The eSports and gaming industry is one of the fastest growing in the world, with more people turning to gaming as a profession. This is a far cry from the early days when gaming was seen solely as a hobby and a means to relax.

The introduction of blockchain technology in gaming has further expanded this notion as you can get paid to play. Unlike the traditional system where all the profits made in the games go to the developers, web3 games or Play-to-Earn games provide a way for players who like to play to earn constant profits.

In today’s article, we’ll explore how Play-to-Earn games work and why the service economy introduced by CropBytes could be a game changer for players.

What exactly is a Play-To-Earn game?

P2E gaming allows players to take actual ownership of their in-game assets, which P2E game developers coin as NFTs on the blockchain. Although they function almost identically to their traditional counterparts, having in-game items minted as NFTs and fully usable in-game currency as crypto opens up a world of possibilities for the player.

Skins, weapons, characters, in-game currency, and even virtual land in the metaverse can be traded or sold for profit, just like any other NFT. And, as with any other NFT, some of these in-game assets can sometimes fetch exorbitant prices on the secondary market.

Another significant difference between P2E games and traditional video games is their decentralized nature. In other words, the continuous development of P2E games is done collaboratively, and developer feedback is frequently used to improve the game. To encourage more community building among a P2E game’s player base, dedicated player groups can even come together to form a decentralized autonomous organization (DAO).

However, players can participate in the continuous progression and development of a P2E game in a much easier way. They can start by simply playing the game, and players participating in the in-game economy create value for other players and developers.

Service economy: a sustainable P2E game model

Despite the initial euphoria, the hype behind P2E projects has subsided due to the extensive bear market that has gripped the crypto space.

Many projects have been forced to close due to the unstable agricultural economy. The bear market often provides a period of clarity and it is obvious that P2E projects must focus on developing sustainable economic models.

CropBytes, a game-to-win platform, advocates a unique concept called the service economy as a way to create sustainability.

The core concept is that for a P2E platform to generate consistent income, the in-game economy must generate wealth, which players can use to earn a consistent income through gameplay. However, wealth creation cannot be left solely to the players, and investors and traders must also have a place in the in-game economy.

A service economy can be applied to any aspect of life, not just video games. The general idea is that those with money will want to pay others to do things that they cannot do.

Set against the backdrop of CropBytes, a game where players raise animals and grow crops for rewards. It could be as simple as paying someone to grow crops or feed animals. It is common in the world of video games for players with deep in-game money to outsource some of their playing time to others who may have more free time.

A service-based economy is not a key component in any other video game today. In addition, the loan is another service that can provide sustainability. NFT owners can lend their assets to players who make money playing Cropbytes or Axie Infinity for a fee.

CropBytes continues to lead the way for others to follow. For example, Axie Infinity recently launched their Axie Homeland Alpha, which is based on CropBytes’ service economy model, in which an Axie land owner hires a Worker Axie to help perform tasks on their property for a fee. .

This helps create a sustainable economic cycle that provides value beyond the in-game token price.

Final summary

However, many play-to-win blockchain games are often unsustainable because developers are more concerned with making a quick buck for themselves and players than creating a long-lasting product.

With the implementation of the service economy, CropBytes is poised to usher in a new generation of web3 gaming. This will allow gamers to earn a living without making any investment and create a revolutionary economic model for blockchain gaming.