Today, let’s quickly dive into Play to Earn
Highlighting games like GODS Unchained, Sorare, Axie Infinity, Illuvium, names resonating in the P2E ecosystem
Play-to-Earn: Illuminated Insight
Play-to-Earn (P2E) is revolutionizing the gaming world, enabling players to earn real cryptocurrencies while indulging in their passion. This innovative concept relies on blockchain technology, transparently recording every player’s action. Unlike traditional virtual currencies, P2E earnings are real and can be exchanged or converted into fiat currency. Iconic games embody this unique fusion of enjoyable entertainment and tangible financial opportunities. P2E represents a new era where playing becomes synonymous with concrete gains in a dynamic blockchain ecosystem.
Non-Fungible Tokens
NFTs play a significant role in the play-to-earn ecosystem by offering players the opportunity to own, trade, and monetize digital assets in video games
Ownership of Digital Assets
NFTs enable players to own unique and rare digital assets such as characters, items, skins, lands, etc. Each is unique and can be recorded on a blockchain, ensuring authentic ownership of the asset.
Interoperability Across Games
Some NFTs are designed to be used across multiple games, promoting the interoperability of digital assets. This means a player can own an asset in one game and use it in another, creating a more seamless and consistent gaming experience.
In-Game Economy
Players can buy, sell, and trade digital assets directly with each other without going through proprietary in-game markets. This creates opportunities for players to earn real money by actively participating in the game’s economy.
Rewards and Incentives
Some play-to-earn games distribute NFTs as rewards to players for their achievements or contributions to the game. These NFTs can then be used or traded within the game or on market platforms.
Tokenization of Virtual Resources
Can be used to tokenize virtual resources such as computing power, storage space, or other elements that can be utilized within the game. This can lead to the creation of decentralized markets for these resources.
Governance and Community Participation
Owners of specific NFTs may have voting rights on decisions related to the game’s development, updates, and rule changes.
Highlighted P2E Games
Sorare, an innovative P2E game, introduces the football dimension by allowing players to collect, manage, and trade NFT cards of real players. Since then, they have also added the NBA and MLB and show no signs of stopping. A law even bears its name, the “Sorare Law” or “Jonum” regime, which was passed in the National Assembly in October 2023.
Similarly, in Gods Unchained, unique NFT cards offer a competitive and lucrative experience, immersing players in strategic duels within a fantastical universe. Build your deck as you collect cards in free and/or paid boosters! Forge them (mint) to obtain them on-chain in your wallet!
Axie Infinity, on the other hand, stands out by offering an ecosystem where players breed, battle, and trade digital creatures, creating a flourishing virtual economy full of opportunities.
Illuvium is an open-world RPG, monster collector and autobattler game built on the Ethereum Blockchain, releasing on PC and Mac in 2022. Play-to-earn in a graphically-rich sci-fi adventure and conquer the wilderness to help your crash-landed crew flourish.
Focus on the “Jonum”
October 17, 2023, marks a significant step in regulating the French digital landscape, especially for Web3-related games and NFTs. The National Assembly has adopted guidelines to regulate these activities.
To protect minors, an age verification system will be implemented, with details to be defined later. Moreover, player identification will be mandatory when withdrawing their earnings, a measure aimed at preventing money laundering and illegal organization financing.
Influencers will be subject to promotion limits for NFT games, and broadcasting platforms such as YouTube will not be able to promote these games until they can exclude minors from their audience.
The National Gaming Authority (ANJ) will be responsible for monitoring and regulating these activities. On the tax front, NFT games will not be subject to the same surcharges as gambling games.
This specific regulation, called JONUM (Jeux à Objets Numériques Monétisables), directly applies to platforms like Sorare. Although the ANJ is responsible for regulation, the law will be experimental for three years from its promulgation, providing a defined legal framework for the NFT gaming sector. Subsequent implementing decrees will specify conditions and obligations, laying the groundwork for more in-depth regulation. This represents a positive step for the industry, offering a specific framework for its future evolution.
Play Prudently: The Golden Rule of P2E
Prudence is key in P2E. Whether in terms of time or money, only play what you are willing to lose. This is a golden rule because, while lucrative, P2E also carries risks. An informed and measured approach is essential.
Cryptocurrency market fluctuations directly impact P2E games, often linked to tokens or NFTs. Staying informed (DYOR – Do Your Own Research) and educating yourself on blockchain and Web3 operation are key to navigating this space.
Conclusion
In conclusion, Play-to-Earn offers a unique gaming experience where entertainment blends with the possibility of tangible gains. Explore P2E games with caution and education. May your adventure begin informed and exciting!
And above all, stay tuned to our social networks, we really love P2E! 👀
Official Links:
Sorare: https://sorare.com/fr/
Gods Unchained: https://godsunchained.com/
Axies Infinity: https://axieinfinity.com/
Illivium: https://illuvium.io/