Investing in Crypto Gaming in 2023: Practices and Benefits

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The crypto industry merged with multiple other sectors, from healthcare to finance, but one of the most interesting is crypto gaming. In the modern days, you don’t buy Bitcoin only for future passive income but also for trading collectibles and playing games on the blockchain.Or, you invest in Layer 2 scaling software and create games ━check the Loopring price to get insight on what current digital tools add innovation in the crypto sector.

Axie Infinity, CryptoKitties and the Sandbox are successful blockchain-based games in which users have considerably invested to gain certain in-game assets. At the same time, with enough effort and time, playing games can also provide a form of passive income with minimal input.

Why invest in crypto gaming? Because it’s a rising trend with millions of users joining every minute. Besides the financial benefits, the crypto community is open and fun to engage with, which is why this sector has improved considerably in recent years. In-game ownership also plays an important role in investors choosing their favorite games.

So, how can you invest in crypto games?

Crypto gaming: how does it work?

The key to succeeding in the crypto gaming sector is investing fiat money to collect in-game coins and tokens. This helps your favorite characters level up and therefore leverage more digital benefits. You own your in-game items and use them for trading or selling, which is the sole reason why crypto gamers find this sector great since, in traditional games, they can’t own such assets.

Earning money by playing games on a blockchain is done through a pay-to-play model, so you must invest in the game to receive considerable earnings. There’s also the play-to-earn model, which allows users to enhance their playing experience through their investments.

Crypto games work through the use of coins, which are in-game cryptocurrencies that can be specially created for the game itself. For example, Axie Infinity has AXE as its main coin, while other less-known games use Bitcoin or Ethereum for trades and other transactions.

What are some ways to invest in crypto games?

Depending on your experience level, you can try various methods to leverage financial assets from playing blockchain-based games. However, you must be prepared beforehand and understand the risks you expose yourself to when trying this income-generator strategy. Let’s see what the possible methods are.

Swapping native tokens for cashing out

The usual way of making money with crypto games is earning more native tokens and swapping them or simply withdrawing them. Although this might be time-consuming, as you might need to achieve a certain sum of money before being able to cash them out, it’s one of the safest.

Breeding NFTs to create unique assets

Breeding is a fun activity that many crypto games have approached. You may have heard about CryptoKitties and its breeding option that allows you to care for and create unique cat designs. The process is basically minting a new token through which you earn passive income. Breeding new kitties means you can sell them on the market and create new ways of making money.

Staking tokens to earn rewards

Crypto staking ensures receiving rewards through earning interest, and it involves locking tokens to make them available to other players. Although not many coins can be staked, such as in the case of Bitcoin, native game tokens usually support staking as it develops the ecosystem and enhances safety.

Trading NFTs on the market

Trading in-game NFTs are one of the most effective ways to earn income. That’s because the market value has increased considerably and is expected to grow to $15B by 2027. However, NFT trading requires intensive research and also upfront funds. You must choose a safe and trustable place to trade, deposit the funds and then analyze the NFT market.

Participating in tournaments and having fun

Of course, the crypto gaming market should also be fun, which is why you should participate in game tournaments to earn rewards. These occasions are full of exceptional opportunities to get incentivized, but you may need to pay an entry fee to be able to win something. Of course, you can also play with friends and fight characters to earn unique rewards.

Mining tokens if you’re a professional

Mining tokens is one of the activities you do if you’ve been a crypto user for a long time, are equipped with strong computational power, and have considerable funds. In crypto gaming, mining tokens starts from the project’s release and adds to the game’s native token power so other players can leverage it. You need an advanced graphics processing unit to produce sustainable rewards.

5 gaming tokens worth investing in 2023

ApeCoin

If you’ve been around when the Bored Ape Yacht Club took over the internet, know that a governance and utility token has been created especially for this community. The ApeCoin ($APE) leverages incentivization and decentralization within the community, and coins are usually airdropped to holders.

The Sandbox

The Sandbox is a unique project that combines the technology of a DAO and NFTs through which games and GameFi users can benefit. The decentralized ecosystem works on a play-to-earn system model, creating the perfect ecosystem where players can play games and develop characters more creatively.

Axie Infinity

Axie Infinity ($AXS) is among the oldest games and the best play-to-earn model on the market. User players mainly maintain the blockchain-based platform and offer various activities, from buying, collecting and trading in-game assets. Some famous ones include Axies creatures that can take numerous forms and have different pieces that can be combined differently.

Decentraland

Decentraland is another unique project that combines 3D and VR technology through which artists and other interested users can interact easily and share or monetize their creations. $MANA is the native token through which transactions are facilitated, such as buying virtual real estate or voting on politics. The platform was solely created for authors and companies looking for an artistic environment to work within.

What do you think about crypto gaming?

The crypto gaming industry is rapidly expanding, and we’re here to see it develop. With numerous games, native tokens and earning opportunities, crypto gaming is set to change how blockchain is used.