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The convergence of the video game and cryptocurrency worlds has given rise to an innovative phenomenon: Play-to-Earn (P2E). This model allows players to earn digital assets with real-world value, such as cryptocurrencies and NFTs, simply by having fun on their smartphones. In a context like Italy and Europe, where a passion for gaming meets a growing interest in financial innovation, this new frontier of gaming is attracting a wide and diverse audience. It’s no longer just about passing the time, but an opportunity to engage with the technologies of the future, turning gaming skills into potential earnings.
This guide is designed for those new to the world of crypto gaming. We will explain in a simple and direct way what “play to earn” means, how to take your first steps safely, and what the dynamics of this emerging market are. The goal is to provide the necessary tools to understand the opportunities and risks, combining the tradition of video game entertainment with the innovation brought by blockchain technology.
Play-to-Earn, or P2E, is a business model that is revolutionizing the video game industry. Unlike traditional games where in-game purchases are an expense, in P2E games, players can earn rewards with real economic value. This dynamic is made possible by blockchain technology, which allows for the creation and certification of ownership of unique digital items, known as Non-Fungible Tokens (NFTs). These NFTs can represent anything within the game: characters, weapons, virtual land, or costumes. Players thus become the true owners of their in-game assets and can trade or sell them on dedicated marketplaces.
The underlying concept is the “financialization” of gaming, a phenomenon known as GameFi, which combines the terms “game” and “finance.” Players are incentivized to participate and progress in the game through monetizable rewards. For example, by winning battles or completing missions, they can obtain game tokens, which are the native cryptocurrencies of that specific platform. These tokens can then be traded on cryptocurrency exchanges for other digital currencies or traditional money, like Euros or Dollars. In this way, the time and skill invested in the game translate into a potentially profitable activity.
Venturing into the world of Play-to-Earn games requires a few fundamental steps, but they are accessible even to those with no experience with cryptocurrencies. The first step is researching and choosing the right game, followed by setting up an essential tool for managing your earnings: a cryptocurrency wallet. Approaching these steps with care is crucial to ensure a safe and rewarding experience.
Choosing a game is the starting point. It’s important to evaluate not only the earning potential but also the quality of the gameplay and the project’s stability. A good P2E game should, first and foremost, be fun and engaging. It’s advisable to research the developers’ reputation and the vitality of the player community. Online forums and social networks are excellent places to gather opinions and strategies. Also, consider the genre you prefer: there are strategy games, collectible card games, RPGs, and battle royales. Some games may require an initial investment to purchase the first characters or NFT items, while others are free to play. Carefully evaluating these aspects will help you find the game that best aligns with your interests and means.
A cryptocurrency wallet is an indispensable tool: it’s a digital wallet where you will store your earned cryptocurrencies and NFTs. It functions like a bank account for your digital assets and allows you to interact with blockchain applications, including games. Among the most popular wallets compatible with most games based on Ethereum and other blockchains are MetaMask and Trust Wallet. Creating a wallet is a guided and relatively simple process. During setup, you will be given a “seed phrase” or recovery phrase, consisting of 12 or 24 words. It is critically important to write down this phrase and store it in a safe, offline location. Anyone with access to this phrase has complete control over your wallet.
Once you’ve created your wallet, the next step is to connect it to the game you’ve chosen. Most P2E games have a “Connect Wallet” option clearly visible on the home screen or in the settings. Selecting it will open an interface from your wallet (e.g., the MetaMask app) asking you to authorize the connection. This process is secure and allows the game to verify the NFTs you own and send rewards directly to your address. In some cases, you may need to purchase the game’s native tokens to get started. To do this, you’ll first need to add funds to your wallet, for example, by purchasing cryptocurrencies like Ethereum (ETH) on an exchange and then transferring them to your address. Once these steps are completed, you’ll be ready to start playing and earning.
The P2E gaming landscape is constantly evolving, with titles spanning different genres to satisfy every type of player. Although some names have become giants in the industry, new offerings are constantly emerging, especially for the mobile market. In this context, it’s useful to know some of the most well-known games to understand the different earning and gameplay mechanics.
A prime example is Axie Infinity, often compared to Pokémon for its mechanics of collecting, breeding, and battling creatures called Axies. Each Axie is a unique NFT, and players can earn tokens by winning battles or completing quests. Although it once required a significant initial investment, there are now more accessible ways to start. Other major titles include The Sandbox and Decentraland, two virtual worlds (or metaverses) where players can buy digital land as NFTs, build experiences, and monetize them. For those who prefer a more strategic experience, collectible card games like Gods Unchained allow players to truly own their cards and trade them, a model that combines skill and collecting. On the mobile front, apps that really pay, like mCrypto, are constantly emerging, offering a variety of mini-games to earn different cryptocurrencies.
Like any sector related to the world of cryptocurrencies, Play-to-Earn presents a duality of great opportunities and concrete risks. For a beginner, it’s essential to approach this world with a balanced mindset, understanding both the potential benefits and the pitfalls. Awareness is the first line of defense against unpleasant surprises and allows you to fully enjoy the gaming experience.
