Scam alert: I will never contact you. Don't look up the tokens mentioned in the comments (they are scams). Be very skeptical in the comment section. Be safe
I cannot over emphasize the importance of being an experienced trader to make good returns off the crypto space, else you'd join the group that call it a gamble. Those that understand the market trends always seem to be a step ahead and apply adequate measures to stay secure no matter the situation.
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@jamesdrew296 You are right! I diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above 1.3m in net profit across high dividend yield stocks, ETF and bonds during this red season.
@@Stephenfanos37 How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?
Great video, considering I am working on a Play and Earn Game. The whole idea is to keep funds coming in from several sources. One key I am looking at is treating it as a pay as you go game. This will allow players to continue to play and earn and even potentially earn more as sponsors are added to the mix.
I'm DCAing in AMZSB7 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Appreciate your thoughts on this subject. I'm intrigued by the Metaverse and blockchain-based games, but there are a lot of reasons I suspect they're bubbles. You raise excellent points for consideration.
The blockchain miners club is an NFT project with both utility and sustainability. They are building a new kind of P2E game… PLAY 2 MINE Backed by over 146 real life Bitcoin miners, BMC is an innovative P2E game that will bring passive income for years…
Runescape also is a p2e game. Any currency you make in the game, you can sell for cash. So if runescape were to tokenize their gold and take money from all transactions, what would be the difference?
I hope you are considering "how" to overcome the obstacles mentioned in this video. I think there is a good use for blockchain in some games but it should support the "fun factor" primarily. The content of this video is exactly why I don't play NFT games.... because they are all dumb and boring right now. However, I play "New World" and people farm gold and sell it for real money. I believe this is where blockchain could help. People will always do such things and Devs get nothing out of it and they endlessly attempt to ban and stop the activity in futility. Devs can implement blockchain into their economy and allow players to sell their gold to each other for real cash (or crypto in this case). However, the problem with this, though Devs are rewarded in small transaction fees, is that the game can become a pay to win model and rewards players that have cash to throw away at the game. Regardless, I have wondered how an in-game economy that is an actual crypto coin would function. I suppose right now it is too tasking to implement such a concept. I also considered NFTs to be weapons and armor that players use instead of it being their actual avatar. Regardless, I hope you succeed in your implementation of play to earn concepts
@@MilVetGaming Don't wonder. Most Steam games have such functionality. The CSGO skins market is rife with RMT To the end user, there is no functional difference between a Blockchain hosted internally and a transaction database
Insightful video. I also agree on ad revenue and only having a market place for players to trade among themselves, which is basically most other games that are not on the Blockchain There's so much spammers on the comments though
thanks so much for your hard work in showing and teaching us what we need to know about this play to earn games educating us more about Ponzi scheme. i really appreciate your assistance to help improve our finacial freedom and also I feel your overall "not needed - all P2E will die" approach is a bit premature as we haven't even fully built out our layer 1 blockchains, which will later create more powerful tooling for game devs. Way, way too early for this take
While everyone is focused on BTC, ETH or any top alt coin and playing defensive they are missing on quality projects that are about to be launched on CEX. For example AMZSB7 will hit mainstream soon, 10x-20x quite possible even during this bear market but only few people know about this.
Counter strike skins are the perfect example of how blockchain can benefit the AAA studio, the skins can infinitely be sold in the secondary market and appreciate in value, and Valve collects a portion of every transaction in the process, making one skin a forever possible source of income.
This post is so valuable and so honest. I am very grateful for this content, I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
I've been saying it to friends for a year, only way a game can survive is if people are willing to pay2play so that the ones with expensive nft's can play2earn. A country has no economy if everybody who works in that country sends their salary to other countries... People need to spend cash in your country!
CryptoKitties is probably a good example of a game that makes sense on the Blockchain, but I agree that a lot of other games are not really necessary there.
Play-to-Earn probably not sustainable. Play-and-Earn or Play-and-Own is probably more so where the model is going. However, I think the magic of web3 gaming will not come from financial incentives, but from the types of games that the blockchain can enable. Like Eternal games that last forever as long as the underlying blockchain exists. Games where all resources are player owned and tradeable. Modular games where players and developers can select maps, features, etc. they want to use without purchasing an entirely new game or DLC pack. Blockchain in gaming quite literally gives the power to the players. Let me use a real-world example of why this matters. Imagine you and your friends just bought all this awesome paintball gear and go to your favorite spot to play a game. However they make some rule changes that don't let you use the gear you bought! In the real world, you can quite literally pick up your toys and go play somewhere else. However the other places may be cost prohibitive or too far away to be feasible. Similar things can happen in a game. Developer nerfs your characters/weapons or no longer supports your favorite maps, or whatever. With blockchain gaming, the items are yours, so someone could just build a new module that supports the gameplay you like and you can take your digital items and go play with that new module instead. I'm sure there are more examples but that’s what I can think of without additional research.
Valid points about fun/earn mechanism. I feel your overall "not needed - all P2E will die" approach is a bit premature as we haven't even fully built out our layer 1 blockchains, which will later create more powerful tooling for game devs. Way, way too early for this take. P2E could be in-game currency which could be the same one players can use their fiat(money) to purchase if they want to expedite the grind if you will (P2W). I think there's a way we can incorporate P2E without imploding the system (more like a bonus or additional route) not so centric on fiat gains on the backs of noobs.
