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How To Make Money With NFT Games?

Written by
Hemendra Singh on November 16, 2022
updated on: November 16, 2022
How To Make Money With NFT Games?

Every year, the video game industry is growing exponentially. According to Newzoo, nearly 3.2 billion people are expected to be involved in crypto gaming in 2022, spending a combined total of $196.8 billion and the biggest part of this amount will be paid in digital assets (in-game purchases).

In recent years, a new trend has appeared in the game world: NFTs, which can be classified as unique digital assets with their own properties. With non-fungible tokens, you can create a new class of video games where every item — be it a monster, hero, sword, or house — is unique and can be owned by a user. If you want to start your own NFT project, hire the best NFT game developers.

Blockchain marketplaces enable the purchasing and selling of digital assets, and gamers can earn prizes with actual worth. They also get true ownership over their in-game assets.

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There are numerous ways to make money with NFT games. The money or earnings you make playing blockchain games depends on the value of the NFTs and in-game currency, and the strategies you employ.

Read on to understand why NFTs are an excellent opportunity for developers and how you can make money playing NFT games.

What are NFT Games?

NFTs are blockchain-based tokens used in video games to represent virtual items. NFTs are unique and transferable on digital platforms, meaning that each token is one of a kind and can be transferred between players. This means each token will have its own value on the market based on its scarcity, utility, and demand.

NFTs are used by developers to create unique items inside their games. With these tokens, developers can make each item in their games non-transferable, creating an economy based on rarity.

Like other cryptocurrencies, NFTs can be purchased, sold, or traded and are kept in a digital wallet. For example, let’s say you’re playing a role-playing game in which players can collect and trade items like swords, shields, and armor.

If the items were fungible, players could trade their swords for shields or vice versa. However, if the items were NFTs, each sword and shield would be unique and therefore the players could trade among themselves and not need to rely on a third party to facilitate the process.

They are sought-after by collectors since they are unique and cannot be duplicated. NFTs can symbolize anything, including video game items and digital art.

The gaming business is where NFTs are most frequently used. Players are making money from their preferred games by buying, selling, or trading in-game assets on the secondary NFT marketplace.

Why Play Non-Fungible Token Games?

Play NFT Games
The digital gaming industry is currently valued at over $100 billion and is growing year after year. With such a huge audience and new technology emerging all the time, developers and studios are constantly looking for new ways to improve their games and engage their players.

NFT games are a great example of this and have plenty of benefits for players and developers alike.

Let’s Take a Look at the Main Benefits of Playing NFT Games:

1. Engagement

Since NFT games use blockchain technology to verify ownership, users can verify and secure their assets. This means they can be more engaged in their games as they’ll feel more in control and be more confident knowing they won’t lose their assets to a fraudulent party.

2. Interactivity

NFTs can be traded and exchanged between players, and this allows for more interactive experiences within crypto games. Players will be able to sell their items or buy new ones, and this will allow them to engage in customization and experimentation in the blockchain game.

3. Real-World Value

Unlike other games that are completely virtual, NFT games have real-world value. Players can buy, sell, or trade their items with other players, and this can be a great way to earn passive income.

4. Ownership

NFTs can be exchanged easily and with confidence knowing that each token is unique and is therefore truly transferable. This can be especially useful for trading assets within multiplayer games to earn rewards and increase your passive income in the blockchain game.

5. Variety

Since each token is unique, there’s a huge variety of items that can be collected and traded. This can be great for players that like variety and don’t want to collect the same items over and over again.

Top 5 Ways to Make Money with NFT Games

If you’re seeking ways to make money with NFT games, you can use any of these strategies. Each of these blockchain games helps you earn money. To get started, pick one or more that match your interests and skill set.

Here are The Top Five Ways You can Make Money with NFT Games:

1. Collecting and Trading Rare In-Game Items

Collecting and trading NFTs is a good way to make money with NFT games. You can achieve this by using best NFT marketplaces to purchase and sell game items.

Additionally, you can get paid for finishing collections and sets. For performing certain objectives, some games can provide you with NFTs that can be exchanged or sold for a profit in a blockchain game.

There are a few things to keep in mind if you’re interested in buying, selling, and collecting NFTs. Find out which NFTs are in demand first by conducting market research. Then, to increase your chance of making more money, compare and buy NFTs.

2. Earning In-game Rewards

In NFT gaming, players earn in-game rewards by playing the game. These can be in the form of coins, items, or virtual currency. They can also be in the form of engagement with other players: by commenting, rating, sharing, and so on.

Many games reward their players with NFTs. For example, Clash Royale is a mobile game where players collect gold to upgrade their cards. When they get enough gold, they can summon legendary dragons to help them fight other players.

NFT gaming is also used to encourage users to play longer and spend more time on their apps. For example, companies can give away free NFTs in exchange for users that take part in an event or survey. By doing this, companies can increase user retention and engagement without having to spend any money.

