What is the concept of Play-to-earn Scholarships in Games, and what do they have to do with NFTs?

    What is Play-to-earn?

    Remember those days when people would tell you to do what you love? Well, tell them that today you can earn money while doing only what you love -playing.

    Play-to-earn is exactly what it means; the players clear levels of certain video games and make real money in return. These games are cryptocurrencies based and are centered on NFTs ( Non-fungible assets).

    Where did such a thing come from? How are NFTs integrated inside the game?

    While not everyone can earn real cash by playing games, those who have a skill level and have done their research certainly can.

    When Axie Infinity, an NFT based video game, introduced play-to-earn scholarships, people went crazy. How everything goes about:

    • NFTs in a video games like Axie Infinity, simply means characters. Each character is unique and is under the ownership of only one person, who buys it. So when someone buys an NFT in the video game, they have actually bought a character.
    • Not everyone can afford to invest in NFTs. Similarly, not everyone have the skills to clear the higher levels of a game. So, the investors look for good players and “rent” their NFTs (characters) to them, these players then clear the levels and participate in championships and battles inside the gaming platform.
    • This transfer of NFTs is called “scholarship” and the recpient is called scholar.
    • The player makes money by playing these video games, and a small portion of his money goes to the providers.

    Who keeps the track?

    Since anyone from any part of the world can buy an NFT or play a video game, it would be impossible to approach the correct person in due time. Here comes the role of guilds or communities.

    The Yield Guide Games(YGG) is a play-to-earn gaming guild that provides a platform for players to apply for “scholarships.” The community managers do the job of recruiting and guiding players on how to play the game. So basically, we now have a platform (YGG), managers, NFT owners, and players.

    The platform’s business model divides the revenue earned by the player and distributes it between the contributors.

    The amount that a scholar earns from playing games is split as:
    50-70% to the Scholars,
    20% to the community managers, and
    10-30% to the platform (company)

    Video Games that are currently based upon NFTs.

    While major gaming companies are yet to take a step in the Non-fungible tokens marketplace, there are some popular games that have been in hype for a long time now. Given below is a list of the most loved NFT integrated play-to-earn games.

    • Axie Infinity
    • Gids Unchained
    • Spinterlands (Crypto based)
    • Illuvium
    • The Sandbox.

    Ways to enter in this gaming world-

    If you have a lot of money, investing in NFTs is the best way.
    But, if you either love playing video games or are short of cash, try to become a scholar. The third way is to invest in the platform itself!

    With Epic Games and Xbox still skeptical about NFT’s future and credibility, our all-time favorite video games still have a long way to go before introducing NFT characters, skins, or features. But as things are now, the wait may not be that long.

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