GameFi As Income Stream

GameFi As Income Stream

Play To Earn Games | 23 Mar 2024 20:44 UTC

How to Earn a Livelihood from GameFi: All You Need to Know.

Making a livelihood out of playing your favorite video games is something out of a fairy tale book. Though this idea was a far-fetched one a couple of years ago, not anymore.

Gamefi is the most trendiest niche in the cryptocurrency industry at the moment, no less than a gold rush. Blockchain gaming has caused a frenzy in the video game industry and it is set to challenge the traditional $175 billion global video game industry.

GameFi As Income Stream, All You Need To Know
GameFi As Income Stream, All You Need To Know

How come this new phenomenon is so much popular? What is GameFi all about? Can you really earn real money out of playing games? And what are the ways to make money out of GameFi? We have got you covered.

GameFi Basics

To put it simply, GameFi is a combination of video games and finance where cryptocurrency, blockchain technology, and NFT's are incorporated into a video game. This video game then provides various ways for gamers to earn money playing the game.

The GameFi concept operates on the Play to Earn model of video games where players are rewarded with financial incentives. Some games require an upfront investment to start the game activity while others are free to access.

The reward works in several manners where players can receive bonuses while completing in-game tasks, or battling it out with other players. Everything a player receives in the game becomes a digital asset with a value behind it.

Such games are then integrated into decentralized finance tools for issuing tokens, algorithmic stable coins, loans, and more.

GameFi Mechanics and Ways to Earn

Different GameFi projects have different mechanics, however, there are some commonalities. The in-game items are treated as NFT's that come in different shapes and sizes like avatars, land, weapons, costumes, tokens, and pets.

These games let you have the access to full ownership of your in-game items. These items can be claimed via playing the game and are tradable in market places for cryptocurrencies.

NFT's can be won by achieving and reaching to higher levels in a game.

Besides NFTs and leveling up in a game, there are other ways to earn via GameFi. Some games allow gamers to make predictions on gaming results.

One such example is Bet Naija where you bet on the results of gaming competitions and win money.

GameFi As Income Stream, All You Need To Know
GameFi As Income Stream, All You Need To Know

Another exciting way to earn money though GameFi is renting out your NFT. In-game items like land can be rented out to others and its prime example is evident in Decentraland where people rent out their digital space to others for real money.

The value behind these digital lands are exorbitant; Decentraland sold Fashion Street Estate for a whopping $2.42 million. Similarly in The Sandbox, Metaflower, a virtual yacht, got purchased for $650,000.

Another way is to complete in-game quests and winning battles to earn game’s token like in Axie Infinity where players are rewarded SLP.

The DeFi method and Staking Opportunity

Some blockchain games allow players to make money via staking i.e. by locking up their in-game assets and cryptos in smart contracts.

The staking takes place in gaming guilds and in return interest is earned. Yield Guild Games provides staking opportunity and is a relevant platform for this method.

GameFi Coins

Some of the GameFi coins are trending hot right now and holds a promising future ahead. These coins enable gamers to earn tokens by starting out on games that they love to play.

These tokens have the utility to purchase in-game items, redeem rewards, as well as donation to your favorite game and its developer.

Some of the most popular GameFi coins nowadays are Pac Man Frog (PAC), Gala (GALA), and the Sandbox token (SAND). These coins are appealing to both gamers as well as crypto enthusiasts.

If you are just getting started, go for games like Axie Infinity, CryptoBlades, Sorare, Gods Unchained, and Splinterlands. These games provide an exciting way to earn income in crypto space.

