The comprehensive guide on how to make money with Web3 crypto games. Blockchain gaming is rapidly expanding due to large investments. In 2024, the industry saw a huge increase, with Q2 alone reaching $1.1 billion, a 314% increase from the previous quarter and a 17% increase from the same time last year.
Major entities, such as investment firms and large technology companies, are showing a strong interest in blockchain gaming, viewing it as the direction in which the gaming industry is heading. The integration of Web3 and blockchain technology has transformed gaming assets into tangible investment opportunities, bridging the gap between entertainment and financial sectors
The market for blockchain gaming is projected to grow to $90 billion by 2030, with a focus on mobile gaming and dApp usage. Improved connectivity between games, platforms, and blockchains will enhance the user experience, allowing players to have true ownership of their in-game assets. The use of blockchain technology to authenticate NFT rarity will increase the value of digital assets in the gaming industry.
The gaming community and institutional investors are showing increased interest in future innovations that aim to provide more engaging and immersive experiences with financial incentives. Web3 technology will revolutionize gameplay by rewarding players not only for in-game accomplishments but also with actual monetary rewards, aligning the interests of developers and players. Younger generations, who are accustomed to digital ownership and decentralized economies, will find blockchain gaming particularly appealing.
Opportunities for Making Money through Crypto Games
Investing in blockchain gaming startups can be a lucrative opportunity for those who have faith in the industry's long-term growth. Early investors stand to make significant profits if these platforms become widely popular. Many startups in this sector are experimenting with play-to-earn models, allowing users to earn cryptocurrency and NFTs in these virtual economies.
Blockchain gaming is a new and unstable industry, so investing in it carries a level of risk. To reduce these risks and make more informed choices, it is important to thoroughly research the technology, team, and future plans of a project. Established venture capital firms like Andreessen Horowitz and Galaxy Interactive have already started investing in blockchain gaming, showing that this trend is gaining credibility.
Cryptocurrencies or tokens specific to blockchain games are used to support the game's ecosystem. Investing in these gaming coins such as AXS from Axie Infinity, SAND from The Sandbox, or MANA from Decentraland allows you to participate in the growth of the game. These tokens are necessary for purchasing in-game items, land, and NFTs, playing a crucial role in the game's economy.
The prices of tokens in a game can offer chances for investment, as their value may increase as the game becomes more popular. Before purchasing tokens, individuals should examine the tokenomics, roadmap goals, and how the token is used in the game, as these factors will influence its market value.
Acquire In-Game Items
An effective method of earning in cryptocurrency games is by obtaining in-game items. Play-to-earn (P2E) games enable players 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 money.
Axie Infinity is an example of a game that introduced 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 are motivated by the opportunity to make money from their gaming abilities, but achieving success in P2E games necessitates commitment and strategic thinking.
Exchange NFTs
NFTs stand for non-fungible tokens, which are digital assets that represent ownership of one-of-a-kind items such as characters, weapons, or virtual property. 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.
NFTs are bought and sold on websites such as OpenSea and Rarible, where users can either set a price for their assets or put them up for auction. Understanding the uniqueness, usefulness, and popularity of certain NFTs can increase potential earnings from trading, although the market for NFTs can be unpredictable and influenced by current trends.
Join in on Tournaments and Quests
A lot of blockchain games hold events like tournaments and quests where players have the chance to win cryptocurrency or NFT rewards if they perform well. Skilled players who are good at using in-game tactics and strategies can potentially earn a significant amount by taking part in these competitions. Games like Splinterlands and Gods Unchained are well-known for organizing competitive tournaments with rewards for the winners.
In addition to prizes, tournaments provide an opportunity for players to connect with others in the gaming community, collaborate with team members, enhance their gaming abilities, and receive acknowledgment from fellow gamers. The amount of money that can be earned through competitive gaming varies depending on the specific game and tournament, but it can be an enjoyable way to make some extra cash.
NFT rental is a novel method for those who own assets to make money without actively trading. Platforms like Yield Guild Games (YGG) offer players the opportunity to lend their NFTs to others who may not have the funds to purchase them outright.
Renting out NFTs is advantageous for both the renters and lenders involved. Renters can enjoy temporary access to in-game advantages or items, while lenders receive a portion of the profits generated by these assets. This practice is particularly common for assets such as land or characters that players utilize to progress in games. With the expansion of the blockchain gaming sector, the NFT rental market is expected to expand, providing more avenues for NFT holders to earn passive income.
In summary, blockchain gaming revolutionizes the way players and investors engage with digital entertainment by merging gaming with financial possibilities. From investing in gaming startups and cryptocurrencies to competing in tournaments or generating passive income through NFT rentals, there are numerous avenues for earning money within this sector.
Note from the editor: This article was created with the help of artificial intelligence and was later reviewed and verified by Owen Skelton.
Owen Skelton is a skilled journalist and editor who is dedicated to creating interesting and informative content. In his role as Editor-in-Chief, he manages a group of talented writers and editors to produce compelling stories that educate and motivate readers.
Browse through all available
Recommended Articles
A comprehensive guide on how to make money with Web3 crypto games
Understanding the Overtake Airdrop: GameFest Launchpools and ways to earn $OVT
Share this article with others
More Exciting Stories
Discover Legend of Arcadia: A mobile fantasy adventure game with rewards for playing
Learn about Immutable's pre-approved transactions that ensure uninterrupted gameplay
The content shared on this blog is for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles belong to the authors and may not necessarily represent the official stance of NFT News Today.
Sign up for our newsletter!
