By Mary Umlas and James Santua
Non-fungible tokens (NFT) are not merely game rewards alone. These tokens can be garnered in various “play-to-earn” blockchain crypto games and later on converted to cash.
For a country with an unemployment crisis, such games have helped ease this social problem, especially in rural Filipino communities.
Earlier this year, a documentary called “Play-to-earn: NFT Gaming in the Philippines’’ showed how an NFT game called Axie Infinity has helped residents from Cabanatuan City, Nueva Ecija recover from challenges brought about by the Covid-19 pandemic.
Here are some popular cryptogames that hooked many Filipinos to play.
Axie Infinity is a Pokémon-like game that requires at least three Axie creatures to play. These characters are not exactly cheap and players must invest in buying them on the Axie Marketplace.
Despite the paying-to-earn concept, this game enables investors or managers to allow someone else to play for them through a scholarship program, making scholars play while halving the earnings with their manager.
Axie Infinity has also breached $1 billion in all-time sales, having more than a million daily active users today, according to DappRadar.
With all these successes, one of its co-founder, Aleksander Leonard Larsen said they are only “15-20% finished” developing the game.
“Axie Infinity is more than a game at this point. It is a social place where you meet your friends and like-minded people. It is a job platform. This has huge implications – a new digital nation is forming. And $AXS is at the heart of it,” Larsen said.
A role-playing game where players shall possess characters — an armored swordsman and a blade weaponry. Up to four characters can be stored in a single CryptoBlade account. The game has an element system that includes fire, water, lightning, and earth.
Gamers will compete against other players to acquire the SKILL token, which serves as the game’s currency.
When the Binance Coin (BNB) is utilized, there is a transaction charge or gas fee that must be paid for each combat. When the user’s BNB runs out, stored skills can be traded for BNB.
My DeFi Pet
My DeFi Pet, on the other hand, is a virtual pet game that mixes DeFi, collectibles, and personalization.
DeFi refers to decentralized finance, a blockchain-based finance that attempts to eliminate mediators between participants in a financial transaction.
The game centers around collecting, breeding, evolving, and trading in order to make money. The idea is to collect rare monsters, feed and breed them to produce more. The higher production leads to gaining more DPET tokens, which is the game’s coin.
To play this game, at least one egg of a monster is needed. One egg is equivalent to three DPET coins.
As the pandemic and lockdown continues, people are spending more time in games to pass the time. Converting game tokens to cash has taken shape because of the blockchain technology, allowing gamers to earn while doing the thing they love.