Welcome back ser! Great video as usual. Opened my mind to a newer perspective regarding blockchain games when you mentioned how it does work but doesn't mean it has to be on there.
Best P2E model is something simallar to csgo, where the earning part isn't actually the main premise of the game, for a p2e game to be succesfull it needs to first of all you make a good game, and add a economy on top of that
Great videos. i spent around $300 on Axie Infinity just to experience the blockchain game. Honestly, it's not fun at all. The game mechanics is lightyear behind the well-known ones in the web2 space. Definitely a Ponzi scheme where people come to play due to speculation, not really for fun and entertainment
I must disagree with your points on why play 2 earn games don't need to be on the blockchain and the main reason is that it allows using a token made for that specific ecosystem which further allows controlling a finite supply, which in the end can help regulate the price in a more stable manner
Excellent explanation, mate. If only NFT games weren't all about pump and dump... Hopefully, my newfound game will not disappoint. It's known as the FAKETOWN metaverse game. Feel free to do some research about this game as well, mate.
Some great explanations! A few potential mistakes: 1. “External rewards reducing internal motivation” is a theory in psychology that is very specific to certain circumstances. Quite a few researchers argue that external rewards reducing internal motivation does not actually exist. I haven’t done the research to give a very knowledgeable opinion on the matter, but to assume it’s true is not necessarily the best assumption. 2. The potential blockchain offers in your fourth point is oversimplified. What you said was not wrong, but I don’t think it was best representation of the potential the technology has to offer to the gaming space, and why it is used. For more info on token based economics check out our research at Economics Design
As for your #1....just look at the public education system. They reward the misbehaving/disruptive students while looking past the well-mannered and behaved students. The disruptive students continue to manipulate the system while the academic results continue to fall and fall.
@@bluessrv1 reward the misbehaving? u serious dude in my country all misbehaves got punishments haha not rewards and why would they reward the misbehaving? ur not making any sense haha
I'm pretty sure I'm not your target viewer; I have very negative views on P2E and the Blockchain in general. That said, I really liked your video, it's nice to see someone sensible in the Crypto space and I hope that if smaller devs or players are watching this, they take something positive out of it.
Ok so i am building a NFT game and i don't want people to be buying anything in the game exsept for land (where you can build a house a business etc) and this is free to play not aviting it as a play to earn as its not how people can earn money is from making stuff looting stuff from enemys and searching for stuff you have a chance to get a rare items or even better then you can sell them to other players (Time in the game could mean money) so how I am thinking this will work for most people is - Player 1: that grinds in the game for 8h day have more chance of getting rare items - Player 2: has only 1-2h day/week but can buy that item from Player 1 making Player 1 money from his hard work - The game makes money from the transaction 10-20%
It goes to show that blockchain technology, which is really a ledger, has no place for games! Ledgers are for accounting related purposes, not video games that can store its points and attributes in the game without a format for the sake of some kind of accounting.
Owning in game unique assets will be HUGE. People spend billions each year on non existent in game assets with zero value... the block chain will allow for ownership of assets making everything you earn in game have a value attached it will create massive economy's inside of games and create massive wealth. Nfts and Gaming is only going to get bigger.
About Gaming - the fact that you can own in game items and trade them will kill all competition eventually. Of course, right know gaming companies don't want it - its their profit, creating and selling new items. But there are simple ways to earn from it, and probably way more than now - for example adding a small tax on every transaction of the nft, that will go to the creators. And it is something a lot of gamers craving for. Seems (and very hope) that it will become very soon the new standard. Great channel, thank you a lot!!!
Blockchain gaming is really a good one but there are underlying issues which needs to be resolved before the industry will thrive, some of the many issues is boring gameplay and also slow performance of the games due to smart contract issues and this has limited adoption and reduce the active users of most of the Blockchain games. BAJU is a project which seeks to solve, aside providing immersive gameplay it doesn't compromise on incentives, why have one when you can have both 🙂 It also seeks to provide a framework and of course tools to enable builders build a game that would be acceptable to users and gamers. MEXC is listing this gem soon though. Waiting to get my hands on it
Thank you so much for your hard work! 😊 Just a small off-topic question: 😅 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). I’d be grateful for some help. 🙌
You could put code in the NFT that if someone sells the in game item to another player in the in game marketplace the original owner being the game studio takes a cut from it. It still works. Also creating this in game marketplace and creating a used marketplace could entice more players to play the game and that in the end would make more money. Also limited edition items would work. There is a lot there that you never talked about that could make a game work extremely well on blockchain. Even I haven't said everything.
Wheels to a phone 😅 It's hard to explain it to people but, your time is valuable. Having a game that represents your time as in game currency is an amazing feature. Like imagine playing Fortnight and every kill you got V-Bucks but you can actually exchange out V-Bucks to your fiat currency! You can literally make a living playing games at that point and it funds more development through all the microtransaction.
actually a pay-2-win model where the rich ones would purchase from the poor ones - might solve the problem and be sustainable. The weak ones would be happy because they can get money from the rich ones and increase the amount of active players, which would be used as a meat for the rich players :) Everyone would be happy - rich players would enjoy destroying poor ones, and poor players would enjoy getting money from the rich players.
Making a functional game tokenamics is notoriously difficult and most developers know this very well. Even Gala games recently suspended their earnings rewards due to high inflation. I think most blockchain games being made just because the developers want to make a quick profit.
