staking, <strong>cultivating in-game currency</strong>, or creating tradeable <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">
NFT products. Users in previous blockchain games relied purely on mere luck to benefit. Play-to-earn has given rise to in-game economies and business concepts in which gamers may make an income.</p>\n<p>Video game business models have evolved to a whole new level as technology has become more available to the general population. Formerly, arcade machines in designated gaming arenas were the only places where you could play games. With a sack full of quarters, players would compete for the highest score. </p>\n<p>Things changed dramatically, though, when the technological revolution introduced games to our cellphones, home computers, and gaming consoles such as the PS5, Xbox, and so on.</p>\n<p>Currently, the world was introduced to a new gaming model known as play2earn, particularly from the blockchain perspective. It successfully provides players with the possibility to generate revenue by partaking in games.</p>\n<p><strong>Gamers generate value</strong> for other gamers as well as developers by interacting within the in-game environment and gaining assets for their participation. These digital assets can be anything from coins to accessories that have been <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-tokenize/">
tokenized on the blockchain.</p>\n<p>As a consequence, the play-to-earn business model complements blockchain gaming well.</p>\n<p>Moreover, the NFT industry has already topped $2.5 billion in sales in 2021, and this figure is expected to rise dramatically as new NFT games hit the market. The rise of NFT is spawning a new era of revenue streams within the blockchain world. It may not be long until it outpaces just about every major business.</p>\n<p>A fitting illustration of P2E is <strong>Axie Infinity (AXS).</strong> In this particular game, Axis are cute animals that players get, breed, and then use to battle and obtain rewards. Every Axie is, in fact, a non-fungible token, so it is a one-of-a-kind virtual collectible.</p>\n<p>Besides, there is a world called <strong>Lunacia</strong>, which is a whole new economy within the game. 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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get 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Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto 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Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":609,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Pre-Sale?","slug":"what-is-pre-sale","section":"P","keyword":"Pre-Sale","status":"published","definition":"the sale of a cryptocurrency before its official public launch.","content":"<p><strong>Pre-sale</strong> is the practice of putting a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">
cryptocurrency up for sale ahead of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">
initial coin offering (ICO)</strong></a>. During the pre-sale, the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens are sold to interested investors and other relevant parties.</p>\n<p>A pre-sale strategy can be beneficial to both the developers of the cryptocurrency and the investors and it helps ensure the success of the currency ahead of its launch.</p>\n<p>The developers can receive the funds needed to complete the project. The investors taking part in the pre-sale <strong>obtain</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-altcoin/">altcoins that they can add to their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-portfolio/">portfolio with the expectation that their value will increase over time.</p>\n<p>A pre-sale can also be organized as a PR campaign to boost the marketing for the ICO. This is a strategy done with the intent to increase the asset price soon after its public launch.</p>\n<p>There are some <strong>risks</strong> to holding a pre-sale. If the project fails after its launch or the developers fail to deliver the final product, investors may lose their money on worthless assets. Furthermore, the altcoin scene is highly competitive so it can be hard to ensure that the value of the new coin will stand out in the market.</p>\n<p>Developers also have to be mindful of the investors purchasing the asset during the pre-sale as their goal may be solely to sell it soon after the launch at favorable prices and make a significant personal profit. If investors massively <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-dump/">dump new cryptocurrency coins soon after the ICO, it can negatively impact the market reputation of the assets and its developers.</p>","level":"easy","meta_title":"What is Pre-Sale? Definition & Meaning | Crypto Wiki","meta_description":"Pre-Sale meaning: Pre-Sale - the sale of a cryptocurrency before its official public launch.","meta_keywords":null,"language":"en","created_at":"2022-03-25T13:45:59.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-pre-sale"},"prevSection":{"id":606,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Permissionless?","slug":"what-is-permissionless","section":"P","keyword":"Permissionless","status":"published","definition":"a system without a central authority that regulates who can use it and how.","content":"<p>A <strong>permissionless</strong> system is a term used to describe most <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain networks. In a permissionless system, no central entity can control who can use it nor limit its utility. The users are not constrained by any restrictions and do not require permission to use the system in question.</p>\n<p>The permissionless systems used for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies and other <strong>blockchain-based technologies</strong> are among the standout features. Blockchain-based cryptocurrency <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> is considered permissionless as it can be used by anyone to the extent that the protocol itself can handle.</p>\n<p>Cryptocurrencies can be used by entities that, for various reasons, cannot use central banking systems, such as <strong>political dissidents</strong>, blacklisted organizations, or criminals. Transactions on permissionless blockchains can’t be censored.