Making money with crypto, every day there seem to be new things that you can do with this. So now, because Crypto games could just become the latest big hype in crypto, just like NFTs are now and shitcoins were before.
That’s right, you heard it right. Today you can make real money doing something you may have been doing every day for years: gaming. So for many, it can be a very interesting way to possibly generate some extra income with what they actually love to do.
But how exactly does this work? How is it possible that you can earn money with games? How to make money with crypto games? How do you get started? And what are its risks? You can read all that and more in this blog!
If you want to know more about play-to-earn, click here for more info.
What are blockchain games?
Blockchain games are, as the name suggests, games that use blockchain technology. This means, for example, that the items you use in the game, such as skins or weapons, can be traded for cryptocurrency.
The blockchain makes it possible for these transactions to take place between players and according to many, blockchain technology is a technology that will really take the gaming industry to the next level.
New games are popping up every day, but there are also many existing, established games that integrate blockchain technology into their game. An example of this is Fortnite.
Which blockchain games are there?
There are many different blockchain games. There are many different types of games and you can earn money with them in many different ways. We will now go into a little more detail on a number of these blockchain games so that you get a good idea of what is available on the market.
First, we look at the biggest blockchain game of the moment: Axie Infinity. Axie Infinity is a popular online blockchain game that was inspired by the wildly popular Pokemon. There are many possibilities in the game and players can collect dolls, which Axies. These are basically just NFTs.
The most important part of the game is the Battle. In this mode, you can fight with your team of Axies against another team of Axies. You can then receive rewards for this when you win of course.
The Battle mode is not the only mode in the game. For example, the Land mode will be coming soon. There is a world, called Lunacia, which is divided into pieces of NFT land. This land can be used, for example, to collect resources, but also to create. These resources are NFTs and you can then sell them again.
You can already invest in this Land mode by buying a piece of land on the marketplace. The price for such a piece of land starts today (June 2022) from 1 ETH. So there is definitely a demand for it!
Another interesting blockchain game is Zed Run. The game is still in beta, but it’s already in full swing. The game allows users to purchase an NFT horse. They can then use this horse in horse races.
In these horse races different horses race against each other. It’s all about which horse gets to the finish line first. This horse then wins the prize pool of the race. This prize pool can come from the amount that everyone puts in, but there are also races that you can participate in for free.
You can also use your horses for breeding. They will then make baby horses and you can use these to race or resell. When you have a horse that is good and often wins races, your horse’s babies are often in high demand and you can sell them for a lot of money.
The game has been booming in popularity lately and especially on TikTok it is very popular. Who knows what the game will bring us in the future.
Another popular blockchain game is Gods Unchained. In fact, it is one of the first blockchain games to be released. It’s an NFT card game. In Gods Unchained, different gods compete with each other.
These can be gods from the time of the Greeks and Romans, but also from Egyptian and Scandinavian mythology. In Gods Unchained you control the game. You choose which warrior you will fight with and which weapons you use.
Through Immutable X you can buy both gods and weapons in the form of NFTs. You can then use these NFTs in the Gods Unchained game. The prices are not that high and you can start quite cheaply.
Do you want to know more about this popular blockchain game? I wrote an extensive article on Gods Unchained.
How can you start making money with blockchain games?
Are you now completely convinced and do you want to get started with blockchain games right away? Then we are of course happy to explain how. It actually consists of 3 different steps, the last 2 of which are actually slightly different for each game, but we will try to explain it to you as clearly as possible.
1. Choose a game
First of all, it is, of course, important that you choose a game. Which game do you want to play? This can of course depend on several things. Would you like a game where you can make the fastest or the most money? Or are you also interested in having fun?
These are all things you have to weigh up for yourself. Which games do you like? Do you like fighting or racing? In any case, we have good news for you: the choice is huge! Every day many new blockchain games are released and you can think of it as crazy and it probably exists.
Make a good choice for yourself and then move on to the next step! Of course, you can also play different games.
2. Connect with the game
When you have made a choice about which game you want to play, you can complete the steps that will allow you to start playing.
Often the first step in this process is connecting your wallet. You can usually do this, for example, with a MetaMask wallet. Do you already have this one? Then you probably know how to connect it. Don’t have one yet? We wrote an extensive article about how MetaMask works exactly and how to create a wallet. Definitely, a must-read!
You are now linked to the game. The next step is really different for every game. With most games, you now have to buy your NFTs. With Zed run this is the moment that you will buy your horse to race with, for example, with Axie Infinity you will now buy your Axies, and with Gods Unchained you will now buy your gods and weapons.
It completely depends on which game you have chosen and what to do next. It is often self-explanatory and otherwise, there is often a manual available for each game.
3. Start Playing (and Earning)
Now that you’ve collected the attributes you can start playing with, it’s time to play your first games. This is also often self-explanatory per game.
You can now enter your first race in Zed Run and your first battles in Axie Infinity and Gods Unchained. Usually, the ‘earning model’ per game is explained to you and you will find out in a playful way.
How much can you earn with blockchain games?
The key question: how much money can you actually earn with blockchain games? There is no single answer. It depends on so many different factors. For example: which game you play, how good you are, whether you end up in the right pots, and so on.
With some games, you can earn a nice side income. At any time there are races going on with a prize pool of, for example, $300.00. However, this prize pool will of course only go to 1 person. Do you often win these kinds of races? Then of course you earn well. It is of course also possible that you never win a race and then the amount remains at $0.
The same goes for Axie Infinity. When you win a lot of battles you can certainly earn a nice amount per day. However, if you lose everything, this amount is quickly a lot lower.
So you should also continue to see it as a game. While it is of course a lot of fun to make money with a game, it is still about the fun when you are gaming. So always keep this in mind. If you’re too concerned with making money from the game, the fun will probably wear off quickly.
The advantages and disadvantages of blockchain games
Like everything else, blockchain gaming has several advantages and disadvantages. The first advantage is that blockchain gaming is extremely secure. We all know by now how secure the blockchain is (you can read exactly how it works here!). When a game is built on the blockchain, it is likely that it is very safe. So it is. The chance that you will be hacked, for example, is virtually zero. That is of course very nice when you are building a whole ‘portfolio’ of fighters, Axies, or race horses.
In addition, the money involved is of course a very nice side effect. You will be paid quickly, unlike maybe with your boss 😉. In addition, there are often nice bonuses or special games that you can participate in, and the principle that you can earn money playing without being a professional is already very nice.
A disadvantage of blockchain gaming is that the games are not nearly as advanced as, for example, the games of Electronic Arts, Activision, or Epic Games. As a result, some people often find blockchain games less fun to play than, for example, games from the aforementioned producers. As we know, developments in the world of blockchain gaming can go very quickly and we expect that the games on the blockchain will be just as good as regular games in no time. Time will tell…
The risk of blockchain games
As with everything in crypto, you can also get into the wrong project with blockchain games. As we explained earlier, the principle of making money with blockchain games is mainly based on NFTs.
NFTs can of course increase in value, but also decrease in value. It is therefore possible that you buy several NFTs, which is worth nothing. For example, if you buy 3 Axies for 0.2 ETH, it may just be that these Axies are only worth 0.05 ETH 3 days later. You never know.
So always be careful with this and do not think that there are only beautiful sides to blockchain games.
Blockchain games have been on the rise lately. In my opinion, it is a very nice development within the world of crypto and it is a way to possibly earn some money with something that may have been your hobby all your life. Who would not want that?
However, making money is not a guarantee, you can even lose money. You should do it only because you like it and not with the intention of making a fortune with it.