Thanks for this video. Good thing I encountered games with free to play mechanics. Just like Taunt Battleworld. Anyway, P2E never dies. For me, it's just evolving.😉😊
P2E games are a good way to make easy money, but only if you're early, and the market is booming. Also, it's a good idea to always sell any reward tokens especially if it has an infinite supply. Everyone else will be selling too and the price always crashes.
Maybe someone can do a play-to-earn 3D FPS MMORPG , BUT every single wall is an ad. At least you can choose to walk past and not skip after 5 seconds. And probably might be where the money comes from. Can even hold PvP tournaments and have actual IRL sponsors for each tourney.
so the nft being your item ingame can have a added code every time its sold the gamecompany gets a cut thisway you dont reduce the customers sonce the item can even go up in value
Is this a sign for me to stop playing?lol i actually started playing this nft game called monsterra days ago.This is my first nft game that i played since i discovered the world of crypto last may of this year.I dunno but i took the risk playing it because i'm having fun.
They need to 1. Make the games better games that can actually retain players just by being a fun game. 2. Don't market them as P2E, but just promote the actual ownership and don't claim the players digital assets. All the games that have huge black market economies and Chinese gold farmers were fun games first, and the items had value because people are willing to assign it value. In a free market, things are worth what people will pay for them. I essentially realize I'm not going to get paid for actual play - but I've seen digital Magic cards be worth hundreds of dollars as far back as MTGO, where we ran a player auction house on what was essentially an IRC client in the MTGO client. Quite a few of us built up out of literally being a good auctioneer in the AH chat and getting tips... and there was a huge economy, and that was nearly 20 years ago now. For instance, if they made WoW with real item ownership and potential to buy/sell them, it'd be an even bigger hit. Everyone knows people are going to make real money transactions if it's at all possible, so open it up.
Great few points, especially in the P2E and web3 spaces, the games are not all on par with existing web2 games. One such project that doesn't believe in the p2e craze and also exudes quality is Mythic Protocol.
Great video. What do you think about Legends of Bezogia? It represents the birth of Decentralized Gaming-as-a-Service (DGaaS), do you know anything about it?
i think the game should have a inside tradable market, FTT from FTX is the perfect example. The fees of every order is a token FTT, because the exchange has value. if we have a fps i think is possible tokenize kills and make tradable with a main crypto (liek happen with BTC that is the mainb crypto to trade with), that create a fluctuaction and trading them you can earn money cause like FTX exchange has value. other example RTS u can mine wood, steel,. food, energy etc... u can trade the source you find in game with other player cause not every world have the same reasource, and when you can trade them you can create value, the value of the exchange as free market that is a foundamental concept in finance. however some resource like the tokenization of wood can be stakable coins*
My experience with p2e comes from StepN. The key factor that I don't like with the game is that it's not actually competitively geared toward fitness (i.e. the amount you earn has little to do with the theme of the game which is fitness). Instead, you earn more by having a lot of StepN NFTs. You'd have to be in pretty bad shape to not maximize the amount you earn given the # of NFTs you have (e.g. if you have 6 shoes, which is not a small amount, you will max out your daily earning in only 20 min of walking or jogging). And finally, because its not competitive, it's not actually much of a game at all, it's mostly just a fitness app ties to the solana block chain with colorful visuals.
I think even with examples that you gave (i.e. ability to resell skins, secondary market), do we actually still need a blockchain? EVE Online achieve this without a blockchain
Hey there! I believe games without a blockchain backing their in-game assets trading have total control on those assets (like skins, vehicles, accounts, etc) and the secondary market as well. If it is not on a blockchain, who is to say that the game creators are not going to take down that secondary market? But because of the decentralized nature of the blockchain, no one entity can control and take it down. That ensures that even if the game creators act maliciously, the players won't be affected.
@@hajdibengu8410 that's true, "assuming" there's no centralization on the validators as well. Which is totally not true in the current state of things (e.g. Sky Mavis controls majority of validators in the case for Axie Infinity), so it's still centralized. They can still nerve any of your Axies. In the case when decentralization really happens, how do you even design the game that's 100% decentralized is "close to impossible" in my opinion (but may be some genius would crack it open).
Some of the problems listed are even more of an issue than it seems at first. A sustainable system needs a payer that is not expecting money to come back. So long as I put in$10 expecting $11 the system will never work. That's why Axiom can't ever succeed as everyone putting money in expects more in return. Yes. Advertising can work as that's the Google model. But advertising isn't going to pay you just because you can sit eyeballs in front of screens. Google has databases of all of their users that they can offer marketing groups for fine tuned data on customers.. They have algorithms to show how company advertising can hit exactly who they want to hit. And they have a mass of users on top of all that that endlessly view Google content and fill up those databases. Unless you are Google, you don't have much to offer advertisers to enough degree to create a system that regularly hands money to users that don't directly generate value. . What's more, TH-cam pays people based on how much value they provide. They pay for TH-cam videos because more eyeballs mean more money for TH-cam through those ad deals. This isn't TH-cam just handing money to video makers. It's advertisers paying TH-cam AND the content creators in order to receive a HIGHLY CATEGORIZED set of customers to sell to. A game where you make money killing fake monsters does not do that. Killing twice as many fake monsters does not give any value to the company or the advertisers. So why do they benefit from you actually earning money in this way? A system that works will need a way to earn money in game that, in turn, Earns money for the company AND the ones putting money in. Without that it didn't matter what technology you attach to it. Making a working system for handling the money, like a block chain, before actually making the system for money to cycle is like making the graphics before the gameplay. It's cart before the horse. Forget Blockchain, play 2 earn, crypto all those buzz words. Find something that generates value that someone would want to actually GIVE money to have. Value that is scalable: the more I provide the more Others will want. Once you have that, THEN you can think of having others who can be incentivized to generate that service. And THEN you can look into compensation which is where you think of 'play2earn'. Only when you have that complete system can you ask 'do I need a database outside of our systems to keep a regular record? THEN you can think of how Blockchain can help. Before then, you are a game talking about lighting systems and how many people will be in it and crafting and so that but when asked"what's this game about?" You just sit and stare.
