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Play to Earn: Top NFT Games to Earn Crypto
For a long time, decentralized Finance (DeFi) took all the attention in the crypto space. Now there's a new kid on the block: GameFi. The crypto GameFi sector is already worth billions of dollars, fuelled by the hype around play-to-earn innovations and the metaverse.
Many people are making big bucks from NFT games and you don't have to be an exception. The biggest crypto games have already amassed millions of dedicated players. You can join the fray by buying their utility tokens and pitting your wits against other players. If you're good, you can earn a steady stream of cryptocurrency rewards which you can then sell on an NFT marketplace, or on an exchange.
For newbies to the scene, knowing what NFT games are and knowing how and where to buy chain games crypto is important.
What Are Crypto Games?
Playing NFT games has become a legit source of income. These play-to-earn crypto games blend gaming on the blockchain with a reward economy. Players are rewarded with real money for progressing through game levels, winning contests, or simply playing the game.
In traditional gaming, experience points and game assets like weapons, skills and skins have no monetary value beyond the game. In P2E games, you can sell your tokenized game assets (NFTs) for real money. Their value also obeys the standard laws of demand and supply.
Aside from the game assets, playing games can also net you liquid rewards in form of the in-game utility currency. For the more popular games, these tokens are already listed on exchanges so you can sell them off easily for cash. Moreover, the game sector in crypto keeps expanding so you can hold and stake the tokens to earn even more and sell at higher value.
All NFT games are built atop existing blockchain infrastructure. The Ethereum blockchain remains the most popular crypto network for GameFi. Others like Binance Smart Chain, Solana, and Flow also play host to significant crypto game projects.
How to Buy Chain Games Crypto
Most of the NFT games out there require users to have either the native token of the blockchain or the utility token of the game, to begin. This begs the question of where to buy these tokens.
For blockchain tokens like Ether, Solana, KRRX and BNB, you can easily buy them from a centralized exchange. You can also get them from chain-focused decentralized exchanges using the compatible version of a stablecoin like USDT, USDC or BUSD.
What about the in-game tokens? If you're wondering "where can I buy chain games crypto?", wonder no more.
Some game utility tokens can be bought from popular centralized exchanges. They are very popular and have outgrown their original game ecosystem to become normal cryptocurrencies for investors and speculators. Examples are Axie Infinity (AXS), The Sandbox (SAND), Rune (RUNE) and Decentraland (MANA).
Some other NFT games are still in the early stages of development and/or are less mainstream in the crypto world. Most of these can only be bought on niche exchanges like Gate.io or decentralized exchanges linked to the native blockchain platform.
Once you've got your tokens, the next step is to visit the website of the NFT game and start competing with other players.
Top NFT Games to Earn Crypto
Here are seven popular blockchain NFT games that offer players the chance to earn big rewards.
1- Axie Infinity
P2E games already existed on the blockchain but the rise of Axie Infinity took things to a whole different level. Axie Infinity is one of the top NFT games inspired by Pokémon.
The social-style game is built atop the formidable Ethereum blockchain. It has two associated tokens, Axie Infinity Shards (AXS) and Smooth Love Potion (SLP). AXS is the governance token that gives holders the right to take part in community decisions. SLP is the main in-game currency akin to experience points. Users require SLP to breed new digital pets, or axies. Each level of breeding requires extra SLP tokens, up to 2100 tokens for the seventh and final breeding level. Some AXS is needed as well to begin.
Axie Infinity is the most popular method to earn crypto playing games right now. It has more than a million users and generates one of the highest gaming rewards. Players compete with one another with their team of unique NFT-based creatures called Axies. There are two main completion modes. The Arena mode pits players against one another while the adventure mode involves fighting enemies and progressing through levels.
What sets Axie Infinity apart is its interesting take on P2E dynamics. Each level of breeding creates new Axies that are essentially "descendants" of the previous ones and inherit their "DNA".
Competing isn't the only way to earn money from this game. You can also trade Axies in the game marketplace. The rarer and most unique ones change hands for sizable sums. If you get lucky, you can obtain rare parts to breed axies and either keep or sell.
