10 Ways to Earn Money with Blockchain Games : Unleash the Potential of Gaming and Cryptocurrency
In recent years, the gaming industry has been revolutionized by blockchain technology, presenting new opportunities for individuals to have fun while earning money. Blockchain games have emerged as a unique and lucrative way to combine gaming and cryptocurrency, allowing players to not only enjoy their favorite games but also generate income. This article explores the realm of blockchain games and delves into how you can earn money by immersing yourself in this innovative and rapidly growing industry.
Play-to-Earn (P2E) crypto games offer not just entertainment but also profitability. Unlike traditional video games, where your accomplishments are limited to in-game assets and quests, play-to-earn gaming enables you to earn real money from your gaming endeavors in the crypto space.
By playing a range of blockchain games, such as pet-centered games, 3D metaverse experiences, or fitness games, you can earn cryptocurrency. You have the freedom to decide what to do with your rewards, whether it’s using them to purchase non-fungible tokens (NFTs), transferring them directly to a crypto wallet for sale or trade, or even utilizing them for real-world payments.
The ability to receive payment for playing these crypto games serves as a significant incentive for players to actively engage within these games. It’s the primary reason behind the surge in popularity of “play-to-earn” games.
In this article, we will discuss some of the top crypto games that trade millions of dollars in value on a daily basis. These games offer various features, pros, and cons, providing players with an array of options to explore while potentially earning extra cash.
Importance of Blockchain Games
The gaming industry is experiencing unprecedented growth, with its current valuation at $173 billion. Positive indicators suggest that it will surpass the $300 billion mark within the next five years. This growth is fueled by a recent influx of new players, particularly in the mobile platform, making gaming a more accessible and practical experience for the estimated 2.6 billion gamers worldwide.
For many players, the motivation to be online goes beyond mere entertainment. Recognizing the significant time investment in virtual experiences with little financial return, players are now seeking ways to monetize their gaming hobby. Until now, opportunities for casual players to capitalize on their gaming efforts were limited, primarily within the realm of eSports.
Earn Money with Blockchain Games: Understanding the Basics
What Are Blockchain Games?
Blockchain games are a novel genre of video games that harness the power of blockchain technology to offer players genuine ownership and control over their in-game assets. Unlike traditional games, where virtual items are centrally managed by game developers, blockchain games utilize decentralized networks, such as Ethereum or TRON, to create a transparent and secure environment for players to trade, purchase, and sell virtual assets.
How Do Blockchain Games Function?
Blockchain games operate on a decentralized infrastructure called a blockchain. This technology ensures that each in-game asset, character, or item is represented by a unique digital token or non-fungible token (NFT). These tokens are stored on the blockchain, enabling players to demonstrate ownership and freely transfer their assets within and beyond the game.
The Emergence of the Play-to-Earn Model
One of the notable advancements in blockchain games is the introduction of the play-to-earn model. In traditional games, players invest significant time and effort in acquiring in-game items and improving their skills, only to find that their accomplishments have no real-world value. However, blockchain games have disrupted this norm by allowing players to earn cryptocurrency or valuable NFTs through their gameplay achievements.
Benefits of Earning Money with Blockchain Games
Blockchain games offer a range of enticing benefits that make them an appealing option for individuals seeking to earn money while indulging in their favorite pastime:
True Ownership: In blockchain games, players possess genuine ownership and control over their in-game assets, empowering them to monetize their accomplishments and creations.
Transparency and Security: The decentralized nature of blockchain ensures transparency and security, safeguarding against fraudulent activities and unauthorized alterations of in-game assets.
Global Marketplace: Blockchain games provide access to a global marketplace where players can engage in the buying, selling, and trading of their virtual assets with enthusiasts from around the world.
Diverse Earning Opportunities: Whether through participating in tournaments, completing quests, or creating unique in-game items, blockchain games offer diverse avenues for players to earn money.
Community Engagement: Blockchain games foster vibrant communities where players can collaborate, socialize, and learn from one another, enriching their gaming experience.
Earn Money with Blockchain Games: Exploring Earning Methods
Participating in Play-to-Earn Games
Play-to-earn games are the foundation of the blockchain gaming ecosystem. These games reward players with cryptocurrency or NFTs based on their in-game accomplishments. By investing time and effort, players can earn substantial rewards that hold real-world value. Some popular play-to-earn blockchain games include:
Trading and Investing in In-Game Assets
Blockchain games provide a thriving marketplace for players to buy, sell, and trade their in-game assets. Similar to the stock market, the value of these assets can fluctuate, offering opportunities for savvy traders and investors to make profits. By acquiring rare or highly sought-after items early on, players can benefit from their appreciation over time.
