The Rise of Play to Earn: How blockchain casinos are revolutionizing the gaming economy

The Play to Earn (P2E) concept has taken the gaming industry by storm, reshaping the way players engage with games. Rather than simply playing for fun, they can now convert in-game progress into real-world benefits, which adds a new dimension to how games are perceived. The total market cap of P2E tokens is $7.19 billion at the moment of writing.

Such an approach has made a real difference in the casino world, which used to be associated with pure luck. Equipped with blockchain, iGaming platforms like Fairspin provide guaranteed rakeback that lies at the backbone of a new reward system, creating an ever more immersive experience and broadening the earning potential.

The article focuses on what differentiates P2E games from traditional ones, the role of blockchain in ensuring their fairness, and what new developments to expect. Let’s explore how blockchain casinos are driving the Play to Earn revolution, changing the gaming economy and empowering players with new opportunities.

Play to Earn Explained

The Play to Earn concept was first implemented in video games, providing players with real-world value for in-game achievements. In such games, players are typically rewarded with crypto or NFTs (non-fungible tokens), representing unique digital assets holding tangible worth outside the game.

So, the core idea behind the P2E model is to reward players for the time and effort invested in games with something that has financial value. Blockchain technology has allowed developers to tokenize in-game items in video games, giving players digital ownership over the value they created by playing. Besides, it ensures transparency and fairness of results, as every game action and transaction is tamper-proof and verifiable on public ledgers.

Best P2E Games: Casino Approach

As for iGaming, the introduction of the P2E concept has allowed players to earn benefits regardless of the gaming outcome. For example, Fairspin players get a guaranteed percentage of their deposit back in the form of TFS rakeback. Rakeback size depends on the game type; for example, it is 0.2% for slots and 0.03% for instant win games. The more users play, the more rakeback is received, which accumulates into loyalty points. 

Loyalty points determine a player’s position in the 10-level loyalty program, with higher levels offering better rewards such as increased cashback and staking limit coefficient. Thus, the earned TFS can be staked within the platform for passive income, converted into game currencies to continue playing or traded on decentralized exchanges. Let’s take a closer look at how blockchain technology makes such games run smoothly, ensuring fair play.

Blockchain-Ensured Security and Fairness

Blockchain technology is critical to P2E games, ensuring transparency, fund safety, and fair reward distribution. All transactions are recorded on an immutable digital ledger, which means every game action or asset transaction is publicly verifiable and cannot be altered or manipulated. Besides, encryption protocols guarantee that assets are exchanged securely, protecting players from theft or hacking.

Any Fairspin player can quickly check their bets via Trueplay Explorer. All it takes is to copy their ID and paste it into the Explorer search bar. So, players can make sure all game outcomes are fair, which is paramount when it comes to tournament results and record winnings on the platform.

What’s Next for the P2E Ecosystem?

The Play-to-Earn gaming industry is set for a rapid advancement, with already a few trends on the horizon. We can soon expect the integration of even more sophisticated AI, enabling personalized gaming experiences, and the VR feature is about to become standard. 

Besides, the expansion of cross-platform economies will lead to a more interconnected and vibrant digital ecosystem where players can seamlessly transfer assets between the best Play to Earn games and platforms.

As for casinos, crypto online gambling is poised to gain traction, leading to broader adoption of blockchain technologies and related developments. For instance, Fairspin Casino is consistently expanding its gaming ecosystem. The platform’s loyalty and Play to Earn programs have seen steady growth, and the introduction of innovative staking options like Hold to Earn shows their dedication to evolving within the blockchain space.

Summing Up

The P2E model has created a major shift in the gaming landscape, from video games to casino products. The new approach transforms gaming into a more participatory and rewarding process, as players can financially benefit from their in-game activities, which leads to larger, player-driven economies. Blockchain casinos like Fairspin are at the forefront of this transformation, offering transparent and secure P2E experiences. 

Play to Earn has the potential to reshape not just gaming but the broader digital economy, integrating finance, entertainment, and digital ownership. Fairspin, with its blockchain foundation, is well-positioned to lead this evolution. Sign up now to explore the world of P2E gaming and other perks on offer!

Disclaimer: This is a paid post and should not be treated as news/advice.