</p>\n<p>Permissioned systems, like traditional financial institutions, are overseen by a central entity that can <strong>limit access to the system</strong> and how it can be used. Institutions like banks can restrict who can open accounts and use financial services, as well as which services they can access in particular.</p>\n<p>Some blockchain systems may be permissioned and have limited accessibility to the broader audience. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-blockchain/">Private blockchain networks</strong></strong></a> are used by large-scale organizations and the access is only granted to the market participants by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whitelist/">whitelisting certain addresses.</p>\n<p>The core idea of the blockchain and crypto communities is <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralization. Based on this principle, <strong>no central party should have the authority to allow or deny access to the services provided by permissionless platforms</strong>. In many cases, entities that want to access a permissionless network do not need to provide any proof or meet <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-know-your-customer-kyc/">KYC requirements.</p>\n<p>Permissionless blockchain networks ensure that the users cannot be censored or discriminated against on any grounds. All users have equal opportunities to participate in and utilize the system as they please, regardless of their identity.</p>\n<p>Many permissionless networks use decentralized consensus mechanisms like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work (PoW)</strong></strong></a> or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)</strong></a>. Relying on such measures ensures that the system is managed by a network of participants or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-node/">nodes, known as miners and stakers.</p>\n<p>The <strong>network nodes</strong> work on maintaining the system viability and ensure the operations are seamless and honest. Cryptocurrencies like Bitcoin (BTC), <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum (ETH)</strong></a>, and <strong>Monero (XMR)</strong> function as permissionless networks.</p>\n<p>Permissioned networks, like Meta’s Diem or blockchains developed for enterprises, can be restricted by a central authority who can limit the overall access to the network or some of its functions. Such networks also typically require the users to provide <strong>proof of identification</strong>.</p>\n<p>Permissioned networks use a limited number of validators who provide cryptographic security, and are given authority to produce new blocks and otherwise contribute to the network development.</p>","level":"medium","meta_title":"What is Permissionless? Definition & Meaning | Crypto Wiki","meta_description":"Permissionless meaning: Permissionless - a system without a central authority that regulates who can use it and how.","meta_keywords":null,"language":"en","created_at":"2022-03-25T13:42:23.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-permissionless"},"currentChapter":"P","currentSection":"what-is-play-to-earn-play2earn","chapterTitle":"P","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-play-to-earn-play2earn","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter P
What is Play-to-Earn (P2E; Play2Earn)?
Play-to-Earn (Play2Earn) MEANING:
Play-to-Earn (Play2Earn) -
a style of gaming where the players can obtain any type of in-game product, which can subsequently be transferred to the real world.
Let's find out Play-to-Earn (Play2Earn) meaning, definition in crypto,
what is Play-to-Earn (P2E; Play2Earn),
and all other detailed facts.
Play2Earn (P2E, or play-to-earn) games are a type of gaming in which a network allows its users to acquire any type of in-game commodity that can then be transferred to the physical world as a desirable attribute. By playing a particular game regularly, each player has the possibility to earn more items or tokens to sell and generate income.
The method of each game may change, but the benefits are typically derived through staking, cultivating in-game currency, or creating tradeable NFT products. Users in previous blockchain games relied purely on mere luck to benefit. Play-to-earn has given rise to in-game economies and business concepts in which gamers may make an income.
Video game business models have evolved to a whole new level as technology has become more available to the general population. Formerly, arcade machines in designated gaming arenas were the only places where you could play games. With a sack full of quarters, players would compete for the highest score.
Things changed dramatically, though, when the technological revolution introduced games to our cellphones, home computers, and gaming consoles such as the PS5, Xbox, and so on.
Currently, the world was introduced to a new gaming model known as play2earn, particularly from the blockchain perspective. It successfully provides players with the possibility to generate revenue by partaking in games.
Gamers generate value for other gamers as well as developers by interacting within the in-game environment and gaining assets for their participation. These digital assets can be anything from coins to accessories that have been tokenized on the blockchain.
As a consequence, the play-to-earn business model complements blockchain gaming well.
Moreover, the NFT industry has already topped $2.5 billion in sales in 2021, and this figure is expected to rise dramatically as new NFT games hit the market. The rise of NFT is spawning a new era of revenue streams within the blockchain world. It may not be long until it outpaces just about every major business.
A fitting illustration of P2E is Axie Infinity (AXS). In this particular game, Axis are cute animals that players get, breed, and then use to battle and obtain rewards. Every Axie is, in fact, a non-fungible token, so it is a one-of-a-kind virtual collectible.
Besides, there is a world called Lunacia, which is a whole new economy within the game. In there, users can get land and breed Axies utilizing their in-game tokens, Axie Infinity Shard (AXS), and Smooth Love Potion (SLP).
The advantages are also transferred to the physical world.
Play-to-earn games such as Axie Infinity, are already assisting individuals around the globe in earning a good amount of capital. For instance, people in the Philipines are earning $1,500-$2,000 a month just by playing Axie Infinity as a hobby.