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Monkey League - $MBS Token Soccer NFT Game - Review

Monkey League - $MBS Token Soccer NFT Game - Review

Monkey League is a soccer game that combines fast-paced, turn-based gameplay with the use of non-fungible tokens (NFTs). It is easy to learn, but difficult to master, making it an engaging and exciting experience for players of all skill levels. Monkey League combines elements of both FIFA Street and chess, creating a unique and strategic gaming experience. Players use Monkey NFTs, which are digital assets that represent unique in-game characters with specific abilities, advantages, and statistics, to compete in soccer matches. The gameplay is inspired by FIFA Street, but with the added depth and strategy of chess. This creates a game that is both fast-paced and challenging, and requires players to think critically and make strategic decisions in order to succeed. In Monkey League, players can build their ideal team of four Monkeys to fill the striker, midfielder, defender, and goalkeeper positions. These Monkeys, which are represented by unique NFTs, are born with specific skills and attributes that make them well-suited to particular positions. However, players can also train their Monkeys to improve their abilities and reach their full potential in any position. This allows players to tailor their team composition to their own strategic preferences and create a squad that is well-balanced and equipped to handle any challenge. Monkey League Stamina and Squad: In Monkey League, players must carefully manage their Monkeys' energy levels and health in order to ensure that they are able to perform at their best on the field. Playing matches consumes Energy and exposes Monkeys to the risk of injury, so players must use nutritional and medical supplies to keep their Monkeys healthy and well-rested. Having a larger squad of Monkeys and substitutes on hand can be beneficial in this regard, as it allows players to rotate their Monkeys and keep them fresh. As players compete in matches and advance through the Monkey League ranks, they will earn in-game currency and experience points that can be used to improve their Monkeys and increase the value of their NFTs. By investing Energy and supplies, players can earn $MBS and XP points that help them progress through the game and achieve greater success. Ways to Earn in Monkey League: You can make money while playing Monkey League both actively and inactively. Playing games and scoring goals will be your main route to moving up the ranks and earning TOP MonkeyBucks $MBS for more intense, active gamers. You can watch matches as a spectator, encouraging the winning team's spirit and earning $MBS in the process. This option is for more passive players or those who simply want to enjoy the game. In addition, players will also be able to buy Stadiums and start earning money from the matches they host.

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Conquest.eth - NFT Game Review

Conquest.eth - NFT Game Review

Conquest.eth is an open-ended play to earn space strategy game to conquer planets and other species in the universe based on the Ethereum blockchain. Conquest. eth is the brainchild of a Scottish blockchain game studio Etherplay. The game dynamics will focus on space exploration and the conquering of various planets and realms. What makes Conquest different from the other blockchain games is that it is completely on the Ethereum blockchain. This means that not only the players will have ownership of game assets in the form of NFTs; there will be tokens having real value, but also the rules of the game will be on the blockchain. The on-chain game will allow the users a decentralized structure, where no servers are needed and the players are more independent. The players will become the owner of the game eventually. Conquest.eth is an exciting space strategy game that allows players to conquer planets and other species in the universe. The game is built on the Ethereum blockchain, which means that players can earn rewards by participating in the game. One of the best things about Conquest.eth is its open-ended gameplay. Players are free to explore the universe and conquer new planets as they see fit. The game also features a variety of different species, each with their own strengths and weaknesses, making it a real challenge to conquer them all. The graphics and sound effects in Conquest.eth are top-notch, creating an immersive experience for players. The game's interface is user-friendly, making it easy to navigate and understand, even for new players.

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Imperium Empires: Best RTS NFT Play-to-Earn Game on Avalanche Blockchain