Generally good points. Yet I think people need to think of it as earning some pocket change and being more than just a "player" in these games/metaverses. Most of us spend time and money on these games. These Play-and-Earn blockchain games help mitigate some of the cost and personal control players have from the game; especially when done well. I would actually totally disagree with the title though. With all the VC and developing studios that are working on GameFi, I see this space as only getting better and finally breaking into the mainstream. You have to also see it globally where it's more accepted and adopted in Asia, not just the anti-blockchain gamers in the West.
You know I like that this account is sensible and down-to-earth about crypto and crypto-related topics, crypto has some good points and ideas it's just that there are just a bunch of morons bogging it down with falling for all the dumb scams and investing in projects that are obviously too good to be true
what a eye opening video... wish i could have come to thie channel a month back.. i could not have investes in shitcoins and cpuld have saved myself a lot of money..
Mad respect for educating everyone. BTC's price has been fluctuating lately, but I think we should be educating the newbies on what to do aside holding rather than discussing about the dip. The good thing about the space is that you can buy the dips and put them into active trades making profits from trades while confidently waiting for a pump in price because it is inevitable. Most people do not understand how the space works. Your advantage is understanding, Charts won’t guarantee what an asset is going to do. Prices will go up or down. Nevertheless, the market has been so profitable despite price ups and down. I've always played safe implementing trades with insights and signals from a renowned trader, Mr Thomas Frederick White. I made 11.5 BTC from the recent crash in the market within a period of five weeks.
Well done, and well said. For the most part, I would have to agree that the majority of web3 games are not sustainable or enjoyable. @stop-pls-google made some excellent counter-points where blockchain and gaming could intersect in a wonderful way via in-game marketplaces. If you think of any used marketplace, it's one of the things that keeps the vendor honest. They have to compete with those sales. Most players will want the shiny new thing that comes with new attributes, versus the old thing from days past so I doubt it would affect the overall sales to any great degree. There is also something to be said for genesis pieces where gamers would collect original items for their collection potentially reselling them years after or not selling them at all. Web2 is where the game dev talent pool is today, but that is shifting. Web2 studios will take quite a bit of time to adopt certain elements of Web3 but I believe it's inevitable. Sadly they will fumble quite a bit as they learn what not to do. Either way, it's an exciting time to be building in gaming and crypto!
Scam alert: I will never contact you. Don't look up the tokens mentioned in the comments (they are scams). Be very skeptical in the comment section. Be safe
Would you like to fix the "Play to Win" typo around 2:30 ? 😀
And the bad cut take at 5:23?
What are your thoughts on Cornucopias?
Can you do a video on unicrypt?
literally every post in the comments section is a spam bot
Not die, but meta is change, new P2E game will take place
This was an excellent video describing not just the problem with PTE but also the psychology behind how this functions.
I cannot over emphasize the importance of being an experienced trader to make good returns off the crypto space, else you'd join the group that call it a gamble.
Those that understand the market trends always seem to be a step ahead and apply adequate measures to stay secure no matter the situation.
There are way too many information out there, its hard to know which to get into that will be suitable for you.
Would appreciate any assistance to get started, thank you.
You can get in touch with, Emilia E Arias.
You can find her on the net.
Trying to earn some extra income and this comment came in handy.
Thanks 😊
I just searched and found her web blog and I've reached out hoping to get a response soon.
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@jamesdrew296 You are right! I diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above 1.3m in net profit across high dividend yield stocks, ETF and bonds during this red season.
@@Stephenfanos37 How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?
@@Stephenfanos37 Please I'm very much interested. How can I get touch with this coach, i really want to give her a try.
@@Wellingtonluzia3 *PATRICIA DRITA JOSEFINA* is the coach that guides me.
Great video, considering I am working on a Play and Earn Game. The whole idea is to keep funds coming in from several sources. One key I am looking at is treating it as a pay as you go game. This will allow players to continue to play and earn and even potentially earn more as sponsors are added to the mix.
Wow, you absolutely nailed so much of what I've been contemplating - and in such a concise way with excellent examples. Will definitely share this!
I'm DCAing in AMZSB7 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Appreciate your thoughts on this subject. I'm intrigued by the Metaverse and blockchain-based games, but there are a lot of reasons I suspect they're bubbles. You raise excellent points for consideration.
The blockchain miners club is an NFT project with both utility and sustainability. They are building a new kind of P2E game… PLAY 2 MINE
Backed by over 146 real life Bitcoin miners, BMC is an innovative P2E game that will bring passive income for years…
Runescape also is a p2e game. Any currency you make in the game, you can sell for cash.
