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Types of earnings on P2E games​

Almost all Play-to-Earn games have the same earning concept:

Step 1. Buy the item needed to start the game. This can be: NFT of a character, project tokens, NFT of in-game items.

Step 2. Game process. Here you play and earn game tokens and/or NFTs, which you can then sell and withdraw into real money.

Step 3. Selling accumulations. Here you sell the item you bought to start the game on the first step, as well as all the accumulated in-game tokens and NFTs of the project in order to completely exit it.

Nowadays, many P2E games have a character rental model, and if you do not want to buy a character to start the game or there is no such option, you can rent it. You can also earn extra money by renting out characters.

And by the way, there is also a model of earnings due to guilds, where players play at the expense of investors and simply share a percentage of the income among themselves. One of our guests will tell you a little more about this model, but if you want to feel this guild atmosphere, then here is a video that tells you how During COVID-19, people who lost their jobs in the Philippines were able to come to the guild and earn money from P2E games to feed their families.

What are P2E games in your own words?​

P2E (Play-to-Earn) games – this is the opportunity for every person to monetize their time by playing games and earning cryptocurrency, which can then be sold and exchanged for real money, for example, hryvnia, euros or dollars.

The goal of the P2E direction is to distribute the profitability of games between owners and players, because if we take the familiar concept of video games, then almost all games need to be bought in order to play them, and you can also donate to them.

Of course, to make money on P2E games you also need to donate, but there are also Free-to-Play games without investments, and there are also ways to enter games with investments without investments. We'll talk about this a little later.

Who pays players in P2E games and what are their benefits?​

Many people who are far from cryptocurrency ask the question “Who pays in these games, what are their benefits?” And here you need to understand that in cryptocurrency (on the blockchain), if the project developers do not pay their users in any form, then they will simply not be interested in this project. Right now, it seems to me that 95% of users (and maybe more) of crypto projects come there only for benefits, and not just as an ordinary user of the platform. Therefore, projects are ready to fight for the attention of users, for example, everyone knows about Stepn, because this project really allowed its users to earn a lot. Why couldn’t Stepn’s analogues bypass it? Because they didn’t give users the opportunity to earn so much, but show people the money, and they’ll all be there.

Indeed, it sounds good, but why did Stepn lose popularity?

P2E games have their own downside, such as “pyramidalism”. The project pays as long as it receives new money from new players. That is, for example, one of the ways Stepn brought in new money was by selling sneakers to players. When all the ideas for possible variations of sneakers for drops ran out, and royalties on the marketplace from secondary sales stopped covering payments to players, the profitability of the game began to fall. Profitability decreases and interest in the game decreases.

Of course, developers manage to earn a lot of money. They are ready to send their project to the bottom when interest begins to decline, so as not to miss out on potential profits.

This is what the death of a P2E project looks like on a graph.
And this is the problem of P2E games, while they are not stable and beginners can enter at highs, and then receive -90% of the investment and think that it is a scam. This requires experience, which the participants in this article will share. I would also like to add that all P2E problems will be solved in the future, because the world of blockchain is developing and does not stand still.

The Present and Future of P2E​

I have already talked about one of the main disadvantages of current P2E games - “pyramidalism”. These are all the consequences of hype and opportunities for developers to earn a lot. There are entire teams of such developers who churn out games one after another. The speed at which they produce them is the speed at which they die. For today's developers, the main thing is money and they don't care about the game process or its design. Most of the games are similar to online clicker games that existed in 2010 on various forums. Yes, this allows developers and players to earn money if they enter the game on time and leave it on time, but it does not allow adding those players who play Dota 2 or CS:GO for the sake of interest, not money. That’s why the level-up of P2E games awaits us only when they can compete with regular video games in terms of player interest.

Most crypto analysts and funds expect the GameFi industry (which includes P2E) to be a trend in the next bull market cycle. And I think this is true, because right now, in the bear market cycle, incredible projects are being built, involving such giants of the traditional gaming industry as Ubisoft, Tencent, EpicGames.