Creating and Selling NFTs
Non-fungible tokens (NFTs) are digital assets that represent ownership or proof of authenticity of unique items. In blockchain games, players can create and sell their NFTs, such as rare weapons, skins, or collectible items. By leveraging their creativity and design skills, players can generate income by catering to the demands of other players and collectors.
Streaming and Content Creation
Streaming and content creation have become significant sources of income in the gaming industry. With blockchain games, players can capitalize on their gaming skills and entertain others while earning revenue through platforms like Twitch or YouTube. Additionally, blockchain games often have dedicated marketplaces where content creators can sell their gaming-related merchandise or NFTs.
Participating in Blockchain Game Tournaments
Blockchain game tournaments offer players the opportunity to compete against others and win valuable prizes. These tournaments can involve various gameplay formats, including player-versus-player battles or high-score challenges. By showcasing their gaming prowess, players can earn substantial rewards and gain recognition within the blockchain gaming community.
Buying Metaverse Land
The virtual real estate market has experienced a boom in recent years. Metaverse land has become a highly sought-after commodity with lucrative potential. Games like Decentraland and The Sandbox have brought blockchain-based metaverse gaming into the mainstream, allowing players to explore virtual worlds, interact with others, and become landowners. Owning metaverse land can be profitable as it can be sold for profit or rented to other players, generating a passive income stream.
As mentioned earlier, game characters and in-game items in blockchain games are typically NFTs with real-world value. Players who own NFTs can trade them and make a profit. Trading NFTs is a straightforward way to earn money with blockchain games, and the profitability depends on factors such as the rarity of the NFT and the overall market conditions.
Creating and Selling In-Game Items
Creating in-game items is another popular way to earn money with blockchain games. Players can create avatars, buildings, weapons, wearables, game art, and more, and sell them for profit. This opportunity is particularly prominent in metaverse games, as they rely on user-generated content to populate the virtual world and provide various experiences.
Investing in Blockchain Games
Investing in blockchain games is an option for those looking to earn money. Players can invest in games that are still in development or existing games they enjoy by purchasing the game’s native token. As the game gains popularity, the value of the token can increase, resulting in earnings. Staking the tokens, which involves temporarily locking them for a certain period, is another form of investment that can yield rewards and perks.
These are just a few examples of how to earn money with blockchain games. The evolving landscape of blockchain gaming offers numerous opportunities for players to monetize their skills, assets, and creativity.
What are Play to Earn Crypto Games?
Play-to-Earn crypto games are a new genre of games that utilize blockchain technology and cryptocurrencies to enable players to earn real-world value from their in-game activities. These games have their own native tokens that support the in-game economy, and players can buy, trade, sell, and play with these tokens.
It’s important to note that while some play-to-earn games require an initial investment to start playing, others can be played for free. The graphics and overall quality of these games may still be in early development stages compared to traditional console games like PlayStation or Xbox titles. However, the focus of these games lies in the economic aspect, as the rewards earned through playing can be substantial and engaging.
How to Verify a P2E game?
When verifying a play-to-earn game, it’s crucial to check the tokenomics and understand the details of the game’s native token. Consider factors such as the total token supply, release cycle, incentives for holding or staking the token, and other potential use cases for the token. An unlimited token supply may not be favorable, and the rewards for staking and holding should be attractive enough to incentivize player participation.
Since the play-to-earn space is still relatively new and there are risks involved, it’s advisable to start with smaller investments and only commit an amount that you can afford to lose. Conduct thorough research and due diligence before investing heavily in a play-to-earn game.
It’s important to note that cryptocurrency investments, including play-to-earn games, carry significant risks. Therefore, it’s recommended to be cautious and only invest amounts that you are willing to lose, considering the volatile nature of cryptocurrencies.
Play Games to Earn Rewards
In most blockchain games, the play-to-earn system follows a similar concept where players engage in various activities within the game’s ecosystem and receive rewards in return. These activities can include battling other players, participating in tournaments and events, completing tasks, and more.
The rewards in blockchain games commonly come in the form of fungible and non-fungible tokens (NFTs). Each game usually has its own native token(s) that serve different purposes within the game’s economy.
For instance, let’s take the example of “Plants vs. Undead,” a game reminiscent of “Plants vs. Zombies.” In this game, players are tasked with protecting a mother tree and fighting off waves of undead creatures. When players successfully complete game tasks or achieve certain objectives, they earn Light Energy tokens as rewards. These Light Energy tokens can then be exchanged for the game’s native token, PVU. PVU tokens can be further traded on exchanges for other tokens or even fiat currency.
It’s important to note that the specific gameplay mechanics and earning opportunities can vary from game to game. Each blockchain game has its own unique play-to-earn system, offering different activities and rewards tailored to the game’s mechanics and objectives.
