What Is Play-to-Earn?

Last Modified:
February 28, 2024

Play-to-earn (P2E) is a new trend in gaming where players can earn real money by playing video games. This is made possible by integrating blockchain technology and non-fungible tokens (NFTs) in gaming. Players can earn NFTs or cryptocurrency by completing in-game tasks or challenges and can then sell these assets on online marketplaces for real money.

In 2017, CryptoKitties was introduced to the world. It was the first virtual game based on the Ethereum blockchain, which enabled players to adopt, breed, and trade virtual cats on their Ethereum wallets.

A year later, CryptoKitties inspired the idea and concept for Axie Infinity, where players collect and breed creatures called “Axies” that battle each other, paving the way for play-to-earn games and applications. The existence of P2E games has allowed gamers to earn while having fun playing video games.

Today, there are various types of play-to-earn games, including blockchain-based games, collectible games, role-playing games (RPGs), trading games, strategy games, sports games, and social games. Players can earn rewards by completing quests, making strategic decisions, or socializing with other players. With the rise of blockchain technology and play-to-earn games, the possibilities for earning real-world rewards while playing games are becoming more diverse and intriguing.   

Read more here: History of NFTs