P2E –
is not just play and earn money, but also an incredible mass adoption of the crypto industry for people far from this direction. Therefore, this niche will be tackled with all hands in order to attract new people to the crypt.


In 2022, crypto funds actively invested in the GameFi sector.
Funds are actively investing in the GameFi sector, and developers with experience from giant companies are also actively involved in improving this industry, so I am sure that an interesting future awaits us.

History of players with experience and recommendations for making money on P2E​

Well, I gave you a theory about P2E, but this is not enough to successfully start making money playing, so I called an admin who specializes specifically in crypto games and is ready to give advice to beginners.

Let's get started:​

What did you do in crypto and how did you get into the crypto industry?
I came to crypto thanks to my interest in new research and experiments. There were several login attempts: the first on the highs of 2013 before the hack of the Mt.Gox exchange and after it, when the number of articles on the Internet about bitcoins began to grow sharply.

Then I came across articles about CPU mining and planned to use an old laptop for this, but those few bitcoins, potentially named, would, according to my calculations, turn out to be unprofitable. But I decided to try anyway, didn’t figure it out after several attempts and put it off until better times. Then there was just a bear cub. I decided to just buy a couple of bitcoins, but I couldn’t hold them and sold them at a minus price because I urgently needed money. A more serious attempt to enter was at the announcement of the Ethereum ICO. I planned to participate for a couple of hundred dollars, but I didn’t understand what USDT is and where to accept it on Poloniex. I had to postpone buying ether until it rose to $8. Its growth and the profit I lost motivated me to completely immerse myself in crypto. True, I thought then that it was too late :) In general, I often hear stories that if you had bought Bitcoin in some 2015, you would have earned x1000... No :) You would rather have earned yourself FOMO and gray hair hair. Perhaps I would have lost my career.

Before crypto, I had scattered experience and it was in cryptogaming that I was able to apply everything at once. When I learned about crypto games, I realized that this is exactly what life was preparing me for:

I have been trading since 2008 at the height of the stock market bearish, worked as a manager in retail stores of various brands, had offline entrepreneurial experience and was an e-sportsman, but rather a local one, and then the prize money was ridiculous. As I remember now, the ASUS Open Winter 2008 tournament, there was a prize fund of around $10,000, and even if we took at least some prize place, it definitely wouldn’t be enough to survive even if we took part every month. It was financially difficult to play esports professionally because it didn’t bring in a lot of money like it does now. The choice was either work or esports. You can say that in my free time I earned extra money at night by playing CS 1.6 with a team for money in the 4game club. Sometimes guys from Virtus.Pro and Amazing Gaming came and beat us. But this experience helped me in the P2E game Warfield.

Apart from collectibles like Cryptokitties and Ethermon, the first direct P2E game for me was Dope Raider, which switched from Ethereum to the POA sidechain after Cryptokitties caused a collapse on Ether, but then there was no such thing as P2E yet. Posting about Dope Raider since July 2018 in my channel .

It was called blockchain games or crypto-games and was almost 5 years ago, but even then the developers understood that they needed to leave the ether if they made a completely on-chain game or needed to make a partially off-chain game, as Axie Infinity was one of the first to do and it was their approach that turned out to be more successful . I tested Axie Infinity in the first weeks, but quit the project because I thought it was time to quit because it was dying. There was even a funny screenshot from one of the team’s messages when the project came to life.


We may have missed one of the funniest games in the last 3 months. Axie Infinity. It has a very cool combat system, similar to card strategies, only more dynamic and cooler animation effects. The disadvantage of this game is the high entry threshold, approximately 1 ETH.
It was an interesting time. Then Jiho wrote to everyone personally before his finest hour and analyzed the information about who was writing about them and what. Then they planned to sell the land and enter the CIS community in order to find out why there are so few ax players from the CIS. They truly deserve respect for the journey they have taken.


Jiho from the Axie Infinity team thanks Artem for some mentions about their game in the interview.
P2E games are a way to promote the crypto industry to the masses?
P2E is a great onboarding tool. Thanks to Stepn and Axie Infinity, a lot of new people came into crypto who were not familiar with crypto and as a result, the ecosystems of these blockchains grew and the developers of these blockchains were able to report successes, which resulted in their tokens increasing in value and them receiving funding. More than 50% of crypto players have never encountered blockchain before purchasing an Ax or NFT of sneakers.

