Earning money from video NFT games has long been a pipe dream for both die-hard and casual players. This is now fully achievable, owing to the rapid advancement of technology. You may write about video NFT games, broadcast your own gameplay, or create your own. You may even become a professional video game athlete and participate in a variety of events if you so want. However, all of them involve considerable effort. What if you could make money just by playing? Enter the world of cryptocurrency gaming.
You’ve undoubtedly heard about a whole community earning a career online by playing NFT video games.
After one resident won PHP 1,000 for 15 days of playing the popular game Axie Infinity, other members of the community joined in on the fun. Given that the quarantine is unlikely to end anytime soon, it’s worth exploring other methods to generate money from home.
To assist you in getting started with NFT crypto gaming, we’ve put up an educational tutorial that covers all the essentials.
NFT is an abbreviation for non-fungible tokens. To grasp the meaning of non-fungible, it’s necessary to first examine the idea of fungibility. This term refers to an asset’s capacity to be swapped for comparable assets of equal value.
Currency is an example of a fungible asset. If you wish to exchange your four five-peso coins for one twenty-peso bill, you may do it at your nearby sari-sari shop. They may vary in appearance, but they both contain the identical PHP 20 value.
Thus, when an asset is non-fungible, it is one-of-a-kind and cannot be simply replaced by another of equal value. For instance, you cannot just print a copy of Juan Luna’s Spoliarium picture. This is why the picture is valuable—it is unique. Thus, non-fungible tokens are essentially one-of-a-kind digital tokens that may be owned, purchased, or sold for any amount of money. The more unique your NFT is, the more money you may earn.
How Do NFT NFT games Work?
NFTs are fully unique cryptocurrencies. They are kept in a blockchain ledger as a string of numbers and letters and include numerous pieces of information such as who owns the NFT, who sold it, and when it was sold, among other things.
Additionally, each piece of data saved in NFTs is encrypted, assuring its legitimacy and scarcity. In essence, NFTs are digital files that have been authenticated using digital certificates. This is why NFTs have developed into a profitable sector, particularly in the art world.
What Are Some NFT Examples?
- Nyan Cat – Yes, the cuddly GIF cat that went popular in 2011 was sold as an NFT for a whopping USD 580,000 on its tenth anniversary.
- Charlie Bit My Finger – Do you recall the viral video of two brothers being the cutest infants you’ve ever seen? It has been converted to an NFT and was sold for GBP 538,000.
- WarNymph – Grimes, an artist, and Elon Musk’s fiancée stunned the art world when she sold her NFT artwork for USD 5.18 million in a couple of minutes.
- NBA Top Shot — The NBA has also joined on board, offering NBA highlights on NFT cards. Its most costly item at the moment is a USD 250,000 Ja Morant dunk card.
What exactly is cryptocurrency gaming?
If NFTs are popular in the world of art, how do they fit into the world of gaming? NFT enables game makers to include real-world stakes in their NFT games. Players may purchase, sell, and trade with other players using cryptocurrency by converting characters and things in the game to NFTs. As a result, cryptocurrency gaming was formed. Visit http://yvkids.org/importance-of-cryptocurrency-in-axie-infinity-video-games/ to read about the Importance of Cryptocurrency in Axie Infinity Video Games.
Cryptocurrency NFT games, often known as play-to-earn games, are a subcategory of video NFT games in which players may spend cryptocurrency to purchase digital products and unlock bonuses that enhance their gaming experience.
What makes crypto NFT games unusual is that, as NFTs, all of the goods you possess in the game are genuinely yours. The makers of the game you’re now playing have no say in what you may do with it, and it’s very difficult for them to take it away from you. Crypto NFT games are more likely to stay active for years if they are supported by an active economy. This means you’ll have plenty of opportunities to purchase, trade, and make money just by playing a game.
How Can You Earn Money by Participating in Cryptocurrency Games?
It varies with each game, but in general, you’ll be paying real money through cryptocurrencies to purchase characters or stuff and play the game.
Each time you win, you get special goods that are either common to the game or unique to it. Additionally, since all goods in crypto NFT games are non-fungible tokens, you may sell some of your more valuable and uncommon items to other players. After that, you may convert your stuff to bitcoin and pay them out in the real world using your favorite cryptocurrency platform.
Cryptocurrency NFT games Available in the Philippines
Platforms: Windows, macOS, Android, and iOS
Axie Infinity is what it would be like if you could make money by playing Pokemon. It’s unsurprising that this NFT games phenomenon grabbed the Philippines by storm in late 2020. You can install the Pokemon game on your Android and iOS by clicking here.
To begin, you must purchase three lovely Axie monsters and combat other Axie teams in order to earn Smooth Love Potions (SLP), which may then be converted to cash. Additionally, you may sell and trade Axies and other in-game products to boost your profits or improve your Axies squad, which results in increased SLPs.
Regrettably, the price of a single Axie has risen to PHP 15,000 as a result of the game’s popularity. If you lack that kind of financial means, you may apply for an Axie Infinity Scholarship. This entails an existing player giving you three Axies in exchange for six to eight hours of playing time every day. You’ll need to agree with your sponsor on a 50-50, 70-30, or 80-20 share of your revenues.
Available in Windows and Android
CryptoBlades is another game that you may test simply by playing it on your browser. It’s a roll-based combat game in which the objective is to acquire SKILL points for every battle via the acquisition and trade of weapons and goods. The more SKILL points you accumulate, the more cash you can withdraw. If you’re the most casual of gamers, CryptoBlades’ laid-back style may be ideal for you.