Best Ways To Earn Crypto Through Gaming
Today, we can find usage for cryptocurrencies in almost every industry known to man. This was far from being the case 5 years ago. Crypto was reserved for savvy investors and had limited use cases, mainly as online payment vehicles/.
However, thanks to smart contracts, the crypto industry has evolved considerably. Now, blockchain technology can be used for much more than just to purchase bitcoin and is liberally used in sectors such as healthcare, media, insurances, and many more.
In this article, we talk about crypto’s use cases in gaming. We take a look at how these two industries are connected and explore a list of some of the best games that can help you earn crypto. Let’s get started.
How are cryptocurrencies and gaming connected?
It was the Ethereum blockchain that contributed to the exponential growth of blockchain’s use cases with the implementation of smart contracts. Smart contracts are applications that can be executed automatically on the blockchain after a series of prerequisites are met.
This allows us to deploy decentralized applications, but also create fungible and non-fungible tokens (NFTs) on the blockchain. It’s the second type that is extremely interesting for the gaming industry, and here’s why.
NFTs are specific digital tokens registered on the blockchain that can represent anything of value. Their main characteristic is that they are unique and contain a set of characteristics embedded in their metadata that allows us to differentiate them from one another.
In our narrative. NFTs can be used to represent unique in-game items such as characters, avatars, items. The main advantage is that, just like cryptocurrencies, NFTs present an incredible benefit to the user – full digital ownership.
Consequently, players can resell their items or characters on an open marketplace for real money. They can earn NFTs that have value in the real world and monetize the time spent in-game.
Best games for making crypto profits
There are dozens of games where you can make some good profits by earning and reselling NFTs. We selected some of the most popular ones that are not only profitable but also fun to play.
Axie Infinity is a game where players can breed and collect monsters make them fight each other in PvP battles, complete quests, and receive crypto as a reward.
The economy of the game is quite complex. Each creature is an NFT that the user can sell for real money. Then there are two different cryptocurrencies, AXS and SLP (small love potion). The AXS crypto can be used in-game for different purchases and SLP is used to be able to breed new creatures.
Both cryptocurrencies are listed on popular exchanges and can be traded for real money. Finally, players can even purchase virtual land in the game world and sell it for AXS or trade it on the dedicated Axie OpenSea marketplace.
In the past months, while the price of cryptocurrencies was caught in a downtrend, AXS experienced an incredible 9000% rally. Prices went from $15 to $40, making it one of the most profitable ventures for gamers available.
Gods Unchained is a trading card game similar to the popular Magic the Gathering. The difference here is that every card is a unique NFT collectible, that allows its users to sell them on the open market.
Players can earn different cards just by playing and can exchange them online. However, they can also set them up for sale on the immutableX marketplace and earn Ethereum. The game is extremely well-made, with hundreds of different strategies and thousands of deck combinations.
The Sandbox is a virtual world created by the players themselves. Users can buy pieces of NFT land and start creating content using their skills. They can use the tools provided by the platform to make their own 3D games. Other players can visit and play and pay SAND tokens to access the premium part of the game.
In a nutshell, it’s a similar experience to Roblox, but where every item in the world is an NFT and can be owned, sold, and bought by the users.
Our list would be incomplete if we didn’t mention one of the first blockchain collectible games that showed us the possibilities of this technology. Cryptokitties went live at the peak of the ICO craze. Because the game was so popular, it congested the Ethereum network to a crawl.
Gaming and blockchain work extremely well together. Thanks to the versatility of NFTs, gamers can finally be in possession of the virtual items that they worked extremely hard for. Moreover, they can monetize their time spent in a game.
With the Ethereum blockchain switching to a proof of stake mechanism, transaction speeds will get a significant upgrade in the near future. This means that the NFT gaming market is bound to grow even further, providing a better experience and even more opportunities for profit.