Another way that companies can use NFT gaming is to reward existing users who have shown loyalty through certain activities such as reviews or purchases. This can be done by giving out NFTs along with a small discount or even an additional reward for using certain features within the app or website.

3. Produce Game-related Content

Twitch streamers, YouTube content creators, and bloggers can earn money by producing content around the game.

YouTube and Twitch are both well-known platforms for game streamers, however, Twitch is more focused on gamers. Despite the crowded industry, becoming a streamer can be a legitimate career.

Just pick a game you’re good at and create a channel to get going. Start broadcasting your gameplay live after that. You can talk to spectators and give them advice on how to get better at your game.

Subscriptions are the main source of income for Twitch streamers. The cost of subscriptions is decided by the broadcaster, and many also take donations to support the operation of the stream. Access to special content and other benefits are available to subscribers. YouTubers can take subscriber donations in addition to the advertising, sponsorships, and views that generate the majority of their money.

Many blockchain gaming broadcasters concentrate on the monetary aspect of cryptocurrency gaming, including tips on how to make money, walkthroughs of blockchain games, or amusing gameplay moments. Crypto Gamers, Go Shiny Hunter, and On Chain Gaming are a few well-known blockchain gaming channels.

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You might be familiar with bitcoin mining when hardware mines bitcoins to be circulated. The mining phase often starts as soon as a new game is released in blockchain gaming. The process of putting the new game’s currency into use so that it may be used for the game is started by miners.

In cryptocurrency, mining is the process of using hardware to solve challenging arithmetic problems in order to build the next block. It’s an expensive and drawn-out process.

You should be aware that mining for bitcoin puts a lot of strain on your graphics processor (GPU). This earning strategy is typically only available to customers with powerful computers that can handle the difficult mining process and have funds for mining setup.

4. Sponsorships and Endorsements

Partnerships and sponsorships with nft game developers, brands, and influencers can help you to make money.

Businesses hire gamers as people are more inclined to trust social influencers than companies promoting themselves. So they collaborate with influencers and content creators to assist you in creating a one-of-a-kind experience.

In NFT marketplaces, they promote your brand by providing an engaging experience. NFTs create a unique way for your brand to communicate with you. As a result, the brand will be more visible, memorable, and, above all, interesting.

5. Taking Advantage of Growing NFTs Market

As the NFT gaming market grows, so will the value of your collection of NFTs. You can later sell these assets for a higher price to make money.

Apart from this, there are a number of ways you can take advantage of the growing NFTs market.

How to and Where to Start Playing NFT Games?

How to Where to Play NFT Games
Before we get into the best nft games, let’s go over how to play them.

First, you’ll need a crypto gaming platform that supports NFTs. Most players choose either the Blockchain or Ethereum platform since they’re known for their security and are recommended for beginner players.

Once you’ve chosen your platform, you can then download the game and create an account. You’ll then need to use some crypto to make a deposit and purchase NFTs. This is the only way you can acquire the NFTs you want in the game.

Once you have them, you’ll be able to trade them, sell them, or use them to level up your characters. You can also earn NFT tokens by completing marketing tasks or by inviting your friends to play

Below is the List of Best NFT Games:

Name of the game Established Year Platforms Genre Tokens
Etherlords 2014 PC/MAC/Mobile Card battle ETHERLORD
CryptoKitties 2017 Web Virtual pet ERC-721
Bridgeworld 2020 PC/MAC/Mobile Metaverse MANA
NFT Champions 2021 PC/MAC/ MMORPG $champ
The axie infinity 2018 PC/MAC/Mobile Creature Battler AXS

1. Etherlords

Etherlords is an online card game that relies on the Ethereum platform. It features its own in-game currency called ETHER and playing the game lets you earn ETHER tokens. The game is free to play, and you can download the game at any time and play whenever you want. It’s a great way to earn tokens while you’re at home or in the office.

2. CryptoKitties

CryptoKitties is a game in which you can collect, breed, and sell virtual cats. Players can buy and sell kittens, and you can even make money with NFT games by selling rare kittens or by breeding and selling new ones.

CryptoKitties is a hugely popular game, and it’s one of the best non-fungible token games available in the gaming industry.

3. Decentraland

Decentraland is an online virtual reality game where you can create your own world or buy land from other players. You can buy and sell parcels of land, or you can build your own VR world and charge other users to visit it. It’s a great way to earn money and engage with other players.

4. CryptoLoans

CryptoLoans lets you earn tokens by loaning money to other players. If you loan money to another player, you’ll be given a reward in the form of CLT tokens that you can use to pay back your own loans. It’s a great way to earn money while also improving your reputation on the platform.

How Much Money Can You Earn With NFT Games?

The potential for income is limitless with crypto games and NFTs. You can use various strategies to make money with NFT games and invest in NFTs.

