Since its creation, online gaming has seen revolutionary changes; ten years ago, most people would have laughed at the idea of earning money while playing video games.
But that’s no longer the case, as the bright future of web 3.0 and play-to-earn technologies ushers in a time when gamers may now profit from their abilities and good fortune.
These two blooming industries are expected to transform gaming as we know it and change how we interact with one another through video games forever.
The shift to play-to-earn
When it comes to online gaming, only the developers and companies in charge saw a profit; players just had to pay for in-game items which had no real-world value.
However, this is changing as players increasingly look for rewards for the amount of time they spend in virtual gaming environments as well as how much they stake in these games.
This was made possible by the metaverse development, which promoted the play-to-earn(PTE) model that has become popular lately.
The difference between conventional gaming and PTE
The majority of games to date have utilised a centralised economic system, which gives developers and publishers complete control over all in-game currency and the ability to distribute in-game goods whenever they see fit.
One could buy in-game currency using real-life assets but the opposite wasn’t true.
For instance, the creators have the power to permit you to possess skins or any other in-game things. However, you would have no recourse and the item or skin would be gone if they decided to end the game or remove any game elements that affected the thing you owned.
Since the introduction of the “play-to-earn” paradigm, all of the virtual items you have obtained inside the game are yours, and you are free to use them any way you see fit. Even other online markets are open to you selling them.
The most significant difference however is the fact that these in-game assets can be exchanged for real-life currency.
The Neoverse model
Neoverse is the first metaverse in the world designed for the strategist in you. From playing chess, poker, and blackjack, and even among us, users can prosper, dominate, enjoy, and make money using their tactical abilities, strategies, and luck in the Neoverse.
The Neoverse, which soon will serve as the nexus of all strategic minds in the metaverse, operates on the Play-for-Earn principle and conducts its trade using $NEO tokens that can be used for a variety of functions.
$NEO and its working
- Players can wage $NEO and challenge one another in-game. The staked $NEO will be paid to the winner.
- In the same way, as with online sports betting, players can wager $NEO on their live games. The game pool money will be distributed among the participants whose predictions were accurate after the game.
- Every weekend, users wager their earned ENEO and spend time in the Neoverse competing in the tournament, giving them the chance to win $NEO and ENEO.
- In order to gain $NEO, players can stake their NFTs or $NEO on the Neoverse market.
- By placing a wager with their ENEO, players can take part in Kingdom elections every three months. Top ENEO stakes players will take part in the challenges to either win a place at the high table or become king or queen of the realm. Every game challenge in Neoverse is subject to a 1% tax, which the kingdom collects and distributes to high-table players, kings, and queens hierarchically.
Conclusion
Predominately the games and challenges in the neoverse will work on the Play-for-earn model however, for the initial launch, Neoverse will be hosting weekly challenges where users can earn NEO tokens for free, ie the Play-to-earn model will be used in these initial weekly challenges.
Simultaneously players can also utilize the power of creation to host their own Play-for-earn games where everybody participating will be required to put some assets up for stake.
These two models of the Neoverse will go hand in hand while ensuring all in-game currency can be traded for real-life assets using the $NEO tokens.