Best Crypto Play to Earn Games
1 Axie Infinity – Best PVP NFT Crypto Game
Axie Infinity is an exciting play-to-earn game set in a digital universe where players collect and battle creatures called Axies. Developed by Sky Mavis, Axie Infinity offers a range of engaging experiences, including kingdom building, breeding, raising Axies, and engaging in battles. The game also provides rewards in the form of Non-Fungible Tokens (NFTs).
In Axie Infinity, gameplay revolves around skill and competition. To begin playing, players need to acquire an Axie capable of defeating opponents. There are six pure Axie breeds, each with six body parts that possess different stats. Strategically selecting your Axie is crucial for having a chance at victory against other players.
Once you have your Axie team, you can train them in Adventure mode. This involves battling AI-controlled Axies to increase their Experience (XP) for the subsequent part of the game, which is Arena mode. In Arena mode, players are matched with opponents of similar Matchmaking Rating (MMR).
The more victories you achieve in player-versus-player (PVP) battles, the higher your MMR will rise, resulting in greater potential earnings. The earning potential in Axie Infinity is tied to your skill level and performance in the game. Your MMR determines the amount of money you can earn by playing Axie Infinity. Additionally, you can engage in farming activities to earn crypto assets.
When starting the game, you typically begin with an MMR of 1200, earning you 3 Smooth Love Potion (SLP) tokens, which is the in-game currency. Each time you win battles, you receive SLP tokens. The value of 3 SLP is approximately $0.015. It’s important to note that losing a battle will lower your MMR but won’t reduce the SLP tokens in your wallet.
Axie Infinity offers various avenues for earning rewards and in-game purchases. Players can compete in the Arena mode to earn crypto rewards for winning matches, receive SLP tokens as rewards, and make in-game purchases on the Axie Marketplace, including NFTs like land.
Please note that the specifics of the gameplay, rewards, and earning potential in Axie Infinity may be subject to change as the game evolves.
2) The Sandbox – Best Crypto Game for Monetization
The Sandbox is an innovative crypto play-to-earn game that combines creativity and monetization. It was initially launched by Pixowl in 2011 as a means to introduce people to blockchain technology through virtual gaming. However, it has since evolved into a thriving digital economy where players can create and monetize multiplayer gaming experiences and voxel assets.
In the Sandbox, players have the freedom to create virtual worlds complete with characters, buildings, art, events, and resources. They can determine the interactions within these worlds, resulting in an expansive collection of games within the game itself.
To participate in gameplay, game owners need to attach their games to specific plots of Sandbox land. Each plot measures 1×1 or 96×96 in-game meters, with each meter consisting of 32x32x32 voxels (3D pixels). It’s worth noting that owning land is not a prerequisite for creating a game on it; players can also rent land for their game development needs.
Creativity is paramount in The Sandbox, and it serves as the primary avenue for making money within the game. One way to earn money is by creating non-fungible tokens (NFTs) and selling them on the marketplace. Players receive payouts in SAND, the in-game currency of The Sandbox.
The marketplace offers NFTs with a wide range of values, ranging from as little as $0.97 to as much as $4826. This allows creators to price their NFTs within this spectrum and find interested buyers. Additionally, players can monetize The Sandbox by purchasing land and renting or selling it to other players at a profit. There are no fixed rates for selling or renting land within the game.
The highest recorded sale for a 1×1 plot on The Sandbox reached a value of 100 ETH. The land, owned by The Yacht’s King Domain, was sold for approximately $279,282 at the time of the transaction.
The Sandbox also enables the creation of multiple multiplayer gaming experiences, development and infrastructure building on Sandbox lands, hosting social experiences and virtual events, as well as creating and trading voxel art.
Overall, The Sandbox provides a dynamic platform for gamers and creators to engage with blockchain technology, unleash their creativity, and potentially earn real value through the creation and monetization of virtual assets.
FAQ – Earn Money with Blockchain Games
What is a Play-to-Earn Game?
A Play-to-Earn game, commonly referred to as P2E games, is a type of free-to-play game that allows players to earn in-game currency by participating in the game and completing missions or activities. By engaging in these activities, players have the opportunity to accumulate rewards, which can include Non-fungible tokens (NFTs) or crypto assets.
The Blockchain Games Play to Earn Model
Play-to-Earn games differ from ad-supported games as they allow game companies to generate revenue while providing players with valuable assets. In many regions around the world, players of blockchain games are primarily motivated by the potential for income, which attracts them to these games in the first place. Because earning profit is the main driving factor, developers can reasonably assume that players who can earn a profit will also be willing to reinvest a portion of their earnings to further increase their potential returns.
It’s important to recognize that the play-to-earn model is still relatively new in the gaming industry. While the number of participants may be limited at this stage, those who engage in play-to-earn games are more inclined to invest modest amounts, either upfront as an entry cost or gradually as a percentage of their trades and sales.
