Scholarship/Scholar Definition
In the context of crypto and blockchain, a Scholarship or Scholar refers to a beneficiary of an organization’s funded program to play profitable blockchain games. Primarily used in the world of Play-to-Earn (P2E) games, scholars are provided with in-game assets to use and earn from, usually in a profit-sharing agreement with the organization.
Scholarship/Scholar Key Points
- Scholarships in crypto typically pertain to play-to-earn gaming opportunities.
- Scholars are provided with digital assets to start gaming without upfront cost.
- Profits are shared between the scholar and the scholarship provider.
- Common in games like Axie Infinity, where gaming assets are often prohibitively expensive to acquire initially.
What is a Scholarship/Scholar?
A Scholarship/Scholar in the crypto space refers to a form of collaboration where a funder (often a wealthy cryptocurrency owner or a crypto guild) provides digital assets to a player, or “scholar,” to participate in a blockchain-based game. The idea here is to offer opportunities for individuals who cannot afford the initial investment to play these games.
Why Are Scholarships Provided?
Scholarships are provided to enable individuals without the means to acquire costly upfront digital assets the chance to participate in play-to-earn games. The scholarship holder benefits from the scholar’s gameplay and earnings, establishing a mutually beneficial relationship. The hope is that the scholar can eventually earn enough to independently acquire their gaming assets.
Where Are Crypto Scholarships Used?
The phenomenon of crypto scholarships is prevalent in blockchain games—most notably, Axie Infinity. Here, gaming assets like digital pets (Axies) can be prohibitively expensive for some, but are essential to play the game and earn cryptocurrency.
Who Provides Crypto Scholarships?
Crypto scholarships are usually provided by affluent crypto holders, blockchain game enthusiasts, crypto guilds, and even some organizations. They utilize their wealth to create opportunities for those unable to afford the startup costs associated with play-to-earn gaming.
When Did Crypto Scholarships Start?
The concept of crypto scholarships started gaining traction in mid-2021, especially with the rise of Axie Infinity. The success these scholarships brought led to the trend catching on across the crypto gaming space.
How Do Crypto Scholarships Work?
Crypto scholarships work by a sponsor providing a gamer with blockchain-based game assets. These assets allow the scholar to participate in the game and start earning. Profits are then split between the scholarship provider and the scholar under agreed-upon conditions, allowing both to benefit.