2- Gods Unchained
Ethereum-based game, Gods Unchained, is perhaps the most popular free-to-play NFT game out there. While many crypto games integrate P2E mechanics right from the beginning, this card-based game allows users to jump into the experience for free.
The core game system is based on players competing with a deck of cards. There are two cards in the game: core cards and genesis cards. Core cards can be acquired by players simply by playing the game and winning battles. Players who want to advance more quickly can buy card packs from the game marketplace. These are called genesis cards; they were sold before the formal launch of the game. So, if you want to skip grinding in the game, you need to buy a genesis card pack from someone else.
Gods Unchained is built atop the Ethereum layer-2 solution Immutable X. The game uses Ethereum for trading on the marketplace. Cards are priced by rarity.
The low barrier to entry makes Gods Unchained one of the best crypto games for beginners. You can learn the basics of NFT games at your own pace. No pressure to beat other players or open your wallets to join in the fun. You're matched with gamers at your own level. Beat them and you gain more XP and move up a tier. When you level up, you're welcomed with a brand new pack of cards which you can use to do battle with others at this new level.
However, to fully immerse yourself in the game experience, you need to have some GODS tokens. GODS is the native token of the game and required to craft NFTs. You can also use it to buy stuff from the marketplace or stake it to earn more rewards. And if you love the game and wish to become a long-term player, GODS token gives you the power to join community governance and provide input into the game's future trajectory.
3- The Sandbox
The Sandbox is a 3D crypto virtual universe where players can create and trade virtual assets. The Sandbox is one of the most hyped NFT universes that promises a beautiful and profitable metaverse experience for players.
In the Sandbox, players can create their own virtual games and set the rules and rewards. This makes the platform a kind of hybrid game creator kit blended with crypto NFT mechanics. It's a vibrant, vivid landscape of self-expression where users can test the limits of their own imaginations.
Anyone can mint, customize, trade or utilize voxel objects in the Sandbox universe. A voxel is a unit of three dimensional graphics. The open world of the Sandbox features 3D NFTs.
If you've ever wondered what Minecraft or Roblox might look like on the blockchain, look no further than this game. Here, you can create games within games and worlds within worlds. Everything runs on the powerful Unity engine that renders everything in crisp-smooth graphics.
Like some of the other popular game projects, the Sandbox is built on the Ethereum blockchain. Every default or created NFT in the game is an ERC-721 token. Creators can upload their creations to a compatible marketplace. The Game Maker tool enables them to add NFTs to a template and fashion custom gaming experiences.
The world of The Sandbox is divided into units of LAND. Players can buy land and develop it in any way they want and sell it when the value appreciates. Sand is the utility token of The Sandbox. It is used to buy land and assets in the game marketplace.
The value of the Sand token is trading around 5 dollars, up 17,000% year-on-year. This comfortably places it among the top 3 crypto game coins and reflects the enduring hype around The Sandbox.
4- Star Atlas
Bring an online multiplayer, a space thriller, the blockchain, DeFi and Unreal Engine 5 together and you get Star Atlas. This game is one of the most anticipated creations in blockchain gaming history. Every trailer to date spawned paroxysms of excitement among fans drooling at the promise of high-octane action rendered in cinematic quality.
The developers of Star Atlas claim it will be a grand strategy game of space exploration, territorial conquest, and political domination. There's no reason to doubt their intention based on what's been released so far. You can join one of three factions, take command of a spaceship, and cruise around deep space. You will encounter friends, enemies and rival organizations; hunt for legendary relics in obscure planets, witness alliances forged and epic battles for control of strategic planets and space regions.
During your voyages, you'll come across assets which you can keep for yourself, upgrade for use, or sell on the Galactic Marketplace. You can fly solo or join a player organization to overwhelm opponents through strength in numbers. Ships, suits, power stations and other tools can be upgraded to increase your chances of becoming the lord of the skies.
