Gaming has been a popular way to pass the time for several decades. However, one of the most common criticisms against this sector is that it is not profitable for the players. There have been numerous accounts of gamers being accused of ‘wasting their time and potential’ by playing games all day, which is why the idea of P2E (play-to-earn) was formed.
In simple terms, the P2E concept allows individuals to earn passive income while playing certain games. In this way, money can be earned by completing specific objectives, quests, and cooperative events within the game itself. And nowadays, most of the funds which are generated usually take the form of cryptocurrencies (which can then be sold at an associated exchange for real-world money). P2E has become so popular in fact that there have been cases all over the world regarding entire families leaving their mundane jobs behind in favor of pursuing this new line of gaming-oriented work full-time.
P2E and gambling
The P2E concept can therefore be understood as the most recent advancement in the gaming industry. It is a business strategy that embraces the notion of an open economy and offers crypto-based rewards to all players who provide value to the game environment. As such, another sector that has become increasingly involved with this idea of earning passive income as you play is that of the gambling world. In the past, people would play all sorts of games based on luck, chance, and skill in order to earn profits, and with the way that our world is becoming more digitized with each passing day, it would hence only make sense for P2E to be employed here as well.
This leads us to projects such as Fairspin , which is essentially a place through which players can participate in all sorts of different games such as virtual sports, mini-games and, of course, gambling itself. What is interesting is that the platform provided by Fairspin, like so many others, has provided several games that already existed in the past such as roulette, card games, slots, jackpot and more, however the ability to earn extra funds through P2E makes this entire endeavor all the more enticing. It is now possible to play such games and win additional funds through cryptocurrencies and tokens associated with these kinds of platforms, as is the case with Fairspin’s TFS token (which is supported by both PancakeSwap and UniSwap). There are various loyalty programs and promotions as well for added incentive, as well as the ‘Hold To Earn’ feature which is yet another advanced step within the ecosystem and one more reason to consider such a project.
A new era
Ultimately, we are only just starting to scratch the surface of what we can accomplish thanks to the innovative use of P2E. In the past, there have been numerous initiatives which have successfully leveraged this concept in order to attract countless investors and be successful, such as Axie Infinity, The Sandbox, Yield Guild Games, Liberty Gaming Guild, and the aforementioned Fairspin.
No matter what, there is something for everyone as these projects cater to a wide variety of different individuals who have varying preferences, needs and interests.
Moreover, due to the ever-increasing popularity of the metaverse, it could even be argued that P2E is only going to become even more attractive in the foreseeable future. However, this could also lead to a lot of fraudulent behavior and activities, so extra caution and doing your own research is always recommended.