In pursuit of a better trading experience, Coinstore has launched the P2E section at 11:00 am (UTC+8) on July 22nd, 2021. You can now Play to Earn on Coinstore. Come try it out!
What’s the Play-to-Earn？
The Play-to-Earn business model is the latest development in the games industry. It’s a business model that embraces the concept of an open economy and provides financial benefits to all players who add value by contributing to the game world. It’s likely to introduce new game concepts and retention models not yet seen in modern gaming.
Giving gamers ownership over in-game assets and allowing them to increase their value by actively playing the game are key components of the play-to-earn business model. By participating in the in-game economy, players are creating value for other players and the developers. In turn they are rewarded with in-game assets. These digital assets can be anything ranging from cryptocurrencies to in-game resources that are tokenized on the blockchain. That’s why the play-to-earn business model goes very well together with blockchain games.
In the play-to-earn business model the game and the developers reward players for putting time and effort into their game. For example, in Axie Infinity players earn Small Love Potions (SLP). Players need these tokens to breed new Axies, but they can also sell the tokens to other players on the open marketplace. Other examples are the resources in League of Kingdoms, or the prizes players can earn in the fantasy football game Sorare.
Risk warning: Cryptocurrency trading is subject to high market risks. Please proceed with caution. Coinstore will do its best to select high-quality coins, but will not take any responsibility for your transaction losses.
July 22nd, 2021
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