Play-to-Earn Games Philippines can be a fun source of income

Play-to-earn-games

The online gaming community worldwide is witnessing a steady growth in members of all ages and from all over the world. With the gaming industry currently being worth more than $180 billion, this rise is only expected to continue. Recently, a new form of gaming called “Play-to-Earn” has emerged that has taken the community by storm, particularly Play-to-Earn in the Philippines.

Simply put, Play-to-Earn games provide the opportunity for players to make money by playing games online and earning collectibles. This is made possible through blockchain technology – the same technology used to power Bitcoin – to keep track of users’ progress. In Play-to-Earn games like the popular Axie Infinity, players can earn in-game items that are represented by Non-Fungible Tokens (NFTs) on the blockchain. Players can later choose to trade or sell these NFTs for cryptocurrency and then convert to local currency. This kind of virtual economy is still relatively new to some people and might seem a little hard to comprehend, however when you break it down, Play-to-Earn Games in the Philippines becomes a very exciting and effective way to earn income.

The idea of blockchain technology has been around for a long time and was originally used to operate cryptocurrencies like Bitcoin and Ethereum. Blockchains are a decentralized way of sharing and storing information so that it cannot be owned by a specific entity. Through the use of complex cryptography, data on the blockchain is protected from fraudulent attackers and is impossible to tamper with.

Blockchain developers found that the technology was also powerful with other use cases. As a result, NFTs emerged. NFTs are media files that live on the blockchain and can be owned, traded and sold by users.

His is a totally new concept and it enables gamers to play the games they love with purpose and deeper vested interest. When someone decides to quit or sell their assets, there are certain markets that bring together these gamers so they can exchange assets. Items from Axie Infinity for example can reach a sell price of up to 300 ETH (currently 1.2 million USD) in value.

Getting started in Play-to-Earn games in the Philippines is simple. Axie Infinity requires investment in three Axle characters to get started. Leading gaming guilds such as Crypto Gaming United have gained popularity as a start up in the crypto-gaming space as they provide scholarships for gamers to get started with zero investment.

Source: https://www.manilatimes.net/2021/12/07/public-square/play-to-earn-games-ph-the-future-of-gaming/1825033

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