The Complete Handbook for Making Money with Web3 Crypto Games
The world of blockchain gaming is expanding rapidly thanks to a large amount of funding. In 2024, there was a significant increase in blockchain gaming, 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 increasingly investing in blockchain gaming, viewing it as the next big thing in the gaming industry. The combination of Web3 and blockchain technology has transformed gaming assets into viable financial investments, merging entertainment with finance.
Predictions show that the global market for blockchain gaming will grow to $90 billion by 2030, fueled by the popularity of mobile gaming and dApp usage. The ability for games, platforms, and blockchains to work together seamlessly will attract more users, who will have true ownership of their in-game items. The use of blockchain technology to confirm the rarity and authenticity of NFTs will increase the value of digital assets in gaming.
As interest from both gamers and investors continues to increase, upcoming advancements in gaming will prioritize offering more engaging and immersive experiences that also offer monetary rewards. The emergence of Web3 will change the way games are played by motivating players with not only in-game accomplishments but also with actual financial benefits, bringing developers and players closer in alignment. The concept of blockchain gaming will be particularly attractive to younger individuals who are already comfortable with digital ownership and decentralized financial systems.
Opportunities to Make Money through Crypto Games
Investing in blockchain gaming startups can be a lucrative opportunity for those who have faith in the sector's long-term potential. Early investors stand to gain significant profits if these platforms become popular. Many startups in this industry are exploring play-to-earn models, allowing users to earn cryptocurrency and NFTs while playing games.
Although blockchain gaming is a new and uncertain industry, investing in it can be risky. To reduce these risks, it is important to thoroughly research the project's technology, team, and future plans. Venture capital firms such as Andreessen Horowitz and Galaxy Interactive have already started investing in blockchain gaming, which shows that this trend is gaining validation.
Cryptocurrencies or tokens specific to certain blockchain games are used to support the game's ecosystem. Examples of these gaming coins include AXS for Axie Infinity, SAND for The Sandbox, and MANA for Decentraland. Investing in these tokens allows you to participate in the growth of the game. They are used to purchase in-game items, land, and NFTs, making them vital to the game's economy.
The prices of tokens can lead to investment possibilities, as they may increase in value as the game becomes more popular. Prior to purchasing tokens, interested buyers should examine the tokenomics, upcoming milestones in the roadmap, and how the token is used in the game, as these factors can affect the token's value in the market.
Acquire In-Game Items
A common method of earning rewards in cryptocurrency games is by obtaining in-game items. Play-to-earn games give players the opportunity to earn valuable items such as unique weapons, character customization options, or virtual currency by completing tasks or reaching high scores. These items can then be sold on online marketplaces for either cryptocurrency or traditional currency.
Axie Infinity and similar games are at the forefront of the Play-to-Earn (P2E) model, where players can make money by breeding, training, and battling virtual characters called Axies. The in-game currency earned from these activities can be exchanged for real-world money. Many players are motivated by the opportunity to earn from their gaming skills, but achieving success in P2E games necessitates commitment and strategic thinking.
Participate in NFT trading
NFTs are digital representations of one-of-a-kind items such as characters, weapons, or virtual properties that can be purchased, sold, or exchanged on blockchain networks. In the world of blockchain gaming, trading NFTs can be very profitable for individuals who are able to acquire rare or sought-after items in the early stages.
Non-fungible tokens (NFTs) are bought and sold on websites such as OpenSea and Rarible, where users can either set a fixed price for their items or put them up for auction. Understanding the scarcity, usefulness, and popularity of certain NFTs can be beneficial for making the most profit from trading them. However, it's important to note that the NFT market can be unpredictable and influenced by current
Join in on Tournaments and Quests
A lot of blockchain games hold competitions and challenges that provide cryptocurrency or NFT prizes to the best players. Skilled gamers can potentially earn a significant amount by taking part in these events, particularly if they can demonstrate their in-game abilities and tactics. Titles such as Splinterlands and Gods Unchained are well-known for organizing competitive tournaments with rewards up for grabs.
Aside from receiving rewards, tournaments also promote community involvement by allowing players to create alliances, enhance their gaming abilities, and gain recognition within the gaming community. The amount of money that can be earned through competitive gaming differs based on the game and event, but it is an enjoyable way for players to make some extra cash.
NFT rental is a fresh approach for those who own assets to make money without actively trading. Platforms such as play-to-earn group Yield Guild Games (YGG) enable NFT owners to lease out their assets to players who may not have the funds to purchase them outright.
Renting NFTs is advantageous for both the renter and the lender. Renters can enjoy temporary access to in-game advantages or items, while lenders receive a portion of the profits generated by these assets. This arrangement is especially common for items such as land or characters that are essential for completing quests or progressing in the game. With the expansion of the blockchain gaming sector, the market for renting NFTs is expected to increase, providing more opportunities for NFT holders to earn passive income.
In summary, blockchain gaming is revolutionizing the way players and investors engage with digital entertainment by integrating gaming with financial possibilities. From investing in gaming startups and cryptocurrencies to competing in tournaments or generating income through NFT rentals, there are various avenues for earning money within this industry.
Note from the editor: This article was created with the help of artificial intelligence. It was reviewed and verified for accuracy by Owen Skelton.
Owen Skelton is a knowledgeable journalist and editor who is dedicated to producing informative and interesting 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.
Browse through all the
Some suggested articles you may find interesting include a guide on how to make money with Web3 crypto games and an explanation of the Overtake Airdrop, GameFest Launchpools, and how to earn $OVT. Additionally, information is shared about the mobile fantasy adventure game Legend of Arcadia, which offers play-to-earn rewards, and Immutable Pre-Approved Transactions, which aim to improve gameplay experiences. It is important to note that the content 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 are those of the authors and do not necessarily represent the official stance of NFT News Today.
Sign up for our newsletter to stay updated!
