- NFT games paved the way for new gaming experiences, generating more than $5 billion in revenue last year, accounting for about 30% of the total NFT market transaction volume.
- Blockchain games can pose risks to investors, especially if the funding model is entirely dependent on the entry of new players. Therefore, caution is required when purchasing assets in-game.
Non-Fungible Token Game (NFT) Mobile $5.17 billion in 2021 According to data reported by L’Atelier BNP Paribas and NonFungible.com. This value accounts for 29.3% of the total NFT market, even surpassing the art sector.
This blockchain gaming community spans 112 platforms with over 1.8 million active wallets. But how do you make money from NFT games and what are the risks?
Learn what makes money
you NFT Games or GamesFi, a mix of gaming, finance, NFT and blockchain.The most well-known models in this field are “Play to make money” (fight for victory). As players progress, they receive cryptoassets.
In the early days of the game, players had to pay to play in the arcade or buy gadgets and cartridges.Decades later, the model was born “Play for free” (Free to play), monetizing the game through advertising and sales of digital goods, controlled by the developer.
already Game money model is part of the movement Decentralization Dubbed “Web3,” it generates gaming experiences through real-world savings and incentives for new players.
How to make money with NFTs?
In addition to allowing users to make money while playing, NFT games provide opportunity Sell items and assets Acquired in-game for other collectors and players, even outside of the platform they were created on. These tokens tend to appreciate in value as active and engaged users increase.
This pays off for those who invest in the segment and is the primary method of financing games. “Producers have control over the issuance or hold large amounts of these tokens And you can get rid of them to cover development costs,” commented cryptocurrency expert Brian Elesbão.
Most blockchain-based game developers tend to release their tokens before they have a working platform. NFTs are publicly sold to Raising money for game development.
After the public sale, they usually release the game in its initial state to evaluate the gameplay. As the game develops, Asset value can growtransform NFT games in investment. This approach differs from traditional game development where most games are released in a fully developed form.
What are the risks of NFT games?
Before you start playing, Users need to have a digital wallet to store tokens. To participate in many NFT games, you will also need to pay an entry fee or purchase starter pack items such as Axie Infinity.
“While they are usually free, at some point users can always find some difficulties and are encouraged to buy land, weapons and clothing for their characters”, Elesbão explained. These items can be sold and can also generate financial resources.
There are many risks involved in investing in NFT gamesfrom hackers on the web to malicious creators, but The main risk is losing interest in the game“This creates a knock-on effect, with users seeking liquidity, selling their assets and causing the value of tokens and NFTs to depreciate dramatically,” the expert explained.
This can lead to game failure as the compensation system may only rely on new entrants.At some point, resources may become scarce, and User trust shakes.
“It is necessary to follow the basic premise of investing in cryptocurrencies: Only invest what you can afford to lose”, advises Elesbão. Due to the inherently high volatility of this market, an unprepared investor can ruin his financial life.