A new cryptocurrency use case is booming, particularly in parts of Asia, and is gaining ground in other parts of the developing world. “Play to win” is not only a new source of income where people can earn real money by playing computer games, but it is also revolutionizing the cryptocurrency market by allowing investors to invest in a different category and Cryptocurrency holders earn a return. nft gaming platform development It is creating a three-way economy to build wealth while making it easy to enter the world of cryptocurrencies.
There is still a long way to go until all the potholes are smoothed out, but the proof of concept has been successful and a wave of innovative projects and investment is making its way into the mainstream. We are in the “early adopter” phase of the innovation adoption curve , and now is the time to learn about this new market and how you can take advantage of it in three ways. And the best part is that you don’t have to be an avid gamer, nor a cryptocurrency or NFT holder, to get in on the action.
develop : NFT gaming platform
Play to win (P2E)
There are more than 800 blockchain-based video games that allow you to earn rewards with cryptocurrencies or NFTs, according to Playtoearn.net . Of those, more than 200 are live. Most have been released in recent years, with the leading P2E game, Axie Infinity , starting in March 2018. It has since reached a valuation of $3 billion .
The hype around these games started during the pandemic in 2020, when Axie Infinity launched its AXS governance token on public exchanges. An increase in the number of players fueled demand, and Axie Infinity protocol revenue increased by a staggering 12,047% in three months. As of May 2020, his income was just under $3 million; in August of that year, it peaked at $364.4 million.
Axie Infinity Sky Mavis reports that the game has surpassed two million daily active users. Most of the players are in Southeast Asia, with 10% in the United States and the remaining 20–25% in Europe and Africa, according to Naavik . But there is a particular barrier for Axie Infinity players : you need to buy three Axie characters (NFT) in order to play and earn rewards. These NFTs are now around $400 each, taking the price off a lot of potential players.
So if you want to play and don’t have an extra $1,200, you can apply for a scholarship program through a guild. Loot To Yield registers 23 guilds at the time of writing, investing in NFT games and lending them out to players. The profits are then shared with the guild and the player.
2. Rent to earn
So you don’t want to play the game? You can still make money from P2E by owning NFTs and renting them out to guilds. This is a relatively new trend coming to the NFT space, but it’s showing quite a stir. Not many guilds offer this service, but just like playing to win, it’s sure to catch on too.
A Stratis study found that 58% of 197 US and UK game developers said they are starting to use blockchain technology, while 47% have already started incorporating NFTs into their games. It won’t be long before we see more innovation in the NFT gaming space, generating more opportunities to make money.
3. Invest in NFT games and guilds
If you don’t want to play the games and don’t own game NFTs, the third option is to invest in the games and guilds directly. You can do this in different ways.
Before an organization’s token is listed on a public exchange, there is usually a pre-sale round on Launchpad. This is when the public may have the opportunity to invest in the token at a pre-sale value, which is typically much lower than the initial exchange offer. It’s super competitive; you may not be guaranteed a certain allowance, and there are limited allowance amounts and vesting periods.
Once they are publicly available on an exchange, you can also consider investing in them by purchasing them from the exchanges. Compare decentralized exchanges, like PancakeSwap or Uniswap, with centralized exchanges like Binance or Kucoin.
Depending on how they have designed the token utility, you can also stake your coins. For example, if you buy Axie Infinity ‘s AXS token , you can stake it and earn more rewards, currently yielding 88% APR at the time of writing.
The blockchain gaming NFT gaming development company is estimated to be worth just under $10 billion, but it is a drop in the ocean of the gaming world, accounting for only 6% of the $10 gaming industry . 173 billion (measured by income).
While we are at a pivotal moment in time to see this new industry flourish, there is still more to come within the current set of games, platforms, and NFTs. And there will be even more opportunities with the new projects that are in development and those that have not started yet. It is a good time to see this space and participate.
visit : https://www.blockchainx.tech/nft-gaming-platfrom-development
