MANILA, Philippines — Traditional gaming involves spending cash on a game, putting in endless hours until it grows tiresome. Before long, you put it aside until you remember to pick it up again. Other than being a fun time killer, traditional gaming doesn’t really hold any real-life benefit.
This is why gaming is still regarded as a waste of both time and money.
However, a new era of gaming is on the horizon. Play-to-Earn Games, also known as blockchain or NFT games, provide a great opportunity for gamers to have fun while reaping financial benefits.
As you play, compete and earn more in-game items, you start making money. Do Play-to-Earn Games in the Philippines sound appealing? Then read on.
In a nutshell
Despite the Play-to-Earn Gaming model being relatively simple, many are still perplexed about how Play-to-Earn Games in the Philippines work.
These games allow players to earn NFTs on the blockchain which can later be traded for cryptocurrency or cash. The NFTs are usually used to represent in-game items and collectibles, but certain games also provide the opportunity to directly earn in cryptocurrency.
As a game increases in popularity, its NFT collection may increase in value. For this reason, it is generally a good idea to get started as early as possible in order to capitalize.
What are NFTs?
Now that the mode of action of Play-to-Earn Games in the Philippines is clear, it’s important to understand NFTs and how they work.
An NFT (non-fungible token) is a unique media file that has a specific owner. This owner is dictated by the blockchain and can choose to trade the NFT at any time. Blockchains are an incredibly secure and reliable way of keeping track of things.
In the world of Bitcoin and other cryptocurrencies, the blockchain keeps track of the number of coins each user owns. For NFTs, the blockchain is used to know who currently owns an NFT.
When a player makes progress on a game and earns an NFT, it is transferred to their personal address on the blockchain. From there, they are free to trade it, hold it or do whatever they want with it as the ownership belongs to the player.
The most popular Play-to-Earn Game called Axie Infinity alone has generated around $2.5 billion in NFT trading volume. This is a huge amount considering that only a small portion of the gaming community plays Play-to-Earn Games in the Philippines.
How to get started
Once you’ve decided on the game you want to play, it is often required that you put an initial investment into your first NFT for that game.
As you play and improve, earning more NFTs is a natural progression. For those who don’t want to spend money to play, it is possible to borrow the initial NFT with the introduction of Play-to-Earn Guilds.
One of the largest and fastest-growing guilds providing Play-to-Earn Games in the Philippines is Crypto Gaming United (CGU).
Guilds like CGU loan the NFTs required to start playing to the player so they can start immediately. This makes it easy for anyone in the Philippines to quickly get involved and start enjoying the world of Play-to-Earn games.