NFT Gaming Platform Development 2024: Rule The Next Gaming Era

The next generation technology- “blockchain,” has brought a new concept of NFT and Metaverse NFT gaming platforms. Enterprises in the virtual gaming world are flourishing their business by investing in nft gaming platform. NFT has now elaborated itself into play to earn models where players can earn while playing games. Such a concept sounds interesting to game lovers, and businesses can expect a huge ROI from these platforms.

While NFT gaming platforms are not entirely new, they have been shaped by advancements in blockchain technology, its operational mechanics, and monetization strategies.

How to Build a P2E NFT Gaming Platform?

Are you excited to develop your own NFT gaming platform? Before diving in, it’s essential to understand key considerations for creating a successful P2E platform. Here are critical factors to focus on during Play-to-Earn platform development:

Scalable Business Model

The first thing you should verify is the sustainability and scalability of the Play To Earn NFT Platform. The model must have real users rather than bots seeking to reap the in-game rewards. The nft gaming platform system needs to keep up with the various revenue streams to attract gamers for a long period of time. Developers ensure that the gaming model is maintained properly to keep the users engaged.

Detailed Tokenomics Model

The excellent P2E tokenomics model covers well-defined monetization mechanisms, including NFTs, cryptos, and other internal tokens. The game developers build a governance token that gives power to players to vote on any game-related decisions.

Blockchain experts take it as a challenge to build a comprehensive tokenomics model as it requires to be robust and effective. A vigorous tokenomics model helps in creating a stable economy by establishing new revenue streams.

Suitable Blockchain Platform

As play-to-earn crypto games are based on blockchain technology; therefore, it becomes necessary to choose the platform which suits the most. With numerous blockchain platforms available on the market today, it might become difficult to recognize the right set of features appropriate for your P2E gaming model. However, you can consider factors like sustainability, transaction fees, transaction speed, consensus mechanism, and support for NFTs while selecting the blockchain platform.

Multi-Layer User Structure

A multi-layer user structure is defined as the structure which offers different roles to everyone involved in the game, like developers, gamers, and investors. The gaming model must motivate all to remain loyal to the game and promote it further. Let’s take an example of a P2E gaming model where gamers can embrace play-for-fun or play-to-earn, and investors could choose to be game governors, managers, supporters, or speculators.

Appealing Design

The visual design of a game is a key factor in attracting users. An impeccable design for P2E crypto games can significantly expand your platform’s reach, drawing in players and investors alike. For those interested in creating a trading hub for in-game assets, exploring NFT marketplace development can enhance the platform’s ecosystem.

These factors collectively contribute to a well-structured game logic. Success in this space requires an effective business model and a carefully crafted tokenomics design. Partnering with reputable service providers can help you build a highly responsive P2E gaming platform.

Also Read: How To Develop An IGO NFT Gaming Launchpad?

How Do Players Make Money With Play-to-Earn Games?

Play-to-earn is a unique model to play games and earn money simultaneously. Players earn money through various modes in P2E games; they receive rewards and special prizes for their wins. These rewards can be NFTs which can be traded further on the trading platforms. These tokens can be sold in exchange for fiat currency. The value of the rewards depends upon the gaming experience, time spent in playing, popularity, ratings, and the demand of your cryptos.

Here is a List of 10 Ways to Earn Money:

In-Game Currency

The NFT-based games have an in-game currency that can be exchanged for cryptocurrencies or converted into fiat currency. The P2E game Axie Infinity uses Smooth Love Potion(SLP), which acts as the in-game currency and is used for breeding. When winning the game, you get SLPs as a reward, which can be cashed out or swapped.

Breeding

Breeding is not just for creating new breeds of digital pets, but they are also a great source of money-making. For example, in cryptokitties- the breeding and collecting game, gamers can mate two different kitties (species) to create a new kitty (species). The traits of the newly created kitties depend upon the mating parents; hence, they can be sold on the NFT marketplace for a hefty sum.

Minting

This is also a profitable way of earning. Players can create various objects, wearables, weapons, or other collectibles to sell them on respective marketplaces. Creators also earn royalties (anywhere between 1% - 15%) on secondary sales.

Rewards

Rewards can be earned in NFT-based P2E games through staking. When players stake their tokens for a specific period of time, these get locked, and users can’t use them. Once the locking period gets over, users earn rewards.

Trading

Trading is simple to understand. It just means buying and selling NFTs. Every play-to-earn game has its own marketplace where players can sell their in-game assets in exchange for fiat currency. However, users need to pay the trading fees to move forward with trading.

Benefits of P2E NFTGames

P2E games offer numerous advantages for both entrepreneurs and players. Here are some key benefits:

Earn Money

This is the most prominent advantage of play-to-earn games. Players get a chance to interact and play in a virtual world. In addition, they also get the opportunity to generate revenue from their achievements in the game. Gamers actively participate in virtual games and trade their winning crypto assets or NFTs on the platform.

Promote the Global Gaming Community

P2E games allow players to participate from every nook and corner of the world. These games have the capability to involve multiple numbers of players to play simultaneously. Thus, this gaming platform encourages gamers to play together for a common goal. To cite an example: Axie Infinity is one such P2E game that experienced traffic of around 8.3 million active players at one time on December 1st, 2021.

Highly Secured

It is a well-known fact that play-to-earn games are developed on blockchain technology; thus, it ensures the security of all the stored data. The decentralized network makes it enormously hard to crack the security level. The data encryption mechanism behind the technology also adds an extra layer of protection to the data.

