Games were once strictly for entertainment, a fun distraction to pass the time. But now, for some, it has also become a source of revenue, with top players even earning a full-time income.
Cryptocurrency has revolutionized the gaming world. With NFTs and the play-to-earn game model, players can earn rewards that can be exchanged for real money.
One reason NFT games have become so popular is because of the digital items found in them, such as books, swords, cards, etc., which can all be NFTs. Other NFT games allow you to breed tradable characters, earn tokens for defeating challengers, and even own and sell virtual land.
Let’s get into some details about NFT games and how to earn money with them.
What are NFT Games?
Before investing in NFT games, you should know what NFTs actually are. NFT stands for non-fungible tokens. An NFT can be a collectible item, a virtual work of art, or even ownership of a real-world project. The key difference between an NFT and a regular cryptocurrency token is that each NFT is unique. Two bitcoin tokens are completely interchangeable. It doesn’t matter which one you own; they are both worth the same amount. Two NFTs can be similar, but they are never the same, and their values can differ greatly. Think of it as each NFT having a unique serial number, or certificate of authenticity.
NFTs have facilitated the process of forming a decentralized universe. In NFT games, NFTs can be characters, cards, maps, or any other in-game item. These in-game items have value in the market, and you can make money by selling those NFTs. The more rare the item, the more difficult to achieve, and the more passionate the players, the more their value increases.
How to Make Money with NFT Games?
NFT games also commonly incorporate their own crypto token that can be used for in-game purchases, to pay rewards, and to allow players to sell their game assets. These crypto tokens are typically what are exchanged for real money.
Here are a few popular ways to earn money from NFT games:
Earn In-Game Tokens.
As mentioned above, most NFT games reward users with tokens that have real-world value.
Earn In-game NFTs.
In-game NFTs are another means of earning money through NFT games. Items usually vary in value based on their appearance, rarity, or utility in the game.
Demand for in-game items usually increases, as more and more people join and use the games. These items are limited to drive scarcity and increase the value of the reward. This means that you can earn an income by exchanging them for money.
The NFT sector also thrives on community. This is a quick way to earn money, and can also help you build influence and connect with others in the industry.
Building communities helps developers find the right audience for their games and better understand their users’ needs and desires.
Most top gamers have the advantage of having a large fan following. They start teaching strategies to help other players. This is also an opportunity to become a brand ambassador for upcoming and existing games.
The gaming space is driven by influencers, this creates many opportunities, such as livestreaming gameplay, sponsorship and endorsements for top players.
Most gaming influencers also have the opportunity to create a personal brand and sell goods such as NFT artwork, game guides, hats, and t-shirts.
Many gamers share their experiences and provide feedback for gaming companies to improve their products and make them better for others. Game consulting is another great way to earn money from NFT games.
The Future of NFT Games
The future of the NFT space looks bright, especially given the massive adoption of NFTs so far. People love to relax and play. With the opportunity to earn money in the process, it’s like a dream come true for many.
A lot of funding has been raised to develop NFT gaming projects, and many new launches are expected in the coming year. These games also offer users an introduction to the metaverse and virtual reality.
Mark Zuckerberg, Facebook’s founder, recently announced the company is changing its name to META. He also shared that they planned to reward creatives and make the Metaverse a reality. Axie Infinity, Splinterlands and Thetan Arena are all NFT games that have gained huge momentum, one thing is for certain, the NFT gaming space is still in its infancy and the future holds a huge growth p[potential.