Tell me about your most successful case in P2E.
As I wrote above, one of the first successful games for making money was Warfield. Solo managed to make good money in it. About 20 ETH for 125 hours of playing this shooter. I even dedicated a "movie" to this clip. And this may be the first video on the topic of crypto games.

But earning money itself is not an end in itself in crypto games. It is much more pleasant to experience new emotions that an open economy gives and immerses the player into the world of the game even more thanks to the opportunity to own and trade their assets. This is a new level of interaction and immersion. And despite the fact that I played hundreds of crypto games, I can’t say that I earned a lot, because I was mainly involved in research, content and helping other people understand how it works. I call this the content creator's curse. Very often they talk about gems, but subscribers make money from them, not themselves. Previously, by the way, it was more difficult to find information, since there were not such a large number of channels on this topic. I had to reply to everyone in private messages, and that’s how I came up with the idea of creating a website: https://cryptogamingpool.com.

But some, so to speak, “acquaintances” were able to earn their life change money. Alien Worlds is one of these games, but mainly thanks to automated systems. Some groups of people were able to take out several million dollars worth of assets from there. This had a great influence on the decision to fight such phenomena among the community as multi-accounting, abuse and bot breeding. We are against this because it negatively affects infant economies. For bots, Alien Worlds turned out to be one of the most profitable DeFi games, which, together with Aavegotchi, gave birth to the DeFi Gaming subgenre. Later renamed GameFi.

Imagine that after 6 months and an investment of up to $2k, one game accelerates your deposit by 100-1000 times and now this money will last you for several decades, which is what happened with the Alien Worlds abusers.

Have you ever been scammed in P2E? What advice can you give to beginners so as not to fall for a scam?
There was a lot of scam in the first iteration and now, if we take it in percentage terms, but, of course, in 2021-2022 this is a record in number. BSC (Binance Smart Chain) was especially disappointing, but I somehow managed to get around it.

Probably, first I try to conduct a quality resource of funds and teams. But with experience comes an understanding, as in the saying: the quieter you drive, the further you will go. I have practically stopped advising entering at an early stage, with the exception if the project immediately has excellent chances of success, but even such mastodons as Mythical Games are having problems today. Therefore, you always need to be on alert. I focus more on reliable or unconventional projects that bring new mechanics to the industry.

Tips: Don't look at the number of funds. It’s better to study what kind of funds they are, what kind of range they have, their reputation and what happened to the projects in which they invested. The idea is far from the most important thing, although it is important for success. But no idea can be implemented without a team, and the chance of success correlates with the experience of the team. The team's experience needs to be verified. Some indicate the experience of contractors, as if they worked in these companies, but this is not the case. They only did something once that was resold by Epic Games, for example. It also often happens that Unity games with animation cost less to produce than clickers and are made worse, because assets are sold in whole packs on the Unity Store. The most famous Polygon package in this store costs about $150. There is even a whole game built on this pack - Polygonum and in this pack there are thousands of assets that some unscrupulous developers mainly from Southeast Asia, but not only, and mainly on the BSC blockchain according to my statistics, sell as NFTs, producing 100- 1000x margin. And this does not take into account financing via equities or through a token. Such projects, as a rule, have the same funds and they work according to a well-established scheme for IDO. We even created a dash list and added some to the blacklist for people to weigh in your risks.

I personally rarely consider projects for tier 3 and lower funds. Sometimes it’s better to go to WAX and there are projects there without such funds, from which you shouldn’t expect anything more than a shilling due to affiliated infls and fraudulent tokenomics. There are simply a lot of people on WAX who don’t understand how to make games, but they try and it can lead to something good. The bonus is our scoring table . Perhaps it will inspire someone to create their own.

