Your ultimate guide to NFT games: Is it profitable and how to get started

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Have you thought about NFT games? Maybe you have played some games and are interested in learning more. Or maybe you like NFT gaming and want to find a way to turn it into an extra revenue stream.

If you are curious about NFT games, this guide can help you get started, learn how to make money on your hobby and answer your questions about NFT games.

What are NFTs?

Non-fungible tokens are essentially a form of digital currency created to represent art, music, goods or other assets. Fungible, when it comes to currency, means interchangeable. So a non-fungible token means that the digital asset is not as interchangeable with another asset, digital or non-digital. GOBankingRates.com best explains this when describing exchangeable assets such as gold bullion, stocks or US currency. You can exchange one $ 20 note for another $ 20 note, and neither party will have won or lost anything on the deal.

On the other hand, many collectibles, cars, diamonds and works of art vary slightly. You cannot exchange a diamond for another diamond in a completely equal exchange, although both diamonds may have approximately the same value. This is because each gemstone is unique. In the same way, two works of art can have the same value today, but one can appreciate and one could depreciate due to a number of factors. Artwork creates a very good analogy to NFTs, since NFTs are often used to represent art.

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What is the difference between NFTs and Crypto?

Although you can buy NFTs with cryptocurrency – and many do – crypto and NFTs are not the same. Cryptocurrency is fungible, since you can exchange one Bitcoin for another on an equal exchange. With NFTs, all the value lies in the token being unique and original.

There are also some other similarities between NFTs and crypto. 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 store your NFTs for gaming. And you can use crypto to buy NFTs in your favorite NFT games.

While cryptocurrency is considered part of the world of DeFi, or decentralized finance, NFT games exist as part of a concept called GameFi, or the merging of finance and games.

What does NFT mean in games?

The concept of NFT games is that it connects the gaming experience to unique digital assets that can be won, bought or otherwise acquired within the gaming world.

NFTs in play can come in the form of:

• Memes
• Gifs
• Feelings
• Artwork
• Clothes
• Player skin
• Draw
• Avatars
• Game consumables
• Game parts

You can store your NFT games in a digital wallet – just like cryptocurrency, swap them with other players or use them to enhance your gaming enjoyment – just like collectibles in the real world!

How do you play NFT games?

NFT games vary as much as any other video game. Some are based on completing missions, some are based on battles and some are games of chance. Some act as tactical card games in the spirit of Magic: The Gathering. Others, such as AdoptMe and CryptoKitties, are based on collecting, raising and interacting with animals.

Etheria, considered the first NFT game, introduced in 2015, is a real estate investment game based on digital land trading as NFTs. In 2021, someone bought a plot of land in Etheria for 70 ETH, worth about $ 130,000 USD at the time, according to NFTExplained.info. There is clearly money to be made – and spent – in NFT games.

The popular CryptoKitties, introduced in 2017, allow the player to collect, breed, care for and buy and sell digital cats while playing games and completing puzzles. Because they are NFTs, each cat represented in the game is 100% unique. As of June 29, 2022, there are more than 2 million CryptoKitties owned by players worldwide or available for sale.

To play an NFT game, you need to access the game via your mobile device or computer, and often invest a “share” 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 from NFT games

If you think some gambling commercial claiming that you can make money just by playing is scam, it’s not true. While scams are out there, NFT games can be a viable way to make money through games.

There are several ways to make money through NFT games. You can choose games to make money, which are some of the most popular NFT games available today. In these games, you earn rewards by completing challenges, defeating levels, villainous characters, or even just by playing more often. The assets you earn, including NFTs, cryptocurrencies, or player skins, can be exchanged to unlock additional rewards or sold for cryptocurrencies.

Some money making games are free to start, while others require you to buy a bet in the game to get started.

Alternatively, you can play games like CryptoKitties, where you can earn NFTs in the game that only have value in the game. Then you sell the NFT cats for cryptocurrency – in the case of CryptoKitties, Ethereum, which you can then sell like any other investment for US dollars or hold on to it if you feel it can appreciate it. As with any crypto investment, investing in NFTs and converting them to crypto is very speculative, and you can lose money as easily as you can make money.

You can also make money by creating your own NFTs and selling them in games like CryptoBlades and Cryptovoxels. You can also play in the metaverse area of ​​Decentraland. You can make items, wearables or collectibles and earn royalties from sales.

When you play an NFT game, you will probably also have an opportunity to swap your NFTs. Remember, since NFTs are non-fungible, which means that two NFTs are not worth exactly the same value, you can lose or win on a trade. However, you can swap NFTs to get other items or items that can help you progress in the game, or you can earn high-value NFTs by swapping them for items other players need.

If you are planning to trade NFTs, it is important to understand the value of what you have. NFTs vary in value based on how rare they are, their specific characteristics, or how useful they can be in the game, as well as their inherent appeal to players.

Are there any free NFT games?

While many NFT games require you to pay to start playing, there are some free NFT games. You can still earn NFTs that can have real value in these games. Splinterlands is one of the most popular free NFT games. It’s a trading card game where players can win rewards from playing tournaments or completing quests – all with no upfront fees to get started.

Womplay.io has a full collection of NFT games that allow players to win points or money.

Gods Unchained is another popular, free NFT game where players can earn and trade assets in the game. Gods Unchained evens out the playing field by matching players with similar rankings, while some money-making games give players who can buy the rarest or most powerful cards an advantage over other players.

Conclusion

If you already like to play, NFT games can be a way to make extra money or get started investing in cryptocurrency. All you need is a computer or mobile device, a digital wallet to store your winnings and access to a crypto exchange if you decide to exchange your NFTs for crypto or cash.

It is possible to lose money or lose the NFTs if you play, but if you start with free NFT games, the stakes are quite low. In most cases, the more you play, the better you will get and the more you can earn. If you want to earn a little extra change, and do not mind taking a risk, NFT games may be worth exploring.

The information is accurate as of June 29, 2022.