Some years ago, no one would believe you could earn money from playing games in your room. Spending too much time gaming was a societally-accepted ‘indication’ of imminent failure. Even if you were going to make money from gaming back then, it had to be through competitions.
However, the advent of the blockchain-powered GameFi economy has changed that. More people are quitting jobs to play crypto games that pay. Yes, people are turning hobbies into full-time employment.
In 2021, the gaming industry attained a valuation north of $300 billion, and money now goes both ways. Hence, it’s vital to stay in the loop. Maximizing the recent gaming industry’s paradigm shift involves choosing the most profitable crypto game to earn. This article explores factors to consider before investing time in any game to bring you up to speed.
What are Crypto Games?
Crypto games have infrastructures either partially or wholly built on blockchain technology. These games go by different names; blockchain games, play-to-earn games, yield farming games, etc. Irrespective of what terms they are called, they popularly provide financial rewards to players.
A crypto game play-to-earn application is built on specific blockchains, offering players potential access to tokens, NFTs, cryptocurrencies, etc. Furthermore, owing to the underlying blockchain technology, crypto games are decentralized. Hence, they are owned by the community that stakes in them.
Crypto games function differently from traditional games. For instance, traditional games are controlled by a central body, and crypto games differ. Also, in-game assets in traditional games are worth nothing in real-life. But, token crypto and NFTs from blockchain games can be liquidated to fiat currencies.
Several crypto games have been launched in recent past years to make money. But, unfortunately, you can’t play all these games at once. Hence, you aim to pick the games that pay the most; let’s consider why.
What Can the Right Crypto Game Offer You?
The GameFi economy is booming, but you can’t play them all. Choosing the right may be a daunting process, but it’s worth it. Here are some reasons why you must choose right one.
Everyone plays a crypto game to earn money. However, the value of crypto games varies. The monetary value comes from the NFT entities in-game. Players go through the game to accumulate collectibles, which are NFTs.
Subsequently, players sell the collectibles on a crypto exchange. Now, the value of the NFTs depends on the global value of the game in question. When you pick a suitable game, you can earn more value for the time you invest in it.
Ownership is the added advantage of blockchain technology. However, it would help if you didn’t hurry into having an ownership stake in any game – it has to be the right game. You can get ownership of a gaming platform by buying the game token. When you pick the correct game, the value of your stake is worth highly on the market.
How to Pick the Most Profitable Crypto Games?
Upon understanding how a crypto game earns money for the players, it’s time to find the most profitable one for you. Here are the details you must pay attention to if you get the highest monetary value for your time.
Understand Your Goals
Play-to-earn games are businesses; they involve financial transactions. Hence, before you pick out any game, know what you want. In addition, Crypto games offer differing rewards; some offer NFTs, some offer gaming coins, and others offer both.
For instance, Axie Infinity players play to farm Axies with varying values. Hence, you must understand the rewards of different games and pick the one that suits your goals.
How Easy is Liquidation?
Crypto games are premised on selling collectibles for cash. So, you should only choose a game you can quickly liquidate its in-game assets. Also, the crypto game tokens must be easily accessible. Examples of such games are CoinFantasy, Axie Infinity, Decentraland, etc. Before getting started, ensure your knowledge of where and how to trade the game token.
How Much is a Good Initial Investment?
Before you can start playing a crypto game, you need to buy tokens. Unfortunately, different game tokens differ in cost. Hence, it would be best to do due diligence to estimate profit.
For instance, to start playing Axie Infinity, you need to buy three Axies. Each Axie costs between $35 and $70. For Axie Infinity, this is a reasonable cost because the game is widespread, and with great potential. However, some other crypto games may not be worth this initial investment.
Furthermore, you should only invest money you can afford to lose. Unfortunately, the crypto game blockchain ecosystem is volatile – you can lose money as fast as you make it.
Scour the Internet for Reviews
When you have a game of interest, the next step is to do concrete research. First, you need to understand its market viability; find out if many people are playing it. Also, even if crypto games are all about making money, the gameplay still needs to be enjoyable.
Hence, beyond thoroughly going through the token chart for respective values, rank the games according to gameplay. You can only make so much money from a game you enjoy playing. You can find reviews of games on social media. Going through forum conversations about the specific game will also corroborate your perspective.
Visit Top Websites
This should be a no-brainer. There are over 400 blockchain games online. To pick the most profitable crypto games to play, visiting top websites should be prioritized. Visit websites like DappRadar and CoinMarketCap to see viable new projects.
Though, these two websites focus on slightly different metrics. DappRadar provides the GameFi market, using users and volume as priority metrics. CoinMarketCap, on the other hand, features games based on token price trends – helping players decide the best time to opt-in.
Hence, the website you rely on depends on the goal you set (as mentioned earlier).
CoinFantasy is a Profitable Crypto Game
CoinFantasy is the foremost decentralized fantasy gaming platform globally. The platform gamifies the crypto-stock market, offering rewards through the play-to-earn model.
Frequently Asked Questions (FAQs)
Yes, you can make money on crypto games. Unfortunately, though, most profitable crypto games require an initial investment in buying utilities. And the most important thing is to ensure that the team behind the project is credible. Crypto games are profitable.
How much you make off a crypto game depends on the effort you put in. Understanding the business side of the game is also crucial. But, regarding the value, games like CoinFantasy and Axie Infinity rank high in the valuable tokens list.
You can, if there are platforms doing giveaways or offering BTC as a reward for tasks. Free crypto can be seen on various social media platforms like Twitter, Telegram, and Discord. This is common with projects that are just launching, they use it as marketing tactics.
These are cryptocurrencies that represent the value a particular utility provides. They can be traded for fiat currencies. The tokens are designed to work as full-fledged cryptocurrencies. That means that players can theoretically convert in-game winnings into cash on a slew of decentralized exchanges.
Yes, crypto tokens have value, depending on the game in question and its respective market. A token cannot be in isolation from the value placed on the game in the market. A game with high users will surely have a High-value token and vice-versa.
You can earn crypto tokens through games offering them as rewards for activity. Crypto tokens can also be earned freely from giveaways and airdrops depending on what the people leading the projects decide. You can also earn via engaging actively in games.