Recommend top resources (sites) for monitoring P2E games.
I can’t help but recommend our website CGP . We collect news mainly only on top crypto games or non-standard ones, but there will not be information like “there will be an IDO of such and such a project soon, come by.” We have a slightly different niche. We cover more news about crypto gaming ventures and interesting rounds, useful cases for developers, resorchers and professional crypto players who focus only on top projects. We are planning to add more analytics, we are currently testing a section in which authors write content and we add it to our website, and much more is in the plans.

Personally, I read VentureBeat, follow CrunchBase, follow fund researchers, DappRadar, playtoearn.net, wemeta, nonfungible, mymetadata.io, Dune Analytics. And if the project passes the filter, then I simply add it to my information field and follow the project first-hand.

What are the current P2E games?
Depends on what is considered relevant. If we talk about making money, then you can earn a little money almost everywhere, but not everyone is ready to sell their time so cheaply if it does not bring pleasure. First of all, I recommend looking for something that gives you pleasure and if there is also income there, then your time will not be wasted. Recently, for example, Voxies was popular, you can still earn money there, Million on Mars on WAX. But WAX is an art house and indie in the world of crypto games. Not everyone will get in. It is always important to do something in metaverses like The Sandbox and Decentraland, because this is an investment in your future and I would look in the direction not of entertainment and getting fun, but of creating a business in the metaverses. If you are selling something online, then this is a great tool to sell it in the metaverse, since the earth is like a 3D page on social media. networks that you can profitably monetize, and if there is good traffic there, then sell in the future, and this process itself is truly interesting. Some even open Tattoo parlors in metaverses, simultaneously advertising their offline brand. If we take from games, at the testing stages or in early access, then Cross The Ages, Star Atlas, Illuvium, Metalcore, Skyweaver.

And at this point I would like to lay down an important opinion for the reader: most crypto players are not speculators, whom even developers for some reason treat with disdain. These are entrepreneurs. Therefore, this process is much more complex than just speculation. There is grinding, resource extraction, calculations of how, what and when it is best to produce and sell goods, where to find people and how to organize them to make a profit. Speculation is just one of the processes of all the goals of the layers of crypto games. And graphics are not important for many precisely because the purpose of the layers is much more interesting. Even learning the blockchain itself, despite the fact that it is a pain, is an adventure. And it makes no sense to wait for a different audience when creating a game with an open economy and financial incentives. It’s just that these incentives should be used to support contributing, rather than paying for resource grinding.

Does P2E have a future and how do you see it? What would you like to add to the games, and what can be removed?
We are still at the hypothesis testing stage. The second iteration has passed in 5 years. Many problems that were not immediately visible were highlighted, while hypotheses about the influence of the community and the remarkable metrics of P2E projects were confirmed. But at the same time, we have the collapse of FTX, which was the last straw in the trend towards creating off-chain mechanics. I believe that we will have a segmentation into games with off-chain mechanics and copying AAA titles. Back to basics. And after this third iteration, we will understand which path crypto games will take.

Or if projects with good graphics are successful, they will develop in them. This will happen if one of the majors (Ubisoft, EA, Blizzard or someone else) launches an open economy game with 10-20 million DAU with high margins and the same steep retention as at least Axie Infinity. There will be no crypto games after this. There will be just games with cool graphics and game design with an open economy, or whatever they will call it.

Or if the first ones fail, the search for innovation will be within non-standard mechanics with the mandatory use of blockchain. For example: Dark Forest, Nine Chronicles.

These 2 trends will go in parallel and in 4-5 years we will understand what can work and what cannot.

First of all, I expect more blockchain-based innovations from crypto games, so that this really brings something new to gaming. I hope to move away from the term P2E, which will be replaced by an open economy, similar to the open world, which at one time won the love of gamers. I expect evasion of payment for grinding and a focus on payment for a real contribution to the development of the project. I would like more transparency and on-chain mechanics, as well as the use of on-chain user reputation and profile meta-avatars. And most importantly, I’m looking forward to more interoperability and cross-ip games, so that you can use the purchased asset in different games, such as in Galaxy Fight Club.

What early stage games are you watching right now? (which have not yet been released)

Interview with another admin:​

What did you do in crypto and how did you get into the crypto industry?
Before crypto and Web3 gaming, I ran bot farms in traditional games and owned several large social Discord servers.