Star Atlas has two in-game currencies. The first, ATLAS, is used to buy and sell in the Galactic Marketplace. NFT game equipment like ships, suits and weapons can be exchanged for ATLAS. The second token, POLIS, will function as the currency of player-created in-game space cities.
5- Alien World
Alien World is another popular P2E platform that incentivizes gaming on the blockchain. It's a decentralized NFT metaverse where players try to outfox each other to acquire scarce resources.
Like Star Atlas, Alien Worlds revolves around planetary space exploration. Unlike Star Atlas, the action elements are more muted in favor of strategy and role-playing elements.
In this blockchain browser game, you are an adventurer and acquiring Trilium is your goal. Trilium, or TLM, is both the utility token of the game and the scarce resource. players fight over. You're expected to navigate to distant planets to mine TLM and collect rare NFTs. You can sell NFTs on the marketplace and stake or sell your TLM on an exchange.
6- Illuvium
Illuvium is one of the most popular games on the Ethereum blockchain. It combines features of traditional exploration games with online PvP and P2E elements to create a virtual world where players battle each other and strange creatures known as illuvials.
Illuvials are the residents of the world of Illuvium. Players need to battle, defeat and capture them. Thereafter, each conquered illuvial becomes a part of the player's team and will fight for them against other players.
The game rewards players for exploring and capturing various exotic beasts and developing them into a powerful winning machine. Player winnings increase as they defeat others and climb the leaderboard. The utility token, ILV, is given to players based on their achievements and can be sold on cryptocurrency exchanges.
7- Splinterlands
This game is another addition to the growing list of free-to-play card games on the blockchain. Aside from being one of the most popular crypto games for card lovers, Splinterlands operates on its own customized blockchain. This gives it a high degree of stability. Moreover, it is a cross-compatible game that works on the Ethereum, Tron and WAX chains, increasing exposure and playability.
Similarly to Gods Unchained, you earn rewards in Splinterlands by winning card matchups. Once you've bought your starter card pack, you can start earning rewards by participating in different activities like daily quests, ranked play, and tournaments.
There are around 300 unique cards in the game and you may be lucky to get one of the rare ones on your first purchase. You can combine cards for power boosts. You can also use cards with different stats together to achieve different effects. You can join one of the factions in the game and unleash special abilities to defeat opponents.
NFT Games at a Glance
There are several types of NFT crypto games and knowing them will give you a better idea of where to start your blockchain gaming journey.
Play to Earn NFT Games
This is now the dominant type of game in the crypto space. P2E NFT games invite the player to play and earn rewards. Despite little variations in the setup, all games in this category attract users by adding a monetary incentive to winning battles, scaling levels, and progressing through the game.
Free to Play NFT Games
Free-to-play games may or may not feature P2E elements. Their main distinction is the zero barrier to entry. A F2P game like Gods Unchained doesn't need the player to pay or buy anything to start. The player gains in-game assets as they move through the game. However, they can choose to buy game packs to speed up their progress.
Play to Win NFT Games
Play to win is a niche category that caters to players with a win-at-all-costs mentality. In this type of game, the best in-game tools that offer the highest chance of winning are put behind a paywall. Users must spend from their pockets to acquire these items or else get stuck grinding on the lower levels.
Looking Towards the Future
Each day brings a new crypto game trying to take advantage of the GameFi and metaverse hype. NFTs, having found a use beyond simple trading, are playing a more prominent role in crypto. Players all over the world have turned to P2E games to find that perfect blend of work, play and profitability.
Needless to say, as more attention turns towards this space, early adopters are primed to make the most gains. And as the most popular crypto games get more exposure, the barriers to entry for a newbie get progressively higher. For a first timer to blockchain gaming, it might be better to give the highest ranked games a wide berth at the beginning. You can instead hone your play-to-earn skills in games that are free to start or cheap to get into.
