Play-to-Earn games on ETH: What's the catch?

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: tyz on November 26, 2021, 09:31:20 AM

Quote from: Abiky on November 19, 2021, 08:52:27 AM

Thoughts?

Such eth-based games will not catch on, in my opinion, as long as the architecture of Ethereum is as it is. Currently, you pay $7-10 for a simple Eth transaction, and up to $50 for a smart contract transaction. How will dynamic blockchain-based gaming be possible? Makes no sense.

Yes many got turned off on the ETH based games right now due to the huge network fee's deducted per transaction that's why there are so many shift to use other coin which has less fees like Wax,bnb and matic. Good thing for axie they create their own chain which require zero fee per transaction.

I do agree it make no sense for now so hopefully they address this issue since it really hurt to pay a huge amount just for a single transaction.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Abiky on November 26, 2021, 09:20:07 AM

That's what happens when a blockchain network becomes too popular in the mainstream world. Fees begin to rise like crazy due to high network load. BSC is already experiencing these effects, and it should only be a matter of time before the same happens to other competing chains. I can't imagine how games would run efficiently on a blockchain, especially when network capacity is limited.

It is hidden fact from new blockchains with technologies that claim to be more advanced. They are younger, and have less users than older chains. Their price is lower than old altcoins. Combine such things, we have cheaper transaction fees on new blockchains but in future, things can be different.

We see how Ethereum network gave much cheaper transaction fee in 2017 when Bitcoin network was congested. A few months later, Ethereum network was seriously congested and its problems even can not be resolved until today.

Since 2020, we have Binance Smart Chain that gave us amazing cheap fee but now it is no longer cheap. Their team are struggling to scale up their network and bring cheap fee back. Will they succeed?

Quote

They will bloat the underlying blockchain network, making it entirely useless. Unless scalability issues are solved, I don't see the concept of "Play-to-Earn" going anywhere. The hype will continue until a long-lasting bear market comes in. After that, everything might go down the drain.

Fee is the most painful factor for Play-to-Earn gamers. They are not afford to spend $20 to $50 per day as in-game fees. If gamers leave because of fee, games will be dead.

Quote

What matters is crypto/Blockchain tech's decentralization. As long as decentralization is prioritized, nothing else matters. Just my thoughts Grin

Agree with you. People was mislead from technology to what they can earn from hype, FOMO and maniac period in crypto market. They are different and it is repeated each 4 years when the crypto market has more newbies join and only think of gambling with their capital.

tyz

legendary

Activity: 3360

Merit: 1533

Quote from: Abiky on November 19, 2021, 08:52:27 AM

Thoughts?

Such eth-based games will not catch on, in my opinion, as long as the architecture of Ethereum is as it is. Currently, you pay $7-10 for a simple Eth transaction, and up to $50 for a smart contract transaction. How will dynamic blockchain-based gaming be possible? Makes no sense.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: hd49728 on November 24, 2021, 11:46:53 AM

Binance Smart Chain is no longer a chain that gives ultra low fee. It is lower than ERC-20 chain from Ethereum but it is no longer a chain for the poor. I used the poor because I want to remind the tweet from CZ. When he shilled BSC, he tweeted, Ethereum is for the rich and you will get poorer with ETH. BSC is for the poor and you will get richer with BSC.

Now BSC has more expensive gas price and very similar to ETH, CZ and Binance team can not handle it to bring the cheap fee back. It can come back if ETH and BNB price falls down and become cheaper. I don't think it is what we want. Fair enough, choose one in between: cheap fee or expensive price of ETH, BNB. I would like to choose the latter.

Polygon is promising and it is an alternative for developers to deploy their projects, games to it with bridges. It will help to save more transaction fee especially if you play blockchain games.

That's what happens when a blockchain network becomes too popular in the mainstream world. Fees begin to rise like crazy due to high network load. BSC is already experiencing these effects, and it should only be a matter of time before the same happens to other competing chains. I can't imagine how games would run efficiently on a blockchain, especially when network capacity is limited. They will bloat the underlying blockchain network, making it entirely useless. Unless scalability issues are solved, I don't see the concept of "Play-to-Earn" going anywhere. The hype will continue until a long-lasting bear market comes in. After that, everything might go down the drain.

