Best P2E Games

China Warns Citizens Against Blockchain

China Warns Citizens Against Blockchain

Game Review 

China Warns Its Citizens Against Playing Blockchain-Based P2E Games via Official State Media.

China’s offensive against crypto-related things continues and now it has warned its citizens via state television. The warning was displayed and conveyed via Chinese state television against taking part in the blockchain-based play to earn games like Farmers World.

China Warns Citizens Against Playing Blockchain-Based P2E Games
China Warns Citizens Against Playing Blockchain-Based P2E Games

This comes as yet another step against stringent rules against video games and anything related to crypto.

The warning came up on China Central Television (CCTV) with warning flashing which termed the P2E games as scams. Previously, China banned cryptocurrency trading as well as mining as Beijing viewed it as a threat to its financial stability.

Blockchain-Based P2E Games

The warning on CCTV pointed out two intermediaries in the provinces of Shannxi and Fujian. The intermediaries helped citizens to take part in the play to earn games especially Farmers World. The citizens were offered a chance to earn more than 10,000 yuan monthly.

The warning termed the offer as a scam and instructed citizens to stay away from it.

The P2E games are trending nowadays with plenty of new projects already getting a financial boost. The niche has witnessed billions of dollars in investment but it is also under strict scrutiny due to its increasing popularity.

Farmers World is one such game where intermediary companies paves way for users to earn money. They allow players to earn 100% of their investment back in just 22 and 40 days. But the catch here is that players need to pay 6,000 yuan as a service fee to the company to be able to do that.

China Warns Citizens Against Playing Blockchain-Based P2E Games
China Warns Citizens Against Playing Blockchain-Based P2E Games

Moreover, the company also takes a 20% commission on players’ returns.

This isn’t for the first time that such warnings surfaced in China. Previously, People Daily, another media house in China, also warned people of virtual land sales in P2E games. P2E games have such kind earning opportunities where it offers NFTs, virtual land, virtual art pieces, but the vitality and its prone to being a scam is high.

Moreover, the association of cryptocurrency with illegal money laundering and other black-market also makes it come under heavy scrutiny.

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China Warns Citizens Against Blockchain

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Anomura – Game Review

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Best P2E Games list 2024

China Warns Citizens Against Blockchain

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.