Blockchain games have revolutionized the gaming landscape by introducing the Play-to-Earn (P2E) model, and recent developments have brought new subcategories to the P2E model, introducing the Run-to-Earn (R2E) concept. With the increasing popularity of blockchain games and their unique reward systems, the industry has seen a surge in the number of online games featuring P2E and R2E models. While P2E rewards have become mainstream, R2E competitions have created a new level of community building through engagement in the Metaverse.
Runiverse is a new metaverse gaming platform pioneering the R2E experience, allowing players to race against each other and use real-time market performance from Binance to determine their speed. By leveraging blockchain gaming infrastructure, Runiverse’s R2E experience offers players the opportunity to earn rewards for participating in social competition, combining blockchain gaming and crypto knowledge. Additionally, Runiverse functions as a marketplace for gamified NFTs, adding an extra layer of engagement to the platform.
Play-To-Earn(P2E) vs. Run-To-Earn(R2E)
While P2E and R2E models share similar characteristics, they have some key differences. The P2E model incentivizes players to earn cryptocurrencies by performing in-game tasks, while the R2E model leverages the competitive nature of gaming to encourage community building and social competition. This approach expands the target audience and strengthens the brand by introducing new forms of interactions with consumers through engagement in the Metaverse.
Psychologists have known for decades that rewards, achievement, and competition fuel motivation. R2E competitions expand on this idea by allowing users to join communities and compete against each other to ascend the rankings, incentivizing users to interact with each other and build the social aspect by bridging the crypto community and gaming community.
Scaling NFT Marketplace With Social Competition Game
The use of Non-Fungible Tokens (NFTs) in games has created new opportunities for gamers and developers alike. In 2021, the total value of NFT sales in the gaming industry reached over $350 million and as the market for gaming NFTs continues to grow, more and more businesses are looking for ways to scale their platforms. One strategy that is gaining traction is the use of social competition to incentivize engagement and growth.
Platforms can organize various types of social competitions to scale their NFT marketplaces, such as leaderboard challenges, creative contests, in-game missions, and treasure hunts. By participating in these competitions, gamers can earn exclusive NFTs, gain recognition within the community, and enjoy a more immersive gaming experience, truly building engagement in the Metaverse.
On Runiverse, players can earn rewards by holding Player Skins and Running Tracks NFTs. Each time other players use their NFTs during a race, the holder earns a 6% reward from the prize pool, adding an extra layer of player involvement. This innovative approach to scaling a gaming NFT marketplace not only increases user engagement but also creates a unique and exciting ecosystem that keeps interaction between gamers and the platform.
Building Engagement in the Metaverse
As the development of blockchain gaming continues to evolve, we can expect to see more new forms of Gamefi, where players can gain rewards through their skills, and publishers can earn from various forms of advertising, assets, and a new marketplace to explore, allowing users to interact with each other and build a community that elevates the experience from traditional gaming. We can expect to see more innovative ways to incentivize players and engage with communities in the Metaverse. The R2E model is just the beginning of what promises to be an exciting future for Runiverse’s contribution to the expansion of blockchain gaming. This holds the promise of incentives through engagement in the Metaverse.