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Tokenomics 101: Explaining the Basics and Beyond of Token Economy
Tokenomics, a fusion of 'token' and 'economics,' refers to the economic principles and models underpinning digital currencies within the blockchain sphere. This intricate ecosystem encompasses various factors such as token supply, demand, distribution methods, and overall market valuation, playing a pivotal role in the sustainability and success of cryptocurrency projects. Unlike traditional economies, governed by centralized financial systems and regulatory bodies, tokenomics operates within a decentralized framework, offering innovative approaches to value creation, transfer, and management.
As the digital asset landscape continues to expand, understanding the fundamentals of token economy becomes crucial for investors, developers, and enthusiasts alike. This article aims to demystify tokenomics, guiding you through its core components, real-world applications, and the impact on the broader crypto economy.
Tokenomics and token economy
Tokenomics represents the study and structural framework of a token's economy within the blockchain sphere, encompassing aspects like supply, demand, distribution, and valuation. In this system, the token economy operates under a unique set of rules and mechanisms distinct from traditional economies. Supply refers to the total quantity of tokens available, which can be fixed like Bitcoin's 21 million cap, or variable as seen in some governance token models. Demand is influenced by the token's utility, perceived value, and market conditions.
Distribution entails how tokens are allocated or issued to users, investors, and the project's team, which can significantly impact the token's initial and ongoing valuation. Valuation, meanwhile, derives from market perceptions, utility, and the token's inherent properties, such as security features or governance rights.
Unlike traditional monetary systems controlled by central authorities, the token economy leverages blockchain technology to enable a decentralized, transparent, and secure environment. Here, market dynamics are not influenced by central bank policies but by code, community consensus, and decentralized protocols. This paradigm shift from centralized to decentralized finance represents a significant evolution in how value and economy are conceptualized and managed within the digital age.
Key Components of Tokenomics
Tokenomics delves deep into the operational and economic facets of tokens within blockchain projects. Understanding these components is critical for grasping how tokens gain and maintain their value.
1- Minting
The process of minting involves creating or generating tokens within a blockchain project. Different protocols have varied methods; Bitcoin, for example, rewards miners for validating transactions, thus "minting" new coins. Ethereum initially distributed Ether through an Initial Coin Offering (ICO), but also mints new Ether as rewards in transaction processing. The method of minting impacts the initial and ongoing supply of tokens, influencing scarcity and value.
2- Utility
Tokens must serve a purpose within their ecosystems; this utility drives demand. Bitcoin's primary utility is as a digital currency, while Ethereum's Ether is used to perform transactions and run applications on its network. Other tokens might grant voting rights in project governance (governance tokens), access to services, or act as a stake in decentralized finance (DeFi) platforms.
3- Supply and Demand
The principles of supply and demand heavily influence token economics. If a token has a capped supply (like Bitcoin), scarcity can increase demand, potentially raising its value. Conversely, if a token's supply is vast or infinite, its value might be lower unless there is significant demand. Market perception, technological advancements, and broader economic factors also play into this dynamic.
4- Distribution and Allocation
The method of token distribution can affect its long-term value and security. Initial allocation might occur through public sales (ICOs or IDOs), community rewards, or allocations to founders and early investors. Projects like Solana and Cardano have allocated significant portions of their tokens to insiders but have maintained public interest through transparency and project utility.
5- Vesting and Inflation
Vesting schedules and inflation control are critical for maintaining a token's value and ensuring project longevity. Vesting prevents market flooding by slowly releasing tokens to developers or investors, maintaining stability. Projects can control inflation through mechanisms like token burning or halving events, as seen with Bitcoin, which undergo periodical "halvings" reducing the reward for mining new blocks, thus controlling the rate of new token introduction into the ecosystem.
Each of these components must be carefully balanced to create a sustainable and successful tokenomics model. Missteps in any area can lead to issues like rapid devaluation, lack of interest, or even project failure.
Examples of Real-World Token economy in Action
Tokenomics comes to life in various blockchain projects, each employing unique strategies to enhance their ecosystem's value and usability.
Ethereum
As a pioneer, Ethereum revolutionized the blockchain space by introducing smart contracts. These are self-executing contracts with the terms of the agreement directly written into lines of code. Ethereum's token, Ether, serves primarily as a utility token, necessary for conducting transactions and executing contracts on the Ethereum network. Its initial distribution was through an ICO, establishing an initial supply that has since increased due to block rewards. Ethereum's shift from Proof of Work (PoW) to Proof of Stake (PoS) in the Ethereum 2.0 upgrade impacts its tokenomics by changing the reward structure and potentially reducing the rate of new Ether creation, influencing scarcity and value. Transaction fees, known as "gas," also play a crucial role, as they vary based on network demand, adding an economic layer to operation prioritization.
Solana
Known for its incredible speed and lower transaction costs, Solana has emerged as a highly efficient blockchain platform. Solana's native token, SOL, is used to pay for transactions and for staking as part of its Proof of History (PoH) and Proof of Stake (PoS) hybrid consensus mechanism. The initial supply was determined at its launch, with ongoing emissions governed by inflationary policies aimed at incentivizing validators and stakers. Solana has a deflationary aspect as well, where transaction fees are burned, reducing the total supply and potentially increasing the value of remaining SOL tokens over time.
Cardano
Cardano differentiates itself through a strong emphasis on peer-reviewed academic research and formal methods in its development process, ensuring a high degree of security and scalability. ADA, Cardano's native token, is used for transaction fees and staking within its PoS consensus mechanism, Ouroboros. The initial supply was set during its ICO, with a defined maximum supply cap to prevent inflation. Staking ADA not only supports network security and operation but also rewards users, distributing new ADA created through inflation and transaction fees based on their stake. The design aims to balance between rewarding holders and ensuring long-term sustainability, reflecting Cardano's research-driven approach to blockchain development.
Diverse approaches to tokenomics can significantly impact a project's success and the value of its associated tokens. Each project's unique strategy — whether focusing on technological innovation, efficiency, or academic rigor — plays a critical role in shaping its token economy and overall ecosystem.
Impact of Token economy on Investors and Projects
Token economy significantly influences both investor decision-making and the overall success of cryptocurrency projects. Investors scrutinize tokenomics for insights into a project's long-term viability, supply scarcity, and potential return on investment. They assess factors such as token distribution, utility, and inflationary controls to gauge the risk and potential growth of their investments. A project with clear, fair token distribution and a practical utility for its token is more likely to attract and retain investors.
For projects, well-structured tokenomics is crucial for sustainability and achieving set objectives. Proper tokenomics ensures that the project is adequately funded and that incentives are aligned between the developers, users, and investors. It helps maintain a balanced ecosystem where tokens circulate effectively, facilitating transactions, rewarding participants, and funding continued development. The long-term success and adoption of crypto projects heavily depend on their tokenomic models, which should be designed to support growth, stability, and engagement within the ecosystem.
Trends and Challenges in Crypto Token Economy
Trends already influencing token economics include the integration of governance tokens, enhancing decentralized decision-making within projects. These tokens empower holders with voting rights on project developments, potentially increasing user engagement and investment in the project's future. Additionally, the trend towards deflationary token models, where the total supply decreases over time, could create scarcity, driving demand and potentially increasing token value.
Another emerging trend is the use of layer-two solutions and cross-chain interoperability to enhance transaction efficiency and reduce costs, directly impacting the utility and attractiveness of a project's token. However, these advancements come with challenges, including regulatory uncertainty and the need for robust security measures to prevent fraud and ensure user trust.
However, creating a balanced and sustainable token economy remains a complex challenge. Projects must design tokenomics that incentivize participation and growth without leading to over-centralization or excessive inflation. They must navigate these waters while maintaining compliance with an ever-changing global regulatory landscape, which can significantly impact token valuation and project operations.
Conclusion
Tokenomics is essential in assessing a cryptocurrency's potential. A well-designed economic model can lead to a project's success, while a poor one can doom it. For investors and creators alike, a deep understanding of tokenomics is crucial in navigating the burgeoning field of digital currencies.
For more info and trendy articles check our Crypto Blog.
