Play2Earn token only have value due to the community.
Currently I compare Axie Infinity versus Pegaxy because both have the scholarship functionality. However I know Axie Infinity have already 3 years old and PEgaxy only 2/3 months.
Axie was a pionier but it stucked in time and take to long to try to improve somethings and other projects started to study how they can "fix" tokenomics problem.
Pegaxy it is the most success case at least until now. However I have doubts about what will happen when one or two big guilds starts to cash out a lot of money.
RE: What gives play-to-earn game tokens value?