{"id":2408,"date":"2021-11-29T00:39:43","date_gmt":"2021-11-29T00:39:43","guid":{"rendered":"https:\/\/gospeedhub.com\/?p=2408"},"modified":"2022-02-09T04:22:19","modified_gmt":"2022-02-09T04:22:19","slug":"earn-crypto-playing-games-online","status":"publish","type":"post","link":"https:\/\/gospeedhub.com\/blogs\/earn-crypto-playing-games-online\/","title":{"rendered":"How to Earn Crypto Playing Games Online"},"content":{"rendered":"\n

Gaming isn\u2019t just a means of entertainment anymore, people can now earn money (cryptocurrency) from playing games online. These games use a \u201cPlay to Earn model\u201d instead of a \u201cPlay to Win\u201d and are commonly termed as GameFi.<\/p>\n\n\n\n

The term \u2018Gamefi\u2019 was used for the first time in a tweet in September 2020 and ever since was adopted by many, it is used to refer to games embedded with blockchain-powered decentralized financial elements.<\/p>\n\n\n\n

GameFi is one of the hottest buzzwords in the crypto world now. Its two words combined \u201cGame and Finance\u201d It is used to describe an economic setting that pools Decentralized Finance (Defi) and Non Fungible Tokens (NFTs) with Blockchain-based online games that allow people to earn profit from playing games online.<\/p>\n\n\n\n

HOW IT WORKS<\/h1>\n\n\n\n

\u2018GameFi\u2019 video games run on Blockchain\u2019s distributed archive, which allow players to possess provable ownership of virtual items like avatars, weapons, tokens, etc. found or accrued from gameplay. These things are often traded within the digital marketplace for other NFTs or are often exchanged for cryptocurrency.<\/p>\n\n\n\n

These games usually have several levels to progress through. Players can increase earnings by dedicating time to improving their characters, monetizing their assets by developing structures that other players pay to visit, or combatting other players in contests or competitions.<\/p>\n\n\n\n

GameFi allows players to own their assets and Non-Fungible Tokens for life, by storing them on Blockchain, Assets accumulated exist independent of the game and can be traded at any time.<\/p>\n\n\n\n

WHAT’S NEEDED<\/h1>\n\n\n\n

Crypto Wallet<\/strong> \u2013 Is needed to store virtual currency, NFT\u2019s and make in-game transactions. It\u2019ll function as a digital bank to facilitate the entire gaming process or economy. The precise wallet type however is decided on the Blockchain the games are built on.<\/p>\n\n\n\n

Fund the Wallet<\/strong> – Although most of these games are free to download, they usually require players to purchase in-game tokens or characters from their wallets to get started.<\/p>\n\n\n\n

GETTING STARTED <\/h1>\n\n\n\n

There are several games to get started with, some of which are listed below:<\/p>\n\n\n\n

Axie Infinity<\/strong> – is a web video game fashioned by Vietnamese studio Sky Mavis, It is an Etherum-based cryptocurrency. It offers a virtual universe where one can buy, rear, and trade digital monsters called \u201cAxies<\/a>.\u201d<\/p>\n\n\n\n

The game has a high earning potential but requires a great investment of time and participation to breed, care for, and trade rare or unique Axies.<\/p>\n\n\n\n

https:\/\/axieinfinity.com\/<\/a><\/p>\n\n\n\n

Upland NFT<\/strong> \u2013 is very similar to Monopoly, it is a blockchain-centered game that allows players to buy, keep and trade virtual landed properties that are connected to the real world. Players can become digital landowners and build properties on them, also earn UPX coins. Players have an avatar that roams the city looking for proprieties to purchase. I like to refer to it as the \u201creal estate game\u201d, as the more properties of a single color one acquires, the more valuable ones properties are<\/p>\n\n\n\n

https:\/\/www.upland.me\/<\/a><\/p>\n\n\n\n

Splinterlands<\/strong> \u2013 It is a digital collectible card game centered on blockchain technology, where players can build a collection of cards, which have diverse abilities, and utilize them in combating other players in skill-based matches.<\/p>\n\n\n\n

https:\/\/splinterlands.com\/<\/a><\/p>\n\n\n\n

OTHERS:<\/p>\n\n\n\n