Ultimate Guide to NFT Gaming: Is It Profitable and How to Get Started

Ultimate Guide to NFT Gaming: Is It Profitable and How to Get Started

As the NFT gaming world evolves rapidly and continues to be an ever-exciting space, there’s every chance you’re thinking about NFT gaming. Perhaps you’re already enjoying the adventure, or if you’re a newbie, you’re considering learning to play a few games. You may be wondering if making it an additional revenue stream is possible. Our ultimate guide will explore NFT meaning in games and show you how to get started benefiting from them.  

How NFT Games Work 

The main difference between NFT games, such as Chainers, and traditional ones is that NFTs are used as a means of trade and exchange with other players. NFT games are primarily played on Ethereum or the Binance Smart Chain blockchains and are mainly themed around collecting in-game items and characters. Users can create an NFT for free during some of these games and also sell their NFTs or collectibles to other players. Users can also trade, swap or purchase NFTs with other players and gain a profit in the process.    

The NFT meaning in games is that they connect the gaming experience to the in-game items and other collectibles that users can win, purchase, or otherwise acquire during the games. Assorted NFTs associated with blockchain gaming include memes, gifs, emotes, artwork, clothing, player skins, characters, avatars, game consumables, and game assets. And just like cryptocurrencies, all the items used in NFT games are stored in a digital wallet and are owned exclusively by players who can decide whether to keep, sell or swap them with other gamers. 

How NFT Games Make Money 

It’s possible to make money using the most profitable NFT, but how much money you make will depend on market demands and your chosen game’s mechanics. Since all NFTs are unique assets verifiable on the blockchain, their value derives from their scarcity, collectability, and in-game utility. Once you have your in-game items and NFTs, you can elect to sell them for a profit on auction houses, markets, or exchanges. Among the most common ways to make money from NFTs include the following: 

  1. Farm In-Game Currency 

Most NFTs games have an in-game currency that players can farm every time they participate in games and complete associated tasks or challenges. Users can easily swap the in-game currencies they make for regular money or cryptocurrencies on different crypto exchanges and NFT marketplaces. A good example is Axie Infinity, where players who get their in-game currency Smooth Love Portion (SLP) when they win battles can use their tokens for breeding new Axies or exchanging them with other tokens.   

  1. NFT Breeding 

There are NFT games where players are allowed to combine existing NFTs to breed new ones. As a result, it’s possible to create rare and valuable digital items that could become the most profitable NFT that could be used in the game or sold for a good profit. CryptoKitties provide the best example of this concept, as players are allowed to breed new cats as long as they possess unique traits which they can use to sire new cats or sell to other collectors for a profit.     

  1. Minting New NFTs

If you’re in blockchain gaming and possess creative skills, you can easily use them to create an NFT for free. In addition to NFTs, you could create artwork, in-game characters, or anything else the game allows, which you can keep for yourself or sell to other gamers for a profit. The Sandbox is a perfect example, enabling users to create and upload 3D assets using the Voxel editor tool. 

  1. Selling and Renting 

Selling and renting NFTs to other players who need them is another profitable way to get passive income from NFT games. While most games have marketplaces that support trading, you can also use external platforms. Decentraland is an example of a game that allows players to sell or rent virtual buildings or land parcels to users who need them for gaming purposes.   

  1. Staking

Some newer NFT games that pay you allow players to stake their in-game tokens or NFTs to get passive income. Staking refers to the process of locking up digital items in a smart contract for a period to support the network and getting rewarded in return. The rewards are usually in the form of more NFTs, tokens, and other benefits. Alien Worlds, for instance, allows players to stake their NFTs or Trilium (TLM) tokens to farm more TLM or other resources.

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How to Get Started Playing NFT Games

If you’re a beginner with NFTs that pay you, you must follow a simple process that includes selecting a game, setting up a digital wallet, and then beginning to play. 

  1. Select a Game

Blockchain gaming is still evolving, and since there are many games, you can’t just assume that you will enjoy every game. It would be best to identify the fun you could enjoy and leave out those unsuitable. You want to ask yourself whether you find a game interesting, if there are upfront costs and free trials, and whether you understand the game’s mechanics and tokenomics. Starting with free-to-play games is advisable if you’re a complete beginner.    

  1. Set up a Digital Wallet 

It would help if you had a digital wallet supporting NFTs before indulging in NFT gaming. Since numerous blockchains support NFT games, you want to be careful to ensure that your wallet is compatible with the games you have in mind. 

  1. Start Playing NFT Games 

When you set up a wallet, visit the game’s website and read the instructions and terms and conditions before you begin playing.   

Conclusion 

The adoption of NFT gaming may still be a work in progress, even as players of traditional gaming try to learn and embrace the concept. However, thousands of other fans enjoy NFT blockchain games, interact with different games monthly, and get passive income. There’s every indication that more and more people are joining the NFT gaming bandwagon and enjoying their