Preface

In the world of Web3, there is a field that constantly fluctuates between bull and bear markets yet never truly leaves the stage—that is, NFT Game / GameFi. The early days of Axie Infinity marked the first time people seriously believed that making money through gaming was possible. Even after experiencing bubbles and corrections, the concept of Play-to-Earn (P2E) remains etched in the memories of on-chain players and has inspired a variety of new gameplay models.

What is Play-to-Earn?

Play-to-Earn, as the name suggests, means earning resources / NFTs / tokens by playing games and converting those into money. In Web2 games, one might spend hundreds of hours completing stages and only earn a small amount of in-game currency or gear; but in Web3 games, players can turn their time investment into marketable assets:

• Tokens (can be traded)

• NFT items / characters (can be sold)

• Land, badges, equipment (can be rented)

Rather than simply saying that gaming can earn you money, it’s more accurate to say that Web3 games form an economic system where players own the assets, signifying a fundamental shift in game design logic.

Currently Popular Play-to-Earn NFT Games

Here is a list of currently active NFT games that feature P2E characteristics or asset-tokenization logic, for interested players to explore:

1. Big Time

• Type: Multiplayer Action RPG + Time Adventure
• Platform: PC
• Gameplay Highlight: Defeating monsters and completing quests drops NFT gear that can be traded
• Token Economy: $BIGTIME is the main resource/upgrading currency in-game
• Player Insight: Big Time is no longer focused solely on grinding for coins, but instead centers its ecosystem around the NFT gear market. Players can profit even without playing long hours by selling gear to merchants.

(Source:@playbigtime）

2. Illuvium

• Type: Open-world exploration + monster collection battles
• Platform: PC / Mobile support in the future
• Features: High-quality graphics, strong strategic gameplay, includes land systems and DAO governance
• Token: $ILV; land also produces resource NFTs
• Player Insight: Illuvium is one of the few projects combining AAA-level graphics, deep gameplay, and balanced tokenomics. It is considered a representative of the next evolution in GameFi.

(Source:@illuviumio)

3. Pixel

• Type: Pixel-style simulation + casual farming
• Platform: Browser
• Features: Real estate, crops, furniture, and NPCs can all be tokenized
• Token: $PIXEL; in-game actions generate rewards
• Player Insight: Once caused a surge in popularity after being listed on a major exchange. Ideal for casual players who enjoy farming and lifestyle games. The tokenomics is currently being gradually adjusted.

(Source:@pixels_online）

Traps of P2E

Many veteran players have experienced this GameFi operational model in past years:

1. Enter the game
2. Purchase a character
3. Earn resources
4. Sell to cash out
5. New players take the losses

This is the classic Ponzi P2E model—a variant known as Play to Exit. For today’s NFT games to survive long-term, they must meet the following criteria:

• The game must be fun enough to keep players engaged
• Assets must be scarce and useful—not just for cashing out
• Diverse player roles: farmer, warrior, merchant, builder… all with different earning paths
• Earning should not be the sole driver—it should be an added value

The players who truly make money are never the ones just mindlessly grinding; they’re the ones who understand the market rules, align with industry logic, and position themselves early.

Next Step in Game Economy Evolution

From Play-to-Earn to Play-and-Own, more and more projects are now saying:
“We are not P2E—we are Play-and-Own.” This means that earning money isn’t the goal, but players own what they earn. Through their efforts, these items can be owned, traded, and passed down. This is the real value of Web3 games: ownership and user sovereignty.

In Web2 games, the gear you farm after 10 hours belongs to the platform.
In Web3, that gear is your NFT—it can be traded, staked, or transferred.

Future developments may look like this:

• The more you play, the stronger your gear—rent it out for passive income

• Create your own maps or characters—get paid when others use them

• Make in-game music—earn royalties via on-chain copyright

• Become a DAO member in the game economy—participate in decisions & profit sharing

P2E is not just about earning money through gaming, but about building a player-centered economic system.

Conclusion

NFT Games are not just games, nor are they merely tools—they are the vessels that most effectively combine entertainment, creation, economy, and culture in the Web3 world. Not everyone will become a whale, but everyone can find their rightful place in this decentralized gaming universe.