There are significant distinctions to consider. The first distinction is between paying real money for digital items that you don’t actually own, and paying fractional costs to personally own and have control over real digital assets. The second distinction lies in paying to enhance entertainment value through in-app purchases (IAP items) versus paying as an investment with the goal of earning actual income.
Q1: Can I really earn money by playing blockchain games?
Blockchain games have implemented the play-to-earn model, enabling players to monetize their gameplay and earn tangible rewards in the real world. By participating in these games, players have the opportunity to accumulate cryptocurrency or valuable NFTs as a result of their in-game activities.
Q2: Are blockchain games safe and secure?
Blockchain games take advantage of the security and transparency provided by blockchain technology, which inherently makes them secure. However, it is important to exercise caution when engaging in trading or transactions within the game. It is advisable to use reputable platforms and marketplaces to ensure the safety of your assets and personal information.
Q3: Do I need prior experience with cryptocurrencies to start earning in blockchain games?
Although having prior experience with cryptocurrencies can be beneficial, it is not mandatory to start earning in blockchain games. Many of these games offer user-friendly interfaces and comprehensive guides that assist newcomers in navigating the realm of cryptocurrencies and getting started with earning rewards. So, even if you are new to cryptocurrencies, you can still participate and enjoy the benefits of blockchain games.
Q4: Are blockchain games only for professional gamers?
Blockchain games are designed to accommodate players across a wide spectrum, ranging from casual gamers to seasoned professionals. The diverse gameplay mechanics and various earning opportunities within these games ensure that individuals of all skill levels can actively participate and have the opportunity to earn money. Whether you are a casual player seeking entertainment or a skilled gamer looking to maximize your earning potential, there are options available in blockchain games to suit your preferences and abilities.
Q5: How can I cash out my earnings from blockchain games?
To convert your earnings from blockchain games into traditional currency, you typically need to exchange your cryptocurrency or NFTs for fiat currency. This process can be carried out through different cryptocurrency exchanges or specialized marketplaces that specifically cater to in-game assets. These platforms facilitate the conversion and provide you with the means to cash out your earnings and obtain real-world currency.
Q6: Is blockchain gaming just a passing trend?
Blockchain gaming has experienced a remarkable surge in popularity and there are no indications of it losing momentum. The combination of gaming and cryptocurrency has captivated the imagination of millions of individuals globally, and the industry is constantly evolving with the introduction of new games, features, and opportunities. This fusion has opened up exciting possibilities and continues to shape the landscape of gaming, creating a dynamic and ever-expanding ecosystem that appeals to players and enthusiasts alike.
How Do Play-to-Earn Games Work?
Play-to-earn gaming operates on the basis of cryptocurrencies. Players engage in gaming activities and receive tokens and digital assets as rewards for completing tasks. These tokens and assets hold value within the game’s ecosystem and can be used for various purposes such as trading, purchasing in-game items, or converting them into real-world currency. The concept of play-to-earn has revolutionized the gaming industry by providing players with the opportunity to earn tangible rewards through their gameplay efforts.
Are Play-to-Earn Crypto Games Legit?
Play-to-earn crypto games are legitimate; however, it is important to conduct thorough research before committing to any game. This research ensures that you validate the authenticity of the game and understand its potential within the market. By doing your due diligence, you can make informed decisions and identify trustworthy games that offer genuine earning opportunities. This will help you navigate the world of play-to-earn crypto games more effectively and increase your chances of success.
What is In-Game Currency?
The in-game currency serves as a virtual form of currency within the game, which players can utilize to acquire various in-game items. This currency can be used to purchase virtual goods like land, weapons, clothing, and power-ups. Typically, players earn in-game currency by accomplishing tasks or emerging victorious in challenges presented within the game. It serves as a medium of exchange within the game’s virtual economy, enabling players to enhance their gameplay experience and access desirable virtual assets.
Summarizing Ways to Earn Money with Blockchain Games
The world of blockchain games offers an exhilarating frontier for individuals who wish to earn money while indulging in their passion for gaming. Through the utilization of blockchain technology, these games provide players with unprecedented ownership, transparency, and potential for earnings. Whether you decide to engage in play-to-earn games, trade in-game assets, or create and sell NFTs, the possibilities are boundless. So why not embark on this thrilling journey and unlock the true potential of gaming and cryptocurrency?
Moreover, if you desire to venture beyond earning in existing blockchain games, why not take the leap and create your own? Admittedly, this may be easier said than done. However, if you possess game development experience and can assemble a talented team, why not give it a try? The blockchain gaming market is still in its infancy and offers ample opportunities, unlike the oversaturated mobile gaming market, for instance. It’s a chance to pioneer and explore uncharted territory while capitalizing on the immense potential of blockchain technology in the gaming industry.