Bigger risk playing with NFT as collected or make NFT as investment assets, I think many people try to buy it just hype promo and we don't know later what happen with NFT still exist or not. How ever play to earn game right now many scam and just AXIE as play to earn game still paid but with lower value, all player just earn about 200 slp under 4$ and waste almost 3 until four hours to playing advantage and arena game. I miss from all NFT game and better investing with coin only than have buy NFT as collected or investment assets for the future.
You can consider PlaytoEarn like investment into crypto mining. Lots of factors will affect your investement in PlaytoEarn. Uncertainty of general market which does seriously affects token of PlaytoEarn projects.
Uncertainty about capability to develop projects, products and maintain good and sustainable tokenomics in-game. A good game in design does not result in a successful PlaytoEarn project because if it has unsustainable tokenomics, it will heart late investors. Early investors earn most and the later people join, the less rewards they can get but the bigger risk they have to take.