In the crypto industry, play-to-earn (P2E) refers to blockchain-based games offering gamers monetization opportunities. It is one of the most active sectors within the crypto market, giving players a chance to earn crypto rewards for completing challenges and levering up.
In addition to offering rewards in cryptocurrencies, P2E games also give players a chance to earn digital collectibles in NFTs, which can be traded or developed to generate more value. These NFTs are usually in-game assets that improve the players’ performance, increasing their monetization experience and providing more value to the gaming experience.
P2E games are a lucrative way for newbies in crypto to earn passive income. The NFTs minted and earned in P2E games can also be traded on NFT marketplaces to increase players’ earnings from the blockchain games.
Some of the most popular P2E experiences on the blockchain include Axie infinity, Decentraland, and The Sandbox. The sector is called GameFi (game finance), a play on the term DeFi, to denote another opportunity for monetization via cryptocurrencies.