In December 2021, I accidentally saw the Thetan Arena project in the AppStore. I started digging and realized that it was a gold mine. I quickly built a bot farm to generate referrals and started working. There was a problem that to withdraw tokens from a new account you need to wait 2 weeks. There was no time to wait, so I started selling tokens at half the market price through OTS, getting referrals to customers. Customers paid me in USDT directly to their wallet.


This is what Myu Farm looked like.
At that time I didn’t understand blockchain at all and just shoveled money. When the shop was closed, I decided that it was worth going deeper into the crypt and have stayed in it ever since. By the way, I have now completely moved away from the abuses and believe that the use of multi-accounts and bot farms incredibly slows down the development of the industry.

P2E games are a way to promote the crypto industry to the masses?
Web3 gaming is definitely a direct path to mass adoption. Youth is the engine of progress. Through blockchain games, teenagers will learn complex Web3 tools and the structure of cryptocurrencies. A generation is gradually growing for which blockchain will become an integral part of life. It's only a matter of time.

Tell me about your most successful case in P2E.
It depends on what is considered a successful case. I don't see blockchain games as a direct source of profit. For me, it's more of a hobby where time, effort or high level of play is rewarded financially.

To earn money there is a job and personal skills. For almost a year now, my activities have been related to cryptogaming. I test various schemes, write articles/documentation for projects/sites/channels, and am the owner of the Web3 guild. Working within the GameFi industry is my successful case.

If the past is associated with an abuse: Thetan Arena brought ~3k$, Planet Quest ~1.5k$, SunFlower ~500$. There were a couple of other small games that brought in up to $500 in a short time, but I won’t mention which ones now.

Have you ever been scammed in P2E? What advice can you give to beginners so as not to fall for a scam?
Projects deliberately created for short-term profit are a very common occurrence in the GameFi sector. But globally this is a problem for the entire blockchain industry.

I often encounter scam projects, but I myself have not been scammed. I can advise beginners to never invest in crypto games as an investor. Treat game assets as donations with the possibility of selling them in the future, or make purchases only in your favorite games for fun.

What is a guild? Tell us about your guild and what you do.
A guild is an association of players. The type of activity of the guild can be different. Some create guilds for playing together or searching for projects, others organize full-fledged investment funds in projects.

In most cases, guilds with large funds offer members the opportunity to rent assets in expensive projects for a percentage of the profits. For example, a player takes a guild account with a rare NFT and uses it to earn money. In this case, a percentage of the player’s income goes back to the guild fund.

If you create a guild for playing together, you need to spend energy finding like-minded people and uniting them in the community. If the goal is to create a guild as a large business, you will have to invest a large amount in organization and development.

My guild MetaGoats specializes in free-to-play blockchain games. We are looking for projects for cooperative play that do not require investment from the participants. In addition, our guild helps GameFi projects in the early stages. We provide active players, offer marketing services and help with the selection of specialists in various industries.

What are the current P2E games?
When it comes to Play-to-Earn as an investment destination, there is not a single game I would recommend.

I can give you some advice: first of all, look for games that you will like in terms of gameplay. Treat investments like donations or in-game purchases with the possibility of selling them in the future. Don't invest just for profit. Successful investments in Play-to-Earn require high analytical skills, because the direction is extremely risky.

To filter and search for projects, I advise you to use ter letter Web3 games from MetaGuild. It is supported by experienced analysts and is updated regularly.

What is the difference between making money on games with investments and Free-to-Play games, other than the investments themselves?
Games with mandatory investments are usually investment games. Most often, such games are designed for those looking for passive income in a game wrapper. There are exceptions, but in general, gameplay in such games requires a maximum of several hours a day. Activity in the game is only a condition for collecting a percentage of investments.

In turn, free projects are most likely games with opportunities to earn money for active play or high skills. Of course, investments will significantly speed up progress or provide a strong advantage. But in any case, more and more projects are being born where players’ earnings are based on the internal market of assets produced in the game, regardless of investments. Purchasing options usually serve as minor donations, cosmetic items, or advanced features.

You should not classify as free crypto games those games that require investments to get even minimal profits. Good Free-to-Play projects should have at least 40% free blockchain-related content available to players.

It is worth adding that many projects, even those requiring mandatory investments, most often conduct free alpha/beta tests, where any player can take part for rewards in tokens or other valuable assets of the project, and then these tokens can be sold and withdrawn to a real cache or donate to this game and continue to earn money.

If anyone is thinking of entering crypto games as an investor, then it is worth paying attention to projects that are experiencing a furious token drawdown, but where the team continues to actively work.

In terms of the percentage of investment and income, it usually doesn’t matter when to enter. The only thing is that the cheaper the token, the longer you will have to devote time to activities in the game to earn money and the longer the payback will be.

For example, my brother bought sneakers at Stepn when the floor of sneakers dropped to $10. Now he earns about $9-15 a day consistently. The only thing is that he spends 3 hours a day walking.

In our case, when Stepn was on hype, we walked for about 20 minutes for a big profit, the payback was also faster, but entering the game then cost at least $700 per sneaker.

And there are many such examples.

Does P2E have a future and how do you see it? What would you like to add to the games, and what can be removed?
Every month we make about 20 publications about new projects without repetition. There are more and more games, and despite their quality, this cannot but affect development.

I am confident that the future of Web3 gaming lies in projects where player income will be based on the domestic market and rewards for high ratings or achievements.

Investment games will also continue to exist, but even now it is noticeable how this type of project has stopped developing along with the crypto market.

In this chapter, I gave an example of giant companies that have already begun their immersion in the world of GameFi: Ubisoft, Tencent, EpicGames. I know that you constantly monitor such companies and could you give us an example of specific projects that the mastodons are already involved in? Why are these companies in no hurry to open their faces to the audience? Well, maybe I missed some other giant companies, please fill me in.
More and more mastodons of the gaming industry are entering the world of blockchain gaming, but do not talk about it publicly. This is due to the fact that many are skeptical about cryptocurrency and everything related to it. The public's reaction can damage the company's image, reputation and products under their label.

For example, STALKER fans disliked GSC Game World because they planned to release an NFT collection. While many believe that NFT is a huge scam created for profit.

But it's not all bad, it just takes time to adapt. Now we will look at several Play-to-Earn projects, behind which are the developers of truly legendary AAA games. Not all of them consider NFTs a bad model.

Civitas The project has been under construction for a long time, they promise to launch test versions of the game in the first quarter of 2023 . We collected $20 million from foundations. The game is being developed by former employees of Ubisoft and Tencent, who had a hand in the creation of Star Wars: Force Unleashed II, EVE Online, Battlefield, Crash Bandicoot, Cyberpunk 2077 and other famous games.

Cards of Ethernity Jens Peters is behind the project. His team had a hand in the creation of God Of War, FarCry 6, Beyond the Good and Evil, Horizon Zero Dawn. CoA Twitter followers include: ImmutableX, Big Time, Ultiverse and many other influential names in the blockchain industry. ImmutableX's presence in the following suggests a future partnership, but that's just my guess.

Wildcard Alliance Wildcard has raised $46 million from funds including Paradigm and Griffin Gaming Partners. Wildcard co-founder Paul Buttner is an entrepreneur, producer, and founder and CEO of Playful Studios. There is information that the game has been developed for more than five years by experienced specialists who had a hand in the creation of Age of Empires, Lucky's Tale and the incredibly popular game World of Warcraft. The project team honestly distributes whitelists, and anyone can get one by paying due attention to the project.


From this article you learned the world of GameFi. Now you know what Play-to-Earn and Free-to-Play games are. And now you know that the industry is still in its infancy and has great prospects in the future, because funds are investing, and top gaming companies are taking on the development. You've got a whole list of projects that you need to follow and interact with, so get started! But be careful before you deposit your money anywhere; no one is asking you to make any rash decisions. Fortunately, you received views and thoughts, now you can analyze these thoughts and draw your own conclusions, which was the purpose of this article.