Blockchain has brought a major transformation in the gaming sector. Players can now make money while having fun. Instead of finances only ending up in the hands of developers and distributors, players can also earn from NFTs and crypto tokens. All it takes is investing in quality gaming equipment and finding time to play games. Accenture notes that the over $300 billion industry has attracted players and all manner of gaming enthusiasts looking for social interactions. While predicting that the crypto gaming industry will grow to around $500 billion by the year 2027, experts at MetaworldGambler.com are warning new entrants against jumping into GameFi without proper guidance.
Picking the Right Play-to-Earn Game
Patience never disappoints; instead of jumping into the first play to earn game you come across on the internet, take time to understand how these games work. Once you have are knowledgeable about P2E games, you can go ahead and find one that suits you best. So how can you find the right P2E game out of hundreds of crypto games?
- What are your goals? Play-to-earn games are not the same; they come in diverse shapes, each offering players unique rewards. The most common rewards are in-game NFTs and native tokens. Some games offer extensive forms of payouts including popular coins such as BTC and ETH. Coin Hunt World, is one of those games that award players bitcoin and ether for unlocking quizzes. Understanding what is required of you to earn, and how you are going to get rewarded should be top of your priorities when searching for a play-to-earn game.
- Cashing Out: There is no doubt that one of your motivations for getting into P2E is to make money. So no one wants to find themselves playing games when they don’t know the perks will get to their hands. The biggest challenge with these kinds of games is converting their tokens into a cashable form. Do your research to ensure you pick a game whose rewards can be useful in the real world or are easily convertible to such a form.
- Getting Started: Most P2E games require a certain level of investment to get started. In most cases, the starter pack will involve purchasing cryptos. Players need about three Axies to unlock Axie Infinity. Pick a game whose initial cost is within your comfortable reach. Some gaming studios offer free trials to give you a feel of what they offer before requiring your investment. Considering such games will save you the cost of buying into gaming products only to later realize that you don’t enjoy playing them.
P2E games give players the pleasure to have fun, get entertained, and earn money for the time spent playing. But unlike traditional investment products, we can’t forecast how much one can earn as the returns vary. While these games can be rewarding in the long run, they have an initial startup cost, so you’ll first need to invest time to recover your capital, aside from time spent learning the ropes of the games. It’s possible to make a good return while playing your favorite games, but don’ forget to do your due diligence before getting started.