Cryptocurrencies are all around us, making significant changes in the financial systems. Lately, they’ve been integrated with many popular concepts and activities, especially in the gaming industry. We often see some new play and earn crypto MOBA games that have an exceptional chance to grow, even though it’s a relatively new approach to creating games.
In order to understand the whole concept, we first need to explain what does moba stand for in games. Some people get confused because the abbreviation reminds them of mobile, but MOBA stands for a multiplayer online battle arena. There are many innovative pieces on the market, and a lot of creative game developers are trying to integrate gaming with cryptocurrencies and web3, and that’s absolutely possible, as you can see on http://battleforgiostone.com/.
The Difference Between ‘Play and Earn’ and ‘Play to Earn’
‘Play to earn’ is also known as P2E. It generally focuses on rewarding the players with cryptocurrencies and tokens based on their progress.
Many think these are completely the same things, but it’s pretty obvious they are not. The phrase ‘play and earn’ says that you will earn money while you play, and there is no other option. The ‘play to earn’ concept means you have a great chance to earn money, but not necessarily.
In the first case, money (or cryptocurrencies) is guaranteed, but in the other one, you will try, but no one can be sure if you will succeed.
Some experts came up with a more precise explanation, which says that ‘play and earn’ is all about entertainment with the benefit of earning money. At the same time, ‘play to earn’ is practically a job, and you have to complete stages or get into battles, so you can be rewarded and able to cash out your earned money.
What are Tokens in Gaming?
In the past, tokens were the same as chips, made of plastic or clay, usually available in casinos. They have some value printed on them, and many gamblers still use them while playing casino games.
But in MOBA gaming, tokens are usually digital, representing some item or value related to the game. That’s how modern crypto gaming implemented NFTs, which are non-fungible tokens.
That means they can’t be copied or duplicated and hold a value that may go up or down, depending on the market situation. Many gamers decide to turn their belongings (weapons, avatars, or items) into non-fungible tokens and mint them through the Ethereum Blockchain.
Also, every game may have a unique Blockchain-like concept, including unique tokens and currencies that can be exchanged using the game’s platform. It’s pretty complicated and challenging, but once you try some crypto play and earn games, you can easily understand what you need to do.
The Basics of Decentralized Gaming
Decentralized gaming is a general category of all the games that use blockchain technology. Most of these games are completely focused on blockchain and cryptocurrencies, but some of them still use a hybrid model before moving to decentralized gaming.
Gaming companies prefer it because they can improve the transparency and proof of ownership regarding claimed rewards or bought NFTs. This approach uncovers the full potential of the blockchain and gaming overlap. Many gamers who are interested in tokens and cryptocurrencies can become a part of that community and explore all the options they have to trade, play, and earn money.
Knowing all these things, we can finally realize why are moba games so popular and how they are becoming an essential part of the gaming community.
Are there any Crypto Gaming Risks?
MOBA comes with some risks for sure, knowing that the crypto market is still pretty volatile. Also, game popularity may affect the value of the token or coin, sometimes making the earnings worthless when it comes to converting.
Every gamer must be aware of it because it doesn’t depend on their performance or achievements. People can’t really affect the values, even though dramatic changes may occur overnight.
Volatility is probably the biggest risk, but we are sure most gamers are aware of it. Also, some areas’ lack of crypto regulation can be an issue, especially when the gamer wants to convert the earned money. And finally, we can’t ignore the risks of getting hacked. Every year, significant amounts of cryptocurrencies get lost and can’t be tracked down. But again, we know that crypto enthusiasts are already aware of it before they start playing P2E games.
No matter the risks, P2E games are exciting and attractive to gamers. We can say that the volatility and risks make them even more thrilling. Every gamer must be aware of those potential risks but also of the benefits.
The integration between these industries is getting better every day. Hopefully, there will be advanced solutions for the gamers to protect their earned assets until they decide to exchange them for fiat currencies. The future is already here, and it holds many exciting things for us, especially when it comes to gaming.