Traditionally, the video game industry has been one of the leading industries in the US and UK, accounting for much more sales volumes than the movie and music industries combined. However, most of this revenue was enjoyed by the developers of these games, with very little of it going to the gamers themselves. Nowadays, blockchain technology has completely changed the narrative by bringing games that reward players for various in-game achievements.
How to make money playing crypto games
If you’ve been following the crypto conversation, you’ve definitely heard of non-fungible tokens or NFTs, in short. These are digital assets that are unique and can be traded on numerous exchanges and online marketplaces.
Crypto games took advantage of blockchain technology to build games with a GameFi component. This allows them to combine gaming functionalities with financial transactions. On these games, users earn rewards for playing through the levels and collecting in-game items. Depending on the game in question, these rewards can be obtained by winning battles against other opponents, trading the in-game collectibles, or breeding, training, and upgrading game characters.
These in-game collectibles are all NFTs. Therefore, whoever holds them can choose to exchange them in secondary marketplaces for crypto or even fiat money. This has created the concept of play-to-earn games.
Perks of crypto games
Transparency is a key component of blockchain technology. All transactions on a blockchain are stored on a public ledger, which can be accessed by users of that blockchain. This transparency has also been transferred to these crypto games. Therefore, if one pays for an item that’s not supposed to be sold, for instance, other players will see it on the ledger, and appropriate action will be taken.
Blockchain technology is also very big on keeping the network secure. Anything that’s recorded on the blockchain cannot be tampered with, deleted, or otherwise edited. Therefore, a game hosted on a blockchain would keep its data secure at all times, even if the game shuts down or crashes.
Ownership is another key aspect of these games. The in-game collectibles that are traded as NFTs have clearly stipulated ownership records. Thus, anyone who is interested in a particular NFT can clearly see who it rightfully belongs to, which prevents fraudulent vending of these items.
Top 5 crypto games
1. Axie Infinity
This is a Pokemon-style game that offers gamers real rewards for playing. It is mainly concerned with breeding, nurturing, and battling creatures called Axies. You can either breed your own Axies, or buy already-bred creatures and pit them against other players to earn rewards. These rewards are in the form of the game’s native token, Sweet Love Potion (SLP).
Each Axie is represented as a unique NFT and thus can be sold on any one of the numerous NFT marketplaces. You can earn Axies by winning battles against your fellow players or collecting rare Axies. You can also trade them on the marketplace or breed your own.
2. CryptoBlades
This is a battling game that was launched in 2014. The game is hosted on the Binance Smart Chain and was among the first of its kind to introduce NFTs in its gameplay. In it, players strive to upgrade their characters, complete various challenges, and mint their own unique weapons.
The native token of CryptoBlades is SKILL. Players can earn these tokens by manufacturing goods or providing services on the platform and selling them. They can then use the SKILL they earned to level up their characters and weapons.
Therefore, to earn SKILL in this game, you have to send your characters and weapons to combat to obtain SKILL points or upgrade these weapons and characters and sell them for SKILL. What’s more, you can exchange these tokens with other BEP-20 tokens on the Binance Smart Chain or sell your collected NFT items for crypto on various NFT marketplaces.
3. Zed Run
This is a horse-racing game where gamers get to own digital horses, breed them and race them against other players. Each horse is unique and has unique characteristics, such as gene purity, speed, and agility. What’s more, you can improve the features of your horses by breeding them.
To make money playing this game, you could win the races you participate in. If your horse ends up among the top 3, you are entitled to anywhere between 15 to 60% of the entire prize pool. Alternatively, you could put up your male horse in a Stud Farm, where other players can bring their mares to breed and pay you Stud Farm fees. You could also breed your own horses and sell their young on NFT marketplaces or sell the horses themselves as NFTs.
4. Decentraland
This is a crypto game hosted on Ethereum, which allows gamers to build and trade digital artwork, virtual real estate, and other in-game NFTs. It uses two native tokens, MANA and LAND. Using these tokens, you can buy LAND and host games, communities, or adverts on it and earn rent from your clients. You could also build applications and charge entry fees to their users. Alternatively, you could sell the land you own to developers and other content creators who want to build on it. You could also create several collectibles and sell them on the game’s marketplace.
5. The Sandbox
This is a game that utilizes the SAND token. In the game, users can create and upload NFTs and sell them to other users on the platform. They can also buy LAND using the SAND tokens and populate it with anything from assets to games. To earn crypto, you can charge users of your games or charge a commission on developers who use your LAND to host their content.
Conclusion
Blockchain technology has facilitated the creation of crypto games, which come with a play-to-earn component. Users of these games earn rewards from leveling up their NFT characters and weapons and trading collectibles obtained from the game. Some of these games also allow users to create content and earn from their artwork.
