In the last two years, the merging of gaming and finance has led to a transition in gameplay from the Pay-to-Win to Play-to-Earn concept. Traditional approaches of paying for in-game premium currencies and content are replaced by the practice of empowering players to create and monetize in-game content. Examples of successful and rapidly scaling Play-to-Earn games include The Sandbox, Decentraland, Axie Infinite, and dozens of others suited to any taste, genre, or premise liking.
The Play-to-Earn model provides several profitable avenues for players of any level.The most common approach in the given paradigm involves the creation of in-game content: digital clothing, real estate, weapons, spells, powerups, or unique cards - any kind of asset can be created and minted in the form of Non-Fungible Tokens. These NFTs can then be sold on special marketplaces and priced based on their degree of usefulness and rarity.
Another method involves renting NFTs to other players who have entered GameFi projects early on or acquired rare NFTs that accrue value. This can easily turn into a lucrative form of passive income.
The third way is more straightforward and is embedded in the core mechanism of virtually every GameFi sector game and platform. Alongside NFTs, such games offer players the chance to win in-game cryptocurrencies as rewards for achievements and certain activities that they perform as part of challenges or routine gameplay. The earned cryptocurrencies can be easily withdrawn and cashed out to fiat using exchanges.
The metaverse environment is becoming the main hub of Play-to-Earn projects and the center of GameFi activity. Considering the extensive availability of mobile GameFi projects and the rapid development of the alternative financial economy based on cryptocurrencies and other classes of digital assets, many younger market participants are taking advantage of the opportunity. The digital freedom and financial independence achieved via Play-to-Earn gaming models allows players to break out of the formal economy and play for monetary rewards.
As Play-to-Earn games and the entire GameFi sector is being developed on the basis of blockchain platforms, the need for a convenient gateway for cashing out is vital. Registering a crypto wallet is always the first step, followed by tethering it to a bank account. However, not all banks support cryptocurrency transactions, making the need for a reliable crypto bank service key.
Supporting an open financial system is precisely why the Embily payment network offers its crypto-friendly VISA bank card. The card combines the best of crypto and traditional finance: it can be linked to virtually any digital wallet with instant transfers to Euros for subsequent withdrawal at ATMs at zero commissions. With its around-the-clock support and extensive functionality via a convenient mobile banking application, the Embily crypto bank card is the go-to solution for a new breed of players.