Play-to-Earn must be replaced with Play & Earn — says Polkastarter co-founder

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The world’s most pop­u­lar cryp­to launch­pad, Polka­s­tarter, has banned the term “Play-to-Earn” with­in its com­pa­nies. Instead, they want to focus on “Play & Earn” when talk­ing about Polka­s­tarter Gam­ing projects.

Polka­s­tarter co-Founder Daniel Stock­haus told Cryp­toSlate that play should come first, and then the oppor­tu­ni­ty to earn can go after­ward. He said:

“I don’t think it should be about earn­ing for click­ing with­in the game. For me, the poten­tial is that with the things you buy inside the game to enhance your meta­verse you should be able to extract them again when you leave that space.”

Polkastarter Gaming applications

Stock­haus recount­ed how Polka­s­tarter launched their first game in March 2021 before many were talk­ing about blockchain gam­ing. He said that at that time, calls with gam­ing projects were four times longer than calls for oth­er blockchain projects look­ing to join the launchpad.

After Axie Infin­i­ty launched, over 50% of appli­ca­tions to Polka­s­tarter became blockchain gam­ing projects. , Stock­haus said the major­i­ty of projects were com­pa­nies look­ing to take pop­u­lar app store games and “tok­enize” or “blockchainize” them, some­thing he described as “extreme­ly disheartening.”

Stock­haus believes that “blockchain is made for gam­ing” as the gov­er­nance is whol­ly inte­grat­ed into the game. He recant­ed how:

“95% of gam­ing projects suf­fer from their token util­i­ty… and not mak­ing enough effort to imple­ment it prop­er­ly… they put far too much away for earnings.”

This heavy focus on earn­ing caus­es an out­pour of tokens that dimin­ish­es the token price and makes play­ers unhap­py and unin­ter­est­ed when earn­ings are down, accord­ing to Stockhaus.

How to build a blockchain gaming projects

To get the token util­i­ty right, Stock­haus believes com­pa­nies need to “build the game from the ground up” with blockchain in mind, as “imple­ment­ing blockchain” in an exist­ing game  “is quite hard.”

He said that “Play & Earn” is impor­tant because if you are not inter­est­ed in earn­ing, it should be about the qual­i­ty of the game and the gam­ing experience.

Stock­haus argues that if a user puts a lot of time and effort into some­thing and pays for it, they are enti­tled to recoup their invest­ments when they fin­ish the game. He said that Game­Fi can’t suc­ceed with­out cater­ing to play­ers since there would be no one to play with­out them.

“If I know that if I buy an in-game item, I can sell it lat­er on then it’s a com­plete­ly dif­fer­ent experience.”

On the issue of whether devel­op­ers will make less mon­ey by allow­ing users to be com­pen­sat­ed for their invest­ments, Stock­haus believes there is a mis­con­cep­tion. He said:

“If you cre­ate an excel­lent econ­o­my around this and each trans­ac­tion gives a per­cent­age to the devel­op­er, I think there will be a huge econ­o­my with­in the games for peo­ple to trade and sell these items.”

Stock­haus argues that if users know that they will be able to sell some­thing they pur­chased in-game, they will join independently.

Play to Earn issues

Stock­haus believes that peo­ple should play a game because they like it, not because they want to earn mon­ey. He said:

“I get real­ly upset when I get the spiel that peo­ple think they can sell their games by giv­ing oppor­tu­ni­ties to those poor peo­ple in the devel­op­ing world, they can improve their lives. I don’t want to see a nation of gam­ing mak­ing a liv­ing by click­ing. That’s not pro­vid­ing val­ue that’s not cre­at­ing a good world or good economy.”

Play to Earn gam­ing indeed does have some sig­nif­i­cant issues when it comes to token util­i­ty. There needs to be a util­i­ty for the token oth­er than sim­ply sell­ing it for fiat if a com­pa­ny wants to cre­ate a game that can act as a dai­ly income stream for its players.

We live in a world where blockchain gam­ing tokens can­not be used to buy gro­ceries at the cor­ner store. There­fore, games that pro­mote play-to-earn must cre­ate high sell pres­sure on their token’s val­ue by default.

Stock­haus said games are not adding any val­ue to the world if gamers are sim­ply repet­i­tive­ly click­ing to gen­er­ate rev­enue. He said that such con­cepts are mere­ly cre­at­ing work for its sake.

Play & Earn comes across as a much clean­er approach to blockchain gam­ing since it allows users to recoup their invest­ment in a game that needs them to sur­vive and grow.

Many games strug­gle with user reten­tion beyond the first few months of launch. Per­haps a good Play & Earn mod­el could go some way to mit­i­gate this.

Sup­pose a user knows that any mon­ey they spend on a game can be recouped when they no longer want to play. In that case, lat­er on, you may be more like­ly to invest time into the endgame con­tent that cur­rent­ly is where devel­op­ers are struggling.

Fur­ther, tak­ing a per­cent­age of each trans­ac­tion is a mod­el that can yield vast returns. It is how most promi­nent cryp­to exchanges earn their income, so why can it not work for blockchain gaming?

Symbiosis

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