Since Bitcoin was launched in 2009, the crypto market has seen many significant innovations and evolutions in its narrative. However, there are always two sides to every new invention, and the crypto market isn’t an exception.&
With every new utility, feature, or technology, there are optimists who believe it’s the next big thing and doubters and naysayers who don’t believe the hype. This is the tale of the play-to-earn (P2E) ecosystem and the coins at the forefront of the P2E revolution.
P2E: the good, the bad and the profits
P2E games have been criticized for a myriad of reasons. For years, industry veterans and traditional gamers have criticized the idea of “finance and fun,” arguing that games should be played solely for fun and not for financial gain. To make matters worse, early iterations of P2E games suffered economic challenges and subsequently collapsed. This raised questions about the sustainability of P2E games.
Although P2E games were not without challenges at the onset, the structure has grown over the years. The first P2E games increased token issuing as more players joined, which reduced the token’s value and earning potential for players. This can be considered an honest error since the creators were still testing the idea of a P2E game.
Despite the criticisms, P2E games have proven that they have quite the potential to change the gaming industry. These games offer players the opportunity to earn passive income, own in-game assets, and tokenize them as NFTs.
By incorporating financial incentives, P2E games have attracted a different category of players, further contributing to the growth of the gaming and crypto industries. These games support innovation and creativity in the industry, as developers have to up their game to create new genres, mechanics, and features that leverage the potential of blockchain technology.
Unlike traditional financial institutions, P2E games allow players to take full ownership of their digital assets. Players can store, transfer, and sell their assets without restrictions or third-party interference.&
The creators of P2E games have continued to improve on the offers and utilities of their games. With the level of dedication involved in the design of coins like& $GFOX, $AXS, $RON, and $SAND, gamers can rest assured that P2E games can only get better.
Top P2E coins on the market today&
$GFOX
The Galaxy Fox ecosystem offers an immersive play-to-earn game where players can earn passive income as rewards. By actively participating in the game, players can accumulate GFOX tokens and in-game assets. Additionally, the merchandise shop in Galaxy Fox’s ecosystem offers products and profits that are donated to the community’s treasury.
Of the coins listed here, analysts have tipped $GFOX as the token with the most potential. Aside from its utilities, the token is still in its presale phase, with the potential to earn early investors 100x their investment when it is launched on a DEX. The coin has made over $3.5 million so far in sales, and it is still going strong.&
To learn more about Galaxy Fox and/or join the $GFOX presale, join the Community or visit Galaxy Fox Presale.
$AXS
Axie Infinity is a popular digital game with NFT and blockchain attributes. The game allows players to earn Smooth Love Potion ($SLP) tokens, which can be exchanged for real cash. Axie Infinity also rewards players with NFTs.&
The game’s token, $AXS, allows holders to vote for major decisions in the network. Token holders can also stake their tokens to earn more and participate in governance proposals. $AXS has shown impressive growth, with a price increase of 20.90% in the last 7 days.
$RON
Ronin is a blockchain designed for gaming purposes. Like Axie Infinity, Ronin was developed by Sky Mavis. Today, Ronin has millions of active users and a volume of over $4 billion. Ronin supports instant transactions and affordable fees in its ecosystem.&
The $RON token is backed by Accel, Binance Labs, Paradigm, and Animoca Brands. However, in the last 7 days, $RON has had a price dip of about 8.90%.&
$SAND
$SAND’s increase of 19% over the last 7 days indicates its growing popularity. It is a decentralized virtual platform where creators design custom games.&
Although it is similar to Roblox, the platform ensures that players own their virtual assets as NFTs. These can be staked as SAND tokens, customized assets, or even monetized.
Final thoughts
P2E games have become quite popular in the crypto market and the gaming industry. Their multiple benefits of passive income, token reward and ownership, and community involvement have made them an indispensable tool for a growing niche of players.&
While many networks have embodied the main goal and benefits of P2E games, Galaxy Fox has provided more utility and profit potential.&
The post Is P2E the most undervalued sector in crypto? The good, the bad and the profits appeared first on CoinJournal.
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