What matters is crypto/Blockchain tech's decentralization. As long as decentralization is prioritized, nothing else matters. Just my thoughts Grin

Lonypink9

newbie

Activity: 182

Merit: 0

Quote from: gwdf1 on November 19, 2021, 08:58:19 AM

Personally I don't think that blockchain-games will fail. There are a lot of gamers who has playing computer games as a hobby so with the development of their logic and graphic, I think that there will be more and more gamers who want to play. As for money, usually, gamers earn money from other gamers when selling different things in games.

To be honest, they're disappointed many people (including me) and I do not believe about the Metaverse can be used for primary money source. Probably only less people can achieve and success, but most of them wouldn't since it's worthless.

Jawhead999

legendary

Activity: 1820

Merit: 1207

Quote from: zasad@ on November 24, 2021, 02:38:03 PM

I do not think so. Metaverse will evolve over the coming years.
If we talk about conspiracy theories, then most people who will remain unemployed in the future will be able to find new jobs in the metaverse.
And in 3-5 years, very fast blockchains will appear that can operate at a speed of up to 1,000,000 transactions per second.

Well Facebook has been developed Libra since 2019 and they claim to launch 2020, but the fact is still on development and they change the name from Libra to Diem. There's also a claim it will launch on 2021, but as I see it just full of plan only.

To be honest, they're disappointed many people (including me) and I do not believe about the Metaverse can be used for primary money source. Probably only less people can achieve and success, but most of them wouldn't since it's worthless.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

I do not think so. Metaverse will evolve over the coming years.
If we talk about conspiracy theories, then most people who will remain unemployed in the future will be able to find new jobs in the metaverse.
And in 3-5 years, very fast blockchains will appear that can operate at a speed of up to 1,000,000 transactions per second.

doomloop

hero member

Activity: 2408

Merit: 584

Quote from: hd49728 on November 24, 2021, 11:46:53 AM

Binance Smart Chain is no longer a chain that gives ultra low fee. It is lower than ERC-20 chain from Ethereum but it is no longer a chain for the poor. I used the poor because I want to remind the tweet from CZ. When he shilled BSC, he tweeted, Ethereum is for the rich and you will get poorer with ETH. BSC is for the poor and you will get richer with BSC.

Now BSC has more expensive gas price and very similar to ETH, CZ and Binance team can not handle it to bring the cheap fee back. It can come back if ETH and BNB price falls down and become cheaper. I don't think it is what we want. Fair enough, choose one in between: cheap fee or expensive price of ETH, BNB. I would like to choose the latter.

It was never really "ultra cheap" considering there are free networks out there that people could use if they want to. The problem here is that we should not be looking for something that is free, as long as it is "cheap enough" then we should also look for the quality of the projects in it.

ETH is amazing when it comes to projects in their network, but it is incredibly expensive, literally costs 100 dollars to approve a swap pair for example, whereas SOL is great for fees since it is totally free most of the time or maybe like a few cents at the very worst case I believe, but when it comes to projects in their network they suck and there aren't any proper projects there, sure there are a few but they all feel subpar compared to ETH and BNB. So this is why people pick BSC, it is not the cheapest and it is not the best, but it is the best you could find for that price.

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

Quote from: ahoenk on November 22, 2021, 07:23:28 AM

I dont think play to earn on eth is like 2017 ICO, its totaly different situation. 2017 ICO is just the project with no use cases proven and NFT play to earn is the project wich can be counted and the use cases is there and real.

