Tag: make money playing NFT games

19April2022

Why are NFT games so popular?

Written By Harrison Ruwolt

NFT games are one of the trendiest new cryptocurrency subjects and with cause. NFTs are a relatively new token designed to address some of the most pressing challenges confronting the cryptocurrency ecosystem.

While cryptocurrencies such as Bitcoin and Ethereum have had tremendous success in recent years, their use is restricted since they can only be used as a medium of exchange and store of value. This is where NFTs enter the picture.

NFTs are popular because they rapidly evoke memories of products from games, films, and everyday life. The success of Crypto Kitties provided a significant boost to NFTs, and new NFT games are being released on a daily basis. People acquire things for the sheer joy of it and for the bragging rights.

Different types of NFT games

Earn money by playing

Through games that emphasize monetary gain, video games are raised as an income source. Each participant gets a one-of-a-kind item with established scarcity that they may retain. This notion allows players to make use of their stuff in a variety of different games.

In the best NFT games, a great deal of emphasis is placed on the play-to-earn paradigm. The built-in incentives are what distinguish them from other types of games. These incentives shift power away from game producers and toward the community’s strongest players.

Reward opportunities inside the game

The second sort of NFT game requires players to collect in-game items in order to proceed through the game, especially those having a monetary value. The best NFT games in this category allow players to collect in-game assets in the form of NFTs. You can read about the Top 5 NFT Games You Can Play To Earn $100 a Day: ‘Splinterlands,’ ‘Lost Relics,’ and MORE by clicking here.

Players may collect and swap weapons, characters, vehicles, and other in-game items in a variety of ways. NFTs are the only kind of currency that may be traded.

Depending on the game, players have two options: assembling NFTs till they get crypto prizes or selling NFT games for profit.

Free-to-play

Free-to-Play

Gamified learning is prevalent in a number of NFT games. There is a true goldmine of educational material accessible through a game-like user interface that promotes learning. These NFT games are completely free to play and need no upfront commitment.

The advantages and disadvantages of NFT games

Consider some of the most significant benefits and drawbacks of the top NFT games.

Advantages: Increased income opportunities

Experts developed NFTs in response to an uneven digital environment. As a result of their efforts, the NFTs have garnered considerable attention and investment.

Advantages: Smart contracts

Smart contracts are often regarded as the lifeblood of the fast-developing blockchain ecosystem. Additionally, it enables automatic executions in response to certain circumstances.

Advantages: Immutability

After the legality and blockchain truthfulness of NFTs are confirmed, they cannot be altered or replaced. Additionally, their underlying authenticity is divided into three categories: genuine, actual, and irrelevant.

Advantages: Ownership pride

Finally, but certainly not least, generous contributors have an easy way to support the artistic community. NFTs may be cherished additions to their memorabilia collection.

Negative: An unregulated market

The finest NFT games now available on the market have an important emotional and visual component. In the long term, estimating the cost of NFTs is difficult.

Cons: Theft is a possibility.

NFTs are perfect for cyber theft from the perspective of hackers. As a result, many exchanges have security difficulties as a result of old or inadequate practices.

Cons: Concerns about sustainability

Numerous analysts believe that the rising NFT market will contribute significantly to the fast depletion of the earth’s natural resources, since the system that powers it consumes a lot of energy.

Given that the majority of NFTs’ security and distribution technology is derived from Ethereum, each transaction is anticipated to use over 48.14 kilowatt-hours of energy. To put things into perspective, the average global energy use per person is only 58 kilowatt-hours per day.

Cons: Possibility of ownership and control difficulties

The ownership principle is not applicable to the replication and distribution of NFTs across many platforms. The fact that you possess the NFT does not mean that you have the ability to prevent or even affect the production of NFT’prints. You can also read about NFT’s Advantages and Disadvantages and a glimpse of the NFT by visiting https://www.fuzia.com/article_detail/318769/nft-advantages-and-disadvantages-and-a-glimpse-of-the-nft

How can I begin with NFT gaming?

The first step is to invest in the NFT games sector. Always do due diligence before investing. Following that, you’ll need to focus on amassing your tokens.

It is vital to remember to invest just what you can afford. To maximize your enjoyment of these games, it’s necessary to first grasp how the economy works.

What role does a cryptocurrency wallet play in blockchain gaming?

It is a cryptocurrency-backed digital wallet. It is possible to trade and earn money in NFT games that make use of such a digital wallet.

What are microtransactions/in-game purchases?

The term ‘micro transaction’ refers to in-game transactions in NFT games. ‘MTX’ is a typical colloquial abbreviation for this term.

