In NFT games, in-game assets are wholly owned by the players—not the game’s developer. These gaming-based NFTs may include characters, plots of virtual land, weapons, and so on. They can be used inside blockchain games to earn yield in the form of tokens or other rewards, which can be used in-game or traded on an open market for other cryptocurrencies or fiat money.

In decentralized game economies, there is an entire ecosystem of players who buy, sell, and trade in-game items between each other. They are able to do this because NFTs and cryptocurrencies provide the players with digital property rights for their in-game assets. Thus, the players actually become part-owners in the game and get to share in the value that the community creates.

It varies from game to game. Players can start with as little as US$20 in some games and upwards to US$1000 in the more expensive games.

Gaming guilds are organizations of gamers and investors interested in web3 gaming who have collectively amassed a vault of gaming NFTs. Guilds often rent or loan these gaming NFTs through “scholarships” to community members who use these NFTs to play web3 games.

P2Earn is a gaming guild that facilitates players around the world to earn crypto-based rewards in play-to-earn games.

Some players in the Philippines and other developing nations have been able to earn two to three times the local minimum salary by playing the play-to-earn game Axie Infinity.

Many people play NFT games to supplement their income.

A mobile device or laptop/PC, internet connection, crypto wallet, and the NFT asset required to play the NFT game.