Why Play-to-Earn NFT Games are the Key to the Marketing Monetization Challenge


Why Play-to-Earn NFT Games are the Key to the Marketing Monetization Challenge

Team Streams

March 11th, 2022

Why Play-to-Earn NFT Games are the Key to the Marketing Monetization Challenge

How do I ensure that my campaigns will be discovered and that my marketing will be monetized? 

It's the first question that CMOs ask about any marketing campaign. However, we are seeing one key area of marketing where these problems are experienced far less:

Play-to-earn games. 

In this blog, we will discuss what are play-to-earn games, how they work, how they become popular and how you can use them to make money. 

 

What is a Play-to-Earn NFT Game?

 

Play-to-earn NFT games are the next big thing. NFT bounty for the participants of free games has further increased the popularity of play-to earn games. 

A play-to-earn NFT is exactly what you think. It is a game that gives you the possibility to win NFTs simply for logging on and playing.

These games are growing in popularity day-by-day and users have the potential to earn a hefty sum from the tokens they win from games via auctions. 

The change in the gaming industry to a play-to-earn model and the rise of mobile gaming has made it possible for a rise of NFT incentives. This could be a start of a bright future for the gamers who try their hands on developing a gaming platform that could earn huge profits.  

 

The Rise of the Play-to-Earn Model

 

Play-to-earn was not always the way gaming worked. But it is not a new concept either. Back in 1958 William Higinbotham created what is thought to be the first-ever video game. 

The game was simple. Are you familiar with the 1970s classic pong? It was something similar but with tennis. The game became a big hit. 

Interest continued to grow and the gaming industry started to boom. Mobile phones later had a huge impact on the gaming industry by increasing accessibility and further fueling growth. Gamers made transitions and the types of popular games changed. Audiences went from being obsessed with Space Invaders and PacMan played on arcade machines to Vice City and Assassin's Creed on consoles and mobiles. Gamers then were also able to make in-game purchases to flaunt with their characters and compete with friends and rivals.

The initial incentive for purchasing these in-game items was that it made gamers characters stand out from the crowd. However, this motive has evolved and modern mobile gamers want incentives for their time which has led to the rise of the play-to-earn model.

 

Example of Moneymaking NFT Games

 

How can game designers use NFTs within a play-to-earn model to monitise games? Some great examples are: 

SANDBOX

A virtual world where people can build a platform to earn, own and monetize their experience in the virtual game. 

SANDBOX has offered a free NFT for new users creating an account. It is something that people can afford and earn a lot of money. 

LAND 

Welcome to the metaverse, where you can get access to the digital content that will monetize your part of the SANDBOX's metaverse. 

SAND is the token used to buy Land and other assets in the metaverse.

 

How Do Play-to Earn Games and Ownership Work? 

 

Many of the money-making games provide you rewards in the form of NFTs. These money-making games rely on blockchain technology, Where you can sell those items that you earn in the form of NFTs on a dedicated marketplace. This incentivises users by giving them rewards beyond those that they can flaunt in-game and giving them the opportunity to earn rewards that can be traded for real world cash. 

The game's data and the user's NFTs are stored in a secured digital ledger and protected with high-level security. This provides further incentive to users to participate in the play-to-earn model as they understand that there are minimal risks in terms of security. 

 

To Sum Up

 

The play-to-earn model has been a prevalent part of gaming for some time but in recent years it has evolved from in-game rewards to real world cash. This model should be at the forefront of game designers minds if they want to create effective games that keep users engaged. 

 

See inspirations here:

 

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