Cryptocurrency is one of those financial industries that’s packed with creative ways to make money. It’s also a very turbulent and somewhat emerging industry, despite the technology being around for well over a decade. When it comes to creative ways to make money with cryptocurrency, it doesn’t get much better than crypto gaming.
As the description indicates, this is an activity where you can literally play games that are linked to various cryptocurrencies while being financially rewarded for doing so. If this is a brand-new concept, so make sure you click for more information. But if you are at least somewhat familiar with and/or interested in making money through crypto gaming, keep reading.
Standard Rewards Issued Through the Native Token
No matter what the game is, there is a strong chance that various elements of the game will lead to rewards that are issued through a native token. In short, a native token is the designated currency for that game, although these have many other roles outside of crypto gaming. As for how they are issued, they might be accumulated by completing certain levels, missions, or by other means. It really depends on your chosen game as to how they are allocated.
But one thing is certain, the rewards are given using the native token that is linked to whichever blockchain underpins the game.
Unlocking or Earning In-Game NFTs
The second way of making cash with crypto gaming is perhaps one of the most intriguing of them all. You may have heard the hype surrounding NFTs in recent times. Maybe you’ve even bought and sold a few NFTs yourself. Either way, you should know that many crypto games have hidden NFTs that you can unlock or earn in various ways.
In this instance, the NFTs are linked to some element within the game. For example, FIFA might facilitate the unlocking of a legendary player, issued as an NFT. Note that this is just an example that many of you will be able to relate to. But much like the native token rewards mentioned previously, they are distributed in different ways.
It purely depends on which crypto game you choose to play.
Obtaining and Trading In-Game NFTs
Although this final section may seem similar to the previous one, it is actually very different. To be specific, all NFTs have some form of value assigned to them. So, in the previous section, when you unlock or earn an NFT through whatever method, you’ve essentially increased your crypto holdings by taking ownership of that NFT. But for those of you who wish to push the boundaries, you can then start trading the NFTs that you have in your possession.
Some games even allow you to upgrade these NFTs to make them more valuable. In turn, you can use your improved NFTs as leverage to trade your way into other, more valuable NFTs. By acquiring NFTs in this manner, there is every chance that you can accelerate the cash made via crypto gaming quite substantially.