Micropayments may be used to acquire virtual items, such as game assets, under this business model. Microtransactions are more prevalent in free-to-play games.

What role do cryptocurrencies play?

Trading cryptocurrencies entails the acquisition and sale of any kind of cryptocurrency coin. Numerous NFT games now support a number of cryptocurrencies, including Ethereum, Dogecoin, Bitcoin, and Cadence. To initiate the transaction, investors create an account on an online trading platform.

How can you make money playing NFT games?

The game’s mechanics dictate how much money you can make while playing.

You might earn money from other players who appreciate the NFTs or cryptocurrencies you earn while playing various games. To earn money, you may either sell your unique items or in-game currency at a market, exchange, or auction house — some of which are located inside the game, while others are accessible through Defi marketplaces.

Is the buzz around NFTs justified?

Without a doubt, the best NFT games are inspired by well-known genres.

Nonetheless, it’s worth mentioning that the finest NFT games to invest in are profitable in unique ways since they serve as both entertainment and a source of income for a large number of individuals. Additionally, their integration of blockchain technology distinguishes them.

NFTs are increasingly being incorporated into sports memorabilia and sports themselves. As a result, engaging millions of followers globally is a natural option for NFTs. NFT games are becoming more relevant for companies and players alike. Check out: DeFi and Play to earn games

19April2022

Why playing Axie Infinity can be dangerous?

Written By Harrison Ruwolt

I know you’ll be curious to know what I want to say about Axie Infinity. Someone approached me the day I held a seminar about the effects and damages that Axie Infinity has brought into the world. Don’t be shocked by what you’re reading. Honestly, if you can pay attention and shun distractions as you read through, you’ll later agree with my point of view concerning this matter. 

There’s a saying that “there’s nothing in life without a limitation or a weakness.” Firstly, I need to ask if you agree with that saying. Then, if you agree with that saying, you should also agree with me that Axie Infinity has its side effects. Do you know that as some people are hailing Axie Infinity, some people are also thinking about how to stop playing it? That’s an irony of life. I am talking about people that understand every cheat and trick to win. I was shocked when a friend told me that he was looking for a way to stop playing Axie Infinity. Then, I began to ask him a series of questions. Honestly, I wanted to know why and I am also looking for a way to encourage him to continue playing this game. Don’t mind me; I was thinking about the money he had made from playing Axie Infinity. But he replied, “you can’t understand.”

playing Axie Infinity

So, since then, I traveled in thought, and I came out with something interesting. Do you know playing Axie Infinity can be dangerous? Oh! Let me ask this way. Do you know that there are side effects or limitations to Axie Infinity? 

Thus, who will answer the above-listed question? And that’s what this article is all about. I’ll be revealing the shortcomings of Axie Infinity, and I’ll be showing you how spending much time on this game can be dangerous.

Why playing Axie can be dangerous?

Axie can be dangerous
  1. Axie Infinity is beyond having fun: Axie Infinity these days has gone beyond having fun. Initially, games are created to take people out of worries and stress and make them feel relaxed. Although, Axie started with the intent of helping people to come out of concern and pressure from their daily work. But playing Axie Infinity turns into a platform to gather worries and more mental stress as time goes on. What do I mean? No one prays to lose in Axie. If you lose, then the money used to buy the three creatures called Axies has gone. So, you have to stay awake and look for every means to be relevant in the game. I have seen people whose health is at risk because they’ve invested so much in Axie Infinity and think about how the money will not be a waste. So, if we go by the initial intention of creating a game to reduce worries and stress and make people feel relaxed, then Axie Infinity is out of the radar. I hope you understand what I am trying to say here. You can also read about Play to earn games by clicking here.
  2. Playing Axie Infinity increases laziness among the youths:
a man using mobile

Nowadays, children are looking for a simple way to make money. The kids and even some adults also withdrew from their daily and concentrated on a game. Can you imagine that? What can you say to prove that your daily job is playing Axie Infinity? Have you seen youths around you playing this game and taking it as a profession? So, if that is the case, then Axie Infinity should be seen as a business and not a game. If you want to play Axie and earn money, you must first invest. One must buy three Axies before one is eligible to play this game. Is this how games are planned or created in the first instance? So, why did games turn into a business where you have the chance of winning or losing that might bring worries and sleepless nights? You need to think about this point and agree with me. Nowadays, youths are hiding underplaying play-to-earn games like Axie Infinity, and they have one way or the other, take this game as a profession. Is that right? 