Among the main advantages is undoubtedly the true ownership of in-game assets. Thanks to NFTs, the items, characters, or land you earn or purchase are yours in every sense, and you can manage them freely. This opens up the potential for economic gain, turning a hobby into an activity that can generate income. Additionally, P2E games often boast very active and cohesive communities, offering a social and collaborative experience. On the other hand, the risks should not be underestimated. The volatility of the cryptocurrency market is the most significant factor: the value of earned tokens and NFTs can fluctuate drastically. There is also the risk of scams, unsustainable projects, or cyberattacks. Finally, it’s important to consider the tax aspect: earnings from crypto-assets are subject to specific tax regulations that you need to be aware of.
Addressing the topic of taxation is a crucial step for anyone getting into the world of Play-to-Earn in Italy. Earnings obtained from gaming, being in the form of cryptocurrencies or NFTs, fall under the tax regulations for crypto-assets. Ignoring these aspects can lead to legal consequences and penalties, so it’s essential to be properly informed. Italian legislation has evolved to include these new forms of income, establishing precise rules for their declaration.
According to Italian regulations updated with the 2023 Budget Law, capital gains realized from the sale or exchange of crypto-assets are subject to a 26% tax. This taxation applies if the total gains exceed the threshold of €2,000 in the fiscal year. The taxable event occurs when cryptocurrencies or NFTs are converted into fiat currency (like the Euro) or used to purchase goods and services. It is therefore essential to keep track of all transactions, including purchase costs and sales revenues, to correctly calculate any capital gains. For precise management and to avoid errors, it may be useful to rely on specialized platforms for crypto tax tracking or consult a professional. For a guide on how to maximize profits while also considering these aspects, it is advisable to delve deeper into market dynamics.
The Play-to-Earn phenomenon fits into a cultural context, like that of Italy and the Mediterranean, where gaming has always had a strong social and community value. The transition from card games at the bar or a game of soccer in the square to blockchain-based virtual worlds represents a fascinating evolution, a bridge between tradition and innovation. This new form of digital entertainment does not replace real-life interactions but extends them into a new dimension, where online communities become places for meeting and collaboration, similar to the town squares of the past.
Europe, and Italy in particular, is showing a growing interest in the GameFi sector. Although the market is still dominated by large international players, local startups and developers are emerging, trying to carve out a niche, perhaps by focusing on specific genres like strategy games. The adoption of these technologies is also driven by a widespread curiosity about new forms of alternative investment and income. The idea of being able to monetize a passion is a powerful concept that attracts people of all ages and professional backgrounds, combining the pleasure of gaming with the opportunity to explore the frontiers of decentralized finance in an accessible and direct way, right from their own smartphone.
Earning cryptocurrencies by playing on a smartphone represents one of the most interesting and dynamic frontiers of the digital world. As we have seen, the Play-to-Earn model combines video game entertainment with the opportunities offered by blockchain technology, allowing players to become true owners of their digital assets and to monetize the time and skill invested. For beginners, entering this sector requires an informed and cautious approach: it is essential to choose solid games, protect your cryptocurrency wallet with the utmost care, and be aware of market volatility and tax obligations.
The P2E landscape is constantly evolving, with new opportunities and challenges emerging regularly. In a context like Italy, where the culture of gaming is deeply rooted, this innovation has the potential to grow significantly. The invitation is to explore this world with curiosity, starting with small steps, prioritizing fun, and considering earnings as a pleasant bonus. By doing your own research and acting responsibly, Play-to-Earn can transform from a simple pastime into a fascinating gateway to the digital economy of the future.
Yes, it is possible to earn real rewards, usually in the form of cryptocurrencies or NFTs (Non-Fungible Tokens), by participating in so-called ‘play-to-earn’ games. These games, based on blockchain technology, allow players to obtain digital assets that have real-world value and can be traded on dedicated marketplaces. However, it’s important to remember that earnings are not guaranteed, and the amount depends on time, effort, and sometimes an initial investment.
Earnings vary enormously, and there is no single answer. Some players manage to generate an income comparable to a salary, especially in certain countries, while most users earn modest amounts, often just a few cents for long gaming sessions. The profit depends on the game, the rarity of the NFTs obtained, the fluctuations of the cryptocurrency market, and the time dedicated. It is difficult to predict an average earning due to the volatile and speculative nature of these assets.
It depends on the game. Some games are ‘free-to-play’ and allow you to start earning without an initial investment, such as ‘Gods Unchained’. Others, however, require the purchase of NFTs or tokens to start playing, as is the case with ‘Axie Infinity’, which requires the purchase of at least three creatures (Axies). Often, even in free games, you need a small amount of cryptocurrency to cover transaction fees (gas fees) on the blockchain.
To play play-to-earn games, it is essential to have a non-custodial crypto wallet, which gives you full control over your private keys and your funds. The choice of wallet depends on the blockchain the game is built on. The most popular and versatile, available as smartphone apps, are MetaMask (primarily for Ethereum and compatible networks) and Trust Wallet (which supports a wide range of blockchains). It is crucial to ensure that the chosen wallet is compatible with the game’s network.
The risks are numerous. The main one is market volatility: the value of earned cryptocurrencies and NFTs can plummet rapidly, wiping out profits. There is also the risk of scams and hacker attacks. Furthermore, some games require an initial investment that you may not be able to recover. Finally, you must consider the tax aspect: earnings from these activities may be subject to taxation, with regulations that are still evolving.