NFT games provide players control over how they spend in-game resources. There are several methods to make money in blockchain gaming, from renting out NFT games characters for a profit to staking tokens.
1. Acquiring in-game money
The in-game money in most blockchain games may be exchanged for other cryptocurrencies or cashed out.
Smooth Love Potion, or SLP, is used in the crypto game Axie Infinity which is one of best nft games, for example. It serves two purposes: as in-game cash and as an item for breeding characters. You may earn SLP by playing Axie Infinity and winning fights – Axies are axolotl-like creatures — which can be traded or cashed out. According to CoinMarketCap, SLP is worth $0.02632 at the time of writing.
Some games need active participation, while others are passive. To make money in Axie Infinity, CryptoBlades, and Splinterlands, players must fight. Other games, such as Bomb Crypto’s Treasure Hunt mode, require the player to begin the game mode in which the in-game characters perform all of the labor in order to complete the level.
What you’ll require: A blockchain game and account of your choosing, as well as the needed cryptocurrency and a digital wallet.
Where to begin: Create a blockchain gaming account and begin playing to earn in-game cash.
How much money can I earn: It depends on the in-game currency’s worth, how often you play, and, most importantly, how skilled you are – though some games aren’t skill-based. New players in Axie Infinity may earn anything from 75 to 300 SLP every day, based on the parameters stated. New players in Bomb Crypto may expect to earn four to five BCOIN — the game’s currency — every run in Treasure Hunt mode.
2. Breeding
Breeding is another method to make passive money in blockchain games, in addition to combat and exploration. Breeding in blockchain gaming refers to the creation of a new coin for use in the game.
CryptoKitties, for example, is a breeding and collecting game. Players may breed male and female NFT games cats to produce new cats that can be sold on NFT games markets. The new cat inherits characteristics from its parents, and its characteristics are determined by the parents and generation, which influence the young cat’s worth.
What you’ll need: An account and a blockchain game of your choosing, as well as the requisite cryptocurrency, a digital wallet, and the necessary breeding equipment, such as two parent NFT games and a catalyst.
Where to begin: Learn how to breed top-tier, valuable in-game characters or items by creating an account with the breeding blockchain game. Breeding operates differently in each game, as does what makes a new NFT games useful.
How much money can I earn: At beginning, breeding might be an expensive endeavor. You may need to acquire valuable parent NFT games to increase your chances of breeding valuable NFT games collectibles. According to Investopedia, the typical CryptoKitty sells for around $65. Some, on the other hand, are worth hundreds of thousands of dollars, with a handful selling for more than $2 million.
3. Minting
There are several methods to profit from blockchain games by minting new products.
Players may build 3D items, wearables, and other collectibles in metaverse games like Decentraland and Cryptovoxels and receive royalties from secondary sales. Thanks to smart contracts based on blockchain technology, participants in Cryptovoxels may earn up to 10% of a selling price with each subsequent sale.
Players may create new weapons and sell them on the CryptoBlades marketplace in other games, such as CryptoBlades. Players will be able to submit NFT games collectable designs to the forthcoming massive-multiplayer online RPG (MMORPG) Ember Sword, and if chosen, they will be incorporated to the game, enabling artists to earn royalties on secondary sales in perpetuity.
What you’ll require: A blockchain game of your choosing, as well as an account, bitcoin, and a digital wallet.
Where to begin: Produce an account in the game and use editing or creation tools, forging, breeding, or other techniques to create new goods. Get sure you read the tiny print to discover how much money you may make from royalties, if any are available.
How much money can I earn: When it comes to NFT games creation, the royalty percentage determines how much you make. Depending on the game and platform, designers may earn anywhere from 1% to 15% on secondary sales.
4. Financial Aid
Blockchain game scholarships are a clever way of saying “rent out characters for profit.” A manager and players are usually present in scholarship guilds (scholars). The NFT games are formally owned by the management, but the academics utilize them to play the game. The benefits are divided among the guild members.
Guilds have formed around scholarship schemes. A guild is a group of gamers that get together to play a game and divide the earnings. Axie Infinity has numerous guilds spread around the globe.
What you’ll require: A blockchain game of your choosing, as well as an account, bitcoin, and a digital wallet.
How to get started: Managers will require NFT games characters to rent out and form or join guilds. Scholars must find a management who has NFT games accessible for leasing.
How much money can I earn: Scholarship programs divide the in-game benefits that have been achieved. Axie guild members, for example, may receive 50% to 70% of their earned SLP, or a set sum.
5. Token staking
To gain rewards, you must stake your tokens. Staking your tokens implies making them accessible for trading by other users. Tokens are locked up for a certain length of time (called epochs), after which you get rewards, which are mainly transaction fees.
Many blockchain games, such as DeFi Kingdoms, a role-playing game, include staking pools (RPG). Tokens, such as the in-game money JEWEL, are staked in the Gardens. Players bet JEWEL in order to gain JEWEL emissions, or the rate at which new tokens are issued. As they go through Epochs, gamers who bet “unlock” greater benefits.
Staking is a kind of passive income. Your tokens are locked when you stake, and you can’t use them while they’re locked – but you still own them. You will lose out on rewards if you remove your tokens from the staking pool before the end of an era. It’s also possible that staking your tokens yields you less money than merely keeping them in your wallet if the value of those tokens lowers while you’re staking them – a risk known as impermanent loss — so it’s not fully risk-free.
What you’ll require: A blockchain game of your choosing, an account, and the necessary coins to join the staking pool are all needed.
Where to begin: The staking pool in a blockchain game might be referred to as a garden, bank, or simply staking pool. Make careful to understand the staking pool’s terms and conditions as well as the timetable.
How much money can I earn: In DeFi Kingdoms, each staked token earns you 5% unblocked benefits in Epoch 1. Each Epoch sees a 2% rise in the proportion of claimed awards. The amount you may make by staking varies every game. Depending on the game and the token’s worth, you might earn anywhere from 10% to 20% of your staked tokens every year.
