how to get started and what you can earn

The video game market is thriving. Discover potential rewards and opportunities in crypto with play-to-earn (P2E) games.

The global video game market is experiencing a rapid growthwith projections indicating a substantial increase in revenue to $282.30 billion by 2024.

Regions such as China are expected to contribute significantly to this increase, with projected revenue generation of $94.4 billion this year.

Furthermore, the market is expected to maintain this momentum with an annual growth rate of 8.76%, reaching a staggering $363.2 billion by 2027.

In this changing landscape, play-to-earn (P2E) games are gaining attention. These games offer the traditional gaming experience but also give you the opportunity to win real cryptocurrency rewards.

However, the entry point to these games varies depending on the title. For example, Axie Infinity (AXS), a prominent player in the play-to-earn space, requires players to invest in at least three Axies. priced between $2 and several thousand dollars each.

In contrast, games like Decentraland (MANA) offer a more accessible starting point. Players can start their journey with a MetaMask wallet, although additional investments in virtual assets such as MANA currency may be required to access certain features.

When considering your potential income, it is essential to understand that it can change. This change is affected by factors such as token value and player engagement.

For example, community reports. suggest an average daily earning potential of around $1 within Axie Infinity.

Additionally, the secondary market for in-game assets, particularly non-fungible tokens (NFTs), presents players with the opportunity to earn additional income streams, as demonstrated by Decentraland's success in nft sales.

Games leading the P2E race

Let's analyze above interpreter artists or executants in the P2E market according to data from the last 30 days:

• motoDEX: MotoDEX, ranked first among P2E games, operates on a multi-chain model. In the last 30 days, it has witnessed a 35.6% increase in unique active wallets (UAW) and a 512.91% increase in transaction volume, taking its total transactions to 8.31 million.
• Sweat economy: Sweat Economy operates on both the ethereum and Near chains. The hosted version of ethereum (eth) saw a modest 2.56% rally on UAW, while the quasi-hosted counterpart saw a 4.42% rise with total transactions of 6.49 million.
• Cheat Bombing: Third, Trickshot Blitz runs on the Flow blockchain. However, it faces challenges with a 17.93% decline in the UAW and a decline in transaction volumes in the last 30 days.
• PlayEmber: Fourthly, PlayEmber is present on the ethereum and Near chains. ethereum-based activity decreased by 20.87% on UAW, while Near witnessed a decline of 35.38% over the past month.
• Pixels: Securing the fifth position, Pixels operates on the ethereum and Ronin chains. ethereum-based activity increased by 137.35% on UAW, while Ronin witnessed a 31.94% increase in user engagement. Furthermore, transaction volumes on Ronin skyrocketed by over 3000%.

How to make money with P2E games in 2024

The P2E market is volatile and profit potential fluctuates due to factors such as token value, game popularity, and demand for in-game assets.

Successful monetization strategies in 2024 will depend on staying informed about market trends, choosing the right games, and managing assets intelligently. This is what you can do:

Select the right games

Decentraland, The Sandbox (SAND), and Axie Infinity stand out as prime examples of P2E games that have generated high returns for early investors and remain by far the most valued games based on market capitalization.

Meanwhile, as of March 7, motoDEX, Sweat Economy, and Pixels stand out for the unique growth of their active wallets (UAW) and transaction volumes according to DappRadar.

Focus on games with high reputation, popularity, UAW, and transaction volume as they indicate an engaged community, a key factor for potential profits.

Don't put all your resources into one game. Spread your investments across different blockchains and game genres to mitigate risks associated with token volatility and changes in game popularity.

Earning strategies

• Active participation: Participate daily to maximize earnings through gameplay, challenges, and community events. For example, Sweat Economy rewards users for physical activity, promoting constant interaction.
• Asset investment: Investing assets in the secondary markets for games like Decentraland and The Sandbox can be lucrative, especially for early investors or those with an eye for valuable game assets. Time is crucial; buying assets when prices are low and selling them during peak demand. Analysis of historical price data and community sentiment can inform buy/sell decisions.
• Staking and investment: Some P2E games offer staking mechanisms where you can earn dividends or interest on your assets or in-game tokens. This can provide a passive income stream along with active gaming earnings.
• Guild Membership: Joining a guild can provide access to premium gaming assets without an initial investment, sharing the profits from collective profits. It's also a great way to learn strategies from experienced players.

Calculations and profitability analysis.

• Return on investment (ROI): Calculate startup costs (purchase of game assets, transaction fees) versus daily/weekly profits to understand your break-even point. For example, if your initial investment is $100 and you earn $5 a day, your breakeven point is 20 days.
• Market analysis: Keep an eye on the prices of tokens and assets within each game. Use tools like DappRadar and NonFungible.com to analyze market trends and identify profitable assets.
• Community involvement: Active community participation can offer insight into upcoming updates, market trends, and hidden revenue opportunities. Reddit, Discord, and Twitter are essential platforms for P2E gaming communities.

Current state of the P2E market

In 2023, the blockchain gaming sector witnessed major changes and challenges along with notable successes.

According data According to the Big Blockchain Game List, in 2023 more than 30% of announced blockchain-based games were canceled or discontinued.

This trend was particularly evident on platforms such as Binance Chain (BNB), Polygon (MATIC), and ethereum, highlighting a high level of project attrition within the industry.

According to the latest DappRadar report, blockchain games attracted significant capital in 2023, with investments totaling $2.9 billion across 163 deals in metaverse and web3 gaming projects.

This marked a notable 62% drop in funding and a 19% decline in the number of deals compared to 2022, when blockchain games received $7.6 billion in funding.

Market composition largely unchanged crypto-gaming-predictions-2024-breakout-year” target=”_blank” rel=”noopener”>dominated for independent or medium-sized projects, with only a small fraction (6%) obtaining higher AA and AAA funding levels. However, Asia emerged as a prominent center for new game development, with half of all new games originating from the region.

Meanwhile, blockchain games accounted for the largest proportion (34%) of dapp activities in 2023, attracting a daily active user base of 1.1 million.

WAX emerged as a prominent gaming blockchain in 2023, attracting over 3 million new wallets and processing 4.7 billion gaming transactions, cementing its position as a key player in the blockchain gaming space. .

Additionally, in-game nft markets saw significant activity throughout the year. Notable platforms like Gods Unchained and ethereum led the pack in trading volumes, with Gods Unchained achieving a notable trading volume of $209 million and ethereum maintaining its dominance with $347 million in in-game nft trades.

Conclusion

Prioritize games with established popularity and engaged communities, as they often offer more stable earning potential.

Additionally, stay informed about market trends and monitor token and asset prices regularly. Remember to approach P2E gaming as a long-term investment, exercising caution and diligence in your decisions.

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