24 April 2024

Earning Crypto with Play-To-Earn Games

Banking & Finance
| The European |

Play-to-earn gaming is a new type of gaming that has made big waves in the crypto industry. With this specialised type of gaming, players gain cryptocurrency whenever they win or take part. If these types of games interest you, you’ll be happy to know, many play-to-earn games are completely free, so you don’t always need to pay money upfront to earn crypto.

But How Do Play-To-Earn Games Work?
Typically, players can earn crypto by playing the game. This can be done by the following:

  • Staking
  • In-game currencies
  • Generating NFT Items

In the past, players could only stake their chances of winning crypto on random luck games. However, now it’s different. Let’s go through the different ways you can earn crypto.

Staking is where you hold your crypto assets and get them to work for a blockchain network in order to confirm transactions. This will generate you rewards such as in-game items or extra crypto. 

Some games allow you to earn in-game currency and then exchange the game’s currency for crypto. For example, when you complete daily quests in Axie Infinity’s Smooth Love Potion game, you will be able to earn crypto from the in-game currency.

There are other instances in certain games where you can generate NFT items to sell them to other players for crypto. This may be an item or character that you can trade in-game.

How Much Money Can I Make from Play-To-Earn Crypto Games?
Many great games are free to play, but for a lot of the most potentially profitable games, bear in mind you have to invest up front in some initial items which will allow you to play or get you off to the best start. You can be looking at anything between £150 to £600, depending on the provider. Good players should be able to get back their investment within a couple of months or so and then start making profits from then.

Whatever type of game played, for the vast majority of players, it’s wise to look at crypto games as a side hustle rather than a full-time career, but it can earn a great, steady income.

Great Crypto Play-To-Earn Games
Axie Infinity is currently the most played play-to-earn game. Similar to Pokemon, players can collect and battle creatures called Axies for crypto. They can even trade the Axies that they collect as an NFT.

Alien Worlds is another great play-to-earn crypto game. In Alien Worlds, players try to find scarce resources, battle each other, and go on quests. They also have the option to mine for trillium, which is the game’s special cryptocurrency.

Crypto Play-To-Earn Games are Only Getting More Popular
Although this was unheard of only a few years ago, play-to-earn games are increasing in popularity all the time nowadays.

However, you must be aware of the potential risks involved. Always do research on the games beforehand, as some could be scams, high-risk, or low-reward, making it extremely unsustainable when trying to gain crypto.

If you’re a gamer whose investment fancy has been tickled, or just an investor looking at automated crypto trading, then check out ethereum code for a great experience for all your investment needs.

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