So if runescape were to tokenize their gold and take money from all transactions, what would be the difference?
I'm the lead blockchain engineer at Colonize Mars. Just want to say this video is spot on. Well done and thanks!
I hope you are considering "how" to overcome the obstacles mentioned in this video. I think there is a good use for blockchain in some games but it should support the "fun factor" primarily. The content of this video is exactly why I don't play NFT games.... because they are all dumb and boring right now. However, I play "New World" and people farm gold and sell it for real money. I believe this is where blockchain could help. People will always do such things and Devs get nothing out of it and they endlessly attempt to ban and stop the activity in futility. Devs can implement blockchain into their economy and allow players to sell their gold to each other for real cash (or crypto in this case). However, the problem with this, though Devs are rewarded in small transaction fees, is that the game can become a pay to win model and rewards players that have cash to throw away at the game. Regardless, I have wondered how an in-game economy that is an actual crypto coin would function. I suppose right now it is too tasking to implement such a concept. I also considered NFTs to be weapons and armor that players use instead of it being their actual avatar. Regardless, I hope you succeed in your implementation of play to earn concepts
@@MilVetGaming
Don't wonder. Most Steam games have such functionality. The CSGO skins market is rife with RMT
To the end user, there is no functional difference between a Blockchain hosted internally and a transaction database
Insightful video. I also agree on ad revenue and only having a market place for players to trade among themselves, which is basically most other games that are not on the Blockchain
There's so much spammers on the comments though
thanks so much for your hard work in showing and teaching us what we need to know about this play to earn games educating us more about Ponzi scheme. i really appreciate your assistance to help improve our finacial freedom and also I feel your overall "not needed - all P2E will die" approach is a bit premature as we haven't even fully built out our layer 1 blockchains, which will later create more powerful tooling for game devs. Way, way too early for this take
While everyone is focused on BTC, ETH or any top alt coin and playing defensive they are missing on quality projects that are about to be launched on CEX. For example AMZSB7 will hit mainstream soon, 10x-20x quite possible even during this bear market but only few people know about this.
Making a good game is a very difficult job, even it’s a card game, Blizzard level background needed.
Counter strike skins are the perfect example of how blockchain can benefit the AAA studio, the skins can infinitely be sold in the secondary market and appreciate in value, and Valve collects a portion of every transaction in the process, making one skin a forever possible source of income.
This post is so valuable and so honest. I am very grateful for this content, I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
what suprises me about her mostly is she gives her clients access to her trading site whereby they can monitor their trades on a daily basis
The only problem in your analogy is that without a wheel you can’t create a bearing which both submarines and cars utilize
I've been saying it to friends for a year, only way a game can survive is if people are willing to pay2play so that the ones with expensive nft's can play2earn.
A country has no economy if everybody who works in that country sends their salary to other countries... People need to spend cash in your country!
CryptoKitties is probably a good example of a game that makes sense on the Blockchain, but I agree that a lot of other games are not really necessary there.
10:22 it's easy, you take a fee for every play sale and you still earn a lot
Play-to-Earn probably not sustainable. Play-and-Earn or Play-and-Own is probably more so where the model is going.
However, I think the magic of web3 gaming will not come from financial incentives, but from the types of games that the blockchain can enable. Like Eternal games that last forever as long as the underlying blockchain exists. Games where all resources are player owned and tradeable. Modular games where players and developers can select maps, features, etc. they want to use without purchasing an entirely new game or DLC pack.
Blockchain in gaming quite literally gives the power to the players. Let me use a real-world example of why this matters. Imagine you and your friends just bought all this awesome paintball gear and go to your favorite spot to play a game. However they make some rule changes that don't let you use the gear you bought!
In the real world, you can quite literally pick up your toys and go play somewhere else. However the other places may be cost prohibitive or too far away to be feasible.
Similar things can happen in a game. Developer nerfs your characters/weapons or no longer supports your favorite maps, or whatever. With blockchain gaming, the items are yours, so someone could just build a new module that supports the gameplay you like and you can take your digital items and go play with that new module instead.
I'm sure there are more examples but that’s what I can think of without additional research.
Valid points about fun/earn mechanism. I feel your overall "not needed - all P2E will die" approach is a bit premature as we haven't even fully built out our layer 1 blockchains, which will later create more powerful tooling for game devs. Way, way too early for this take. P2E could be in-game currency which could be the same one players can use their fiat(money) to purchase if they want to expedite the grind if you will (P2W). I think there's a way we can incorporate P2E without imploding the system (more like a bonus or additional route) not so centric on fiat gains on the backs of noobs.
Welcome back ser! Great video as usual. Opened my mind to a newer perspective regarding blockchain games when you mentioned how it does work but doesn't mean it has to be on there.
Best P2E model is something simallar to csgo, where the earning part isn't actually the main premise of the game, for a p2e game to be succesfull it needs to first of all you make a good game, and add a economy on top of that
I already converted all my ETH to AMZSB7, now I feel like moving all my BTC to ADA as well.
Great videos. i spent around $300 on Axie Infinity just to experience the blockchain game. Honestly, it's not fun at all. The game mechanics is lightyear behind the well-known ones in the web2 space. Definitely a Ponzi scheme where people come to play due to speculation, not really for fun and entertainment
I must disagree with your points on why play 2 earn games don't need to be on the blockchain and the main reason is that it allows using a token made for that specific ecosystem which further allows controlling a finite supply, which in the end can help regulate the price in a more stable manner
Excellent explanation, mate. If only NFT games weren't all about pump and dump...
