more than just a gaming platform; it is an internationally validated P2E social gaming platform where players compete in skill-based tournaments by participating in highly engaging online games to win crypto rewards in $WAM coin (the one and only cryptocurrency on WAM.app) and NFTs. Users can participate using their mobile phones from Chrome or Safari. WAM.app is also available on the App Store and Google Play. Looking Forward In 2022, it is certain that we will witness the arrival of many more gaming platforms because GameFi plans on devising strategies for the development of new features about the launchpads, marketplace, aggregators and accelerators, and particularly the metaverse. By large, the amount of investment in P2E games has become remarkably high as investors are beginning to see great opportunities in the gaming industry and GameFi. Ultimately, the revolution of P2E games with GameFi is a groundbreaking movement, and the future of this industry is bright as there are infinite possibilities of growth, especially with all the exciting and innovative developments in the ecosystem, which keep attracting lots of investors and players.

Revolutionising P2E with GameFi + HyperCasual Games On WAM.app

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

The Noonification: The Metaverse is a Sh*tshow (11/2/2022)

5 Innovative NFT Projects and Platforms to Look Out for in 2022

6 Crypto Trends that Will Dominate 2022

6 Interesting Play-to-Earn Games to Look Out For in 2022

A Brief Intro to Play-to-Earn Games

A Complete Guide to Initial Game Offerings (IGOs)

The Noonification: The Metaverse is a Sh*tshow (11/2/2022)

5 Innovative NFT Projects and Platforms to Look Out for in 2022

6 Crypto Trends that Will Dominate 2022

6 Interesting Play-to-Earn Games to Look Out For in 2022

A Brief Intro to Play-to-Earn Games

A Complete Guide to Initial Game Offerings (IGOs)

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps