NFT Games and How To Make Money With Them

Written by: smm

on: 27/03/2023

NFT is a unique thing that became wildly popular with the rise of the blockchain gaming industry and digital collectibles.

It contains information about the owner, confirming the right of ownership to an asset, while the value of items is proportional to how rare they are. For instance, if the NFTs have been created by a popular celebrity, their prices can sometimes be astronomical.

So what exactly are NFTs:

In 2021 alone, NFT games made $2.5 billion. This is 22% of the NFT’s trading volume for the quarter. 

The interest in this field along with the number of companies are on the rise, which is why it makes sense to look into the intricacies of the NFT gaming industry.

Unlike traditional games, you have unique virtual objects, weapons, and skins in NFT games. The user has real rights or ownership of these items. This is why the players will still have them even if the game no longer exists or if the player has been banned. 

For this type of entertainment, you must create a cryptocurrency wallet if you don’t have one yet. 

There are several types of NFT games:

1. NFT where the player can personally create NFTs or receive them as a reward. This can be virtually anything—from an in-game item to a weapon.

2. P2E where the players can earn a reward for being active in the game.

3. Free games where donations are voluntary and non-mandatory.

Benefits of the NFT games:

— Decentralized gaming process

What this means is that the player will own a portion of the rights with the NFT, which sparks even higher interest in it.

— Transparency

The risk of getting scammed is pretty much non-existent.

— Diversity

Today, you can come across a bunch of different genres of NFT games, just like in the regular gaming industry. Everyone can find exactly what they prefer.

— Chance to make good money

You can earn money here without having to invest anything. This is done by exchanging the assets for fiat money or cryptocurrency.

Drawbacks of NFT games:

— No guarantee of consistent profits

You can earn here just as much as you can lose. It’s important to factor in the risks.

—Tricky process of converting reward into cash 

Some digital assets are not supported even by the most popular exchanges. So, make sure to check that out beforehand so that you don’t face any unfortunate problems later on. 

How do you pick the NFT game that’s right for you:

There is obviously no one-size-fits-all solution for this. That said, the user may narrow down their search by answering the following questions:

— What is the language of the interface

Make sure to check what languages the game supports. Otherwise, your entire gaming experience won’t be as smooth and pleasant as you expect. 

— What game genres are you into

— What type of hardware do you need

There are certain games that can only be installed on a computer. So, if you only have a smartphone at your disposal, make sure to look for relevant options.

— How much time are you willing to invest

Some games won’t produce sufficient profits unless you invest enough time and effort into them. If you do not have a lot of free time on your hands, it makes sense to opt for NFT lottery games and such.

— Can you invest money

If you don’t have extra money to invest in NFT games, just look for free options. You can also make money with them, although it may take longer. 

Here’s an algorithm for making money with these games:

— Sign and create a profile 

— Purchase initial tokens using coins or fiat money

— Level up by earning coins and improving the value of existing assets

Generally speaking, the earnings aren’t massive. Mostly these amounts are available in special giveaways. 

— Put items up for sale

After making the deal, you can then withdraw the money you have earned or use it for further in-game advancement.