Hopefully, my newfound game will not disappoint. It's known as the FAKETOWN metaverse game.
Feel free to do some research about this game as well, mate.
This is amazing. Thank you. Can you do a video on unicrypt?
Great video... best explanation yet. 👌 best part.. "blockchain sprinkled on to the game" nailed it..
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Hi, I found a new League Of Hamsters project, now unique NFTs are being distributed, and the start is coming soon. What do you say about him?
League of Hamster's is a very interesting project) I really like that they have no analogue))) just imagine crypto hamsters in virtual reality,
and you can find out more about the project, I already heard something about the game related to Hamsters and crypto, I was attracted by the name
Very interesting, I want to know the mechanics of earnings itself. Yes, I'm also interested in seeing an overview of this project, thanks in advance.
A friend of mine looked at this project. I would also like to see the review
yes) there is a project League of Hamsters , interested in your opinion. Interesting review on it from you🌺
Some great explanations! A few potential mistakes:
1. “External rewards reducing internal motivation” is a theory in psychology that is very specific to certain circumstances. Quite a few researchers argue that external rewards reducing internal motivation does not actually exist. I haven’t done the research to give a very knowledgeable opinion on the matter, but to assume it’s true is not necessarily the best assumption.
2. The potential blockchain offers in your fourth point is oversimplified. What you said was not wrong, but I don’t think it was best representation of the potential the technology has to offer to the gaming space, and why it is used.
For more info on token based economics check out our research at Economics Design
As for your #1....just look at the public education system. They reward the misbehaving/disruptive students while looking past the well-mannered and behaved students. The disruptive students continue to manipulate the system while the academic results continue to fall and fall.
@@bluessrv1 reward the misbehaving? u serious dude in my country all misbehaves got punishments haha not rewards and why would they reward the misbehaving? ur not making any sense haha
I'm pretty sure I'm not your target viewer; I have very negative views on P2E and the Blockchain in general. That said, I really liked your video, it's nice to see someone sensible in the Crypto space and I hope that if smaller devs or players are watching this, they take something positive out of it.
Ok so i am building a NFT game and i don't want people to be buying anything in the game exsept for land (where you can build a house a business etc) and this is free to play not aviting it as a play to earn as its not how people can earn money is from making stuff looting stuff from enemys and searching for stuff you have a chance to get a rare items or even better then you can sell them to other players (Time in the game could mean money) so how I am thinking this will work for most people is
- Player 1: that grinds in the game for 8h day have more chance of getting rare items
- Player 2: has only 1-2h day/week but can buy that item from Player 1 making Player 1 money from his hard work
- The game makes money from the transaction 10-20%
Myself during this Bear Market only trying to focus on BTC, AMZSB7, ETH, SOL, MATIC. not losing sight of BNB and GALA. 🇨🇦
It goes to show that blockchain technology, which is really a ledger, has no place for games! Ledgers are for accounting related purposes, not video games that can store its points and attributes in the game without a format for the sake of some kind of accounting.
Owning in game unique assets will be HUGE. People spend billions each year on non existent in game assets with zero value... the block chain will allow for ownership of assets making everything you earn in game have a value attached it will create massive economy's inside of games and create massive wealth. Nfts and Gaming is only going to get bigger.
@@grxygxds couldn't have said it better 👏
Sent here by Asmon the Balding One, great vid!
Great video, thanks!
Can all 4 of these models be combined in some way? I think a hybrid model would be cool to see implemented.
Great video!
About Gaming - the fact that you can own in game items and trade them will kill all competition eventually. Of course, right know gaming companies don't want it - its their profit, creating and selling new items. But there are simple ways to earn from it, and probably way more than now - for example adding a small tax on every transaction of the nft, that will go to the creators. And it is something a lot of gamers craving for. Seems (and very hope) that it will become very soon the new standard.
Great channel, thank you a lot!!!
An example of this is how steam taxes the marketplace
That's bascially what csgo has done for years
When I hear “Plato Earn” I’m like “you go Greek philosopher, earn that money honey”
Blockchain gaming is really a good one but there are underlying issues which needs to be resolved before the industry will thrive, some of the many issues is boring gameplay and also slow performance of the games due to smart contract issues and this has limited adoption and reduce the active users of most of the Blockchain games.
BAJU is a project which seeks to solve, aside providing immersive gameplay it doesn't compromise on incentives, why have one when you can have both 🙂
It also seeks to provide a framework and of course tools to enable builders build a game that would be acceptable to users and gamers.
MEXC is listing this gem soon though. Waiting to get my hands on it
bot
So which p2e games have the most potential? Which ones are dead in the water?
Thank you so much for your hard work! 😊 Just a small off-topic question: 😅 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). I’d be grateful for some help. 🙌
Great explanation! P2E need to be fun rather than games that people play purely for the goal of financial gain
What can you say about illuvium?
For skin marketplaces, a royalty fee would be great incentive for devs.
Isn't that how NFTs are supposed to help artists? Royalties everytime it's sold?
Which doesn't need blockchain
You could put code in the NFT that if someone sells the in game item to another player in the in game marketplace the original owner being the game studio takes a cut from it. It still works. Also creating this in game marketplace and creating a used marketplace could entice more players to play the game and that in the end would make more money. Also limited edition items would work. There is a lot there that you never talked about that could make a game work extremely well on blockchain. Even I haven't said everything.
