Cradle’s new SIN system allows you to earn by betting NFTs to elite players

The play-to-earn (P2E) industry had been booming, rising to prominence amid a hype-driven crypto bull market.

It has benefited from the success of the gaming industry, which has managed to remain recession-proof even through the worst economic crises. This industry continued to pull in billions of dollars when companies in other sectors were going bankrupt by the day, and this ability to bring in a steady flow of money seemed to have spilled over into the P2E space.

That is, until the bull market was over and crypto was staring down the barrel of the bear market.

Since the market downturn, P2E tokens have taken the most hits. This has spilled over to NFTs and their trading volume took a deep dive. As a result, earnings from NFTs are now lower than they had been in previous months.

Thus arose the need for an alternative way to profit from NFTs, without being completely dependent on speculative markets. Blockchain game Cradles is one that has come up with a new system that allows investors to profit from NFTs without having to hold it themselves.

Betting NFTs for gaming

NFT staking is no longer a new concept in the blockchain gaming industry. Various games in the space have adopted an NFT staking system to allow players to earn passive income from their NFTs. Not only does this provide earnings to the holders, but it also helps ensure that the value of the NFTs remains high by reducing the number of them traded in the open market due to this induced holding. It also helps holders support their community and promote the growth of the entire ecosystem.

Some good examples of platforms that have adopted NFT staking are, among others, Sandbox, Decentraland and Axie Infinity. The Axie Infinity NFT betting system is one that is widely copied in the industry due to the success the project has had since its launch. Players are able to collect, breed and fight against other players on the platform.

However, this NFT staking system is full of flaws that do not ensure the sustainability of the model. The reason gaming tokens were so successful in the first place was that they were launched in a bullish cycle that was characterized by a lot of speculative buying. The model requires a constant influx of new players who will put down a significant amount of upfront investment through buying NFTs and also invest a lot of time to earn a reasonable amount. So it is not surprising that this model has suffered.

Tib Palin, CMO of the upcoming blockchain game Cradles: Origin of Species, explains this phenomenon, saying: “The model works well as long as new money comes in from new players, but it’s completely unsustainable.” He further went on to add that “Some critics have labeled NFTs as game Ponzis, where new money is used to pay old participants, and they are not entirely wrong. Get into the P2E game too late and you’ll find yourself earning tokens and NFTs that are cheaper by the day in a bear market.”

So how does one circumvent this difficult cycle of speculative purchases and Ponzi-like structures? Cradles: Origin of Species has launched a brand new staking system that allows players to “bet NFTs” without having to break the bank to buy expensive NFTs for gameplay.

How Cradles brings income to everyone

The new SIN system introduced by Cradles has proven to be a game changer for the gaming community. SIN, which stands for “Staking Into NFTs”, allows users to earn by participating in their favorite player’s games. Cradles realized that there needs to be a shift in how play-2-earn economies are structured to make them more sustainable, and SIN was born out of that need.

The SIN system leverages the popularity of in-game streaming and the robust play-2-earn community that has developed over the past year. The revenue growth from this streaming model has outpaced even the worst markets and has provided multiple revenue streams for gamers. Cradles takes advantage of this by creating a true metaverse MMORPG that encourages and incentivizes players as they build a world around them.

With SIN, players can only bet on a super rare NFT weapon or artifact that is already owned by another player. These skilled players tend to draw thousands of viewers with each stream, and the majority of their community isn’t skilled enough or doesn’t have the time to search for said weapon or artifact.

So instead of sacrificing hours of gameplay just to find this NFT, you can simply choose to support a skilled player with NFT while they play. When the skilled player finally emerges victorious, the spoils from the conquest are distributed among all players who had bet on NFT.

Cradle’s CEO TY explains SIN as;

“You don’t have to spend hours searching or trying to craft a super rare NFT weapon in Cradles. Instead, you can choose to passively support a skilled player who already has that NFT. For example, you can insert CRDS (Cradle’s native token) into your favorite player’s ultra-rare weapons if you think they would do well in a tournament or hunting session. Thereafter, any reward earned by the player will be shared among all the CRDS players who support them. It’s a great way to show your support for your favorite idol and make a profit.”

It is really a new idea that will help players to participate in gaming experiences without having to dedicate hours to finding these weapons and items themselves. Instead of going the established route of pushing out a P2E game where players have to breed and fight for tokens, Cradles takes a new approach to monetizing games, because if all the focus remains on just breeding and crafting new items , players can quickly get bored and move on to the next shiny thing.

“It’s tempting to jump in like everyone else and push out a P2E game of breeding and fighting for more tokens and rarer breeds,” Palin explains. “However, if the core development focus is simply creating new items and new races, ultimately players have no motivation to continue playing or even contribute. At Cradles, we envision a community of players who are sold on the experience of a game world in which they can have an active role.”