A comprehensive handbook on making money through Web3 crypto games. The gaming industry using blockchain technology is expanding rapidly with a lot of investment. In 2024, blockchain gaming experienced a huge surge in growth, with Q2 alone reaching $1.1 billion, a 314% increase from the previous quarter and a 17% increase from the same period the year before.

Major investors, including venture capital firms and large technology companies, are showing interest in blockchain gaming as the next big thing in the gaming industry. The integration of Web3 and blockchain technology has transformed gaming assets into valuable investments, bridging the gap between entertainment and finance.

Industry Forecast

In the next decade, it is projected that the worldwide market for blockchain gaming will reach $90 billion, largely influenced by the rise of mobile gaming and dApp utilization. The ability for games, platforms, and blockchains to work together seamlessly will enhance the attractiveness of these games, allowing users to have true ownership of their in-game assets. The use of blockchain technology to confirm the rarity and authenticity of NFTs will further enhance the value of digital assets in the gaming industry.

As interest from both gamers and professional investors increases, upcoming advancements in gaming will center on providing more engaging and immersive experiences that also offer monetary rewards. The integration of Web3 technology will revolutionize gameplay by motivating players with both in-game accomplishments and tangible financial benefits, aligning the goals of developers and players. Blockchain gaming will be particularly attractive to younger individuals who are already comfortable with digital ownership and decentralized financial systems.

Opportunities to Make Money with Cryptocurrency Games

Investing in blockchain gaming startups can be a lucrative opportunity for those who have faith in the industry's long-term potential. Early investors stand to make significant profits if these platforms become widely adopted. Many startups in this field are exploring play-to-earn models, allowing users to earn cryptocurrency and NFTs through their gameplay.

Blockchain gaming is a new and uncertain industry, so investing in it carries some risks. To minimize these risks and make informed decisions, it is important to thoroughly research the project's technology, team, and future plans. Established venture capital firms such as Andreessen Horowitz and Galaxy Interactive are already putting money into blockchain gaming, showing that the trend is gaining legitimacy.

In the world of blockchain games, there are various digital currencies or tokens specifically created for each game. These gaming coins such as AXS for Axie Infinity, SAND for The Sandbox, and MANA for Decentraland are used to fuel the game's ecosystem. By investing in these tokens, players can benefit from the growth of the game. These coins are necessary for purchasing in-game assets, properties, and non-fungible tokens (NFTs), playing a crucial role in the economy of each game.

The prices of tokens can provide chances for investment, as their worth can increase as the game becomes more popular. Prior to purchasing tokens, it is important for potential buyers to examine factors such as tokenomics, the roadmap for development, and how the token is used in the game, as these can all influence the token's value in the market.

Obtain Virtual Items

A common method of earning rewards in cryptocurrency games is through acquiring virtual items. Play-to-earn (P2E) games enable players to earn valuable virtual assets such as unique weapons, character customization options, or in-game currency by successfully completing tasks or reaching high levels of performance. These virtual items can then be exchanged for cryptocurrency or traditional currency on online marketplaces.

Games such as Axie Infinity were among the first to introduce the Play-to-Earn (P2E) model, in which players can breed, train, and battle virtual characters called Axies to earn in-game currency that can be exchanged for real money. Many players find the opportunity to make money from their gaming abilities to be a major motivation, but achieving success in P2E games necessitates commitment and strategic thinking.

Trading non-fungible tokens (NFTs) involves owning digital assets that are unique, such as characters, weapons, or virtual property, which can be exchanged on blockchain platforms. In the world of blockchain gaming, trading NFTs can be highly profitable, especially for individuals who are able to obtain rare or difficult-to-find items at an early stage.

NFTs are bought and sold on websites such as OpenSea or Rarible, where users can either set a fixed price for their digital assets or put them up for auction to be sold to the highest bidder. Understanding the scarcity, usefulness, and popularity of certain NFTs can be beneficial for maximizing 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 Quests

A lot of blockchain games hold tournaments and quests on a regular basis 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, particularly if they can showcase their in-game abilities and tactics. Games such as Splinterlands and Gods Unchained are well-known for organizing competitive tournaments with rewards for the winners.

In addition to prizes, tournaments promote interaction within the gaming community by allowing players to create partnerships, enhance their gaming abilities, and gain visibility in the gaming world. The amount of money that can be earned differs based on the game and competition, but competitive gaming offers an enjoyable opportunity to make some extra cash.

Leasing NFTs is a fresh approach for owners of digital assets to generate passive income without actively trading. Certain platforms, such as play-to-earn guild Yield Guild Games (YGG), enable NFT owners to loan their assets to other players who may not have the necessary funds to purchase them outright.

Renting out NFTs benefits both sides: those who rent gain temporary access to in-game perks or items, while those who lend out their NFTs receive a portion of the rewards produced by these assets. This practice is particularly common for things like virtual land or characters that players need to progress in games. As the blockchain gaming sector expands, the NFT rental market is expected to grow, offering more ways for NFT owners to earn passive income.

In closing, blockchain gaming is revolutionizing how players and investors engage with digital entertainment by merging gaming with financial possibilities. There are various ways 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 by Owen Skelton.

Writer

Owen Skelton is a seasoned journalist and editor who is dedicated to producing informative and captivating content. In his role as Editor-in-Chief, he oversees a skilled group of writers and editors to craft compelling narratives that educate and motivate.

See all of the

Explore these recommended articles:

– Learn how to make money with Web3 crypto games in The Ultimate Guide.

– Discover how to earn $OVT through the Overtake Airdrop in GameFest Launchpools.

– Check out more stories like Legend of Arcadia, a mobile fantasy adventure with play-to-earn rewards.

– Understand how Immutable Pre-Approved Transactions can improve gameplay.

Please note that the information on this blog is for educational purposes and should not be taken 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 to receive our newsletter and stay updated