Wheels to a phone 😅 It's hard to explain it to people but, your time is valuable. Having a game that represents your time as in game currency is an amazing feature.
Like imagine playing Fortnight and every kill you got V-Bucks but you can actually exchange out V-Bucks to your fiat currency! You can literally make a living playing games at that point and it funds more development through all the microtransaction.
actually a pay-2-win model where the rich ones would purchase from the poor ones - might solve the problem and be sustainable. The weak ones would be happy because they can get money from the rich ones and increase the amount of active players, which would be used as a meat for the rich players :) Everyone would be happy - rich players would enjoy destroying poor ones, and poor players would enjoy getting money from the rich players.
TH-cam should really do something about comments...
Making a functional game tokenamics is notoriously difficult and most developers know this very well. Even Gala games recently suspended their earnings rewards due to high inflation. I think most blockchain games being made just because the developers want to make a quick profit.
I love your channel and how it simplifies complex concepts
Could you do a video explaining EVM?
Would really help.
Great content, really enjoyed it.
Please explain what is Kadena KDA
Exactly my thoughts on sustainability.
@Whatsapp±1218𝟻𝟸𝟷𝟸𝟿38 CryptoWendyO I just sent you an invitation to hell
I think varieties can help in the sustainability of the Gamfi industry
Thanks for this video. Good thing I encountered games with free to play mechanics. Just like Taunt Battleworld. Anyway, P2E never dies. For me, it's just evolving.😉😊
Your channel is amazing 🚀
P2E games are a good way to make easy money, but only if you're early, and the market is booming.
Also, it's a good idea to always sell any reward tokens especially if it has an infinite supply. Everyone else will be selling too and the price always crashes.
Another great video. THANK YOU
Maybe someone can do a play-to-earn 3D FPS MMORPG , BUT every single wall is an ad. At least you can choose to walk past and not skip after 5 seconds.
And probably might be where the money comes from.
Can even hold PvP tournaments and have actual IRL sponsors for each tourney.
so the nft being your item ingame can have a added code every time its sold the gamecompany gets a cut thisway you dont reduce the customers sonce the item can even go up in value
Is this a sign for me to stop playing?lol i actually started playing this nft game called monsterra days ago.This is my first nft game that i played since i discovered the world of crypto last may of this year.I dunno but i took the risk playing it because i'm having fun.
High quality content
I was so confused by the minecraft analogy haha
Hi... I really appreciate your hard work and dedication and specially making things so easy to understand... Can you pls make a video on ICP....
They need to 1. Make the games better games that can actually retain players just by being a fun game. 2. Don't market them as P2E, but just promote the actual ownership and don't claim the players digital assets. All the games that have huge black market economies and Chinese gold farmers were fun games first, and the items had value because people are willing to assign it value. In a free market, things are worth what people will pay for them.
I essentially realize I'm not going to get paid for actual play - but I've seen digital Magic cards be worth hundreds of dollars as far back as MTGO, where we ran a player auction house on what was essentially an IRC client in the MTGO client. Quite a few of us built up out of literally being a good auctioneer in the AH chat and getting tips... and there was a huge economy, and that was nearly 20 years ago now.
For instance, if they made WoW with real item ownership and potential to buy/sell them, it'd be an even bigger hit. Everyone knows people are going to make real money transactions if it's at all possible, so open it up.
Great few points, especially in the P2E and web3 spaces, the games are not all on par with existing web2 games. One such project that doesn't believe in the p2e craze and also exudes quality is Mythic Protocol.
Great video; clearly articulated points.
Binance CEO talk about AMZSB7 and hinted let it list on binance, cant imagine the price at 2023!.
Great video. What do you think about Legends of Bezogia? It represents the birth of Decentralized Gaming-as-a-Service (DGaaS), do you know anything about it?
Theorde please do you know anything about satoshi core mining
Excellent content. I used the last dip to stock up, buying AMZSB7 now its cheap, can't miss the presale.
i think the game should have a inside tradable market, FTT from FTX is the perfect example.
The fees of every order is a token FTT, because the exchange has value.
if we have a fps i think is possible tokenize kills and make tradable with a main crypto (liek happen with BTC that is the mainb crypto to trade with), that create a fluctuaction and trading them you can earn money cause like FTX exchange has value.
other example RTS u can mine wood, steel,. food, energy etc... u can trade the source you find in game with other player cause not every world have the same reasource, and when you can trade them you can create value, the value of the exchange as free market that is a foundamental concept in finance.
however some resource like the tokenization of wood can be stakable coins*
My experience with p2e comes from StepN. The key factor that I don't like with the game is that it's not actually competitively geared toward fitness (i.e. the amount you earn has little to do with the theme of the game which is fitness). Instead, you earn more by having a lot of StepN NFTs. You'd have to be in pretty bad shape to not maximize the amount you earn given the # of NFTs you have (e.g. if you have 6 shoes, which is not a small amount, you will max out your daily earning in only 20 min of walking or jogging). And finally, because its not competitive, it's not actually much of a game at all, it's mostly just a fitness app ties to the solana block chain with colorful visuals.
