Play to earn is a new term that has been created to describe the new evolution of gaming thats occurring in the crypto space right now.
Traditional video games follow a pay to play model where you purchase the video game and then you play it solely for fun and enjoyment. In this model, the Game company owns the game and all of its assets, the player just gets to use them, even though they “bought” the game.
With Play to Earn games, the player is rewarded for playing the game with cryptocurrency…think of it like getting paid for your attention. Your attention is valuable and why shouldn’t you get paid to play the game. Player’s rewards come out of the game economy and the money the game makes, essentially like a rev share.
Additionally Play to Earn games also allow the player to OWN their own game characters and in-game items, meaning that while the game company owns the game, the player is the one who owns their character and any items or stuff they find/use in the game. And since the player owns it, that means they can play it, trade it, rent it or sell it.
Play To Earn gaming is all about making the game a win win for both the game company and the player…because without the player…the game will die.