Metaverse Gaming & Play-to-Earn Gaming Models in today’s world

Gaming is not limited to what it was a few years ago. It has undergone tremendous transformations in the past, from portable palm-sized video games to 3D computer games and then wireless consoles. The players also have experienced transition and got the opportunity to live an adventurous, exciting virtual life with a healthy sense of competition through these video games of modern times with realistic graphics. The games sparked their imaginations, raised curiosity, and reduced boredom. With mobile gaming, the gaming demographics expanded.

So far, however, only the developers made money from gaming, and gamers had to always pay the price. Nobody could have ever thought that enjoyment could ever pay back. But, yes, that’s true, and this has become possible after the concept of play-to-earn gaming.

Play-to-earn gaming and GameFi (Game Finance) models backed by cryptocurrencies and NFTs where players are rewarded for playing are on the rise. The Metaverse, on the other hand, is a digital space uniting the augmented and virtual realities with user-created content and social interactions. Thanks to the arrival of blockchain technology and digital currencies. Now, gaming has transformed from a simple source of entertainment to a source of passive income for the players.

The play-to-earn gaming concept is facilitated by Non-Fungible-Tokens (NFTs). NFTs are digital assets representing real-world objects that cannot be replicated and are irreplaceable, unique, and indivisible. These digital tokens are cryptographically tokenized using blockchain technology and are in-game assets in the gaming arena. The players can own these unique digital assets called NFTs. They can either win them while playing or can purchase them.

But wait, there’s more to it. The players can also leverage the decentralized integrity and security of these tokens and sell them outside the platform to generate real-world value for their tokens. There are various options for players; they can certainly stake, battle, or earn these tokens that carry real-world value. In this manner, the newest play-to-earn gaming model combines NFTs, video gaming, and decentralized finance in a way to offer a credible source of income to the gamers.

Now there comes the big question, Can someone really make life-changing money from the play-to-earn games in the metaverse? Well, the statistics are startling.

The gamers never had this opportunity before to get rewarded in monetary terms to spend their time doing something that is merely their favorite pastime; gaming.

Archit Aggarwal (Founder) — Linkedin

Archit Aggarwal is a certified Chartered Accountant and the Founder of the Logix ecosystem. He is a finance professional who brings with him an enriched professional experience of more than a decade. An enthusiast of blockchain technology and digital currencies turned entrepreneur, he is a rare example of an accounting-trained entrepreneur in the cryptocurrency space.

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