How Can You Make Money With NFT Games?
People originally played games for fun. Everything was done to pass the time and for pleasure until rewards got infused in the games and got so large that they could even provide someone with a full-time income.
Today, those rewards have gained a massive run as they can come in cryptocurrencies of various sorts. The addition of NFTs to the mix has become a massive game-changer as we will discover soon.
As with every technology, we will be identifying the massive opportunities of the crypto games to users and the industry in general.
Overview of the NFT Gaming Industry
Cryptocurrencies are changing the world. The online gaming industry, in general, has had a massive bull run this year benefitting the most from it. This is largely due to the incorporation of the Play2Earn game model where users can get rewards and tokens that can be exchanged for real money.
According to Forbes, mobile games resulted in over $70 billion in revenue in 2020 with an upward 12% increase in players to 2.5 billion which shows no sign of coming down soon. In 2021, the number is projected to more than double to over $178 Billion.
While this is largely due to the Covid lockdowns in 2020, the infusion of crypto and NFTs have brought the most impact.
NFT games have become so popular because of what they offer. People are now able to make lots of money out of games that they normally play just for fun. Digital items found in a game like books, swords and cards etc can all be NFTs.
How To Make Money with NFT Crypto Games Today
As we already know, Crypto NFT games reward users with tokens and digital assets in NFT forms. They are generally called play-to-earn games as they enable players to earn tokens that can generate income for them. They can sell special wearable items or special utilities that they get for free or a lesser amount in the game for a huge amount of money.
The more value and passion people place on these items and tokens, the more the worth increases globally. The players invest time and money into the games.
Below are highlights of some of the most popular ways to earn money from crypto NFT games.
Earning In-game Tokens:
Most crypto NFT games are played to earn and reward users with these tokens that have the potential to yield monetary reward as it gains a massive following or use case. One of such blowout games for 2021 was Axie Infinity where players earned tokens known as small love portions.
The average Axie Infinity player earns about $500 per month just for gaming. Currently, one small love potion is worth approx $0.032.
Earning In-game NFTs:
In-game NFTs are another means of generating income through playing NFT games. Items usually vary in their worth based on their cosmetics, rarity, or utility based in the game.
The Axie NFT gotten in the game sells for an average of $270 affording more income as well. The demand for these NFT items in the games usually increases as more people keep joining and using the game.
These items and NFTs are finite and limited to drive scarcity and boost reward value. This simply means that one can make money by trading them for real money or building a brand around their special collections.
Most top gamers enjoy the benefit of having huge followings overtime in which they teach strategies to attain top game levels as well.
This is also an opportunity to be brand ambassadors for existing and upcoming games. The crypto and NFT space is driven by influencers and this has opened up a lot of opportunities for those in the gaming space who even stream their gameplays live.
Game Consulting Roles
Many top gamers have the direct opportunity to share experiences and the best feedback for gaming companies to improve on their products and get it better for others.
Game consulting is a massive role and a great earning opportunity to make huge money playing crypto NFT games.
The crypto NFT space thrives on community. This is one of the fastest ways to make money in the space as it can be a means to build influence and get associations with companies in the space.
Building communities serve as a well-targeted means of advertising and getting the right audience for their products.
Most Crypto NFT gamers have the opportunity to build personal brand giving strategies, engage with their fans and sell merchandise which can be digital as NFTs or physical.
Highlights of Major NFT Crypto Games
NFT crypto games make use of Blockchain technology for four purposes.
OWNERSHIP: used to prove ownership and history of ownership. A Blockchain is a distributed database that shows transactions that take place with the public. The Blockchain shows who owns a token and the token owned. This enables the public interested in buying the token to get a seller.
PROVABLE SCARCITY: the assets or tokens made available by the company are usually finite and constant. There would be a lot of people accessing the various NFT crypto games and the tokens made available will definitely not be sufficient for all and cannot be increased by the developers. This is where buying or leasing comes in for those that have acquired these assets earlier; which is a source of income.
IMMUTABLE AND UNEDITABLE: the content of the items that are given cannot be changed by anyone. They remain the same.
DECENTRALIZED: the Blockchain is not owned by a particular individual. It is a public digital database.
Below are some of the Crypto NFT games that have been successfully rewarding and engaging their users.
- Battle of Guardians,
- Idle Cyber
- Axie Infinity
- Sandbox 3D
- God’s Unchained
- Star Atlas
The Future Of Crypto NFT Games for 2022
The future looks bright for this space especially with the massive adoption of NFTs so far. Humans love leisure and play and with an opportunity to earn while doing that, it’s a dream come true for many!
There has been a lot of VC funding going into building the next best gaming project and a lot of new launches will be expected in the next year.
Aside from the earning potential, these virtual games offer a much more comprehensible entrance into the metaverse and the world of virtual reality.
Recently, Facebook founder Mark Zuckerberg announced the parent company name as META and shared some insights into the contribution they seek to make in rewarding creatives and bringing the metaverse to reality.
As the year draws down, Thetan Arena, Wolf game and Sheep Game are the crypto NFT games to gain momentum and we believe the space has a bright future in the coming year and beyond.