30. Blockchain and NFT games – how to make money on them?
Blockchain is a multifunctional tool that gives us many possibilities. No wonder that the biggest computer game developers are starting to use this solution. Implementation benefits Blockchain and NFT both creators and players have. What? We will discuss this in today’s lesson.
Blockchain – definition
In other words, blockchain is a form of a digital book. It allows you to send and store transactions. Information about them is recorded using blocks that follow each other. We wrote about what blockchain is and how it works here.
Play-to-win vs play-to-earn
The above division still operates in the gaming industry. How do they differ from each other?
- Play-to-win – centralized gaming model. The data of players, their games, and winnings are stored on servers wholly controlled by the producers of the titles concerned. Players are required to purchase items that boost their character. They do not have full control over their account or game character.
- Play-to-earn – a model that is becoming more and more popular. Thanks to full decentralization, the player has authority over the character and their account. What’s more – the games provide him with an inflow of digital money for the game, which can later be exchanged for normal cash. Such platforms and blockchain games are gaining popularity.
Play to earn
Blockchain games are still in the early stages of connecting games with cryptocurrencies. As it happens, there are good and bad projects on the market that are worth paying attention to.
Before you start your adventure with a given platform, check who is behind the title and what they want from the players. Pay attention to tokenomics – the supply of tokens, when and how they are issued, what encourages players to own them and how you can get them.
Beware of titles that have an unlimited supply of tokens.
What’s more, at the very beginning of your adventure with a given game, avoid major investments. Don’t over-buy skins or items that will boost your character. We know blockchain games are exciting and addictive, but use common sense.
If you value good fun that you can combine with earning, take a look at the titles that we presented to you in the paragraph below.
Play to earn games – benefits for players
In short – there are many. In addition to the pleasure of the gameplay itself, the player has virtual assets, such as NFT, that have real value in the real world. He receives tokens for completing tasks, games, or even having collectibles, which he can later exchange.
In the model, play to earn it is the player who has full power. He manages his items, characters. As a result, the gameplay is fair and equal for everyone.
Play to earn it’s not just the benefits for the players themselves. Creators who implement blockchain, tokens and NFT to their proposals, attract more users to themselves. Platforms of this type have a massive impact on development of modern technologies in Metaverse.
We will now list a few titles with which you have surely already come across. Talking about:
- Axie Infinity – the most popular game play to earn. Modelled on Pokémon, it allows us to breed, trade and fight with cute creatures called Axies. You receive tokens and NFTs for playing and completing certain tasks. Internal trading is done with the native AXS cryptocurrency.
- The Sandbox – a virtual world with unlimited possibilities. Its ecosystem is very diverse. Users take part in various adventures, build their own lands, buildings, and save their acquired resources as NFT, which they can exchange, for example, for cryptocurrencies. Of course – they can cash them later.
- Alien Words – a free card game based on blockchain. Players play against each other and compete for Trilium (TLM). What’s more, in return for actions that lead to the development of Alien Words, users receive TLM and contribute to the development of the ecosystem.
- MOBOX – it is a platform that connects yield farming and gaming. It uses it for its operation tokens NFT, which allows players to earn while playing. Native token MBOX is used for transaction processing, staking and management. The game is about unlocking chests with keys. As a result, users receive rewards and earn random NFT MoMo tokens that they can sell. Some of them have unique features, which automatically increases their value. Of course, as in the case of play to earn games, such items can be exchanged, for example, for cryptocurrencies.
- CryptoBlades – type game RPG NFT. The character in the game uses two tokens – CryptoBlades Characters and CryptoBlades Weapon. The game’s native token is SKILL, which is mainly used for in-game reward distribution, transactions, character building, and weapon upgrades. For their actions, players receive NFT, that they can trade for SKILL tokens.
- Decentraland (MANA). It is also one of the most popular related games cryptocurrencies i NFT. How do players earn? Buying land and then subletting or selling it. Having your property, you can organize mini-games, events, and other interesting attractions for other players. We buy plots for the native game token –WHERE. We earn currency by offering jobs for others (overseeing the land), designing clothes or items for the community.
- Blankos Block Party, i.e. playing with cute blanks. Players collect them and level up. A character’s value depends on their uniqueness and abilities. Prices went up to $5 million.
- Thetan Arena. This is one of the free blockchain games play to earn. It also allows us to make money in cryptocurrencies and NFTs. In the game, players are given three free characters, which they then develop. As part of their development, you get tokens Thetan Coin (THC). The currency allows us to unlock even more advanced characters or buy boosted ones. We can trade higher level characters, and in return, we get NFT. Interestingly, the management and utility token –THG (Thetan Gem) you can stake. It is available on the most popular cryptocurrency exchanges. You can also exchange it for fiat currency.
Why are P2E games so popular?
Let’s answer the question – who doesn’t like to play games? Certainly, there will be exceptions, but most of us like this form of leisure activity. Most games provide an enjoyable experience and train the mind.
Secondly, it’s even better when during the games we can win prizes and exchange them for fiat currency and turn the pleasure into earning. We combine the pleasant with the useful. No wonder P2E is growing at such an alarming rate.