Smart Contracts

The blockchain-powered P2E games are built using smart contracts, which ensure that all the transactions within the gaming ecosystem are securely made. These smart contracts also make the whole process simple for the ease of players and investors.

With all the above-mentioned benefits of play-to-earn games, gamers and businesses can enjoy the services offered by the secured blockchain-powered gaming ecosystem.

Some of the Eminent NFT Gaming Platforms

Axie Infinity

One of the first NFT gaming platforms is called Axie Infinity. This game received a huge response from users. Axie infinity involves owning at least 3 axies. The axies can be exchanged, bred, or sold on the gaming platform for more profits.

In this fantasy world, users can easily engage with the platform. Players get a chance to win NFT; until now, NFTs worth $3.6 billion has been sold internally by Axie Infinity with a price of one axie around $820,000. There is an "NFT Marketplace" where users trade their NFTs without moving to a third-party NFT marketplace.

Decentraland

Decentraland is another well-known brand in NFT gaming. Players can explore this open-world game and learn about what's happening in this gaming community. Players can create their own scenes and artwork in the game. Moreover, they can predict new difficulties in the future.

Do you know? It was the first platform to accept SDK builds from contributors. There are so many good things about virtual real estate. The virtual property is traded daily for an average of $ 330 million on the platform. While playing games on the decentraland platform, people earn fiat currency. This renowned platform is $ 600 million worth on the open market. Building a virtual platform with Decentraland clone could prove to be profitable.

CryptoKitties

Crypto kitties are the most loved form of NFT game where players can own, trade, or breed virtual kitties. It is referred to as the digital version of the highly popular Pokemon cards. Each cat in the game is one-of-a-kind, i.e., it can’t be replaced. Players collect digital cats, trade them in the community, collect them for better rewards, and breed them for rare traits.

Cryptokitties play an essential role in giving a unique identity to NFTs and NFT game platforms. Being one of the earliest game platforms, cryptoKitties and NFTs are almost of the same age. Do you know? The crypto kitty- Dragon sold for 600 ETH.

SandBox

It is the Open Metaverse platform where ALPHA games are played. In this crypto-era, 15,000 NFTs have been distributed, a significant amount for an NFT gaming environment. For this, it has been named one of the greatest records. More than 200k people visited the ALPHA hub in the market simultaneously and have played in the space for about 150k hours. In addition to this, this platform is popular because many individuals use it and participate in social media competitions.

Aliens World

One of the finest methods to earn money while playing games is through the Alien world- an NFT gaming platform with a cloud-based wallet. What distinguishes the structure is acquiring TLM (Trillium), obtained by playing the game for a considerable time.

This is one of the best games that users love to play. The mechanism behind the game is the most-sought after idea which attracts players. In this game, the players travel to multiple planets and complete the missions on that planets.

The trend of P2E games is slowly climbing the ladder of success. NFT gaming platforms will be the future of how we play games now. If you want to boost your business by developing a gaming platform like Axie Infinity, Aliens World, Crypto kitties, etc., then contact a well-versed NFT game development company.

Conclusion

Play-to-Earn games are poised for long-term success, offering compelling benefits for investors and players alike. These platforms enable players to participate in virtual economies, earn rewards, and enjoy immersive gaming experiences. To achieve success, partnering with a professional development team is crucial.

Suffescom Solutions Inc. is a dedicated team of developers with deep expertise in P2E models. Bring your project ideas to us, and we’ll guide you from planning to deployment. Our blockchain experts will craft a tailored P2E game to meet your requirements.

Ready to estimate your P2E game development cost? Contact us today, and we’ll create a customized cost structure based on your needs. Prepare to dominate the NFT gaming world!

FAQs

1. What is a Play-to-Earn (P2E) NFT gaming platform?

A P2E NFT gaming platform is a blockchain-based game where players can earn rewards, such as NFTs or cryptocurrencies, while playing. These rewards can be traded or sold for profit, combining entertainment with financial incentives.

2. How do I start playing a P2E NFT game?

To start, choose a P2E game (e.g., Axie Infinity or Decentraland), set up a crypto wallet (like MetaMask), purchase any required in-game assets (e.g., Axies), and connect your wallet to the game’s platform. Follow the game’s tutorial to begin playing and earning.

3. What is the role of NFTs in P2E games?

NFTs represent unique in-game assets, such as characters, items, or land, that players can own, trade, or sell. Their blockchain-backed authenticity ensures ownership and value, enabling players to monetize their gameplay.

4. Do I need to invest money to play P2E games?

Most P2E games require an initial investment, such as purchasing NFTs or tokens to access gameplay. However, some platforms offer free-to-play modes or scholarships (e.g., Axie Infinity’s scholarship program) where players can borrow assets to start.

5. How much can I earn from P2E games?

Earnings vary based on the game, time invested, skill level, and market demand for in-game assets. Some players earn small amounts, while others generate significant profits by trading rare NFTs or staking tokens.

6. Are P2E games secure?

P2E games built on blockchain technology are generally secure due to decentralized networks and smart contracts. However, players should use reputable platforms, secure their wallets, and avoid sharing private keys to prevent scams or hacks.

7. What blockchain platforms are best for P2E games?

Popular blockchain platforms for P2E games include Ethereum, Binance Smart Chain, Solana, and Polygon. Each offers unique features like low transaction fees, fast processing, or robust NFT support, so choose based on your game’s needs.

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