As fanciful as play-to-earn games are, they are not devoid of many misconceptions and misunderstandings or myths about them. Mainly, play-to-earn games come with a monetization system involving the use of NFTs based on the blockchain network. Let us look at some common myths that most people cling to and attempt to debunk.
Subsequently, we have had much interest coming from game lovers of different categories of play to earn games. A guide like this is to help anyone figure out their way and be more productive with the game. At the same time, developers and game lovers can make many profits as long as the game remains active.
Myth 1: Games that have open economies are evil
The unique difference between traditional and play-to-earn games is the principle of an open economy. Before digital games, a player could play a board game and resell it to any other player afterward. Anyone who designs a video game could download some game software online. Another option is to enter a physical store and pick your favorite video game and other components to start playing.
The components may include the console, machine, box, and cartridges. Some of the typical game samples one can own are “Magic: The Gathering (MtG)” and “Pokémon.” These games are specifically designed to operate in an open real-world economy. Players can also initiate and complete their trading using individual cards. The more recent online games, however, there are now virtual world-based.
Players can now spend time playing a game with a closed economy. At the same time, the MMORPGs allow players to trade in-game items between each other. Meanwhile, most mobile games hardly allow anyone to trade currencies directly. The reason is simple: experiencing these games may depend on a finely-tuned progression system. In summary, modern games with open economies are ethically and morally neutral.
We are in no doubt that some usurpers out there pretend to have some funny offers. In the end, they only succeed at ripping people off their hard-earned money and spoiling the business of hardworking game developers. On the other hand, other sincere game projects are failing at a considerable rate. You can also create or sell NFTs and other tokens through crowdfunding via the blockchain platform.
Myth 2: The Ecological impact
A myth making the rounds is about the ecological impacts of running games on blockchain technology. The idea here is that people often forget there is a stark difference between traditional and digital games. As a result, the blockchain technology housing the modern games have changed the narrative in no small way.
For example, blockchain technology has two powerful algorithms: proof of stake (PoS) and proof of work (PoW). The PoW is the basis for solving cryptographic puzzles to reach a consensus serving common crypto coins like Bitcoin and Ethereum. Therefore, a regular energy supply is required to enable operations to run smoothly. On the other hand, some of the games on a PoS blockchain are Solana, Polygon, Avalanche, and Hedera.
Therefore, the only time such fears may come for blockchain is during the installation of the early projects. So, it is tedious work to develop and launch active play-to-earn games. The developer may need to create some constant refinement, iteration, and learning. When you see some of the popular video games we have today in their earlier prototypes, they look terrible. But as the designer updated the launch, we began to have safer and more stable game versions.
Myth 3: NFTs are nothing more than links
This myth is too incredible. Some people believe that since NFTs are intangible, they are not valuable. They often think that all you own with an NFT is a token on a ledger that points at something else. The destination of the content may be on a different server somewhere else. First, the last part of the assumption refers to only digital art collectibles.
It is a different case for games where the blockchain holds the in-game assets together. Another purpose of the blockchain platform is to retain the state and accounting history of the game within its economy. While the individual interprets the data on the blockchain however they want, they also have to define the item’s utilization. Similarly, it doesn’t stop the fact that you own the system sharing the stake in the system.
There is a mixed reaction to invalidating this myth. While an NFT points at an asset on a digital network in URL form, the server must remain online and active. If anything takes the server offline, your NFT is gone and cannot be traced. Therefore, to keep the ownership of the NFT intact, the servers are the dependencies and must be up. However, permanent storage offers do not depend on having an active server to retain ownership and protection.
Myth 4: There are already solutions in the existing technology
Is it true that we have a better database than blockchain technology? Do we have scalable, faster, and more dependable network technology outside blockchain? Even if that is true, that is not the exact problem that using blockchain solves. Blockchain technology as a platform for play-to-earn games provides an ecosystem for people and software to exchange values with one another.
Before having blockchain, what we had were open economies for centralized service. In the open economy, a centralized service provides excellent APIs for participants. No matter how much you trust the services in use, you can move it to a different economy. Therefore, the centralized systems are relatively archaic, while the transactions are limited and constrained.
While examining some of the common myths about play-to-earn games, one must consider the facts that disprove them carefully. Moreover, the interoperability of these play-to-earn games is corporately essential and helps to promote its values. So, how exactly can the decentralized ecosystem and the economy bring you value? Explore more with play-to-earn games and build credible wealth.