5min reads
Kyrrex Seizes Esports: Discover Cryptothlon
At Kyrrex, our quest for innovation and growth extends beyond cryptocurrency transactions. We understand the immense potential and transformative power of the gaming industry, meta universes, and NFTs within the dynamic crypto landscape.
For some time, we have been meticulously developing Cryptothlon, an intriguing game platform that harmoniously melds together elements of a metaverse and an online game. In this post, we're excited to delve deeper into this promising project and introduce our community to the numerous possibilities Cryptothlon brings to the gaming and crypto areas.
Dive into the Cryptothlon Arena
In Cryptothlon, the future of esports takes form in an action-crafted arena. Here, each participant will be able to customize their very own Crypto Athlete and Cyberjet, forging unique strategies before they step foot on the competitive scene. This is not just a game; it's an all-encompassing experience where players gain direct control over the development and progress of their digital Athletes, who are empowered with unique characteristics and abilities.
Navigating the Cryptothlon Universe: Token Integration
One of the groundbreaking features of Cryptothlon is its integration with NFTs and our proprietary KRRX token system. With these, player customization and rewards will reach new heights. Depending on the division, players will have the chance to participate in various tournaments and collect bonuses that directly influence the performance of their Athletes and Cyberjets. Furthermore, these rewards have a significant impact on the platform's economy, driving up the value and attractiveness of participation.
The Ecosystem of Cryptothlon
Cryptothlon is more than just a game; it's an ecosystem. From battling bots or facing off against fellow enthusiasts in multiplayer championships to earning from prize pools. Each player's experience is unique. The player's autonomy extends to Cyberjet part customization for maximum performance and the ability to trade equipment and modules on the market. These exciting features create an immersive, flexible environment where the potential for triumph and rewards is limitless.
More Surprises Ahead
Cryptothlon development is in progress. At Kyrrex, we are committed to consistently evolving in the gaming industry, and we have many surprises in store for our gaming enthusiasts, particularly within the metaverse.
With Cryptothlon, we are embarking on a new era of esports where every player has the power to own, compete, and develop. We will share more details on the project later this year. And don't forget to have your KRRX tokens ready so you can take full advantage of this captivating gaming universe.
4min reads
NFT Will Make You Tons Of Cash. Here's How!
Let's not kid ourselves: everybody is in crypto to make money. Be it venture capital or retail investors, the ultimate goal is profits, lots of it. Enough profits to retire for good on some sunny beach in South America.
Okay, fine, there are more noble goals in cryptocurrency beyond the pursuit of more wealth. There's decentralizing the means of exchange away from government and corporation control. There's the building of next-gen internet apps on blockchain technology. There's various novel approaches to finance, games and real estate. And there's the ongoing exploration of the blockchain-based metaverse.
Most people who jumped early on the bandwagon of projects like the above have already smiled to the bank. Cryptocurrency has made millionaires out of many; it will make many more. One of the newest and best ways to accumulate huge gains in crypto is through non-fungible tokens (NFTs).
NFTs combine blockchain tech and the idea of collectibles into a unique token of burgeoning popularity. They're the latest money-spinning method in crypto for those who are savvy enough to take advantage.
In this article, we'll show you six ways NFTs can make you tons of cash:
1- Invest in an NFT collectible
Non fungible tokens manifest mainly as digital collectibles of various types. They are uploaded on special marketplaces where traders can transfer ownership by buying and selling. An NFT marketplace works similarly to a platform like Amazon. Prices are either fixed or the auction method is used.
The big deal about buying a solo NFT or part of a collectible is that you can flip it later at higher prices. Much like you can buy a traditional cryptocurrency like bitcoin and sell it when the price is higher, you can do the same with NFTs. The risk, of course, is that demand for the item you hold might wane, pushing the price lower.
This is why you should research any NFT project before you invest in it. Class-A NFTs like CryptoPunks and Bored Ape Yacht Club might be beyond most people now but there's a ton of other solid collections to invest in.
Again, knowing the right time to pull the trigger and sell off the NFT is key. We don't want to be saddled with a collectible that no one wants to buy.
