Scholarship/Scholar Definition
In the context of blockchain and cryptocurrency, a scholarship or scholar refers to a program or individual in the Play-to-Earn (P2E) gaming ecosystem. A scholarship program is a system where an individual or organization (the sponsor) lends their in-game assets or Non-Fungible Tokens (NFTs) to another player (the scholar) who may not have the resources to participate in the game. The scholar uses these assets to play the game and earn rewards, which are then split between the scholar and the sponsor according to an agreed-upon ratio.
Scholarship/Scholar Key Points
- A scholarship program is a system in the Play-to-Earn gaming ecosystem where in-game assets are lent to players who can’t afford them.
- The scholar is the player who receives and uses these assets to play the game and earn rewards.
- The rewards earned are split between the scholar and the sponsor according to a pre-agreed ratio.
- This system provides an opportunity for individuals who can’t afford the initial investment to participate in P2E games and earn income.
Who are the Scholars?
Scholars are players in the Play-to-Earn gaming ecosystem who receive in-game assets from sponsors through a scholarship program. These individuals typically do not have the financial means to purchase the necessary NFTs or in-game assets to participate in the game. They use the borrowed assets to play the game, earn rewards, and share a portion of these earnings with their sponsors.
What is the Purpose of a Scholarship Program?
The primary purpose of a scholarship program is to provide opportunities for individuals who can’t afford the initial investment required to participate in P2E games. It allows them to earn income by playing the game using borrowed assets. It also benefits the sponsors as they earn a portion of the rewards generated by the scholars.
When did Scholarship Programs Start?
Scholarship programs started gaining popularity with the rise of Play-to-Earn games, particularly with the success of games like Axie Infinity in 2020. These games require a significant initial investment to purchase in-game assets, which led to the creation of scholarship programs to enable more players to participate.
Where are Scholarship Programs Used?
Scholarship programs are primarily used in the Play-to-Earn gaming ecosystem. They are prevalent in games that require players to own NFTs or other in-game assets to participate.
Why are Scholarship Programs Important?
Scholarship programs are important as they democratize access to Play-to-Earn games. They enable individuals who can’t afford the initial investment to participate in these games and earn income. They also provide an additional income stream for sponsors, who earn a portion of the rewards generated by the scholars.
How do Scholarship Programs Work?
In a scholarship program, a sponsor lends their in-game assets or NFTs to a scholar. The scholar uses these assets to play the game and earn rewards. The rewards are then split between the scholar and the sponsor according to a pre-agreed ratio. The specific terms of the agreement, including the split ratio and the duration of the scholarship, can vary based on the agreement between the sponsor and the scholar.