  1. High risk of losing money: Many people had lost a reasonable amount of money in investing in playing Axie Infinity. I see as though things are turning upside down. It is now in our generation that you’ll see strange things happening. I don’t know when the game turns out to be an investment. It should be crystal clear that you’re engaging in investment if you’re investing.
money on fire

On the other hand, a game should also maintain its purpose. And we all know that games are created for entertainment. So, if you want to play Axie Infinity, you need money to buy a starter pack. And if you lose the game, you must purchase another package to start over again. Then, how can I play a game without losing? Is it possible? So, the more I lose, the more I spend money to restart. 

  1. The high price to partake in Axie Infinity: Engaging in this game can be dangerous because Axie Infinity’s starter pack is expensive. Imagine someone spending $500 on buying Axies which might later be useless at the end of the game. I also heard that the price of these Axies is not fixed or stable. The price fluctuates. Research shows that this game has made up to $2 billion in sales. Can you imagine that? As the price of these Axies is increasing in the marketplace, the cost of buying a starter pack is rising. This topic is what you need to concur with. The points here are fundamental. 

On a final note

This article is not to stand against anybody’s write-up. I am only trying to educate you and open your eyes to see something different. Of course, life itself is full of ups and downs. So, I am not writing to stop you from playing this game. I am only showing you the other side of the story about this game. Do you find it interesting? Why not share with people? You can do that by sharing the link to this page with families and friends. Finally, do you have a question? Drop it in the comment box. Also read about The 8-Step SEO Strategy for Higher Rankings in 2021 by visiting http://ps3addict.net/the-8-step-seo-strategy-for-higher-rankings-in-2021/

16December2021

DeFi and Play to earn games

Written By Harrison Ruwolt

To reward players, several GameFi initiatives use principles from the DeFi industry. Yield farming, liquidity mining, and staking are all concepts that are known to anybody with DeFi expertise and may be used to create passive revenue from blockchain play to earn games. If you’re unfamiliar with DeFi, you may read about it and the principles that overlap with GameFi in our introduction.

Axie Infinity and Top GameFi protocols are two examples of blockchain play to earn games that make use of capabilities more often seen in DeFi.

Although the original GameFi products used the Bitcoin blockchain, the majority of contemporary blockchain play to earn games are hosted on networks that support smart contracts. Ethereum was the first of these and continues to be the most popular with developers and players alike.

Ethereum, on the other hand, prioritizes decentralization and security above speed. Due to the restricted amount of Ethereum’s block space, those desiring the quickest settlement times must encourage miners to include their transactions. When demand exceeds the amount of accessible block space, the cost of transacting rapidly increases, effectively pricing certain users out. This offers a challenge for creators of blockchain play to earn games. If the majority of the activities a player makes demand an excessive transaction charge, the game will simply never achieve the user base of popular play to earn games.

As a result, many developers are abandoning Ethereum’s basic layer in favor of quicker, higher-capacity networks. Several examples include the following: 

  • Polygon Network 
  • Solana 
  • Wax 
  • Polkadot 
  • BSC

How to begin playing blockchain-based play to earn games

Each blockchain-based game is unique. As a result, we can only provide broad instructions on how to get started with GameFi. For more sophisticated assistance, we suggest reviewing the manual for the appropriate game.

To begin, develop a web 3.0 wallet.

In contrast to many of today’s most popular online apps, the majority of blockchain play-to-earn games do not use a standard username/password login method. Rather than that, a user authenticates with the game using a Web 3.0 wallet.

The wallet needed to play the game will vary according to the network on which it is hosted. To play Axie Infinity, for example, you’ll need an Ethereum-compatible Web 3.0 wallet, such as OKEx Wallet or Metamask.

Acquire any necessary goods to play

Numerous blockchain play-to-earn games need you to possess one or more in-game assets in order to play. To play Axie Infinity, for example, you must have a minimum of three Axies in your Web 3.0 wallet.

Other titles may need the purchase of a digital currency used in-game. In many circumstances, you may purchase these currencies through or inside the game.

Log in with your Web 3.0 wallet information.

The majority of today’s popular GameFi play-to-earn games are accessible via your browser. As a result, you’ll need to join the activity by logging in with the Web 3.0 wallet you generated previously.

To do so, go to the game’s website and seek a link to your wallet. Your wallet will prompt you to confirm the activity by verifying a message from the site with your signature. The wallet generates the signature automatically, which you may confirm by clicking the Sign button.

