Play-to-Earn Games in July 2021: What Was Popular and Where They Stand

Play-to-earn, often shortened to P2E, describes blockchain games where players can earn tokens or NFTs through gameplay. Those assets can usually be sold on open markets, which is the main difference from traditional games where in-game items stay inside the game.

In 2021 the model spread quickly. Many projects used a game economy built on two kinds of tokens: a reward token that players earned through daily play, and a governance or utility token that controlled breeding, upgrades or land. Players often needed to buy an NFT before they could start, so entry costs were part of the design from the beginning.

The idea drew interest from players in regions where in-game earnings seemed meaningful, and from investors who saw the token economy as a new asset class. That mix of gaming and speculation is important context. The earnings were tied to token prices and to the continued arrival of new players, not only to skill or time spent.

To understand any game from that period, ask three questions. What does the player need to buy to start? Where do the rewards come from? And who is paying for those rewards over time? The answers explain most of what happened next.

Lists from mid-2021 tended to feature a similar group of titles. Axie Infinity was the most cited example. It used a sidechain, paid rewards in a smooth love potion token called SLP, and sold breeding-based creature NFTs. Its growth made the genre visible to a wide audience.

Other names that appeared often in the period included Alien Worlds, a community-built metaverse on the WAX chain that paid its TLM token for mining and play, and The Sandbox, a virtual world with land NFTs and the SAND token. Decentraland, which uses MANA, was often grouped with it as an early virtual land project. Splinterlands, a card battler, and Gods Unchained, a trading card game, were also widely discussed.

Some of these games were early in their categories, and some were talked about mainly because their token prices were rising. Being on a list at that time did not mean a game would be well built, well audited or sustainable.

If you come across a 2021 list today, use it to find names, then research each one separately. The list itself does not tell you whether a game still has players, a working economy or a responsible team.

Most play-to-earn games used some combination of four reward streams.

• Daily play rewards, paid in a game token for completing battles, quests or tasks.
• Breeding or crafting, where players combined NFTs to create new assets that could be sold.
• Land or property, where owning virtual plots allowed rental, building or resource generation.
• Staking, where holding a token earned a share of fees or new issuance.

Each stream had costs. Players paid entry fees for NFTs, gas or transaction costs on the chain, and sometimes in-game fees for upgrades. When rewards were mostly paid from new deposits by incoming players, the system depended on continued growth. When rewards came from a fixed pool, the pool could run down.

A simple way to evaluate a model is to compare the total cost of starting and maintaining your assets with the realistic earnings you could expect after fees and price swings. Include the time you spend playing, since time is also a cost. If the numbers only work when the token price rises, the model carries more risk than it appears.

Many games from 2021 saw sharp drops in player numbers and token values during later market downturns. Several reasons combined.

First, reward tokens often inflated faster than players could use them. When more tokens were issued than the game could absorb, prices fell and earnings shrank in real terms.

Second, entry costs rose. As NFT prices climbed, new players faced higher barriers, which slowed recruitment. Existing players who had bought at high prices were left with assets worth far less.

Third, many projects were built around hype rather than fun. When the earnings were the main reason to play, players left once rewards dropped, and the game had little to hold them.

Fourth, some teams changed direction, paused development or stopped publishing updates. Because blockchain games depend on ongoing development and on the economic design of the token, a quiet team is often a warning sign.

The lesson is not that every game failed. It is that a game's long-term health depends on gameplay quality, a sustainable reward design and an active community, and that these factors need to be checked over time.

A July 2021 game is not automatically closed, and it is not automatically a good choice today. Status varies from title to title. Some remain running with active communities, some have changed their token model or moved to new chains, and some have stopped updating.

Public reporting that informed this guide include later lists from 2022 to 2025 that still mention Alien Worlds, The Sandbox, Gods Unchained and Axie Infinity among notable play-to-earn titles. Being mentioned in a later list does not confirm a game is healthy, so use the checks below.

Remember that market data, token prices, total value locked and player counts change constantly. This guide does not give current figures because they would be out of date quickly. Use a public block explorer for on-chain activity, a token tracker for price and supply history, and the project's official blog or social channels for announcements.

If a game has changed its token, chain or tokenomics since 2021, read the migration notice carefully. Old tokens and new ones are often different assets, and the terms may affect what you own.

Use this checklist before you spend time or money on any blockchain game.

1. Confirm the official website and social accounts by comparing them with several independent sources, not just one search result.
2. Check the date of the most recent update, patch notes and developer posts.
3. Look at whether the game playable, with a working client or app and an active player base.
4. Review the token supply, emission schedule and where rewards come from.
5. Read the project's documentation on fees, staking and game economics.
6. Check whether the smart contracts have been audited, and by whom, and whether the audit report is publicly available.
7. Look at the team's public track record, including whether they have explained past changes.
8. Compare the total cost of entry with what you could realistically earn after fees and price changes.

If several of these checks come back unclear, treat the project as high risk. A missing audit does not prove a scam, but it means you have fewer independent checks on the code. Some projects in the research stage have very low on-chain activity and no listed audits, which is a reason to wait and watch before committing funds.

The main risks fall into several groups.

• Price risk: reward and governance tokens can lose most of their value quickly.
• Smart contract risk: bugs or exploits can lock or drain assets.
• Scam risk: fake websites, fake support accounts, impersonation on social media and fraudulent token launches are common.
• Platform risk: a game can close, change its rules or move to a different chain.
• Liquidity risk: you may not find a buyer at the price you expect.

For wallet safety, keep your recovery phrase offline and never type it into a website or give it to anyone. Use a separate wallet for games if you can, and keep only the funds you need for play there. Review token approvals on a reputable approval-management tool and revoke permissions you no longer use. Avoid clicking links from direct messages or unsolicited posts, even if they look like official announcements.

If you suspect a compromise, move remaining assets to a new wallet you control, stop approving transactions from the affected site, and report the incident to the project through its verified channels.

Whether a game counts as gambling depends on its mechanics and the law where you live. Some games are purely about play and collecting. Others include random reward boxes, paid chance-based items or tokens that can be cashed out, which may fall under gambling rules in some places.

Gambling laws differ widely between countries, states and regions, and some places restrict crypto-based activities altogether. Before playing, check the rules in your jurisdiction and confirm the minimum age for the game and any linked platform, which is commonly 18 or older for games that involve real-value tokens.

If you find that gaming or trading has become a source of stress or financial strain, consider stopping and seeking support from a local gambling helpline or a trusted person. Set a fixed budget in advance and treat any earnings as a bonus rather than income. Do not use a VPN or any other method to get around geographic restrictions, age checks or identity verification, because that can breach terms and local law.

Several newer projects are worth researching, though none should be treated as a recommendation.

• Immutable-based games: ImmutableX is a web3 gaming platform on Ethereum, with its IMX token covering fees, staking and governance. Check which games run on its network and whether they are active.
• Aavegotchi: a collectible game with the GHST token that started with DeFi staking and is now moving to Base. Look at its migration notes and current player activity.
• Big Time: a free-to-play action RPG for Windows PCs with NFT collectibles and a BIGTIME token. Its gameplay can be evaluated separately from its token.
• Warp: a GameFi project with NFT starships that earn daily credits across several chains. Compare its reward structure with the time and cost required.
• The Sandbox: a virtual world on Polygon and Ethereum with SAND and creator tools, which may be more relevant if you are interested in building than in earning.

When comparing options, prioritize games you would still want to play if the token had no value. Then check the current chain, the audit status and the activity levels on the official channels.