The Reality About Play2Earn Gaming
Let's be very clear to start off with, not everyone can end up being a winner in this story as the money has to come from somewhere. Those that are in the games that turn out to get adoption early and play it smart indirectly will earn off the back of players that are in late along with those that play it in a less intelligent way or give up at the first wall they hit. If you are someone coming into a game with the question "How Much Can You Earn?", you most likely are already way behind when it comes down to the right mindset which most likely will prevent you from ever getting things going.
Some of the questions you should ask are:
- How Solid & Reliable is the Team?
- How Early are we still?
- Is the Game Fun and would people actually play it also spending money if there was no earning potential?
- What are the tokenomics & Play2Earn Mechanics?
- How much Hype is there around the Game?
- ...
Getting In Early!
If it was possible to travel back in time, it would be really easy to get crazy rich with play2earn gaming. All you needed to do is get in on Axie Infinity early or load up on Cheap Splinterlands cards while some of the whales were dumping (See Reasons I'm buying more Cards and DEC) There are many more examples like this where getting in early would have given insane returns. On the other hand, there are probably more projects that went nowhere or got players & investors totally wrecked.
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It is safe to say that there most likely are games right now that are in a somewhat similar phase as Axie & Splinterlads were a while ago and getting in on them now will end up bringing insane returns. Things have gotten a lot more difficult since many investors/players are anticipating this which gives most of the projects that are being worked out crazy high valuations before the game is even Launched. A Hyped game like Illuvium has a fully diluted Market Cap of 11 Billion Dollars (to me it honestly looks like a shit game). While there is always a chance for existing hot games or upcoming hyped games to even become a lot bigger, the risk/reward ratio just isn't there to really get crazy returns from them.
If you really want to get in early you will need to put a lot of time in searching for smaller games that are totally under the radar, once something is being covered on some of the major Crypto Play2earn Youtube Channels, it likely is already too late. Testing things first hand and learning how the play2earn mechanics work will require a lot of time and work. Getting in early with conviction does require a lot of trust in your own judgment which is a skill you can develop.
Time Horizon & Compounding Effect!
Many that come into Play2Earn seem to want instant earnings without investing or spending a lot of time playing. If you really want to earn or 'get rich' you are more likely going to need a much longer time horizon looking at it in terms of multiple years (4+) spending a crazy amount of time playing, researching, learning, engaging, ... in order to make it happen. Especially when coming in with little to no funds to invest. You will also have to make the compounding effect work in your favor in that you can reinvest the money you earn from one game to get into another and so on.
It really is a matter of getting the ball rolling even inside the games themselves, as you grow your account and collections you will start earning more. You also need to do this in a smart and calculated way. In Splinterlands for Example you can buy the 10$ spellbook to unlock earnings, play each and every day completing the daily quest in Bronze League and still get nowhere because the rewards are just totally nerfed to prevent bots.
Many will complain about it and never get anywhere quitting at the first wall they hit, others will find ways to get into Silver League even without investment by for example using renting tricks or joining initiatives like the Weekly Battle Challenge. You want to be a player that finds solutions!
Time Investment!
Even if you come into Play2Earn Gaming with zero funds or knowledge, it is still very much possible to get to a point you earn more than a regular job if you are just willing to invest your time. It is all about being consistent in your approach keeping it up during both the good and the bad times. The more time you are willing to invest, the higher you will potentially be able to reach. These are some of the ways you can spend your time to get ahead...
1. Play Your Games.
The more games you play and the better you get at them, the more you put yourself in a position to earn and the more funds you will have to reinvest letting things compound over time. Even though I often didn't feel like playing Splinterlands the past years, I still completed the daily quests each and every single day with few exceptions and I still do to this day. You will have to pick your spots in the games you play as it's better to be an absolute expert in 1 or 2 of the play2earn games that you believe in and really enjoy compared to playing all of them casually.
2. Stay Informed on the Development.
A lot of the earning potential in many of these games doesn't come from playing the actual game itself but from having an informational edge being able to get in on certain opportunities that usually don't stay available for long. For Splinterlands, I used to listen to all the weekly AMAs on Friday just to be on top of everything that was going on. It helped to make good decisions like getting in on SPT back when it was 0.0002$ (now 0.005$) (See Post) or make sure to Stack on Quest Potions when they were offering too much value (See Post). For Clash Of Streamers, I also put on the daily Developer Stream just to stay up to date with everything going on.
3. Learn & Improve your Playing Skills.
Actively learning about the games you play and getting a lot better at them also requires quite some time that you will need to put in. In nearly all cases, this will increase your earnings adding to the compounding effect.
4. Create Content.
Creating quality content around the games that you play requires quite some time but it also can give so much back when you really put effort into it and have the patience to build somewhat of an audience. Not only can you monetize the content itself on platforms like Youtube, Hive.blog, Splintertalk.io, 1up.zone, Publish0x, Noise.cash, Leofinance.io, ... It will potentially also give you some Affiliates that can help you grow or sponsorship deals once you get bigger. For Clash Of Streamers if you are a content creator in a certain language and put effort in creating a community, you can get featured meaning that everyone that downloads the game in you regio will automaticlly be under your affiliate making you do extremely well. An example of this is Adrielle who has a Phillipines community around the game.
5. Community Engagement & Making Friends.
Being part of a community engaging with it while making some friends can help you a lot and also save you some time when you have a group of like-minded people who share the workload. There are also often giveaways like for example Crypto Banter who is giving away Pre-IDO allocations in different types of games like Monkey Ball (Link ). Guilds in Splinterlands are also a good way to increase your earnings.
6. Scolarships.
Many of the play2earn crypto games have scholarship systems or have Guilds like Yield Guild Games that have people play for them sharing part of the earnings in return for the time that was put into it.
There are just so many ways where you can invest your time in ways that allow you to grow your overall earnings with these games and they are a major part of the success. I would go as far as saying that getting all of this right is key in getting on top of everything that has to do with Play2Earn.
My Current Approach!
After spending the last 2-3 years very deep into Splinterlands both playing and accumulating in-game assets getting engaged in the community, I'm now more in maintenance mode taking some profit along the way. I believe it will continue to be a good source to get some earnings and new players still can do well with it even though I believe the biggest explosive growth likely is behind it which makes me look at other games.
My focus right now is much more on Clash Of Streamers which checks all my boxes of a Play2Earn game will get huge.
- It is by far the most Fun Play2earn game by my experience
- It has really good Game Design
- The Team is Rock Solid
- The play2earn Tokenomics are solid and actually sustainable
- The Numbers they are able to show are excellent already
- The Game is Totally Under the Radar Still
Conclusion!
The answer to the question if you can get rich from Play2Earn games even when starting with nothing to invest is Absolutely! How to do it? It actually isn't that difficult if you are willing to put the required time investment into it. Take a time window of at least 4+ years and be willing to put in consistently at least 2 hours into it daily. Make enough smart decisions and let everything compound over time not giving up when you feel like you have hit a wall and the ball will get rolling.
Play2Earn Games I'm currently Playing...
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Crypto Social Media I'm Using...
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