As previously stated, your Web 3.0 wallet will serve as your account, with any progress made being kept through your wallet. Additionally, it acts as an inventory for your items and depending on their compatibility, any assets kept may be utilized to play the game. You can read about Core business aspects of NFT play to earn games by visiting http://ps3addict.net/core-business-aspects-of-nft-play-to-earn-games/

Using DAOs to decentralize GameFi

Historically, the creation of video play to earn games has been heavily centralized. A studio will create, develop, and distribute a game, while also being solely responsible for future upgrades. Numerous GameFi initiatives, on the other hand, strive to empower players with decision-making authority.

This is accomplished via the use of a decentralized autonomous organization. Token holders may create and vote on project update proposals in a DAO. Often, these recommendations will have a direct effect on the financial aspects of the title. For instance, the DAO may decide to boost the reward for doing a certain activity inside the game as a promotional measure.

To join a GameFi DAO, you must first acquire the governance token for the project. Frequently, the quantity of tokens owned is directly proportionate to the voting power of a member. Essentially, when it comes to directing a project’s course, the biggest stakeholders have the loudest voices.

Certain play-to-earn games have their own built-in DAOs. Alien Worlds is a nice example of a multichain videogame. The science fiction massively multiplayer online role-playing game has six DAOs, each representing a distinct planet (aka MMORPG).

Interestingly, certain GameFi DAOs are not title-specific. Yield Guild Play to earn games and similar projects strive to monetize different play-to-earn blockchain play to earn games for the benefit of its participants. YGG’s main DAO and its title-specific sub-DAOs pool in-game assets, allowing players to incorporate them into other play to earn games and earn revenue for the collective.

GameFi’s future

Despite its origins dating all the way back to the dawn of cryptocurrencies, GameFi is just now gaining broad appeal. The success of one of the niche’s flagship play-to-earn games, Axie Infinity, effectively demonstrates the niche’s rise. Axie Infinity became the first blockchain game to reach $1 billion in cumulative token sales in August 2021 — one-fifth of which happened in a single week — and now boasts over a million daily active players. Click here to read about 10 Important Cryptocurrencies Other than Bitcoin.

While early blockchain play-to-earn games failed to gain widespread popularity, the technology behind them and our knowledge of it has advanced to the point where new GameFi products are gaining a huge following. Gaming, according to some industry observers, is the most probable path to mainstream blockchain adoption.

Over a billion video gamers are already intimately aware of the concepts of limited digital commodities, tokenization, and in-game currency. Meanwhile, blockchain technology empowers these players in ways that are clearly beneficial – both monetarily and for the development of a title. As a result, it’s not difficult to see GameFi encroaching on the $175 billion worldwide video game business.

Indeed, the Blockchain Game Alliance, a non-profit organization dedicated to raising awareness of GameFi, already has a remarkable roster of members, including popular game studio Ubisoft and chipmaker AMD. Indeed, Ubisoft announced in May 2021 that GameFi will be the topic of its sixth Entrepreneurs Lab event.

Given the popularity of Axie Infinity and the growing number of blockchain players to earn games now under development on a variety of different blockchain protocols, GameFi clearly has a bright future ahead of it. However, it is impossible to anticipate how this future will evolve. While many of the elements covered in this article will undoubtedly stay prominent in future GameFi releases, the rapid evolution of blockchain technology today means that fresh advancements are regular. Numerous innovations will undoubtedly find their way into video play to earn games, bringing with them novel and interesting methods of monetizing new experiences.

16December2021

Core business aspects of NFT play to earn games

Written By Harrison Ruwolt

As cryptos continue to grow in popularity, companies worldwide are exploring new ways to integrate this really innovative technology into their core goods and services. Online gaming, in particular, has become a hotbed of innovative technology in this field. Play-to-earn games are constantly devising new ways to use cryptocurrency to buy and sell in-game merchandise, cosmetics, and unlock characters, among other things. The fusion of the virtual and physical worlds — our metaverse – has never looked better.

best play-to-earn games have changed significantly over the last several decades. Indeed, the worldwide gaming industry, which was worth USD 173.70 billion in 2020, is expected to grow to USD 314.40 billion by 2026, growing at a 9.64 percent compound annual growth rate between 2021 and 2026. Sony, Tencent, Nintendo, and Microsoft are some of the largest video game firms, with each generating over ten billion dollars in gaming revenue. Sony is the market leader, with over $25 billion in sales. Electronic Arts (EA Games), Sega Games, Konami Holdings Corporations, and Gameloft are just a few of the world’s most well-known video game developers.

While numerous economies succumbed to the Covid-19 epidemic in 2020, the video gaming industry was one of the only industries to see an unexpected surge. With numerous countries implementing statewide curfews, citizens instinctively sought amusement inside their own homes throughout subsequent rounds of restrictions.

