In the midst of a hype-driven crypto bull, play-to earn (P2E), has seen a surge in popularity.
This industry has been able to benefit from its success, which managed to stay recession-proof through some of the most difficult economic times. The industry was able to continue to make billions, even when other businesses were insolvent. This ability to keep a constant stream of money seems to have spilled onto the P2E market.
This was true until the bull markets ended and crypto was facing the bear market.
Most of the losses have been suffered by P2E tokens since the market collapse. NFTs have also suffered, with their trading volumes plummeting. NFTs now earn less than they did in past months.
This created the need for another way to get NFTs earnings without having to rely on speculative trading. Cradles Blockchain Game is one of the first to offer a way for investors to make money from NFTs, without actually owning it.
Use NFTs to Stake Your Gameplay
NFT stakes are not a novel concept in blockchain gaming. Many games have implemented an NFT stake system that allows players passively to make money from their NFTs. The induced holding reduces trading volume and ensures that the NFTs remain valuable. This helps the holders to support the community they live in and encourages the development of the entire ecosystem.
Sandbox and Decentraland are three examples of good platforms that have adopted NFT stakes. Axie Infinity is an industry-wide success story. On the platform, players can collect, breed and fight each other.
This NFT staking scheme is not sustainable. The reason the gaming tokens became so popular was that they were launched in a bullish market that saw a lot of speculation buying. This model is dependent on a continuous influx in new players, who are willing to make large upfront investments by buying NFTs and investing time to get any decent amount. This is why it’s not surprising this model has suffered.
Tib Palin, CMO of the upcoming blockchain game Cradles: Origin of Species, explains this phenomenon, saying, “The model works well as long as there’s new money coming in from new players but that’s wholly unsustainable.” He further went on to add that “Some critics have labeled NFTs as game Ponzis, where new money is used to pay old participants, and they’re not entirely wrong. Enter the P2E game too late and you find yourself earning tokens and NFTs that are cheaper by the day in a bear market.”
What is the best way to avoid this vicious cycle of Ponzi-like Ponzi schemes and speculative purchasing? Cradles: Origin of Species has launched an entirely new staking system that enables players to ‘stake into NFTs’ without having to break the bank to purchase expensive NFTs for gameplay.
What Cradles Does for Earnings
Cradles introduced the new SIN program, which has been a huge gamechanger in gaming. SIN, which stands for “Staking Into NFTs,” allows users to earn by participating in their favorite gamer’s play. Cradles saw the need to change how play-2 earn economies were structured in order to make them more durable. SIN was founded out of that realization.
SIN leverages both the growing popularity of gaming streaming and the strong play-2-earn community, which has developed over the past year. This streaming model generates more revenue for gamers than any other market. Cradles exploits this opportunity by creating a truly metaverse MMORPG which rewards and encourages players to create a world for themselves.
SIN lets players stake into NFT weapons and artifacts that are already in the hands of another player. The stream attracts thousands of viewers because these skilled players are able to pull in thousands of people. However, the vast majority of the community does not have the skills or time to search for the weapon or artifact.
You don’t have to sacrifice hours of gaming just to locate the NFT. Instead, you can support a skilled player who has the NFT as they play. The conquest ends when the skillful player emerges victorious. All players who staked in their NFT share the rewards.
Cradles CEO T.Y. T.Y. Cradles CEO explains SIN.
“You don’t have to spend hours looking or trying to craft a super rare NFT weapon in Cradles. Passively backing a skillful player can be a better option than spending hours looking for that NFT. For example, you could stake CRDS (Cradles native token) into your favorite gamer’s ultra-rare weapon if you believe they would do well in a tournament or a hunting session. All CRDS stakers supporting the player will share any rewards they earn. That’s a great way to show your support for your fav idol and earn from that.”
It’s indeed a novel idea that will help players participate in gaming experiences without having to dedicate hours to find these weapons and artifacts themselves. Cradles is not a traditional P2E game that requires players to create and battle for tokens. Instead, it takes an innovative approach to making money from gaming. If all the focus is on breeding new items and breeding, then players will quickly become bored and want to move onto the next thing.
“It’s tempting to jump in like everyone else and push out a P2E type game of breeding and fighting for more tokens and rarer breeds,” Palin explains. “But if the core development focus is simply on creating new items and new breeds, players eventually have no motivation to go on playing or even contribute. In Cradles, we envision a community of gamers sold to the experience of a game world that they can have an active role in.”