How to Make Money with NFT Games (For Beginners)

by

in

Are you a fan of NFTs and want to turn your passion into a profitable venture? Believe it or not, but you can make money while playing NFT games.

NFT games can be defined as a category of video gaming that integrates non-fungible tokens (NFTs) into their game mechanics, establishing a connection between the virtual and real worlds.

So gone are the days of gaming being just a hobby –  as now, it can be a lucrative source of income too!

From Play-to-Earn (P2E) strategies to navigating NFT marketplaces, this article provides a roadmap into unlocking a new level of financial freedom. Don’t just play NFT games – let them play for your prosperity. Read on to find out more! 

Make Money with NFT Games

NFT games have gained popularity thanks to their P2E mechanics, allowing players to earn rewards through tasks and achievements. In general sense, such gaming dynamic typically revolves around players collecting, trading, and using NFTs to progress throughout games and earning valuable rewards.

When starting out, players can begin by exploring different NFT game options and researching their gameplay, rewards, and community engagement. Once a game is chosen, understanding the earning opportunities and strategies for progression within the game is then the next course of action. 

Additionally, joining established guilds or communities within NFT games can offer guidance and a sense of belonging to gamers.

By considering what game to play, its game economy, and the community it hosts, players can confidently jump into the world of NFT games and earn rewards while enjoying immersive gameplay experiences.

8 Ways to Earn Money With NFT Games 

Below are some of the best ways to capitalise on the growing NFT gaming industry by earning passive money. 

1. Earning In-Game Currencies

To start earning in-game currency within a blockchain game, choose a title that best interests you and create an account. In doing so, look for a game that offers opportunities to earn cryptocurrency-based in-game currency through active engagement. 

Once you’ve created an account, you’ll need to obtain the required cryptocurrency, such as Ethereum or Bitcoin, and set up a digital wallet that is compatible with the game.

After setting up your digital wallet, you can actively engage in gameplay to earn the in-game currency of your chosen game. This can entail completing quests, participating in battles, or trading virtual goods within the game’s ecosystem. As you continue to engage with the same game, you’ll then accumulate piles of in-game currency that can be used for various in-game activities, such as purchasing or enhancing in-game items/virtual assets.

Here, remember to keep track of your earnings and utilise them strategically within the game. In doing so, you will enhance the overall quality and monetary value of your gaming experience.

2. Breeding

Some NFT games allow breeding to create new NFTs. For instance, in Pikamoon, players can create new Pikamoons with unique characteristics and trade them with each other as NFTs. 

Generally, to start breeding in a blockchain game, you need to create an account. Once registered, learn how the breeding mechanics work within the game. Breeding in blockchain games involves using NFTs as parent tokens to create new and unique NFTs. In turn, this means that understanding what makes a new NFT valuable – such as its traits, rarity, or uniqueness – is also essential.

The potential value of the new NFTs created through breeding should also be considered. By creating unique and desirable NFTs, there is potential for them to become valuable assets within the blockchain game ecosystem.

3. Minting New Items

To mint an NFT, first you need to create an account on the respective platform (with popular metaverse platforms being the likes of Decentraland or Cryptovoxels). Then, you’ll need to obtain the correct cryptocurrency – often Ethereum (ETH) –  used for minting NFTs in the respective game. Here you can purchase Ethereum from a cryptocurrency exchange and store it in a compatible digital wallet.

Even better, you can then store your funds in an industry leading hardware wallet such as Ledger

Once you have the necessary cryptocurrency and digital wallet set up, you can start creating new 3D objects, wearables, or collectables within the game. After creating these digital items, you can then mint them as NFTs on the blockchain. 

Once programmed on the blockchain, you can then earn royalties from you NFTs via secondary sales (when sold on a game’s marketplace). The royalty percentages typically earned from secondary sales of NFT collectables can vary, however they often range from 5% to 10%.

Minting NFT collectables within blockchain games can potentially lead to significant earnings, especially if the game items you create become popular and are traded frequently. Overall, minting NFTs in blockchain games allows gamers and creators to earn income and participate in a new and exciting digital economy.

4. Scholarships

Players can join blockchain game scholarships by applying to a scholarship program offered by a manager. Here, managers are experienced players who rent out their NFTs to scholars, allowing them to participate in the game without actually having to own an NFT. Scholars, on the other hand, are new or less experienced players who receive the opportunity to use NFTs and split the rewards with the manager.

Managers can get started by creating a scholarship program and selecting scholars to rent their NFTs to. They are also responsible for guiding and mentoring scholars to help them improve their in-game performances.

Scholars can get going by applying to scholarship programs and demonstrating their dedication and potential in the game. Once accepted, they will receive access to NFTs and can begin participating in the game and splitting rewards with the manager.

