The Metaverse is a virtual reality space where users can interact with a computer-generated environment and other users. It’s a digital universe that offers an extension of our physical reality, enabling transactions, such as purchasing buildings or plots, to be made through this platform. Transactions are usually conducted using cryptocurrencies, and the Metaverse allows people to socialize with friends, attend events, or buy goods and services. Furthermore, the Metaverse play-to-win system is an innovative feature that allows users to earn income while playing games in this virtual world.
Most of today’s Metaverse environments are powered by blockchain technology. Users need to have cryptocurrencies or non-fungible tokens (NFTs) to transact in these virtual spaces. Many play-to-win games today have their own Metaverse universes and native cryptocurrencies, which they use for transactions and to redeem in-game assets and rewards.
Understanding Play-To-Win Games
The play-to-win model offers financial rewards to users who add value to the game ecosystem by playing and spending time in it. The gaming market has recently seen significant investment from large venture capital firms. In the first half of 2021 alone, 24 blockchain-based gaming companies received a total investment of $476 million. With the evolution of technology, Metaverse play-to-win systems are becoming increasingly popular.
The Metaverse Play-to-Win Game System Explained
To understand how Metaverse play-to-win games operate, we can look at Axie Infinity as an example. Axie Infinity is a blockchain-based game developed by Sky Mavis from Vietnam and has more than one million daily active users. Players are drawn to adorable creatures called Axies, which they can breed, buy, and train. The aim of the game is to earn a coin known as the Smooth Love Potion (SLP), which players can use to produce Axies. This provides users with a competitive edge in the game.
Players strive to accumulate as much SLP as possible since it can be traded as a cryptocurrency on the exchange. Top-performing players can earn up to 1,500 SLP (worth approximately $250) per day. Players also have the option to sell their Axies and other in-game assets such as real estate and flora as NFTs in an open market. Therefore, Axie Infinity is a notable part of the Metaverse play-to-win economy. By earning SLP, players can turn their Axies and other in-game assets into financial gains. Thus, the Metaverse play-to-win system enables users to earn money for the time they spend playing.
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