Metaverse 101 #6- What is Play to Earn
From Play- to -Earn system, what do you actually earned? Let us take you through the rewards!
The types of rewards
The rewards in The Sandbox can be roughly divided into four types:
SAND Pool Distribution- The most common reward, after the event ends, SAND tokens will be distributed evenly among participants based on their level of participation.
2. Mystery Boxes- Inside the mystery boxes, there will be various prizes of different sizes, such as LAND, SAND, NFTs, and more. The specific prizes contained in the box can be found in the rules and instructions for each event. Players can claim these boxes and open them to reveal random rewards.
3. NFT The NFT Assets in the XP that you played
4. Commemorative Badges or Pass- Commemorative badges serve as proof of participation in the event.
An account with KYC verification
If you want to participate in Play to Earn and claim these gameplay rewards, linking your wallet and completing KYC verification is the first step.
The KYC (Know Your Customer) process ensures that there is a real individual behind the account, verifying that the person is who they claim to be. According to current regulations, identity verification helps prevent activities such as using someone else’s identity for fraudulent purposes, using fake documents for illicit activities (such as money laundering or identity theft).
*How to link your wallet and complete KYC verification? Visit Metaverse 101 #1 — Getting Started in the Metaverse for instructions.
Once you have completed the verification, you can start working towards meeting the requirements to share in the prize pool based on the event’s criteria. Click on the “Events” on the left-hand side to view the current event prize pools.
Each event may have different participation requirements. Besides events that are open to all players, there are also some high-value rewards limited to LAND or specific Avatar holders.
If you wish to participate in an event and plan to become a holder of a specific Avatar, don’t forget to assess the number of participants, the total amount of SAND rewards, and the difficulty of meeting the event’s criteria before making a purchase.
Because some rewards are distributed through a “pool distribution” mechanism, the amount of SAND rewards you receive can vary depending on the number of participants. For example, Avatars with fewer buyers may receive more SAND rewards when the event criteria are met.
Of course, if you simply love the Avatar and want to own it, go ahead! There’s absolutely no problem with that!
In addition to evaluating the number of participants and the total prize pool, it’s crucial to pay special attention to the event rules.
Taking “May Festivities” as an example, when you click on the image and enter, you can see that the event runs from 05/11 to 06/12, and it requires an EP (Experiences) count of 5. This means that during this time frame, you can earn a reward of one May Mystery Box by completing 50 tasks within the specified Experiences.
*EP: The number of tasks within each Experiences, and you need to collect EP to meet the event’s criteria.
Most events only require completing specific Experiences tasks and reaching a specified EP count to meet the criteria for participating in the event’s prize pool.
To see which Experiences are included in a particular event, simply scroll down on the event page.
(Please note that at the time of creating this tutorial, all events have already concluded, which is why the images are not displayed.)
Finally, if you want to check what rewards you have received, you can click on the top-right corner to access the “Claim” page and view your rewards.
Hope this article help you to understand play to earn! Welcome to join PANGU Discord!