Rain Blog

News and updates from the leading cryptocurrency platform in the Middle East

Funds for fun: Play-to-Earn (P2E) crypto gaming explained

By RAIN EDITORIAL TEAM - Apr 14, 7:00 PM

If you’ve ever wondered how it feels to secure an income for gaming online, here’s your chance to give it a try. Play-to-Earn (P2E) took the crypto world by storm, as the concept opened countless unprecedented opportunities for gamers across the globe. Read on to find out all you need to know about P2E, and how you can participate in this revolutionary movement.

What is Play-to-Earn (P2E) in the crypto world?

Essentially, Play-to-Earn (P2E) is a framework that allows selected users to monetize their in-game achievements and progress. This is made possible by crypto tokens, which are usually rewarded by P2E games to players for completing various challenges, or in return for other forms of engagement. Players normally then have the option to take their acquired tokens and sell them on crypto markets, eventually turning their virtual gains into fiat currencies (e.g., USD, EUR, CAD).

Play-to-Earn (P2E) and NFTs

While many Play-to-Earn games use conventional cryptocurrencies in their reward framework, some introduced Non-Fungible Tokens (NFTs) to the space. These one-off crypto tokens are known for being impossible to copy, duplicate, or tamper with, while providing verifiable ownership and security through the blockchain they are issued on. Many P2E games integrate NFTs into the experience they offer, mostly as wearables, consumables, or any other virtual item for that matter. By owning these artifacts as NFTs, players have the chance to sell their possessions outside the boundaries of the game and profit from their holdings.

Play-to-Earn (P2E) in metaverses

Some metaverses, the popular virtual realities of the crypto space, also recognized the upside of P2E and implemented the mechanism to incentivize their users. This way, metaverses became even more exciting and lucrative for all participants. The opportunities are endless, including owning and trading basically any in-game asset as NFTs on easy-to-use marketplaces. Among these are digital clothing, vehicles, and even property, making metaverses a truly life-like experience. 

How to get started

NFTs and cryptocurrencies allow new players to get a head start when beginning to engage with the above systems by purchasing them on marketplaces. Interestingly, most of the popular P2E games and metaverses launched their crypto tokens on Ethereum, the global blockchain network famous for smart contracts. This means that to gain access to the vast world of P2E metaverses, such as Decentraland, or The Sandbox, or to fun P2E games, like Axie Infinity, the first step is usually to secure some Ethereum (ETH). ETH can then be exchanged for various NFTs and other crypto tokens that help players with getting started in P2E gaming. 

Play-to-Earn (P2E) crypto games and metaverses are incredible novelties of the industry, and their global popularity strongly backs this claim. Countless players make decent amounts by simply doing what they love, and you have the chance to join them, too. However, if you’d like to have a better shot at succeeding, or you’d prefer seeing results faster, think about securing in-game assets via Ethereum (ETH), and speed up your progress in most P2E ecosystems.

Rain is licensed by the Central Bank of Bahrain as a Category 3 Crypto-Asset Services Provider. We are headquartered in the Kingdom of Bahrain

Company

Learn

Careers

Social

Scan to download

iOS & Android

Downloads

Copyright 2022 Rain Management WLL