NFT & Video Games, Play to Earn: A new and Exciting way to Earn Money while playing video games.
Video games are providing new and exciting ways to earn some good money. Besides esports and video game streaming, there is a new method to earn more money while playing video games.
Play to Earn
Video games that are based on NFT blockchain technology now let players earn $1000 in profit per month. The residents of the Philippines, Vietnam, and Venezuela have introduced video games that feature NFT blockchain to combat unemployment.
Projects based on blockchain technology and NFTs started to roll out in 2017. However, many didn’t fathom their immense success at that time. Their popularity rose to new heights with especially in the video game industry.
Several video game titles went hugely popular including Axie Infinity, Galaxy Blocks, Alien Worlds, Upland, CryptoBlades, My Defi Pet, and Splinterlands.
NFT & Play to Earn
But what exactly is NFT? NFTs are known as Non-fungible Tokens based on virtual assets. NFTs don’t have any tangible form, however, they are and can be based on real-world objects like artworks, fashion, house deeds, virtual land, avatars, and more.
Moreover, NFTs are inherently different from one another, no NFT is the same as other. Each NFT has its own features, uniqueness, and qualities that make them authentic, exclusive, and a collector’s item.
The transaction of NFTs is based on blockchain technology; a decentralized way. Each NFT blockchain-based game has its own financial ecosystem and in-game content. One thing is common between these games and that is real money.
This real money earning opportunity is what made the NFT video game so popular. People were used to paying money to play video games, now it is the opposite, people play video games to earn money.
Axie Infinity is a prime example of the NFT video game’s success. It has generated a whopping $1.6 billion of revenue since its launch in 2018.
It has a transaction volume of 3.8 million, and a sales volume of 845 million in August this year. The token in Axie Infinity is digital pets known as Axies which can be bought, raised, and sold.
However, the game requires an initial investment ranging from $500 to $1500 and gives a return on investment based on your total investment. The higher the investment the higher the return, the minimum you can make is $300 to $500 per month.