New Sustainable Play-to-Earn Strategy Era For Web3 Gaming

Web3 Gaming platforms are quickly evolving more sustainable business models utilizing FTs alongside NFTs.

The year 2021 will forever be known as an explosive one for NFTs and other crypto assets, with massive increases in its price appreciation at that time. However, blockchain gaming also saw a dramatic rise during this same time, expanding rapidly to take up over 50% of the blockchain industry’s total activity.

Adapting To Mistakes

Most of these new Web3 games make use of Play to Earn (P2E) mechanics, where players get rewarded for the time and effort they sink into the respective games. With a core gameplay loop combined with an economic incentive, the common practice for most P2E games is rewarding the players with various in-game items. These items typically take the form of NFTs or the native tokens of the platform itself.

However, a few problems sprung up with this kind of business model. The biggest problem being its utter lack of sustainability when the markets turn bearish. With this new problem, Web3 game developers have started to shift their games’ economic models, making use of both the regular NFTs as well as fungible tokens (FTs). With this model, a higher level of liquidity can be achieved, seeing as it can now benefit from fungible economics.

The Gen 0 Of Web3 Games

Web3 games making exclusive use of NFTs have now become known as “Gen 0” games. This happened due to the common trend among most of them in that their economies within the game itself is typically underdeveloped. This results in a number of problems, such as asset valuation and token liquidity suffering for it, as well as typically low trade frequencies. All of these factors culminate in the games hobbling their own economies, which subtracts even more from the game’s native token’s capitalization. Should you add a bear market to this mess, the problems only become even worse, and these games see a surprisingly quick death.

Another problem with these Gen 0 Web3 games is the fact that some are essentially just Web2 games that are tokenized. The core game operates separate from the blockchain, with crypto assets tacked on as an afterthought to latch on to users of Web3. With all this considered, it’s no surprise that most Gen 0 games last months at best. Many users are simply left high and dry with a fist full of NFTs with no value outside the game.

New Adaptations

Luckily, the Web3 gaming sphere has already started to evolve, making use of FTs alongside NFTs. A good example would be the Star Atlas platform. Star Atlas allows its players the chance to travel with their own spacecraft, one that is fully customizable.

The business model makes use of limited-life FTs, allowing for the purchase of these tokens via the platform’s native tokens. These projects are capable of maintaining a stable metric in both supply and demand while also boasting typically higher trade volumes.

Another key player stands as CropBytes. The gaming platform has recently announced the imminent launch of its Service Economy feature. This will allow gamers to earn their income by utilizing trader and investor assets. It will allow the users to pay other users for services such as feeding animals and growing crops, paying their with the native CBX token.