From Axie Infinity to Notcoin: The Play-to-Earn Revolution and Beyond

The world of cryptocurrency has seen a surge in innovative ways to earn digital assets. This article delves into the evolution of these earning mechanisms, from the play-to-earn phenomenon to the latest trends like move-to-earn and tap-to-earn.

2017: The Dawn of Play-to-Earn

The year 2017 marked the birth of the play-to-earn concept with games like CryptoKitties, where players collected and bred virtual cats. These early games laid the foundation for the play-to-earn revolution that would come later.


2020 - 2021: Axie Infinity Takes Center Stage

Axie Infinity, a monster-battling game built on the Ethereum blockchain, became a global phenomenon in 2021. Players collected, bred, and battled adorable creatures called Axies. These Axies could be sold for real-world money through cryptocurrencies, making Axie Infinity a viable source of income for many, particularly in developing countries.


2021-2022: A Golden Age for Play-to-Earn

Following Axie Infinity's success, a wave of new play-to-earn games flooded the market. Games like Decentraland (a virtual world where players can buy and develop land), The Sandbox (a metaverse game with a focus on user-generated content), and Splinterlands (a digital card game) all offered similar mechanics of earning crypto through gameplay. This period saw a surge in crypto adoption, with many new users entering the market to participate in these games.

The Evolution: Beyond Play

However, the play-to-earn model faced criticism due to its reliance on volatile crypto markets and concerns about game quality in some cases. This led to the exploration of alternative earning mechanisms:

• Move-to-Earn (2022): This model rewards users for physical activity tracked through wearable devices. STEPN, a popular example, uses the GMT token to incentivize walking and running. STEPN has gained significant traction, encouraging users to adopt healthier lifestyles while earning crypto.
• Tap-to-Earn (2023-2024): This emerging concept offers rewards for simple actions like tapping buttons in mobile games. A recent success story comes from Notcoin, a Telegram-based game where users tap to collect "SEED" tokens. While the long-term viability of such models remains to be seen, Notcoin's popularity highlights the potential of tap-to-earn for broader crypto accessibility.
• Play-to-Airdrop (2023-2024): Some games reward players with airdrops of new crypto tokens for participating in early stages of development. Catizen, a cat-themed mobile game, is an example. Players can earn airdrops of the CTZ token by interacting with the game during its pre-launch phase. The success of play-to-airdrop models will depend on the long-term value and utility of the airdropped tokens.

Impact: A Double-Edged Sword

These earning mechanisms have had a significant impact:

• On People: For some, play-to-earn and its evolution offered a chance to generate income, particularly in developing nations. However, concerns regarding exploitation in some games and unsustainable tokenomics (the structure of how crypto tokens are created, distributed, and burned) remain.
• On Crypto Community: The influx of new users increased crypto adoption and trading activity. However, the volatility of these games could negatively impact the overall crypto market sentiment.
• On Crypto Adoption: Play-to-earn and its evolution have broadened the appeal of cryptocurrency, showcasing its use cases beyond simple investment.

Looking Ahead: A Sustainable Future

The future of crypto earning opportunities likely lies in a combination of factors:

• Focus on Game Quality: Games will need to offer engaging gameplay alongside earning potential to retain players. Just earning money won't be enough.
• Sustainable Tokenomics: Earning models need to be balanced to avoid inflation (a decrease in purchasing power of a currency) and market crashes. This ensures the long-term viability of the crypto ecosystem within the game.
• Regulation: Clearer regulations will be crucial in ensuring the safety and stability of these new financial tools. This will help protect users from scams and fraud.