Crypto gaming: Separating the truth from lies
Hello, let’s jump straight into business. I have a lot on my mind.
Well, let’s get on with it.
Today, I want to talk about crypto gaming. I keep hearing optimists like you talk about crypto gaming like it is the best thing since sliced bread. Y’all make it sound like all you need to do is play games and money will start flowing when in reality it is different.
What do you mean?
Don’t pretend that you have no idea that on play-to-earn games like Axie Infinity you have to purchase 3 NFTs worth about $1000 just to play the game. How do I splurge that amount when I’m not even sure of making it back. Please explain to me.
Ooh i get your grudge but Axie Infinity is just one out of over hundred of crypto games available on the web. So let me get to the crux of your argument which is paying to own NFTs to play crypto games.
Firstly, not all crypto games require that you purchase NFTs to play for rewards. Secondly, Axie Infinity utilizing this method does not change the fact that it is a Play-2-Earn game.
The NFTs that you purchase when you start the game are called Axies — Pokemon like creatures — that you can breed and use to battle other gamers.
Axies are very expensive due to the popularity of the game. More than 1 million people play Axie Infinity monthly and there’s high demand for Axies. Using basic economics when there’s high demand the price increases.
Are you justifying paying $1000 just to play a game?
I’m not! I’m just trying to let you understand the basic reason for the high cost. Also gamers are still trooping in which should let you know that the earning potential is massive and legit.
For example, if you can earn rewards in a special token called SLP (Smooth Love Potion) for completing daily tasks. SLP tokens can be withdrawn from the game and traded for real money on exchange platforms like Binance.
You can also participate in adventure or arena games where you battle with other gamers and breed Axie. On average it takes between 60–90 days to recoup initial costs.
Imagine taking three months to get back my investment
I personally don’t see why this is a problem. Remember that you get to keep the Axies forever and earn rewards from the game. You can even decide to sell the Axies after you recoup the initial investment and make a tidy profit.
So it is justifiable. Or do you prefer traditional games like FIFA or Call of Duty where you pay to play without any hope of rewards.
I don’t play those games i stick to free games like PUBG
There’s no such thing as a free game to be honest. We both know that if you want to go far in PUBG you need to purchase special weapons and upgrades that cost real money.
If you’re a true gamer as you claim you could end up spending hundreds of dollars for upgrades with no hope of reward beyond the thrill of gaming. At least with crypto games, I get assurance that I’ll earn some form of rewards in tokens.
So you’re admitting that crypto games are pay-to-earn
No, I’m not. I was just explaining Axie Infinity. There are several free-to-earn games in the crypto world like Splinterland, God’s Unchained, and the Sandbox. God’s Unchained for example is a tactical card game where players can collect cards from different sets, build decks, and battle opponents.
When you sign up to the game, you’re granted a welcome set of 140 cards. As you level up and play games in God’s Unchained you get access to more cards and rewards. So don’t just conclude that there are no free-to-earn crypto games.
Yea i hear you. But we both know that most of these crypto games are scams. Remember Squid game a crypto game that collapsed to almost zero after rising to $2800. How do you know that Axie Infinity or God’s Unchained won’t collapse in the future?
The crypto world is still young and most crypto games only first appeared in 2013. But from all indications the future is bright. The gamefi industry is worth more than $5 billion and like other sectors of crypto there are dangers that exist.
Squid token is an example of people buying into a project without understanding how it works. In most cases many projects simply launch regardless of the game’s development stage.
So it is important to do your own research when choosing a GameFi project. Watch how actively it is promoted and what benefits the projects token bestows on gamers. Any project that promises unrealistic promises and looks suspicious is likely to be a scam.
Hmm that’s a lot of advice from a crypto optimist. I think i’ll stay away from crypto games