Play-to-earn allows gamers to earn a consistent stream of cryptocurrency just by playing the game. The benefits vary according to the game, but they usually come from staking, farming the game’s currency, or generating tradeable NFT products. Users in older blockchain games depended heavily on luck to generate money. Play-to-earn, on the other hand, has built in-game economies and business models that allow users to earn money while playing.
One well-known example is Axie Infinity, which runs on the Ethereum blockchain. Traditional video game themes and gameplay have been blended with the ancient blockchain gaming paradigm in this game. Axie Infinity, for example, includes adventure mode, PvP fights, and tournaments, all of which are common in the traditional gaming business. For Windows, Android, Mac OS, and iOS, the game is available.
Play-to-earn games are classified as GameFi since they combine gaming with finance. Each game offers monetary rewards for playing and progressing. As previously said, there is frequently a grind involved in repeating specific behaviors that allow users to earn money in two ways:
To earn significant staking rewards, though, you’ll need a substantial initial deposit.
Depending on the market pricing and playtime, players can earn anywhere from $200 to $1,000 (USD) per month cultivating SLP. Farming rewards are often smaller than trading NFT animals and items, but they are safer for someone who requires a steady income.
You may even utilize your NFTs (Axies) to breed new ones in games like Axie Infinity. The value of a newly bred Axie, on the other hand, is impossible to anticipate. The highest expensive Axie (Angel) sold as of October 2021 was $131,970 on Nov 7, 2020, and is now advertised at 3,000 ETH. While these figures are appealing, due to the random nature of play-to-earn games, estimating an average revenue for someone selling NFTs from them is challenging.
RoboFi (www.robofi.io) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the $VICS token.