How to make money with NFT-based online games
What is NFT-based online games
Video games that use non-fungible tokens (NFTs) in their gameplay or economies are referred to as NFT-based online games. Because they are one-of-a-kind digital assets that are confirmed on a blockchain, NFTs are valuable and scarce. As they advance in NFT-based games, players can acquire, accumulate, trade, and sell NFTs.
For instance, a game can have uncommon in-game objects that players can buy or find while playing that are NFTs. Players can then make money from their gaming activities by trading or selling these products on blockchain marketplaces for cryptocurrencies.
NFT-based games have grown in popularity over the past few years as a result of the development of blockchain technology and the rising demand for digital collectibles and ownership.
The history of NFT-based online games
Online games that use NFTs are a relatively new idea, and their development has been closely correlated with the growth of blockchain technology.
Most people agree that CryptoKitties, which debuted on the Ethereum blockchain in 2017, was the first NFT-based game. With CryptoKitties, users could acquire and breed one-of-a-kind digital cats that were represented on the blockchain as NFTs.
Numerous new NFT-based games have been created in the wake of CryptoKitties’ success. While some of these games emphasize collecting, others actually use NFTs as part of the gameplay.
For instance, in the game Axie Infinity, players can engage in combat with and gather “Axies,” which are NFT-based animals. By winning battles and reselling their Axies on the market, players can earn cryptocurrency.
Other NFT-based games include Gods Unchained, a trading card game where each card is an NFT, and The Sandbox, which lets users buy and sell virtual properties represented by NFTs.
Overall, NFT-based online games are still in their infancy, but as more people show interest in blockchain technology and the concept of digital ownership, their popularity is rising quickly.
How to make money with NFT-based online games
There are several ways to make money with NFT-based online games:
- Play to win: Some NFT-based games let users win virtual currency or other benefits just by taking part in the game. For instance, in the game Axie Infinity, winning battles and completing missions will net you money.
- Trading NFTs: In many NFT-based games, players have the opportunity to gather or buy valuable NFTs that may later be traded for cryptocurrencies or fiat money on blockchain marketplaces. For instance, certain unique cats from the video game CryptoKitties have sold for tens of thousands of dollars.
- Game Development: In some NFT-based games, players can receive prizes for helping to make the game better. For instance, in The Sandbox, players can gain the in-game cash by making and selling virtual goods that can be utilized in the game, such as houses or decorations.
- Streaming and material Production: Some NFT-based game players get income by streaming or producing material for these games. Ads, sponsorships, or viewer donations may bring in money for them.
In general, winning at online games based on NFT needs a mix of ability, strategy, and luck. It’s possible for players who are committed to the game and have a solid grasp of the NFT market to make a sizable profit, but it’s vital to keep in mind that there are hazards involved, including the volatility of cryptocurrency prices and the possibility for scams or fraud.
Is playing NFT-based games profitable
Playing NFT-based games can be profitable, but it’s important to understand that there are risks involved, and not all players will make a profit.
Overall, playing NFT-based games can be profitable for some players, but it’s important to approach these games with caution and understand the risks involved. It’s also important to remember that the primary goal of playing these games should be to have fun and enjoy the gameplay, not solely to make a profit.
The most popular NFT-based online games
There are several popular NFT-based online games, each with their own unique gameplay and features. Here are some of the most popular ones:
- Axie Infinity: Axie Infinity is a blockchain-based game that enables users to gather and engage in combat with a variety of “Axies” (creatures). Players can get cryptocurrency by winning battles and completing objectives. Each Axie is represented as an NFT.
- One of the earliest NFT-based games, CryptoKitties, allows users to acquire and breed distinctive digital cats that are represented as NFTs on the blockchain.
- Players can buy and sell virtual land represented by NFTs in the virtual world known as The Sandbox.
- Gods Unchained: Each card in the trading card game Gods Unchained is a non-flip card. On blockchain markets, users can purchase and sell cards that they can use to compete against other players.
- Decentraland is a virtual environment where users can purchase and trade NFTs, which are representations of virtual land. In the virtual world, users can make and share their own experiences, games, and applications.
These are just a few examples of the many NFT-based games that are available. As blockchain technology continues to develop and gain popularity, it’s likely that we’ll see even more innovative and exciting NFT-based games in the future.