An individual or player can often make $500 per month in an NFT game. Users are earning about $100 each day on the platform, which is the primary element driving interest.

The amount you earn also depends on the value of the in-game currency, how frequently you play, and, how skilled you are.

In Axie Infinity, new players can earn anywhere from 75 to 300 SLP per day, depending on the mentioned factors. In Bomb Crypto, new players may earn around four to five BCOIN of the in-game currency per run in Treasure Hunt mode.

Breeding initially demands a substantial financial investment. You might need to buy pricey parent NFTs if you want a better chance of breeding.

According to Investopedia, the average CryptoKitty sells for about $65, in the case of CryptoKitties. However, a few have sold for more than $2 million, and some are worth hundreds of thousands of dollars.

Things to be Aware of When Playing NFT Games

The future of non-fungible token games is bright, but there are a few things to be aware of when playing them:

NFT Games Explained

1. Security

NFT games are built on blockchain technology and are extremely secure. This is basically a distributed ledger that will record all transactions permanently and transparently. This technology actually works to protect digital assets, preventing the risk of theft.

These assets can’t be copied or hacked, making them much more secure than standard digital blockchain-based game items. They’re almost impossible to hack, and your assets are safe from malicious third parties.

2. Storage

NFT games use blockchain technology to store their tokens or any other digital asset immutably. This means that the items can’t be manipulated or copied. However, there is still a risk of losing or misplacing them if you don’t follow best practices.

It’s recommended that you store your items in a wallet that is designed specifically for NFTs. It’s essential you select a wallet that is secure and allows you to access your items easily and safely.

3. Taxation

When you win items in an NFT game, they are considered to be capital gains. This means that you will be liable to pay capital gains tax on them. You’ll be required to pay a percentage of the value of the item when you sell it. This means you’ll have to keep accurate records of all of your winnings and losses and report them at tax time.

4. Trading Volume

Many NFT games allow you to trade the items you’ve won with other players. This means you can easily liquidate your digital assets and cash out when you want to. Make sure you do your research before buying or selling NFTs.

Some crypto games even allow you to auction off your items to other players. In this situation, you decide the price of the item and wait for another player to bid on it.

Conclusion

As we have seen, blockchain-based games and NFT technology are new ways to interact with games. They allow you to own unique items that can’t be transferred or traded by other players.

NFTs use blockchain technology to verify ownership, and allow players to earn tokens by loaning money, breeding rare kittens, and much more. If you’re looking for a new and exciting way of play-to-earn games, then NFT games are for you.

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However, it is a great way to earn money by playing crypto NFT games, trading, and exchanging items. If you want to try something new for making money with NFT games, you can start by looking for play-to-earn games that use NFTs.

You can also create your own fantasy football game with NFTs and build an audience from scratch. Now that you understand what NFTs are, you can begin exploring ways to make money with them.

FAQs

A) What is The Most Profitable NFT Game?

One of the most profitable NFT games is CryptoKitties, which allows users to buy and sell kitties using Ethereum. CryptoKitties has raised over $12 million so far, and it’s only been on sale for a few weeks. Each kitty costs a small amount of Ethereum (around $5), but the value of each kitty can increase or decrease depending on the supply and demand of that particular kitty.

B) How Do You Make Money with NFT?

NFTs are a new asset class that allows the transfer of ownership of digital assets. When you are holding an NFT, you are the owner of that particular asset. As such, you can sell or buy it, send it to someone else and make money with it.

In other words, NFTs gives you the ability to participate in the economy using digital assets as a medium of exchange. You can use them to purchase goods and services or you can hold them as an investment. They allow you to store value in a way that is transparent and secure.

There Are a Number of Different Types of NFTs That Exist Today:

1. Crypto Collectibles

Crypto collectibles are digital representations of physical items that can be traded, exchanged, bought, and sold between users. Examples include CryptoKitties, CryptoPunks, and CryptoBlox.

2. Crypto Loan Tokens

These tokens represent debt instruments such as loans and mortgages. In return for lending their tokens, the lender gets a share of the borrower’s future income in the form of interest payments.

3. NFT Loyalty Points

These tokens represent points towards rewards or cash back on purchases made with a certain retailer’s credit card. They reward loyal customers by giving them back some of their hard-earned money over time.

C) What Are the Top NFT Games?

CryptoKitties, Axie Infinity, Gods Unchained, Splinterlands, and the Sandbox 3D are some of the most well-known NFT games out there. They are the most popular and profitable cryptos and NFT projects where you can play and earn crypto money.

Hemendra Singh

My name is Hemendra Singh. I am a Director and Co-founder of The NineHertz, IT Consulting Company. I am having a keen interest in the latest trends and technologies that are emerging in different domains. Being an entrepreneur in the field of the IT sector, it becomes my responsibility to aid my audience with the knowledge of the latest trends in the market.