3 Ways to Make Money with NFT Gaming

Make Money with NFT Gaming

There is a new cryptocurrency application that is thriving, notably in areas of Asia, and it is becoming more popular in other parts of the developing globe as well. Not only is “play-to-earn” a new source of income in which people may make real money by playing computer games, but it is also reshaping the cryptocurrency market by allowing investors to invest in a different category and for crypto holders to earn a yield on their investments. It’s establishing a three-way economy of wealth creation while also making it easier for anyone to get started in the cryptocurrency industry.

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But the proof of concept has been successful, and a flood of investment and new ventures is making its way into the mainstream. But there is still a long way to go until everything is smoothed out. At the Innovation Adoption Curve, we are currently in the “early adopters” phase. It’s an excellent opportunity to learn more about this emerging sector and how you can benefit from it in three ways. And the best part is that you don’t have to be a passionate player, nor do you have to be a crypto or NFT holder, in order to participate.

Play-to-earn (P2E)

According to Playtoearn.net, there are more than 800 blockchain-based video games that allow users to earn prizes in the form of bitcoin or non-fungible tokens. More than 200 of those are currently active. The majority of them went live during the previous few years, with the most popular P2E game, Axie Infinity, going live in March of this year. Since then, the company has been valued at $3 billion.

The hype surrounding these games began during the epidemic of 2020, when Axie Infinity published its governance token, AXS, on public markets for the first time. The demand was spurred by an increase of players, and Axie Infinity’s protocol income increased by a whopping 12,047 percent in just three months. Its income peaked in August of that year at $364.4 million, down from a high of just under $3 million in May of that year.

Axie Infinity is a fictional character created by author Sky Mavis. Sky According to Mavis, the game has reached a milestone of two million daily active users. According to Naavik, the bulk of players are concentrated in South-East Asia, with a further 10% concentrated in the United States and the remaining 20-25 percent distributed throughout Europe and Africa. However, there is one unique stumbling block for Axie Infinity players: you must purchase three Axie characters (NFTs) in order to be allowed to participate in the game and collect rewards. These NFTs are now fetching around $400 per piece, thereby pricing out a large number of potential players.

For example, if you want to play the game but don’t have $1,200 to spare, you could seek to participate in a scholarship program run by a guild. According to Loot To Yield, there are 23 guilds that invest in game NFTs and lend them to players at the time of publication. The proceeds are then divided between the guild and the player.

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So you’re not interested in participating in the game? You can still make money from P2E if you own NFTs and rent them out to guilds, which is how I do it. This is a relatively new trend that has emerged in the NFT area, but it is generating significant interest. Although there aren’t many guilds that provide this service, it’s likely to become popular in the same way that play-to-earn has.

According to a study by Stratis, 58% of 197 game creators from the United States and the United Kingdom stated they are beginning to employ blockchain technology, with 47 percent having already begun implementing non-financial tokens (NFTs) into their games. Within a short period of time, we may expect to witness more innovation in the NFT gaming arena, which will result in new revenue-generating potential.

Invest in NFT games and guilds

In the event that you do not wish to participate in the games and do not possess game NFTs, the third option is to directly invest in the games and guilds. There are a couple of various approaches you can use.

Before a company’s token is launched on a public exchange, there is typically a pre-sale round on Launchpad to raise funds for the project. When this occurs, the general public has the option to invest in the token at a pre-sale price, which is typically substantially lower than the price of the token on the initial exchange offering. As a result of the intense competition, you may not be guaranteed a specific allocation, and there are only a limited number of allocation amounts and vesting durations available.

Once they become publically available on an exchange, you may want to consider making an investment in them by acquiring them from the exchanges itself. Consider the differences between decentralized exchanges such as PancakeSswap and Uniswap, and centralized exchanges such as Binance or Kucoin.

The ability to stake your coins may also be dependent on how the token usefulness has been constructed. For example, if you purchase Axie Infinity’s AXS token, you can stake it and earn additional benefits. At the time of writing, the token is yielding an annual rate of return of 88%.

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Despite the fact that the blockchain gaming non-financial transaction (NFT) sector is expected to be valued just under $10 billion, it is a drop in the gaming world’s ocean, accounting for only 6% of the $173 billion gaming business (measured by revenue).

While we are at a critical juncture in the development of this new business, there is yet more to come within the current array of games, platforms, and non-traditional technologies. Furthermore, there will be even more opportunities as a result of new initiatives that are currently in development as well as those that have not yet commenced. It’s an exciting moment to keep an eye on things and become involved.