5. Staking Tokens

Next, you must connect your digital wallet to the staking pool platform and deposit your tokens into the pool. By staking your tokens, you are essentially locking them up for a certain period to earn staking rewards. Remember that risks are always involved here, most commonly through tokens potentially depreciating in value. 

With this in mind, it’s important to calculate the potential earnings and risks before staking your tokens, and be aware that rewards and risks can fluctuate with market conditions. Additionally, stay informed and monitor your staked assets regularly in order to maximise your earnings and minimise potential losses.

6. Virtual Real Estate In the Metaverse

Entering the world of NFT games offers a unique opportunity to delve into virtual real estate. Quite often, these are referred to as virtual reality parcels across metaverse properties. 

In blockchain games like Upland, Decentraland, and The Sandbox, players can buy, sell, and build on virtual parcels, each represented as an NFT. Or even more innovatively, the game Upland mirrors real-world cities like San Francisco and New York City, allowing players to explore, buy, and build 3D structures on virtual parcels. 

Throughout these dynamics, parcel value is intricately linked to their attributes – such as location and size – and ownership history. Early investors in virtual real estate can shape the future of these metaverse games, creating a pathway for substantial profits.

7. NFT Game Streaming

Another avenue for earning within the NFT gaming sphere is through streaming – with platforms such as Twitch and YouTube becoming hubs for sharing gaming experiences. 

Twitch – specifically tailored for gamers – provides streamers income through subscriptions, donations, and exclusive content for subscribers. YouTube, on the other hand, generates revenue through advertising, sponsorships, and views. 

In blockchain NFT gaming, streamers often focus on the financial aspects, offering advice, game walkthroughs, or entertaining moments. As a potential career path, becoming a successful streamer requires dedication, a solid streaming setup, and an understanding of the blockchain gaming landscape.

8. Crypto Mining

While not for everyone, mining represents a distinctive method of earning within blockchain gaming. Analogous to Bitcoin mining, this process involves solving complex mathematical problems using hardware to introduce new coins into circulation. 

In the context of blockchain gaming, mining often begins with the release of a new game, where miners facilitate the addition of the game’s currency into circulation. Mining demands powerful PC setups and incurs costs related to hardware, electricity, and potential participation in a mining pool. 

Although it can be time-consuming and expensive, mined coins can be sold or placed in pools to generate passive income, presenting an intriguing option for those with the necessary resources.

Top 3 Best NFT Games to Earn Money 2024

Below are the top NFT games that offer exciting opportunities for players to invest, trade, and earn money in…all through their blockchain-residing in-game assets.

1. Pikamoon

Pikamoon is revolutionising the P2E Web3 gaming landscape through the strategic features it’s implemented in the enchanting realm of Dreva. Crafted with Unity, Pikamoon’s vibrant NFT adventure across the Pikaverse is fixated around rewarding players for their combat prowess and exploration efforts. 

With a sophisticated battle system at its core, the game seamlessly weaves thrilling tactical combat with exploration and gem hunting. Here, every interaction within Pikamoon is a fusion of MOBA strategy and action, ensuring that each and every triumph is earned through a balance of combat proficiency and risk-taking discovery.

In a general sense, engaging in battles and quests within Dreva earn you the game’s native PIKA ($PIKA) token. You can then use these tokens to buy items in the Pikamoon Store – such as Pikamoon NFT boosts and upgrades – or trade them in the marketplace. In doing so, you then set yourself in better stead for reaping even more P2E PIKA rewards. 

To begin exploring Dreva today, you can also download the Pikamoon Beta on Android and iOS devices. Here you can engage in online and offline battles to climb your way up the leaderboards, with those at the summit to sharing a $10,000 prize pool.

2. Illuvium

Illuvium is an open-world RPG NFT game that offers a unique combination of turn-based battles, exploration, and strategic gameplay mechanics. The game revolves around capturing, training, and fusing powerful creatures known as Illuvials. Players can also explore a sprawling open world, capture wild Illuvials, and train them to build diverse team compositions for arena battles.

The best thing about Illuvium is its strategic gameplay, as players must carefully choose their team compositions and tactics in order to succeed in battles. In addition, the game incorporates NFT trading, allowing players to buy, sell, and trade their unique Illuvials on the marketplace, offering potential income opportunities.

Players can also engage in competitive arena battles against other players, showcasing their skills and strategies. Moreover, they can own land within the game, which provides additional income opportunities and in-game benefits.

3. CryptoMines

CryptoMines is a blockchain-based strategy game where players can build, manage, and upgrade their own mining operations in a virtual universe. 

To get started, players need to set up a digital wallet for storing its in-game ‘Dark Matter’. This can be done by creating an account on a supported blockchain platform and obtaining a wallet address.

Players can acquire Dark Matter by purchasing it from supported exchanges or earning it through gameplay. With Dark Matter, players can mint or buy NFT miners, which are unique digital assets that can be deployed to mine resources on different planets within the CryptoMines universe.