There's a better use case for these NFTs than the ICO. Many have joined ICO and still many have joined the new craze for NFT. I think that assuming NFTs to fail is very normal when you've seen a massive hype and then the market starts to get crumpled later on due to the newbies that just invested without any proper knowledge. There were some use cases for the tokens that held ICO before and some of them are still alive until now. But it's just really different compared to the NFTs today.

maju69

full member

Activity: 1008

Merit: 104

Saying it failed completely, of course not. Maybe it's more about the hype that could be when the price is getting deeper and deeper, it will only reduce the popularity of the game. It doesn't affect gamers too much. Because they will really take advantage of this to produce more tokens in large quantities at low prices. So that collecting them at bearish times will be much more dominant in welcoming price increases in the future. IMO, that's not too sure either, as we don't interact with P2P games very often.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Abiky on November 24, 2021, 11:15:09 AM

That's certainly true, mate. Competing smart contract platforms like Binance Smart Chain and Polygon will experience greater adoption over the long term due to their ultra-low fees and blazing-fast speeds. NFTs and Play-to-Earn games are usually built on these chains because of the many benefits they provide. How long will they last will greatly depend on mainstream adoption. A long-lasting bear market will put most blockchain-based games up to the test, as there's a chance they'll become unprofitable. It's up to game developers to increase the reward in order to avoid gamers from moving on to the next big thing in crypto. If rewards remain the same during a bearish market, then what use will Play-to-Earn games have? Just my opinion

Binance Smart Chain is no longer a chain that gives ultra low fee. It is lower than ERC-20 chain from Ethereum but it is no longer a chain for the poor. I used the poor because I want to remind the tweet from CZ. When he shilled BSC, he tweeted, Ethereum is for the rich and you will get poorer with ETH. BSC is for the poor and you will get richer with BSC.

Now BSC has more expensive gas price and very similar to ETH, CZ and Binance team can not handle it to bring the cheap fee back. It can come back if ETH and BNB price falls down and become cheaper. I don't think it is what we want. Fair enough, choose one in between: cheap fee or expensive price of ETH, BNB. I would like to choose the latter.

Polygon is promising and it is an alternative for developers to deploy their projects, games to it with bridges. It will help to save more transaction fee especially if you play blockchain games.

pealr12

hero member

Activity: 1946

Merit: 502

Quote from: Abiky on November 19, 2021, 08:52:27 AM

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts? Huh

I really can't say how the gamers will sustain any play 2 earn game in eth blockchain but in other less expensive blockchains like polygon and bsc I think both the dev and the gamers will both enjoy earning because the fees are relatively cheap,
Isn't the revenue use to sustain the games are already allocated from the supply pool of the projects! Plus there are some in-game items that are sold and this may probably go back into the pool, this is just my thinking.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: cheezcarls on November 22, 2021, 07:28:31 AM

The growth of play-to-earn NFTs are unstoppable as of this point, so are those scammers. They mostly use Binance Smart Chain, Solana and Polygon network because of less transaction fees. ETH so far is very expensive and it will just lead to the devs moving to another blockchain.

That's certainly true, mate. Competing smart contract platforms like Binance Smart Chain and Polygon will experience greater adoption over the long term due to their ultra-low fees and blazing-fast speeds. NFTs and Play-to-Earn games are usually built on these chains because of the many benefits they provide. How long will they last will greatly depend on mainstream adoption. A long-lasting bear market will put most blockchain-based games up to the test, as there's a chance they'll become unprofitable. It's up to game developers to increase the reward in order to avoid gamers from moving on to the next big thing in crypto. If rewards remain the same during a bearish market, then what use will Play-to-Earn games have? Just my opinion

Ziskinberg

hero member

Activity: 3010

Merit: 666

Quote from: Cling18 on November 20, 2021, 10:35:21 AM

Blockchain games are on-trend these days but not all of them last and end up being successful because, to be honest, some gamers only want to take profit at the beginning which affects the whole gameplay. One of the common problems is balancing which is mostly caused by the oversupply of the farmed coins. If the developers would know how to control things appropriately, then the NFT could run in the long term.

It ends up shortly, that is what I thought. They are promoting P2E gaming platforms just to get attention and encourage gamers to play with them. This is obviously creating hype on the market as a strategy that is used to extract high demand giving way for the developers to gain profit from the said event. But, I don't think they will keep this becoming sustainable,and might have think that they will leave when they got reach their target already.

cheezcarls

hero member

Activity: 2282

Merit: 659

Looking for gigs

The growth of play-to-earn NFTs are unstoppable as of this point, so are those scammers. They mostly use Binance Smart Chain, Solana and Polygon network because of less transaction fees. ETH so far is very expensive and it will just lead to the devs moving to another blockchain.

ahoenk

hero member

Activity: 1246

Merit: 502

Quote from: Abiky on November 19, 2021, 08:52:27 AM

I see hype surrounding Play-to-Earn games (P2E) lately, just because it brings a new income stream to gamers. Many people are greedy, so they recur to blockchain-based games with the hopes of making big bucks in return. While P2E sounds promising, it's limited to the underlying blockchain network's capacity. I sometimes wonder what's the catch of games which "give away money for free", since fees on ETH are so high right now. How does the game generate revenue by itself? I suppose it's not out of thin air. We'll have to see how this will play out during an extended bearish market. Most probably, P2E will fail just like ICOs back in 2017.

Thoughts? Huh

I dont think play to earn on eth is like 2017 ICO, its totaly different situation. 2017 ICO is just the project with no use cases proven and NFT play to earn is the project wich can be counted and the use cases is there and real.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: mu_enrico on November 19, 2021, 11:29:09 AM

P2E is just a hype word promoted by those NFT & gaming companies. It lures youngsters who think "I can get rich from playing games." Just like gambling, you can win, but you can also lose money. It should be called risk games, money games, or soft gambling instead of play-to-earn Grin

However, even though the term P2E is a bit misleading, some games are rock solid playable games and you can actually make money (a bit contradictory with my previous statement tho). You know, you can call slots is a play-to-earn game as well, so this kind of games need 18+ and responsible gaming as well. It's not going to die like ICOs, but perhaps more regulated. Definitely not gonna successful with ETH, as it needs more capable network.

"P2E" is just a catch phrase. Companies wisely use the term in order to attract as much people into their games. We cannot tell whenever this will be a success or a failure in the long run, since the trend is just starting to blossom. Personally, I don't think this will work, since Blockchain has scalability issues. Eventually, games running on scalable networks like Binance Smart Chain and Solana will become sluggish as blockchain transaction capacity hits its maximum. Games will perform better on a centralized server than a decentralized blockchain network. But as long as there's money to be made, nothing else matters. Regulations will probably come in, as governments want a piece of the pie. I wonder if blockchain-based games will require KYC after governments regulate them? That would defeat the whole purpose of crypto/Blockchain tech. We'll see how this will turn out in the long run. Just my thoughts Grin

andeluna

jr. member

Activity: 238

Merit: 2

Play to earn games is not only in ethereum blockchain, lots of of NFT game developer is creating a cheap blockchain network like binance smart chain or BSC network, for me this the most cheap and not expensive network when it comes to P2E games lots of nft games is in a BSC network rightnow for example Cryptoblades, my defi pet, blockbank and cryptomines and so on.

UserU

hero member

Activity: 2128

Merit: 532

FREE passive income eBook @ tinyurl.com/PIA10

Quote from: Bttzed03 on November 20, 2021, 09:47:27 AM

Apart from tx fees and price volatility of the native/in-game token, that's the other catch especially for those who are just starting. It can become passive though because there are games like Axie which allows you to sponsor other players and do the daily grind for a share of the profit. Some game NFTs can be staked too.

Seeing the ridiculous amount on the scholars fee, damn I'd take a hard pass on that.

Cling18

full member

Activity: 1708

Merit: 126

Blockchain games are on-trend these days but not all of them last and end up being successful because, to be honest, some gamers only want to take profit at the beginning which affects the whole gameplay. One of the common problems is balancing which is mostly caused by the oversupply of the farmed coins. If the developers would know how to control things appropriately, then the NFT could run in the long term.

Topic: Play-to-Earn games on ETH: What's the catch? (Read 275 times)