A comprehensive guide on how to make money through Web3 crypto games. The gaming industry on blockchain technology is rapidly expanding due to large investments. In 2024, blockchain gaming experienced significant growth, with Q2 alone reaching $1.1 billion, a 314% increase from the previous quarter and a 17% increase from the same period in the previous year.
Major investors, ranging from venture capital companies to large technology companies, are heavily investing in blockchain gaming, viewing it as the future of the gaming industry. The integration of Web3 and blockchain technology has transformed gaming assets into tangible investments, creating a space where entertainment intersects with finance.
Future projections indicate that the worldwide blockchain gaming market will grow to $90 billion by 2030, largely influenced by the popularity of mobile gaming and decentralized application (dApp) usage. The ability for games, platforms, and blockchains to work together seamlessly will enhance the appeal of these games, allowing users to have true ownership of their in-game assets. The use of blockchain technology to authenticate NFT rarity will further increase the value of digital assets in the gaming industry.
As interest from both gamers and professional investors increases, upcoming advancements in gaming will prioritize developing more engaging and immersive experiences with added financial benefits. Web3 technology will revolutionize gameplay by rewarding players not only for in-game accomplishments but also with actual monetary incentives, bringing developers and players closer together. The concept of blockchain gaming will be particularly attractive to younger individuals who are accustomed to digital ownership and decentralized financial systems.
Opportunities to Make Money with Crypto Games
Investing in blockchain gaming startups can be a profitable choice for those who have faith in the future expansion of the industry. Early investors may reap significant profits if these platforms become widely popular. Numerous startups in this field are exploring play-to-earn models that allow users to earn rewards in cryptocurrency and NFT-based economies.
Despite the potential for growth, investing in blockchain gaming carries risks due to its experimental and unpredictable nature. Conducting thorough research on the project's technology, team, and future plans can help reduce these risks and lead to more informed investment decisions. Notable venture capital firms such as Andreessen Horowitz and Galaxy Interactive have already shown interest in this sector, confirming the emerging trend of blockchain gaming.
In blockchain games, there are specific cryptocurrencies or tokens that are unique to each game and help to fuel its operations. By purchasing these gaming coins such as AXS from Axie Infinity, SAND from The Sandbox, or MANA from Decentraland, investors can participate in the growth of that particular game. These tokens are necessary for buying virtual items, land, and NFTs within the game, playing a crucial role in sustaining the game's economy.
The prices of tokens can offer chances for investment, as their value may increase as the game becomes more popular. Prior to purchasing tokens, it is important for potential buyers to assess the tokenomics, roadmap goals, and how the token is used in the game, as these factors can affect its value in the market.
Acquire In-Game Items
A straightforward method to earn rewards in cryptocurrency games is to obtain in-game items. Play-to-earn (P2E) games give players the opportunity to earn valuable items such as rare weapons, character skins, or in-game currency by completing tasks or reaching high scores. These items can then be sold on online platforms for cryptocurrency or traditional currency.
Axie Infinity and similar games have popularized the Play to Earn (P2E) model, in which players engage in activities like breeding, training, and battling virtual characters to earn in-game currency that can be exchanged for real money. Many players are attracted to the idea of making money from their gaming abilities, but achieving success in P2E games necessitates commitment and strategic thinking.
Participate in NFT trading
NFTs are digital assets that signify ownership of one-of-a-kind items such as characters, weapons, or virtual properties. These items can be purchased, sold, or exchanged on blockchain platforms. In the world of blockchain gaming, trading NFTs can be a lucrative opportunity, particularly for individuals who are able to acquire rare or difficult-to-find items at an early stage.
Non-fungible tokens (NFTs) are bought and sold on websites such as OpenSea or Rarible, where users can list their digital assets for sale at a set price or auction them off to the highest bidder. Understanding the scarcity, usefulness, and popularity of certain NFTs can increase potential profits from trading, but it's important to note that the NFT market can be unpredictable and influenced by current trends.
Join in on Tournaments and Challenges
A lot of blockchain games hold frequent tournaments and challenges where players can win cryptocurrency or NFT rewards for their performance. Skilled players can potentially earn a significant amount by taking part in these events, especially if they can apply their in-game abilities and tactics effectively. Games like Splinterlands and Gods Unchained are well-known for organizing competitive tournaments with rewards for winners.
Tournaments provide not only rewards but also opportunities for players to connect with others, form partnerships, enhance their gaming abilities, and gain acknowledgment in the gaming world. The amount of money that can be earned through competitive gaming varies depending on the specific game and event, but it is an enjoyable way to potentially make some extra income.
Leasing NFTs is a novel method for owners of digital assets to make money without actively trading them. Platforms such as Yield Guild Games (YGG) offer the opportunity for NFT holders to loan their assets to players who may not have the funds to purchase them outright.
Renting NFTs is advantageous for both parties involved: those who rent NFTs gain temporary access to in-game perks or items, while the lenders receive a portion of the profits made by these assets. This approach is particularly popular for assets such as land or characters that players utilize to progress through quests or reach new levels in games. With the expansion of the blockchain gaming sector, the NFT rental market is expected to grow, offering more opportunities for NFT holders to earn passive income.
In summary, blockchain gaming is revolutionizing how people engage with digital entertainment by merging gaming with financial possibilities. There are various ways for players and investors to make money in this field, such as investing in gaming startups and coins, taking part in tournaments, or generating passive income through NFT rentals.
Note from the editor: This article was created with the help of artificial intelligence. It was then reviewed and verified for accuracy by Owen Skelton.
Owen Skelton is a skilled journalist and editor who is dedicated to producing informative and captivating content. In his role as Editor-in-Chief, he oversees a team of talented writers and editors to craft compelling narratives that educate and motivate readers.
See all the articles
Possible Articles for You to Read
A Comprehensive Guide to Making Money with Web3 Crypto Games
Understanding Overtake Airdrop: GameFest Launchpools and How to Earn $OVT
Feel free to Share this Article
Additional Stories
Discover Legend of Arcadia: A Mobile Fantasy Adventure that Rewards Players
Learn about Immutable's Pre-Approved Transactions and How They Improve Gameplay Experience
The content found on this blog is intended for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
Sign up for our newsletter to receive updates and
