You are currently viewing How to Start Play-to-Earn Games in 2022

How to Start Play-to-Earn Games in 2022

You may have heard many fanciful things about the play-to-earn games and decided to try them. So, it is time to learn how to start each of the standard games work and how you can begin to earn money from your investment. An excellent place to start your search is to choose the most suitable game for you among the play-to-earn game collection. So, how do you select a cooperative game to play?

How to choose the best play-to-earn game

Any player may be interested in different classes of games within the entertainment industry. For instance, there are best play to earn games themes that are based on adventures. Some are based on soccer, others are based on battles, yet others are massively multiplayer online role-playing games (MMORPG). The play-to-earn games represent a new evolution when it comes to gaming.

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However, the major surprise is the ability of the game players to earn money from playing. The most fundamental principle is to enjoy playing the game. Some games are unsuitable for people who quickly feel bored while working. Perhaps, the following questions can help you figure out if playing P2E modeled games is for you. 

  • Is there an initial cost before you start playing this game
  • If it requires funds, is the startup fund affordable to you?
  • Do you find this game interesting, and what are the exciting features?
  • Does the game offer a free trial version or period?
  • How do you understand the game mechanics or principles?
  • How do the game developers going to make money?
  • Do you understand how the game token economics works?

If you find a freemium version of the game you choose, you can begin with that. Such a trial period allows you to try out the game’s different features and test what works for you. If these features are worth your time, they could also be worth your money. You should learn other parts of the games, including the price, the non-fungible tokens they use, profitability, and overall rating. 

How to Start Play-to-Earn Games in 2022

How to create a crypto wallet

Since these play-to-earn games are based on blockchain technology with cryptocoins, every player will need a crypto wallet to begin. Moreover, the wallet IDs serve as the means of connecting to the game economy for profit-making. At the same time, you can better connect with the game environment when purchasing, selling or trading the in-game assets, such as skins in the form of non-fungible tokens (NFTs). 

The commonly free online wallet would be Metamask, a suitable browser extension, and app. It also allows players to synchronize them with the player’s account and link them up with any gaming environment he desires. Players can also store cryptocurrency on any blockchain you need. However, the platform may also be a target for hackers to bring down.

Therefore, the best way to get the best out of Metaverse is to secure one’s sing-in details, including passwords and keyphrases. You may even consider some physical wallets to store the acquired NFTs or coins for a better balance. Using a physical or offline wallet ensures that the cryptocurrency is safe and challenging to hack.

However, no matter the physical access for better security, every player needs a crypto wallet such as Metamask or its alternative for online wallet transactions for the ledger many times. You can transfer the coins from one player to another by linking to a digital wallet. Another essential digital wallet service is the Phantom, a popular one on the Solana blockchain. Players can use this wallet to store and trade cryptocurrency and NFTs on Solana.

How to buy cryptocurrency?

There are multiple ways to buy cryptocurrency, but it depends on the type of crypto coins you intend to purchase. A companion app can work for players who already own a ledger where they can buy, sell, or swap any crypto asset. On the other hand, players without a prior ledger can create a Metamask browser or app wallet to buy the needed coins to start the game. 

How to Start Play-to-Earn Games in 2022

Buying Cryptocurrencies from Centralized Exchange platforms

The first place to think of buying cryptocurrency is a centralized exchange platform (CEX). And the most common ones are Coinbase and Binance. Both platforms are similar to a typical financial institution and even more. Moreover, they trade exchanges between fiat currencies and cryptocurrencies. Opening an account with either of the two platforms is very easy. Still, it requires tedious verification, which is expected of such a sensitive platform. 

When you successfully verify your account, you can begin to buy ad trade cryptocoin on the platform. For example, Coinbase is an easy-to-use platform where anyone with verified messages can buy cryptocurrencies. The available coins include BTC, ETH, USDT, and many more. Binance has a more extensive collection of coins with a private exchange program for swapping cryptocoins with other users through private transactions.

However, every private transaction, known as peer-to-peer trading, attracts a commission fee. On the other hand, the Binance platform also has its chain known as the Binance Smart Chain, with a symbol of $BSC. Binance and Coinbase allow users to make payments with a credit or debit card. These cards can transact with fiat currencies, be it AUD, USD, GBP, or EUR, versus cryptocurrencies. 

Buying Cryptocurrencies from a Decentralized Exchange platforms

Despite the availability of centralized platforms, not all cryptocurrencies are available for purchase on centralized platforms. Consequently, there is a need for a decentralized exchange, ideal for trading cryptocurrencies. Moreover, players can only buy any in-game asset or character using cryptocurrency, including the governance token and not the debit card. Instead, the player must buy an Ethereum or Bitcoin first, then swap.

The ETH and the wETH are the two most essential coins players should have in their wallets. The primary reason is that many game developers commonly use these two as the in-game currency base. On the other hand, they can be converted to many reward tokens in a play-to-earn game or vice versa. As for the ETH or wETH, the player can easily buy them using a fiat currency that is linked with the payment wallet. 

How to Trade NFTs in 2022

There are two significant components of all play-to-earn games; they are the cryptocoins and the NFTs. Both features allow players to own digital assets and make money from playing these games. The NFT can represent a virtual space, a playing card, characters, or fun. As in-game assets, they can easily be traded in the open market. Usually, the game developers own the game marketplace, but there are secondary marketplaces.