Once you've decided which non-fungible token to invest in, you can make your way to OpenSea, Rarible or another marketplace and make your purchase. Once you're ready to sell, simply list your item at the price you want. Once someone buys it, the payment will be transferred to your wallet.
2- Mint an NFT
Rather than investing in a collectible, why not mint one yourself? Given that you can create an NFT by yourself, nothing stops you from making cool money by launching your own NFTs. You can either list a single digital collectible or make it a collection.
If you're an artist, you're in luck. NFT artworks are selling like hot cakes with crypto investors looking for alternative ways to spend their profits. With good art and graphics skills and marketing savvy, you can attract publicity to your NFTs and get rich selling them on a marketplace.
Most NFTs use the ERC-721 standard, an Ethereum protocol, to encode information though other networks like PolkaDot and Solana are seeing some use. You need some Ethereum, a compatible wallet, and the items to transform to NFTs, to begin. Head over to a marketplace and mint your collectibles. You can then list them for a price.
Jack Dorsey sold an NFT of his first tweet for $2.9m. You can find takers for your own memorabilia, if they are memorable enough. Photos, videos, music, memes, tweets, artwork, documents and other things can be listed as NFTs. The list is endless.
3- Buy an NFT Token
Another way to benefit from the non-fungible token revolution is to buy… a fungible token! In particular, a fungible token associated with NFTs. As the use case for NFTs expand, lots of projects now incorporate these tokens as the central component of their ecosystem.
You can benefit from this by investing in a cryptocurrency linked to an NFT project. As the project gains in popularity and hype, its associated token is likely to increase in value. Game, metaverse and real estate projects have seen their values skyrocket to unprecedented levels over the past year. The trajectory of the NFT space remains upwards for the foreseeable.
You can maximize your gains from NFTs by looking for solid projects still in their infancy and investing in their tokens. And if you'd rather jump on a moving train, there are lots of popular NFT projects in the mainstream. You can bet on their prices going even higher, despite the huge gains they've already made.
We've listed 5 of the most popular tokens associated with NFTs:
Decentraland (MANA)
Mana is the utility token of Decentraland, an NFT real estate platform operating since 2017.
- January price: $0.07
- December price: $3.64
- All time high: $5.90
Axie Infinity Shards (AXS)
Axie Infinity is a trading and battling game on the blockchainthat plays like pokémon. AXS is its governance token.
- January price: $0.41
- December: $105
- All time high: $165.37
The Sandbox (SAND)
The Sandbox is a multilayered NFT p2e platform that provides a 3D environment where users can function as gamers, creators and traders.
- January price: 0.03
- December price: 6.70
- All time high: 8.44
Enjin Coin (ENJ)
Enjin Network is a social gaming platform built to provide the most comprehensive gaming experience on the blockchain, including the use of NFTs.
- January price: $0.12
- December price: 3.03
- All time high: 4.85
My Neighbor Alice (ALICE)
My Neighbor Alice is an NFT multiplayer game on the Binance Smart Chain. Players buy islands, build on them, and simulate other social activities.
- Launch price: 3.19
- December price: 14.20
- All time high: 42.55
Looking at the past and current prices of these and similar projects, it's evident that investing in the right NFT project can be potentially life-changing.
4- Play NFT Games
If you're not deep-pocketed, you can still make massive gains from NFTs by engaging in gaming activities on the blockchain. There are literally dozens of crypto-based games offering some form of rewards for productive gameplay.
There are various models of NFT games at the moment. Play-to-earn games reward you in crypto for playing games. This can simply be by completing objectives or by progressing far enough in the game to unlock rewards.
A different model is play-to-win. In this game, users pit their wits against one another and the winners take the prizes on offer. This is a common system in games that use racing and sports elements.
Your rewards for playing games could be a currency like Ethereum, the platform's utility token, like TLM in Alien Worlds, or non fungible tokens which you can either keep or sell. If you're a gaming pro, you can monetize your skills and amass a small fortune from crypto.
