Having trouble understanding P2E terminology? Check out this glossary! P2E stands for 'Play to Earn' and it refers to a variety of video games, virtual worlds, and other applications. Players invest in these games and receive a return in crypto or other currencies as a result of playing. A few of the best-known examples of P2E gaming are Axie Infinity and Zedd Run. Coin Hunt World, GameFi, and other games reward players with Ethereum, Bitcoin, or other tokens as they play.

Rekt is slang for 'wrecked'

Originally used in the online gaming community,'rekt' can be interpreted as either ruined or destroyed. This term is now also commonly used to describe bad investment decisions in the crypto community. Moreover, rekt can be an idiom that is often associated with role-playing games. Among the most popular P2E RPGs are Ember Sword and Star Atlas.

The term has a long history and is largely used in gaming, texting, chat, and social media. It is a synonym of "wrecked" and can be used to describe being heavily beaten, destroyed, or extremely drunk. In recent months, 'toasted defeat' has also become a popular slang term. In October 2012, World of Warcraft user Balrogboogie coined the term.

NFT is a form of in-game currency

In P2E games, NFTs are a common way to purchase in-game assets, such as cosmetics. Players acquire NFTs by earning in-game items in the form of digital assets. These assets are proof of ownership that the player can sell in-game for native currency, or on a public marketplace for cryptocurrency. While traditional games will have in-game currencies, they are of no real value outside of the game's economy and are infinitely re-issued.

The concept behind NFT gaming is a simple one. It's an entirely new world and metaverse to explore. It's meant to be played in the open, and it's perfect for figuring out your own preferences. As a result, NFT is an ideal way to test out the new world. But how do you choose a P2E game? It's worth a look!

Rekt is a decentralized application

Rekt is a slang word that came about from the crypto community. Originally, it means "wrecked," "ruined," or otherwise "ruined." It's now commonly used to refer to bad investment decisions in the crypto community. The term also refers to role-playing games (RPGs) using the decentralized application model. Popular P2E RPGs include Ember Sword and Star Atlas.

In the P2E glossary, you can find other terms to describe these applications, as well. One example is "dApp," which means "distributed application." Decentralized applications are similar to websites, but they don't have a central authority. They use blockchains or smart contracts instead of a third party. They can be more flexible, too, since they use decentralized databases instead of a central database. Decentralized apps are also useful for financial applications.

Rekt is a reward pool

A reward pool is a portion of the tokens that players earn in a game. These tokens are distributed among players in a proportion that balances itself. The pool is refilled through sink features that require players to reinvest. In a P2E game, this mechanism is called a reward pool. A transaction signed anonymously only tells the sender who sent it, and requires a second signer to verify it.

GameFi is a hybrid term

In the P2E glossary, GameFi is a newer term that describes the incorporation of real financial elements in video games. It is different from DeFi in that GameFi agents make rational decisions based on fun, vanity, speculation, and economic outcomes. However, GameFi has many similarities with DeFi. This is an advantage for those who wish to integrate the technology into their games.

The development of GameFi has changed the crypto world. In 2021, it is estimated that 49% of blockchain gaming usage will be attributed to this industry. It is also estimated that 1.4 million unique active wallets will be involved in blockchain gaming. Moreover, the game industry is experiencing phenomenal growth thanks to VC investment, with a $4 billion valuation. The rise of NFTs accelerated the development of GameFi, with gaming NFTs accounting for over 20% of all NFT sales by 2021. It has led to a booming market for play-to-earn tokens.