Imperium Empires: Best RTS NFT Play-to-Earn Game on Avalanche Blockchain

Imperium Empires is a groundbreaking space-themed third-person action RTS NFT game within the Avalanche Blockchain network, introducing in-game currencies like IME and IMC tokens. This innovative GameFi 2.0 AAA metaverse offers an array of PvE and PvP experiences and integrates DeFi into gameplay. It further aims to bridge DeFi with the global gaming community. Additionally, players form guilds to conquer the metaverse and construct empires, addressing issues through unique features like NFT burns in PvP and fostering a dynamic, team-oriented environment. With in-house game development expertise, Imperium Empires pioneers a fun-to-play, interconnected gaming ecosystem, revolutionizing the play-to-earn landscape. This space-themed, third-person action RTS NFT game is play-to-earn and powered by the Avalanche network. This innovative gaming venture introduces two in-game currencies, IME and IMC tokens, and falls under the GameFi 2.0 category, fusing traditional gaming experiences with decentralized finance (DeFi) elements. Imperium Empires seeks to bridge the DeFi and global gaming communities while offering a rich array of player-versus-environment (PvE) and player-versus-player (PvP) experiences. One of the standout features of Imperium Empires is its focus on forming player guilds to conquer the metaverse and construct empires. The game incorporates unique mechanics, such as NFT burns during PvP encounters, fostering a dynamic, team-oriented environment. Imperium Empires is a notable player in the play-to-earn landscape, drawing attention for its space-themed AAA metaverse. The game caters to players of all skill levels, with a Safe Zone providing a low-stress environment for PvE combat orientation. Spaceships are designed to be easily repairable, making it an ideal learning ground for newcomers. The game also offers the Combat Zone for more intense PvP combat, where the stakes are higher, and spaceship component destruction is a possibility. The pinnacle of challenge lies in the War Zone, where high risks offer the greatest rewards, albeit with the potential for permanent spaceship loss. In addition to combat, players can scavenge from defeated ships, adding an economic dimension to the game. On the PvE side, Imperium Empires offers asteroid mining, enabling players to refine ores for profit or use them in guild construction projects. This diversity of experiences ensures there's something for every player, from cooperative mining to territorial control and various combat encounters across distinct zones. Tokenomics play a pivotal role in the Imperium Empires ecosystem, with two in-game currencies. IME tokens can be obtained by looting defeated enemy spacecraft and participating in seasonal tournaments. These tokens are instrumental in acquiring NFTs and engaging in staking activities. On the other hand, IMC tokens can be earned by selling refined ores on the marketplace and through guild-based rewards. Players can utilize IMC tokens for ship repairs, covering guild facility fees, and contributing to guilds for structure development. As for community response, there appears to be a mix of anticipation and skepticism. Some users express excitement about the gameplay and project's potential, while others raise concerns about the project's lack of a gameplay trailer before its IDO (Initial DEX Offering) launch. Additionally, there is speculation about when popular content creators like PewDiePie might venture into the world of Web3 games, with some users indicating their intent to recommend Imperium Empires to such influencers.

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Alpha League Racing: NFT Thrills and Play-to-Earn Excitement - Game Review

Alpha League Racing: NFT Thrills and Play-to-Earn Excitement - Game Review

Alpha League Racing is a straightforward game that allows players to earn rewards by racing their NFT cars in events, tournaments, and online friendlies. To get started, players simply need to acquire an NFT car and then participate in races to earn rewards. Players can purchase their ALR vehicles from platforms such as open.sea or directly from the Alpha League Racing website. Each vehicle costs only 0.25 SOL, but as the game becomes more popular, it is likely that the price will increase. Once you have your ALR vehicle, you can participate in races and earn rewards. One of the benefits of buying NFT vehicles in Alpha League Racing is that they can be upgraded and customized. Players can alter the appearance of their vehicles and use them across different blockchains, which means that ownership of these NFTs extends beyond the game itself and into the wider blockchain ecosystem. This adds an extra layer of value and ownership to the NFT vehicles. Alpha League Racing Gameplay: Alpha League Racing has an arcade-like feel to it, with vibrant colors and imaginative maps. Players can try out the demo for free to get a feel for the game, which includes a few playable NFT cars and tracks. The demo allows players to participate in a fast and friendly racing session to get a taste of the overall experience. Even if you only try out the demo, you'll get a sense of the excitement and fun that the full game has to offer. While Alpha League Racing has an arcade-style feel, it also has realistic handling mechanics that add a level of authenticity to the gameplay. As the game continues to grow in popularity, it is likely that it will continue to improve and evolve, offering players an even better racing experience.

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Might’n Mow’em - Game Review

Might’n Mow’em - Game Review

Might'n Mowem is a must-play PC game for fans of rogue-lite bullet hell and play-to-earn gameplay. A bullet hell rogue-lite game, Might'n Mowem bears some similarities to Vampire Survivors. You begin every run with very little power, and by killing enemies, you gain experience. As you advance in levels, you can select from a variety of skill trees that will increase your damage output and improve your defense. You can definitely finish the bronze bounty without much assistance if you give it a couple runs.

