Welcome to our guide to getting and using a P2E token. If you know anything about online gaming, you’ll have seen the P2E acronym everywhere in recent years. Unfortunately, there is plenty of misinformation about what this kind of token or P2E coin is on the internet. So we thought that we’d give you this quick and easy guide to understanding the P2E token revolution.
What is a P2E token?
A P2E token is what you get in return for you playing a P2E game. These tokens are a key part of play to earn games where you get rewards that potentially have a real world monetary value.
We’ve got a comprehensive article that discusses the P2E meaning in greater depth here, but it’s basically a new model of gaming that rewards the gamer, rather than the gamer purchasing a game. Just to clarify things, we’re not talking about the Plant2Earn token here.
A P2E token will normally come in the form of a non-fungible token (NFT). This is a unique piece of data that is created and stored on a cryptocurrency blockchain. The token can come in the form of any digital information such as an avatar, a weapon or even a video. There’s another in-depth guide to understanding what a P2E NFT is here.
How much is a P2E token worth?
A P2E token has no specific worth as its value is entirely based on demand. So if nobody else in the world wants your P2E coin, then it is completely without value. However, if lots of people want your P2E token, then you’ll find that it is a valuable asset. We’ve already seen NFTs of digital artwork being sold for millions of dollars, and there’s no reason why the same couldn’t happen for a P2E coin.
Where can I get a P2E coin?
P2E coins are usually found in crypto games. These are a new generation of online games whereby the player is given tokens or coins as a result of their gameplay. Such games can range from cute Pokemon-style games like Axie Infinity to some iconic fighting games such as Battle of Guardians.
Taking a look at Axie Infinity, you’ll see that there are actually two different kinds of P2E tokens in this game. There’s the basic AXS governance token that regulates how the game works and then the Smooth Love Potion which is what is used to reward winning players and generate new Axies.
What can I do with a P2E coin?
It’s entirely your choice. You could decide to hold onto it and hope that its value rises as it becomes more sought-after. The alternative is to go to one of the many NFT marketplaces and sell your token or trade them for other digital items. Just remember to factor in those service fees for all of the times that you carry out transactions with your P2E tokens as they can add up over the long term.