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Have you thought about NFT games? Maybe you've played a few games and want to learn more, or maybe you like NFT games and want to find a way to turn them into an additional source of income.
If you are curious about NFT games, this guide can help you get started, understand how to monetize your hobby, and answer your questions about NFT games.
What are NFTs?
Non-fungible tokens are, in essence, a form of digital currency designed to represent art, music, commodities, or other goods. Fungible, in monetary terms, means interchangeable. Therefore, a non-fungible token means that a digital good is not equally interchangeable. with another asset, digital or non-digital. GOBankingRates.com explains this best when describing fungible assets such as gold bars, stocks or the US currency. You can exchange a $ 20 bill for another $ 20 bill dollars and neither party will have gained or lost anything from the transaction.
On the other hand, many collectibles, cars, diamonds, and works of art vary slightly.It is not possible to exchange a diamond for another diamond in a completely equal exchange, even though the two diamonds may be worth roughly the same. This is because each gem is unique. Likewise, two works of art can have the same value today, but one can appreciate and the other devalue due to a number of factors. with NFTs, as NFTs are often used to represent art.
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What is the difference between NFT and cryptocurrencies?
Although it is possible to buy NFT with a cryptocurrency - and many do - crypto and NFT are not the same. Cryptocurrency is fungible, as it is possible to exchange one Bitcoin for another in an exchange at par. value lies in the fact that the token is unique and original.
There are also other similarities between NFTs and cryptography.For example, most NFT games are played on the Ethereum blockchain and Binance Smart Chain.You can use the same digital wallet that holds your cryptocurrency investments to hold your own. Gaming NFT. And you can use cryptocurrency to buy NFTs in your favorite NFT games.
While cryptocurrencies are considered part of the world of DeFi, or decentralized finance, the NFT game is part of a concept called GameFi, or the fusion of finance and gaming.
What does NFT mean in games?
The concept of NFT in games is to link the gaming experience to unique digital goods that can be earned, bought or otherwise acquired in the game world.
NFTs in games can take the form of:
- Memes
- Gif
- emote
- Artwork
- Apparel
- Player skins
- Characters
- Avatar
- Consumables of the game
- Game resources
You can keep your gaming NFTs in a digital wallet, just like cryptocurrencies, trade them with other players or use them to enhance your gaming enjoyment, just like collectibles in the real world!
How to play NFT games?
NFT games vary a lot like other video games. Some are mission-based, some are based on battles, and some are based on gambling. Some function as tactical card games in the spirit of Magic: The Gathering. Others, like AdoptMe and CryptoKitties, they are based on harvesting, breeding and interacting with animals.
Etheria, widely considered the first NFT game, introduced in 2015, is a real estate investment game based on digital land trading in the form of NFT. In 2021, someone bought a piece of land in Etheria for 70 ETH, which at the time It was worth around $ 130.000, NFTExplained.info reported. It is clear that there is money to be made - and spent - in NFT games.
The popular CryptoKitties, introduced in 2017, allow the player to collect, breed, heal, buy and sell digital cats while playing and completing puzzles. As a NFT, each cat represented in the game is 100% unique. As of June 29, 2022, there were over 2 million CryptoKitties owned by players around the world or available for sale.
To play an NFT game, you need to log into the game via your mobile device or computer and often invest a "stake" in the game by paying in cryptocurrency. From there, make sure you know the rules of your individual game and most importantly, have fun.
Earn Profits With NFT Games
If you think that game advertisements claiming that you can earn income just by playing are scams, that's not true. Even if scams exist, NFT games can be a valid way to make money with games.
There are several ways to profit from NFT games. You can choose play-to-earn games, which are among the most popular NFT games available today. In these games, you get rewards by completing challenges, passing levels, defeating villains or even Only by playing more often. Earned goods, including NFT, cryptocurrency or player skins, can be exchanged to unlock other rewards or sold in cryptocurrency.
Some play-to-earn games are free, while others require you to purchase a share of the game to get started.
Alternatively, you can play games like CryptoKitties, where you can earn in-game NFTs that only have value in the game, then sell the NFT cats in exchange for the cryptocurrency - in the case of CryptoKitties, Ethereum, which you can sell like any other. other investment in US dollars or hold on if you think it will appreciate.As with any other investment in cryptocurrencies, investing in NFTs and converting them to cryptocurrencies is highly speculative and you can lose money as easily as you can earn.
You can also earn money by creating your own NFTs and selling them in games like CryptoBlades and Cryptovoxels. You can also play in the Decentraland metaverse. You can create items, clothes or collectibles and earn royalties on sales.
When playing an NFT game, you will likely also have the option to trade your NFTs. Remember that since NFTs are non-fungible, meaning no two NFTs are worth exactly the same, you can either lose or gain with one. However, you can trade NFTs to get other items that can help you progress in the game, or you can earn valuable NFTs by trading them for items other players need.
If you are considering trading NFTs, it is important to understand the value of what you have in hand. NFTs vary in value based on their rarity, specific attributes or usefulness in the game and their inherent appeal to players.
Are there free NFT games?
Although many NFT games require payment to start playing, there are some free NFT games. It is still possible to earn NFT which can have real value in these games. Splinterlands is one of the most popular free NFT games. It is a card game. collectibles where players can earn rewards by participating in tournaments or completing missions, all with no upfront costs.
Womplay.io offers a complete collection of NFT games that allow players to earn points or money.
Gods Unchained is another popular free NFT game where players can earn and trade goods in the game. Gods Unchained levels the playing field by matching players of similar level, while some play to win games give players that they can buy the rarest cards or have an advantage over other players.
Conclusion
If you already enjoy playing, NFT games can be a way to earn extra cash or invest in cryptocurrencies.All you need is a computer or mobile device, a digital wallet to store your winnings and access to a cryptocurrency exchange if you decide to trade your NFTs for cryptocurrencies or cash.
You can lose money or lose your NFTs if you play, but if you start with free NFT games, the stakes are pretty low.In most cases, the more you play, the better you get and the more you can win. you are looking to make some money and don't mind taking the risk, the NFT game might be worth exploring.