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FOTA - Fight of the Ages - Game Review

FOTA - Fight of the Ages - Game Review

FOTA (Fight of the Ages) is poised to make a splash in the cryptocurrency gaming market as the first game to offer a truly immersive metaverse experience. This is made possible by the fact that FOTA is designed as a mixed reality (MR) game, which combines elements of both virtual and physical reality to create a fully interactive and seamless gaming environment. Players will be able to explore, battle, and interact with one another in a way that feels both real and fantastical, making FOTA a truly one-of-a-kind gaming experience. FOTA allows players to explore the 3D game world on any platform that is compatible, making it accessible to a wide range of players regardless of their preferred device or operating system. In order to appeal to as many players as possible, the developers of FOTA have created versions of the game for multiple platforms using the Unity 3D game engine. This means that the game will be available on Mac, Windows, Android, and iOS, as well as through the WebGL API in modern web browsers. No matter what device or operating system you prefer, you'll be able to play FOTA and enjoy all that it has to offer. With this level of accessibility and flexibility, players can choose to play the game in whatever way works best for them. FOTA- Fight of the Ages Gameplay: Mixed reality is a powerful tool, but it's only effective when used in a way that enhances the gameplay experience. Fortunately, Fight Of The Ages appears to have identified a gaming market that is well-suited for this new technology. The game itself is a top-quality multiplayer online battle arena title with a range of game modes to suit different player preferences. Whether you prefer fast-paced action or strategic planning, FOTA has something for you. With its innovative use of mixed reality and its focus on delivering a thrilling and engaging gameplay experience, FOTA is poised to become a leader in the cryptocurrency gaming market. Players can explore Greenland, The Earth, and The Nightmare, the game's three main areas, in a 30-level campaign mode that is quest-driven. Players must complete tasks in various worlds to receive rewards in the form of experience points and the game's native FOTA tokens. Additionally, there are plans to host unique monthly and seasonal missions with new obstacles and even better rewards.

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Big Time: NFT Third-Person Action RPG And NFT Marketplace

Big Time: NFT Third-Person Action RPG And NFT Marketplace

"Big Time" is an innovative NFT (Non-Fungible Token) third-person action RPG that offers a cooperative gaming experience. In this game, players have the opportunity to form groups of up to six players and embark on adventures within a vast 3D overworld, including a hub called Epoch City, which bears a visual resemblance to popular games like No Man's Sky, Destiny, Fortnite, and Skylanders. The central mechanic of the game revolves around time machines, which bear a striking resemblance to black hole portals. These machines are used to transport player teams into dungeon instances, where they engage in real-time combat against a variety of adversaries. Combat in "Big Time" combines magic-based, melee-based, and hybrid combat styles. Interestingly, these time machines can be customized using the player's NFT artifacts and are also used for switching between character classes. Prior to venturing into dungeons, players can assemble parties of up to six members. Once in the dungeons, they face opponents, tackle obstacles, and collect items that can be used to enhance character development or traded for other cryptocurrencies or fiat currency. Additionally, "Big Time" boasts its own NFT marketplace, enabling users to trade, purchase, and sell in-game assets. The marketplace employs a unique Vault system that accepts payments via debit and credit cards, enhancing accessibility for players. One of the unique features of the game is its "play-to-earn" concept, which incorporates timelines. Players can use the same character to explore different class tracks at any given moment, creating a vast metaverse within the game. This grants access to a multiplayer digital environment with numerous timelines for exploration. "Big Time" features four distinct character classes: Time Warrior: Specializes in close-quarters combat and intense gameplay. Chronomancer: Excels in magic, precision, strategy, and ranged strikes. Shadowblade: Known for speed and stealth. Quantum Fixer: Specializes in support skills, including healing and enhancement. What sets "Big Time" apart is its flexible character class system. Players can switch between classes with the same character, allowing them to adapt their playstyle on the fly. Building a group of complementary characters for battles in the game is likely to require strategic planning and a deep understanding of the game's dynamics. "Big Time" represents a significant evolution in the world of NFT-based gaming, offering a unique and immersive experience for players who embrace this innovative genre.

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Play To Earn Games: Best Blockchain Game List For NFTs and Crypto

Play-to-Earn Game List
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