Several large game makers, like Activision Blizzard, Epic Games, and Electronic Arts, forecast an enormous increase in income from sales and active user base in 2020. Increased in-game purchases corresponded to the rise of inactive users.

The exponential expansion of cryptocurrency gaming

With developments in PC and mobile gaming, the gaming industry’s interest in cryptos has increased significantly. Crypto play-to-earn games, without a doubt, are upsetting the conventional gaming business by enabling players to earn money as they play, therefore compensating them for their time and effort.

According to research issued by the Worldwide Asset Exchange, over 75% of online gamers desired the ability to trade their virtual assets for money that could be utilized across different platforms. Crypto gaming has increased in popularity in part because it enables users to gather and trade virtual assets that can be swapped and sold globally. Additionally, it has proved to be a safe and straightforward method for the gaming business to generate money.

How does cryptocurrency gambling operate?

It is a well-known truth that cryptos may be purchased and sold simply using digital wallets and crypto exchanges. Therefore, how does cryptography operate in the area of online gaming? This is how.

In conventional online gaming, affiliate marketing, in-app purchases, and in-app advertising are all common monetization methods. Additionally, gamers are highly acquainted with in-game coins, such as those seen in Monopoly or mobile play to earn games such as CandyCrush. However, for so long, these coins had no worth outside of the framework of the game, which is horrifying.

This is where cryptocurrency gaming differentiates itself since it enables consumers to add value to their purchases. In crypto play to earn games, store tokens, such as in-game merchandise, are often held on a distributed ledger atop a crypto network. This distributed database, dubbed the blockchain, enables the exchange of gaming items for cryptocurrency, which may then be converted to real money. You can read about DeFi and Play to earn games by clicking here.

Through in-app purchases, players may purchase stuff like money, additional lives, custom characters, clothes, and accessories straight inside the game. When applied to crypto gaming, in-app transactions occur when users purchase products with cryptocurrency or acquire cryptocurrency itself. In contrast, in conventional play-to-earn games, assets are often purchased through a single developer-owned shop, benefiting the creators rather than the gamers.

Additionally, players cannot affect the game’s life cycle in conventional play to earn games. When the server is shut off, the operator will remove any unused virtual properties, and the player will lose access to them. The game operator retains ownership of all products included in the game, not the player.

While digital ownership is present in current play-to-earn games, it lacks the value and risks associated with crypto play-to-earn games. While you may hold in-game assets, you are not permitted to sell them to other players. In comparison, the whole notion of crypto play to earn games is fundamentally different, from the ownership of virtual assets to their decentralized functioning and the fact that players’ assets are worldwide dispersed and not restricted to gaming objectives.

Earn money with cryptocurrency gaming

In essence, crypto play-to-earn games are video games that operate on a cryptocurrency network and have a fully or partly distributed ledger architecture, granting players verifiable ownership of the game’s virtual goods. As a consequence, users may exchange virtual goods for bitcoin that can be converted into real money.

Throughout this time period, only the game’s producers or game studios profited from the virtual coins sold to players or users, since these assets had no intrinsic worth. This meant that practically everything you could purchase in a game (e.g., skins, armor, and upgrades) had a finite worth, despite the fact that customers paid real money for them.

However, with the advent of crypto play to earn games, the status quo is changing. While traditional play-to-earn games have always been primarily about amusement, crypto play-to-earn games combine enjoyment with the possibility of earning actual money while playing. Each time a player purchases an object, they indirectly contribute to the game’s economy’s worth. Axie Infinity, CropBytes, and Gods Unchained are just a handful of the most popular cryptocurrency play-to-earn games that enable players to earn money by completing in-game goals using virtual items.

CropBytes, a homemade crypto game, is a good example. Players may expand their portfolios of assets in this farm simulation game by using NFTs and cryptos on their own farms. This crypto game, which is a favorite of over 80,000 CropBytes members, enables players to use the power of cryptocurrency in order to make money while playing.

NFT Games

With the popularity of crypto play to earn games increasing, so has the NFT gaming industry. Crypto gaming received an update in the first quarter of 2021 with the introduction of NFT play to earn games, which evolved from Play to Earn games to collectible games based on the Pay to Earn premise. The gaming business has always been driven by trends, and the newest trend in NFTs is no exception. While it is no secret that the NFT sector has grown to be a billion-dollar industry, play-to-earn games are unquestionably one of the strongest applications for NFTs. Much of the NFT sector is now centered on gaming, which offers a great opportunity for players to accumulate unique in-game items.