Today we talk about Crypto Games. For most people, gaming served as a pastime after a long and stressful day at school or work. It was nothing more than just a passive hobby, and everyone expected nothing more than happiness and satisfaction after completing a difficult task.
But as technology advances over the years, so is the gaming industry. The rise of the blockchain paved the way for crypto NFT games or play-to-earn games, where players can generate income from crypto or non-fungible tokens (NFTs) by only using their smartphones or PCs. So, instead of players shedding cash to purchase a game, the developers create opportunities for gamers to make money.
While this concept is appealing, understanding how it works can still be challenging for many beginners. So, to help you, this article will discuss four things you need to keep in mind about crypto gaming.
What are Crypto Games?
Before diving deep into the concepts and terms, let us first understand what crypto games mean. Crypto games, considered the next generation of gaming, let users earn cryptocurrency by engaging in various tasks. For instance, some games give players in-game currency that they can use to buy characters and items that can be sold in marketplaces or subsequently swapped for more common cryptocurrencies.
Thanks to this concept, the gaming community now has a new option to be compensated for the time they spend playing games. The play-to-earn model has gained much traction in recent months, and more and more players are now joining online crypto gaming groups.
Currently, players can choose from various game genres in the blockchain gaming sector, including pay-to-play games, which demand an initial investment from players to unlock a specific character or, at the very least, an item. On the other hand, mining games pay out coins to players for producing specific resources or finishing particular tasks. Of course, there are also free-to-play games that you can start playing immediately and earn cryptocurrency.
4 Things You Need To Know About Crypto Gaming
Store extra funds in the form of crypto
Most crypto games are built on the Ethereum blockchain. So, to play a game, you must have funds to purchase Ether. Also, whenever you use the Ethereum blockchain, you must pay a GAS transaction fee. This fee is something crypto gamers will use in every action they do in the game. Your browser wallet will ask you to sign a transaction before you proceed and display the cost.
But thanks to sidechains on decentralized games, players don’t need to pay fees each time they perform and complete an action unless otherwise stated.
Choose a cryptocurrency exchange platform
You’ll need to use a cryptocurrency exchange site to convert your money into Ether, and there are plenty to choose from. Be sure to complete this phase and pick the option that best suits your needs, such as your country’s currency or the payment method you choose. Before diving into it, research everything you need about exchange platforms.
Use a digital wallet
Using a digital wallet is the best way to ensure that your crypto is safe. Unlike Paypal or Apple Wallet, a digital wallet for cryptocurrencies saves keys rather than money. Many wallet options enable you to keep keys on your PC, in the cloud, on your mobile device, or even offline using a hardware device, similar to exchanges. Select the option once more based on your unique requirements.
Select a crypto game that interests you
Finding a game that fits your interests and budget is the next step after deciding to try crypto games. Finding the best one for you requires investigation, as over 400 active games are currently available online.
The data tracking websites DappRadar and CoinMarketCap are critical places to keep an eye out for new crypto game alternatives. CoinMarketCap provides information into a game’s token price movements, allowing you to decide when is the best moment to participate in a game, while DappRadar offers insight into the GameFi marketplace based on users and volume.
Most games are in their alpha or beta stages, as the industry is still extremely young. Be prepared for a jerky gameplay experience, and be ready to see glitches. On the other hand, you’ll join the community that aids creators in discovering what players find most engaging and desirable. That in and of itself is a thrilling experience.
Crypto games combine the excitement of video games with the chance to get paid for your time with actual money. However, no “average” earnings exist, and your returns may vary as with any financial product.
Play-to-earn cryptocurrency games can be profitable, but they frequently need a one-time financial input and ongoing time expenditures to understand the game and increase your investment. You can have fun with GameFi and receive worthwhile cryptocurrency rewards for your time by completing your research and getting ready to go long.
Also, remember that every player has a unique playing experience, and we all have various priorities. Crypto games are not for everyone, just like any other genre. But part of the joy is experimenting, fiddling, and widening your gaming horizons.