How to Make Money from NFT Games

Screenshot of Lumi World’s Website

All about GameFi?

Coined by Andre Cronje, father of DeFi, GameFi came into existence in 2020 which accelerated the revolution of NFT games and in-game assets. GameFi is a combination of gaming and decentralized finance (DeFi). GameFi depends upon many prominent elements like blockchain technology, gaming, multiple DeFi products such as NFTs along with yield farming, borrowing, and lending and stablecoins, etc.

A Brief Intro to NFTs and NFT Games

It is easy to understand NFTs if you are already familiar with cryptocurrencies and the blockchain technology of the decentralized world. NFTs (Non-Fungible Tokens) are unique digital items on the blockchain. They can be used as an asset, in-game characters, or other valuable objects related to art, memes, or music. They are not exchangeable as each token has its own unique identity and cannot replace the other item.

How do these NFT Games Work?

These NFT games are allowing players to earn money as they play them, by merging finance and GameFi. By using NFTs, gamers can sell collectibles to other players and even rent them out. Many games allow players to invest their NFTs in collectibles they predict have value and can generate profit soon.

How to Sell Assets in NFT Games?

NFT games allow players to participate in ranking games with extreme popularity, where players can breed in-game creatures, own land, skins (characters, avatars) and put several weapons or tools into their collection. After acquiring enough assets players have choices of either to sell the asset completely to another player or rent out that particular asset to generate profit. Each ownership is tracked separately on the blockchain.

NFT — An evolution of MMO. Img by Technoroll.org

Mini Earning Games

These games have mini levels where the players can enjoy the entertainment a game offers, but don’t have to spend large amounts of time. Tic Tac Toe, Spin the Wheel or other fast-paced games that just last a few minutes are very popular.

NFT Gaming Tournaments

As much as mini-profit games are popular, NFT based games also have another option for users who seek to play with a large community. These games are beloved by gaming fans as they have a sense of community where players can play in different modes (PvP, TeamvTeam etc.). As tournaments, there are several rounds where the individual players or teams have to win and progress.

Benefits of Earn to Play Games

NFT games are creating opportunities to earn for many who faced a financial burden during COVID-19. A whole new economy and a way to make real-life money, the NFTs have simply become in demand. Combined entertainment and a great way of making an earning is the crux.

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