Play-to-Earn games on ETH: What's the catch?

[Abiky]

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts?

[gwdf1]

Personally I don't think that blockchain-games will fail. There are a lot of gamers who has playing computer games as a hobby so with the development of their logic and graphic, I think that there will be more and more gamers who want to play. As for money, usually, gamers earn money from other gamers when selling different things in games.

[makishart]

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity.

It's all about money. Those will never be interested to play the blockchain game if it's not about money. The hype that came to the blockchain gaming caused by the game being combined with play to earn and that let people to earn from playing the game. it's not only passively playing the game to earn nothing. that's only making us feel tired.

I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Lol that's wrong. Those play to earn game developers are also thinking about the cheapes and fastest blockchains to run their dapps. I have been actively playing axie and i got around $500 every month from playing this game but this totally depend with the price of SLP. it's too early to judge P2E will dead like icos. ICOs are not dead yet but it was getting evolved to the various kinds like IDO, IEO and many more.
So many people have been skeptical with shiba inu but that can enter into the top 10 CMC and surpassing so many bad old coins in the market.

[tbct_mt2]

Play to Earn games on Ethereum network can fail because the network requires too expensive transaction fee. Nowadays, projects can deployed and bridged to other blockchains in order to give users cheaper transaction fees.

Play to Earn, the name says it. Gamers can not spend $10 for a click when they play and even don't know they will win or lose after the click. Transaction fee on ETH network is painful for gamers.

I don't think Play to Earn will fail all. Some of them will keep existing on the market and growing more. Like Axie Infinity but they deploy their Ronin to resolve the expensive transaction fee issue.

[cryptoknows]

Play to learn gaming on ETH is a pretty monopolistic application. Those who did not manage to fulfill the minimum conditions at a reasonable gas price more than a year ago, now there is absolutely no point in doing this right now. This is my personal opinion regarding web 3.0 games on the Ethereum blockchain. To do this, it is better to use a more user friendly blockchain. For example, Near Protocol develops a large number of gaming directions and taking into account its blockchain with low commissions, all in-game actions cost 0.01$ That allows you to develop your account very cheaply

[Koro-Sensei]

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts?

Lol its not free money as it needs knowledge to win, time to learn and specially more time to spend in playing and investing at your characters and such. Its an ecosystem supported by its players and community investors where the money they got are due to their initial investments but with greater returns. Its like DeFi where you provide liquidity then you got compensated. In P2E, you provide time and money for your characters then you got compensated when you play. Its price are driven by market + in game features.

[batang_bitcoin]

As I understand with the P2E NFTs, they're earning through commission of their own marketplaces. That makes them profitable if they have tons of players that are active from time to time.
That's why updates for these games will be never ending for them to retain their players and the commission that they'll get from their own marketplaces shall continue giving them their share since it remains active.

[mu_enrico]

P2E is just a hype word promoted by those NFT & gaming companies. It lures youngsters who think "I can get rich from playing games." Just like gambling, you can win, but you can also lose money. It should be called risk games, money games, or soft gambling instead of play-to-earn

However, even though the term P2E is a bit misleading, some games are rock solid playable games and you can actually make money (a bit contradictory with my previous statement tho). You know, you can call slots is a play-to-earn game as well, so this kind of games need 18+ and responsible gaming as well. It's not going to die like ICOs, but perhaps more regulated. Definitely not gonna successful with ETH, as it needs more capable network.

[Mpamaegbu]

Anything that advertises easy cash and quick riches will always catch the eye of youngsters. How else do youngsters get clued to cryptocurrencies if not the hype in the quick ROI they promise. P2E is the rave of the moment and highlighting NTFs and Metaverse. It's a good one anyway, even when we take into consideration that one plays the game in relaxation to ease off stress and at the same time earn. However, I for one don't like any transaction that has to do with Ethereum because of the exorbitant fees in transactions. I won't be involved in any of such as it stands, to be honest.

[ryzaadit]

Most companies will support cross-chain tokens, they use "Polygon" for the game but for any kind of trading activity they will use "ETH" since have more liquidity than a polygon network. The only problem of P2E ecosystem, the generating token they're make from the game and while the marketcap not growing follow the token minted there will be have so much sell pressure than buying presure.

[beerlover]

Anything that advertises easy cash and quick riches will always catch the eye of youngsters. How else do youngsters get clued to cryptocurrencies if not the hype in the quick ROI they promise. P2E is the rave of the moment and highlighting NTFs and Metaverse. It's a good one anyway, even when we take into consideration that one plays the game in relaxation to ease off stress and at the same time earn. However, I for one don't like any transaction that has to do with Ethereum because of the exorbitant fees in transactions. I won't be involved in any of such as it stands, to be honest.

I would say that there are a lot of play to earn games on ETH which looks like "easy cash, get rich quick" but the reality is that there are actually some of them manage to pull that off as well, which makes people look for others too. I mean look at Axie, I remember at one point you spent like 1k on 3 axies, decent ones as well, and then you earned like 600 bucks a month from that.

Obviously as it turns out if you spent 1k on it, maybe you would have made that for a month or two (which would mean you could break even at least) but the price of the Axies went down, the profit you could make also went down as well and now it is a lot less. So the catch is not that it is not working as intended, the catch is that it can't sustain like that forever, you need people to keep on breeding axies in order to spend SLP whereas if they do then the price of Axies goes down since there are more of them... it just doesn't work.

[SamGold__]

I think P2E will be one of the biggest trends on blockchain if not the biggest.
It will not fall in a bear market proof is that axie was going up in the worst conditions.
I see P2E only growing but not on ETH I'm more interested in Solana and P2E... we'll see how this plays out

[blockman]

I think P2E will be one of the biggest trends on blockchain if not the biggest.
It will not fall in a bear market proof is that axie was going up in the worst conditions.
I see P2E only growing but not on ETH I'm more interested in Solana and P2E... we'll see how this plays out

You'll never know when the market goes on a bear. I'm into p2e NFTs but I'm aware of any possibilities that can happen to it and mostly the negative ones.
It's a craze that's setting its foundation and what if the actual known gaming companies are going to step in and will introduce their games having p2e feature? It would no longer be a hype I guess.

[adzino]

Never tried anyone of those, but I guess those "free money" is what is attracting the users towards it. How much do they actually earn? I am guessing just peanuts. I hope they realize  that they are wasting their time and can do something more productive and earn better. And I heard that you can only earn when you invest. I mean those who invests more, they earn even more. So risks are actually high. I have heard about a game (forgot the name) where users were able to buy lands in a virtual world and sell it for profit. Kind of makes no sense to me at all.

[dothebeats]

Most of the P2E games that are out in the market has some form of in-game transactions, just like your normal online game. They get their revenues from these in-game transactions, and that's basically it. Personally, I don't mind P2E games as long as they're enjoyable and not really scummy (like some random ass spyware being installed in your pc or something). I am playing such games myself, and so far I'm enjoying the grind and not really caring about the 'earning' aspect just yet until I hit the rankings.

[eaLiTy]

Play to Earn games on Ethereum network can fail because the network requires too expensive transaction fee. Nowadays, projects can deployed and bridged to other blockchains in order to give users cheaper transaction fees.

Play to Earn, the name says it. Gamers can not spend $10 for a click when they play and even don't know they will win or lose after the click. Transaction fee on ETH network is painful for gamers.

Anything on the ETH network will fail miserably. There are NFT and P2E projects that are using the ETH network and for a while the users will be happy to spend high gas fees but there will be a end point when they end up loosing more money than they earn with those concepts, for example, some of the NFT that are available in the market, the gas fees is 10 times higher than the NFT itself and how a project will survive if they are not planning to move alternative coins.

Good P2E games will survive and it all depends upon which network the developers are choosing to built their game.

[timerland]

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts?

I think that it is definitely overhyped.

There is very little utility that you can bring out of a decentralized P2E game like Axie Infinity in my opinion, but with the current NFT hype it does make sense for people to play it.

Once this reward mechanism ceases to exist, I think that the projects in this space will die down. Just like a lot of the ICO projects back in 2017.

[harizen]

Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return.

I think calling some of those people "greedy" is inappropriate. First, there are really people who are really into gaming regardless of P2E or not. The bonus is, while they enjoy gaming, it has rewards in return. Although some of them just joined the craze because it's play-to-earn, I can say that while in progress, they will actually love the game, not because of its P2E feature.

I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now.

Most of the hype games are not using the ETH network. Some games are using their own blockchain or mostly, BSC networks.

But if we say, those games are within the ETH network, then users have no choice but to deal with ETH insane fees.

[letyouearn]

Definitely PlayToYearn games will fall when this hype is over. But now, when we see this euphoria everywhere and people are ready to invest anywhere without thinking - this scheme works perfectly. Don't think - just buy and invest more  

[haenko.near]

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts?

I know that Near Protocol invested $100M to develop #playtoearn games, and that in NEAR Network transactions cost <0.01$, and the speed is 2 seconds.  I wonder what will eventually come of this.  EVM Aurora was also launched on NEAR, and games that are launched on ETH, in theory, can be transferred to the NEAR network