To start making money from games on the blockchain, it's better to find a game you like or can quickly learn. Typically, you need some of the platform's utility tokens to start with. These will go into buying the virtual equipment you need.
Here are some popular NFT games you can play and earn from right now:
- SplinterLands: a multiplayer collectible trading card game.
- Alien Worlds: a play-to-earn social simulation game in the metaverse.
- Axie Infinity: a pokémon-inspired game where users breed and battle with virtual pets called axies.
- Farmers World: an innovative P2E farming simulator.
- Star Atlas: a space exploration, combat and community game on Solana with next-gen graphics.
- Bomb Crypto: a virtual universe on the blockchain where players control cyborgs to hunt the in-game token and fight monsters.
- CryptoBlades: a monster-based RPG with solo and cooperative elements.
- Thetan Arena: a player-vs-player multiplayer online battle arena game with various modes gamers can earn from.
- Gods Unchained: one of the most popular card-based blockchain games.
Established NFT games will likely be more expensive to play. If you're a beginner, you can start your NFT earning experience with newer and cheaper games.
5- Buy NFT real estate
Virtual real estate is looking like the next big thing in the NFT space. You can find them on a decentralized virtual metaverse platform that allocates land to buyers who then go ahead to build whatever they want.
There are dozens of metaverses you can visit and invest in. The metaverse is a persistent 3D universe where you can play, work and socialize using a digital avatar. Imagine taking the dog for a walk, attending a concert and hanging out with friends all while relaxing on the couch in your house.
From an economic perspective, the metaverse has huge potential for the canny investor. You could buy a piece of real estate on a metaverse platform, and sell it for a profit when demand increases. You can even develop it into a virtual garage, cinema, or shopping mall and make money from the building.
If you're excited by the possibilities, you can start your journey on these metaverse platforms:
Decentraland
Decentraland is the most popular crypto real estate platform and by far the most developed. It has over 20 million active users and has already played host to big events like concerts and auctions.
There are 90,000 plots of land on Decentraland and the choicest pieces have been snapped up already. You can visit the Decentraland marketplace to check land for sale. If you find one you like, you need to pay using MANA, the platform's utility token.
Real estate on Decentraland doesn't exactly come cheap. At the current price of MANA, you need around $12,000 to buy a parcel of LAND on the platform.
Upland
Upland is another metaverse platform that deals in virtual real estate. Upland wants to be a digital version of earth. Properties on the platform replicate a real-world address. So you can buy virtual copies of famous places in New York or Los Angeles.
Cryptovoxels
This is another platform where you can buy, sell or develop properties. It's a user-owned virtual world on the Ethereum blockchain. Buyers are encouraged to develop stores, art galleries and other useful structures on their parcels. This platform focuses on art-centric buildings like museums, studios, galleries that can host virtual art fairs or house artworks for virtual tourists to admire.
6- Participate in NFT Airdrops
Everybody loves freebies, and if you can flip them for serious money, even better.
You don't have to buy or create an NFT to own one. You can participate in airdrops and similar programs that reward you for your time, followership or promotion with a free NFT.
The Crypto Punks NFTs, for example, were given out for free. Some are now worth millions of dollars. Some popular brands like Pepsi have also held free NFT promotions that can now be bought on OpenSea.
Just like cryptocurrency airdrops, NFT airdrops occur frequently in the crypto world. You can monitor a platform that tracks upcoming drops to learn how to participate. In some instances, you need to fulfil conditions such as holding a certain type of cryptocurrency, to be eligible for a drop.
If you're lucky, you can land a unique or rare NFT that's in high demand and trade it when the hype is loudest.
Conclusion
Contrary to popular opinions, NFTs don't begin and end with collectibles and digital art. It's a fast-moving segment of blockchain tech that keeps evolving with new products and use cases.
This, of course, means newer and better ways to make money. It offers unique opportunities for veteran and newbie gamers alike to monetize their love of friendly competition. Investors can also ride the growing NFT hype train by getting good yields from NFT-related cryptocurrencies or stay with classical methods of investment in Bitcoin or other altcoins like KRRX token.
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