How play to earn games & NFTs will impact the future of Metaverse economy?

Digital ownership, NFT projects, and the metaverse - these Web 3.0 phrases have made their way into the public lexicon. As a result, we're seeing blockchain projects and concepts that aim to transform the way things work. Music, art, and gaming are among the primary industries undergoing transition, with gaming, in particular, gaining a lot of attention because of a new monetization method known as play-to-earn (P2E). Blockchain development is on the rise. 

P2E promises non fungible tokens as a way for gamers to profit from their in-game activity (NFTs). Users in traditional games spend hundreds of hours playing a game with nothing to show for it when they move on. P2E games turn traditional game assets into NFTs, allowing players to benefit from their in-game items in the real world.

P2E promises non fungible tokens as a way for gamers to profit from their in-game activity (NFTs). Users in traditional games spend hundreds of hours playing a game with nothing to show for it when they move on. P2E games turn traditional game assets into NFTs, allowing players to benefit from their in-game items in the real world.

While many P2E games have had a lot of success, they come with a price – one that the players must pay. These initiatives are often not created with a long-term future in mind, instead of generating value through mint and burn token structures and high inflation token incentives. Supremacy is a metaverse play-to-earn project that aims to move beyond this rudimentary manner of earning and instead create a long-term, sustainable economy for players to gain from.

A long-term economic strategy

Supremacy's economy is structured as a looping economic system with feedback correction, powered by the XSYN Network. Simply put, SUPS, the project's utility token, is a fixed supply token that runs in an economy, simulating typical resource supply and demand, circular flow of units of account, scarcity, and more. The value of SUPS is not directly associated with the flow of SUPS within the platform, unlike previous projects, and all resources within the game are subject to traditional market dynamics.

Furthermore, Supremacy intends to go beyond a mere game. The project will function as a platform that will enable a variety of games that players may bounce between and benefit from, allowing them to develop a broad passive revenue stream. Ninja Syndicate, the company behind Supremacy, is looking beyond blockchain to traditional games as well, with the hopes of creating even more profit-generating options as the technology advances.

Wrapping up

While play-to-earn is still a niche, it has the potential to change more than just the gaming industry. Indeed, we argue that technology has the potential to alter how individuals interact with and perceive traditional socioeconomic systems such as financial institutions, markets, and governments. Play-to-earn games serve as a proof of concept for a self-sovereign financial system, an open creator economy, and universal digital representation and ownership, all of which lend themselves to a wide range of emerging digital environments and forms of value creation.

We value objects and experiences as humans because we live in a world and a period when those objects have been assigned worth by society. The metaverse denotes a point in time when digital goods, experiences, and relationships are valued higher than our physical surroundings. There’s been a huge demand for Metaverse experts and NFT developers lately. Enroll in a blockchain development course and get started.