Play is typically associated with carefree or frivolous activity, yet Nietzsche makes surprising claims about the nature of play. He insists that playfulness is the appropriate attitude for addressing the challenges of human life, and he describes maturity as the ability to play seriously like children. To understand Nietzsche’s serious play, some have emphasized the affinity between play and fiction. Notably, Nadeem Hussain has offered a fictionalist interpretation, according to which nothing has value in itself and valuing resembles make-believe. I (...) hold that illusions and fictions misconstrue Nietzsche’s play and values. In this paper I argue that Nietzsche embraces play in the context of nihilism, which he considers the fundamental problem of modernity. Play ultimately proves central to Nietzsche’s strategy to avert nihilism. I explicate his comments on play, and I use the features of play to illuminate Nietzsche’s response to nihilism found in his enigmatic project of value creation. (shrink)