I think even with examples that you gave (i.e. ability to resell skins, secondary market), do we actually still need a blockchain? EVE Online achieve this without a blockchain
Hey there! I believe games without a blockchain backing their in-game assets trading have total control on those assets (like skins, vehicles, accounts, etc) and the secondary market as well. If it is not on a blockchain, who is to say that the game creators are not going to take down that secondary market? But because of the decentralized nature of the blockchain, no one entity can control and take it down. That ensures that even if the game creators act maliciously, the players won't be affected.
@@hajdibengu8410 that's true, "assuming" there's no centralization on the validators as well. Which is totally not true in the current state of things (e.g. Sky Mavis controls majority of validators in the case for Axie Infinity), so it's still centralized. They can still nerve any of your Axies. In the case when decentralization really happens, how do you even design the game that's 100% decentralized is "close to impossible" in my opinion (but may be some genius would crack it open).
Did you just say MINECRAFT is PAY 2 WIN?
Out of ALL the games out there, you choose MINECRAFT?
bro...
A lot of server works on that model sadly but yep, not the best example.
Some of the problems listed are even more of an issue than it seems at first.
A sustainable system needs a payer that is not expecting money to come back. So long as I put in$10 expecting $11 the system will never work. That's why Axiom can't ever succeed as everyone putting money in expects more in return.
Yes. Advertising can work as that's the Google model. But advertising isn't going to pay you just because you can sit eyeballs in front of screens. Google has databases of all of their users that they can offer marketing groups for fine tuned data on customers.. They have algorithms to show how company advertising can hit exactly who they want to hit. And they have a mass of users on top of all that that endlessly view Google content and fill up those databases.
Unless you are Google, you don't have much to offer advertisers to enough degree to create a system that regularly hands money to users that don't directly generate value.
.
What's more, TH-cam pays people based on how much value they provide. They pay for TH-cam videos because more eyeballs mean more money for TH-cam through those ad deals. This isn't TH-cam just handing money to video makers. It's advertisers paying TH-cam AND the content creators in order to receive a HIGHLY CATEGORIZED set of customers to sell to.
A game where you make money killing fake monsters does not do that. Killing twice as many fake monsters does not give any value to the company or the advertisers. So why do they benefit from you actually earning money in this way?
A system that works will need a way to earn money in game that, in turn, Earns money for the company AND the ones putting money in. Without that it didn't matter what technology you attach to it.
Making a working system for handling the money, like a block chain, before actually making the system for money to cycle is like making the graphics before the gameplay. It's cart before the horse.
Forget Blockchain, play 2 earn, crypto all those buzz words.
Find something that generates value that someone would want to actually GIVE money to have. Value that is scalable: the more I provide the more Others will want.
Once you have that, THEN you can think of having others who can be incentivized to generate that service. And THEN you can look into compensation which is where you think of 'play2earn'.
Only when you have that complete system can you ask 'do I need a database outside of our systems to keep a regular record? THEN you can think of how Blockchain can help. Before then, you are a game talking about lighting systems and how many people will be in it and crafting and so that but when asked"what's this game about?" You just sit and stare.
Blockchain games revolve around a speculative asset
Great breakdown as always. Thx!!!
Generally good points. Yet I think people need to think of it as earning some pocket change and being more than just a "player" in these games/metaverses.
Most of us spend time and money on these games. These Play-and-Earn blockchain games help mitigate some of the cost and personal control players have from the game; especially when done well.
I would actually totally disagree with the title though. With all the VC and developing studios that are working on GameFi, I see this space as only getting better and finally breaking into the mainstream. You have to also see it globally where it's more accepted and adopted in Asia, not just the anti-blockchain gamers in the West.
While not blockchain PTE, Entropia Universe is what other PTE developers should strive to be like.
Check out Legends Of Bezogia! This MMORPG has the tokenomics to succeed where all these other P2E games failed
Steam marketplace straight up reduces the use cases for blockchain technology down to nill
You know I like that this account is sensible and down-to-earth about crypto and crypto-related topics, crypto has some good points and ideas it's just that there are just a bunch of morons bogging it down with falling for all the dumb scams and investing in projects that are obviously too good to be true
Make a video presentation about Astar Network
what a eye opening video... wish i could have come to thie channel a month back.. i could not have investes in shitcoins and cpuld have saved myself a lot of money..
Can u plz make a video on Hedera (HBAR)?
What you think on the pikaster game?
Why WhiteBoard Crypto till now had not mentioned the Tron Network and how it works
pls like this comment so that Ted can say it
The economy for this games is not established, at all. Check our concept where Bitcoin halving model used to distribute infinitely.
Well, yes. To not die they have to actually be good games in the first place. Duh...
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You can check devikins, Devikins is the hiden gems in web3
Well done, and well said. For the most part, I would have to agree that the majority of web3 games are not sustainable or enjoyable. @stop-pls-google made some excellent counter-points where blockchain and gaming could intersect in a wonderful way via in-game marketplaces. If you think of any used marketplace, it's one of the things that keeps the vendor honest. They have to compete with those sales. Most players will want the shiny new thing that comes with new attributes, versus the old thing from days past so I doubt it would affect the overall sales to any great degree. There is also something to be said for genesis pieces where gamers would collect original items for their collection potentially reselling them years after or not selling them at all.
Web2 is where the game dev talent pool is today, but that is shifting. Web2 studios will take quite a bit of time to adopt certain elements of Web3 but I believe it's inevitable. Sadly they will fumble quite a bit as they learn what not to do. Either way, it's an exciting time to be building in gaming and crypto!