Gambling to win could be a solution to the economic problems associated with the pandemic. The Covid-19 has radically changed the culture of work around the world. Some fell ill and were unable to work. Or, they had fewer hours of productivity. Others found themselves unemployed.
The pandemic is also changing the workplace in different ways. Automated jobs mean fewer people are needed. Office buildings are no longer needed due to a hybrid remote working structure. Companies are adapting and introducing new ways of working, whether through virtual offices, telecommuting or flexible hours.
According to a United Nations report, global unemployment has reached over 200 million people. Now more than ever, people are looking to take advantage of alternative methods of making money.
Play to win (P2E)
The blockchain industry is growing exponentially as many people are joining in droves. They hope to earn passive income from crypto-related activities like Play-to-Earn.
P2E gaming model is a method for earning cryptocurrency while playing video games. It works by rewarding players with cryptocurrency for their success in the game. The more successful they are, the higher the potential for winning. Players are encouraged to complete missions and maximize gameplay.
P2E is still relatively new to the crypto world. But has seen great success in traditional gaming and sports models.
Axie Infinity is an example of the game model for winning. Axies are creatures that can be bred, traded, and fought for new collectible Axies or NFTs. The game was very successful. Infinity Studio, the team behind Axie, received $ 150 million in funding from A16z and Mark Cuban. The company is currently valued at over $ 3 billion.
The best way to encourage cryptocurrency adoption is to use rewards and incentives programs. The problem, however, is how to effectively drive crypto adoption in a world where high volatility and shortened consumption trends can lead to dramatic changes overnight.
Play-to-Win models allow users to earn digital assets by playing games or completing tasks. They can then spend those assets or convert them to other cryptocurrencies. This is a new way for users to win without constantly monitoring the value of their tokens.
Tokenomics (or token economy) defines the study of digital currencies, token economics, and cryptocurrency. Tokenomics fundamentally changes the way businesses operate, the way consumers make their purchasing decisions and the way systems work.
They become valuable because public blockchains are accessible to the public, including criminals and bad actors. Unfortunately, this means that people are not assured of acting in good faith, in a way that is beneficial to the network.
For long-term growth, properly incentivized tokenomics are necessary because they guide the behavior of each actor and align the protocol. This ultimately creates trust within the blockchain and generates a continuous increase in value.
A lack of sustainable tokenomics prevents Play-to-Earn projects from developing in the long term.
How NFT 3.0 Combines Liquidity Extraction, Staking, and APY for a New Era in NFTs
The NFT market is growing exponentially. NFT trading volumes soared to $ 10.7 billion in the third quarter of 2021, according to data from Market Tracker DappRadar. This is a dramatic increase from the previous quarter. This shows a resurgence of interest in crypto assets.
NFT 3.0 aims to combine cash extraction, staking and APY returns to strengthen sustainable tokenomics within different decentralized projects.
It provides stable income for early adopters. They are rewarded with the highest returns (APY). It is through cash extraction activities, providing cash earlier than others.
Token staking is a way to get players to keep their tokens to keep the platform safe.
The coins also achieve a return that protects both the platform and its users against any form of dilution caused by inflation.
Play to win in the future
Play-to-Earn is a post-COVID success story. It presents opportunities for future exploitation.
Many people fear that the only way their cryptocurrency investments will continue to grow is with time and effort. Without adding anything more than what’s already there, all of their hard work will have gone for nothing.
However, this does not have to be the case. P2E games encourage more opportunities for those looking to cash in on their terms – from NFT incentives to token engagement, the platform exists for financial independence.
The play-2-earn model allows users to get a return on their investments, time and effort. The best part is that they are doing something they love.
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