Once miners are deployed, players can manage their mining operations by allocating workers to different tasks, upgrading their workers and planets, and selling resources for potential earnings. Additionally, players can stake $ETERNAL – CryptoMines’ in-game utility token – to earn rewards, trade NFTs, and participate in various in-game events to further grow their mining empire.

By strategically managing resources, upgrading workers and planets, and engaging in various in-game activities, players can unlock the potential for earning rewards and achieving success in CryptoMines.

Conclusion

The impact of NFT games on the gaming industry is undeniable, as it now offers players the chance to own in-game assets and earn real money through P2E dynamics. 

Pikamoon stands as a prime example of how NFT gaming works, as such Web3 game offers a host of P2E scenarios with its rapidly growing GameFi token, PIKA.  As the fastest-growing Game-Fi token in its final Presale stage, PIKA’s potential as an appreciating asset makes for a compelling investment. 

So, for the sake of your future metaverse adventure across Dreva, download the Pikamoon Beta on Android or iOS today.

How to Make Money With NFT Games – FAQ

Are there any successful NFT games?

Yes, there are successful NFT games emerging, and one notable example is Pikamoon, a recently launched gaming project built on the Ethereum (ETH) blockchain. 

In the ‘Pikaverse,’ players engage in exploration, gem hunting, and battles across the project’s native open world, Dreva. Operating on a Play-to-Earn (P2E) model similar to Axie Infinity, players earn rewards for completing tasks and advancing through the Pikaverse’s distinct regions.

These rewards come from the project’s in-game currency, PIKA. Players can use PIKA tokens to buy in-game boosters like spells and potions or trade them on exchanges. Additionally, holding PIKA tokens grants eligibility for a unique free NFT,

What NFTs pay you to hold them?

Some NFT projects have implemented reward systems for their holders, providing passive income opportunities. One example is EulerBeats, which pays royalties to original NFT owners when their digital art is resold.

Another way NFT holders can earn passive income is through staking. This involves depositing NFTs into a DeFi protocol smart contract to generate a yield. Platforms like Kira Network, Splinterlands, Only1, and NFTX allow NFT holders to stake their tokens and earn passive income through rewards.

By staking NFTs, holders can benefit from the appreciation of their digital assets while also earning additional income. These platforms allow NFT holders to leverage their digital assets to generate passive income in the growing NFT ecosystem.

How to get into NFT trading?

To get into NFT trading, start by setting up a crypto wallet and topping it up with Ethereum, a popular cryptocurrency used in NFT transactions. Choose a reputable NFT marketplace, such as OpenSea, Rarible, or Foundation, and connect your wallet to the marketplace. Research and identify the NFT collection and assets you want to buy or trade before making any transactions, ensuring you understand the value and potential of the NFTs you are interested in.

Start with affordable NFTs to gain experience and understanding of the market before moving on to more expensive trading. Remember that NFT trading involves a level of risk, so investing only what you can afford to lose is important. 

How to make and sell NFTs?

To create and sell NFTs, create unique digital content such as artwork, music, videos, or any other digital creation. Then, choose a blockchain platform like Ethereum, which supports NFT creation and trading. Next, create a digital wallet to store and manage your NFTs on the chosen blockchain.

After setting up your digital wallet, you can mint your digital content into NFTs using NFT minting platforms or smart contracts on the blockchain. Minting involves creating a unique token representing your digital content and adding it to the blockchain. Once your NFTs are minted, you can list them for sale on NFT marketplaces such as OpenSea, Rarible, or Foundation.

When listing your NFTs for sale, you can set pricing, royalties, and other terms for potential buyers. Once sold, the NFTs can be transferred to the buyer’s digital wallet, and you’ll receive the payment in cryptocurrency. Selling NFTs allows creators to monetise their digital content and provides collectors with unique, verifiable ownership of digital assets on the blockchain.

Is NFT real money?

NFTs, or non-fungible tokens, are a digital assets representing ownership or proof of authenticity of a unique item or piece of content – such as digital art, videos, music, and collectables.

Unlike cryptocurrencies such as Bitcoin or Ethereum – which are considered fungible and interchangeable – each NFT is one-of-a-kind and cannot be replicated or exchanged on a one-to-one basis.

NFTs function as valuable digital assets because they are stored and verified using blockchain technology, which ensures transparent, secure, and tamper-proof transactions. This verification process allows for the provenance and ownership of the NFT to be easily traced and verified by anyone with access to the blockchain.

As a result, NFTs have great investment potential, as their unique and scarce nature can drive demand and value. They can be bought, sold, and traded on various online platforms and marketplaces, providing opportunities for individuals to invest in digital assets that have the potential to appreciate in value over time.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *