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Role of P2E Industry in Development of DeFi, Web 3.0 and NFT

UTC by Dan Khomenko · 4 min read
Role of P2E Industry in Development of DeFi, Web 3.0 and NFT
Photo: Sidus Heroes

Play-to-earn projects do not only focus on generating profits for their developers and investors, they also make a sizable contribution to the development of the whole DeFi market in general. 

The chances of coming across such terms as GameFi, P2E, Web 3.0 and NFTs are pretty high nowadays. For the longest time, games were just a distraction and a way to take the edge off the everyday routine.

In the era of blockchain technology, conventional games are not of so much interest anymore. Millions of players are turning to play-to-earn games that provide them with the chance to make real money, without the need to leave their computer desk.

Play-to-earn projects do not only focus on generating profits for their developers and investors, they also make a sizable contribution to the development of the whole DeFi market in general.

P2E Projects – More than Just Games

It is crucial for skeptics to keep in mind the fact that projects adopting the play-to-earn business model are more than just games with boring gameplay. In reality, P2E brings value to the DeFi and NFT markets since it uses the following components:

  • Firstly, every blockchain-powered game has a native token that is used to pay for the creation or minting of NFTs. It can also be used to give players the right to vote.
  • Next, non-fungible tokens, more commonly known as NFTs, are an integral part of any play-to-earn project. Developers are using NFT technology to turn in-game assets into tradeable tokens. These assets can be characters, mystery boxes, spaceships, animals, land plots, weapons and so on.
  • Last but not least, additional in-game currencies can offer additional utility inside a project and this is no rare thing. For example, Small Love Potions or SLPs are necessary for breeding Axies in one of the hottest play-to-earn games called Axie Infinity.

Essentially, these are all elements that help to form the GameFi industry. As you can see, play-to-earn projects not only aim to deliver joy to players, they contribute greatly to the popularization of NFTs and provide you with the opportunity to use them as part of the gameplay process, as opposed to keeping them purposelessly in your wallet, waiting for a price hike.

What’s even more important is the fact that P2E games successfully attract thousands of new and enthusiastic users, as GameFi is the easiest way to enter the complex world of cryptocurrencies. An extensive community owning and trading blockchain games’ native tokens and in-game currencies brings a huge amount of liquidity into the GameFi market and the DeFi industry as a whole.

P2E Games and Web 3.0

Users all over the world are inspired by the idea of Web 3.0, which is a fully decentralized internet that does not use any personal data and boasts the highest level of security.

However, the creation of Web 3.0 requires developers who are able to build completely self-governing and permissionless solutions. Unfortunately, we have not reached this stage yet but we do have a wide spectrum of P2E games that allow technicians to gain experience in this area and enhance their qualifications.

Thanks to play-to-earn projects, developers are learning how to create fully-fledged, comprehensive ecosystems in which all of the elements interact seamlessly with each other, bringing the actual roll out of Web 3.0 that much closer.

Actually, developers are doing fairly well, which we are successfully proving with my team. We tried to surprise the world community by proudly rolling out a project called SIDUS HEROES, which is a Play-to-Earn, NFT-featuring, MMORPG game.

The SIDUS platform has endless strengths and advantages. Many of its features were born out of careful analysis of market conditions and then incorporated into its design. To start with, SIDUS HEROES is a social lift, an educational platform that provides users with different opportunities to earn real money, become financially literate and gain entrepreneurial skills.

We are especially proud of the fact that the game implements an intricately developed political system, with factions, parties and council members. Users are even able to participate in transparent and honest elections. All these factors influence the development of the game and the execution of key decisions within the evolving framework of the universe. This hasn’t been seen before in the play-to-earn sector and everyone should try it at least once in their life.

SIDUS HEROES was built by professional blockchain developers. Our team is driven to implement the most advanced technical solutions and deliver comprehensive products.

Final Word

In conclusion, do not underestimate the importance of play-to-earn projects since they directly affect other spheres, including DeFi, NFT and even Web 3.0. They allow developers to gain useful knowledge from their mistakes and allow regular users to earn some money while enjoying a thrilling gaming process.

Guest Posts
Julia Sakovich
Author: Dan Khomenko

Chief Executive Officer at NFT STARS! and SpaceSwap. Executive board member of the Platinum.fund. International entrepreneur. Software developer. Property developer in Australia. Angel investor.

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