Recently I was talking to Jacob (my nephew and the co-creator at privacypirate.xyz) about a video he had seen about how to become rich with Crypto Gaming. It got my attention because I have been looking at a couple of things related to this recently – android mining and NFTs (are they profitable?).
Someone recommended playing games where I could earn Monero. Can’t remember which the game was called but It’s a fun way of mining apparently. So there was this and the other thing was buying NFTs as in-game purchases.
Kind of like an in-game piece of digital real estate. Think of owning a house on Minecraft or a one of a kind jacket for your character on Fortnite.
The fact is that people are so very invested in computer games with both time and money kind of says it all.
Where cryptocurrency comes into the picture and especially NFTs is quite simple. It’s a part of the online ecosystem. Having it for the gamer creates a better online experience (somehow).
I don’t really understand it completely (to me these people are from another planet) but as far as investment opportunities go both Cryptocurrencies and NFTs are fluctuating assets. Their value potentially can become worthless but at the same time, it can skyrocket. Just look at the Squid Token for example for the pre-planned Squid Games computer game.
It was released with a value of $0.01 USD it went up in value to $628.33 and it crashed to $0.0007926 at its all-time low.
All in the space of a month. A $2000 investment would have made you a millionaire with the right timing.
This is a good example of the potential of the money to be made with Crypto Gaming assets. But…
Can You Become Rich with Crypto Gaming?
So Crypto gaming is taking the internet by storm. Not only this but it could also be the investment opportunity of a lifetime. This new online development has caught the imagination of many and very soon more people will all be doing this.
If you have kids you might have some idea about this already. Things have changed massively since the year 2000 when a computer (or video) game was just a one time purchase. It probably wasn’t until you had the Xbox and Playstation 2 that add ons really became a thing. Skylanders was quite popular and Disney Infinity (I think).
Then you got the Xbox 360 and PS3 with Xbox Live and Playstation Network and really this has all been in the pipeline ever since. Before Bitcoin pre-2010 but now all games are starting to do this. Further monetization through in-game assets.
For example, 5-Year-old Children are asking for Robux xx. Fortnite has its own cryptocurrency and this is not V-Bucks. [R]
More computer games are beginning to adopt blockchain technology, their own Cryptocurrencies and NFTs.
Depending on who the game’s developers are and the potential popularity of the new game there are certain indicators that people will be able to become rich with Crypto Gaming. So, this begs the question?
What is a Crypto Game?
As a concept, how to become rich with Crypto gaming can be a bit complicated to understand. Especially if you are not actually into Crypto or Gaming, but I’ll try my best to explain it to you now.
Crypto Games allows players and developers to own a part of the game. This can come in the form of skins, XP or weapons also known as an NFT (Non-Fungible-Token) which we will go into later. You can also own Cryptocurrencies that can be used in these games. Both are digital assets that will have real-world value.
In hindsight, these digital assets do not live on an in-game server. Instead, you physically own them. It’s your choice what you choose to do with them. You can keep them as collectables, trade them with other players for other items, or even sell them for real-world value. You have total ownership of these digital items and whatever happens with them is up to you.
It really is a fantastic concept which you can use to make yourself decent money. Like you are selling something in real life but through a digital medium. The great thing is that through this technology these are not actually things that can be duplicated. No matter what new game update is released by developers this is a private bit of code that is exclusively yours.
The way this is done hence the name Crypto Gaming is with the use of a Blockchain much like regular cryptocurrencies.
So, how to explain this?…
Blockchain Technology and Crypto Gaming
Blockchain technology is a database that is best known for its use with cryptocurrencies. In order to understand NFT’s and crypto games, you must also understand at least the basics of what Blockchain Technology is.
In short, Blockchain is a database which is processing and checks information constantly. Once a piece of information is added to the chain, it is highly secured making it extremely hard to cheat or hack the system.
Computers worldwide are constantly checking if all pieces of data are the same. Blockchain technology is at the heart of crypto-games. In fact, crypto gaming like both NFTs and Cryptocurrencies which are central components simply could not exist without it.
Indeed this opens the door for multiple investment opportunities. For not just the actual crypto games but also for investment in certain cryptocurrencies. The Ethereum blockchain is very popular for NFTs as an example but up and coming coins like DERO, Equilibria, Zano and ERGO (basically those that use smart contracts) could all benefit here.
This brings me to…
An NFT (Non-Fungible-Token) is a piece of data or in-game asset which could come in the form of anything that holds in-game value: For example a weapon, a skin, XP, artwork, a vehicle, etc.
As a whole NFT’s are owned by thousands already and have real-world value in these games. Players can trade, sell or keep for themselves. This is 1/2 of the amazing part of crypto gaming which can actually make people money.
NFT’s are not just restricted to gaming as they have thousands of other uses outside of this concept. For instance Artwork, Tickets for Live Events, Collectables are just some examples of NFTs. Some experts are even speculating that Governments will soon use NFTs themselves in future [R]
When it comes to the concept of if you Can You Become Rich with Crypto Gaming an NFT is a client-side piece of data. It is not held on any server which means it can be taken offline by its owner.
There are only a limited amount of NFT’s on each game so the rarer the asset is, the more value it will hold. It is mostly a case of finding the right ones to invest in. However, as I’ve already mentioned this is only 1/2 of it.
The other 1/2 is…
Game Specific Cryptocurrencies
So think Robux (Roblox), V-Bucks (Fortnite), Fortnite Coins (Fortnite), Minecoins (Minecraft), FUT Coins (Fifa) and the list most certainly will continue to grow. Also, you can bet that like any currency that hold value in the real world there will be the ones that fluctuate in value. It’s for sure going to be a risky business but look out for get-in get-out opportunities.
*Note those listed above except Fortnite coins are digital currencies, not crypto but as more games switch to crypto over digital currencies lookout for these new opprtunities.
Basically, the next Squidgame token. It is early days really but maybe just think of it like this. As long as these games are popular the cryptocurrencies associated will have value. A lot will probably just be stable coins but others will not.
Also, on the topic here what else is worthy of a mention is play to earn crypto games. For instance gaming tournaments with Crypto prizes. $MIMIR for example is a quiz game where players have to pay MIMIR to participate and whoever wins gets all the MIMIR. Games like this you can play to earn Crypto and win NFTs.
I haven’t really played any of these games (except Elvenar) but more of them are being released now. Some are probably quite pointless (apart from the usual fun of a computer game) and the prizes worthless but if you can find the good ones…
Here are just some examples of games I have been able to find that use either NFTs or Cryptocurrencies…
Crypto Games Currently Available To Play
I am pretty sure there are a lot more than this. These are just a few that have popped up from Brave Ads plus a few others. Not played any apart from Elvenar. Kind of complicated. You build up villages for Elves lol not sure where the money is to be made but take a look for yourself and of course, let me know what you think.
- NBA Top Shot
- Axie Infinity
- The Sandbox,
- Vulcan Verse
- Upland Metaverse
- Mimir Quiz
Now, regarding the topic Can You Become Rich with Crypto Gaming? Surely you can, it’s early days but it can be done. You just have to know what you buying, and the right time to sell it. Much like anything really.
To find out more check out this list of gaming tokens on Coninmarketcap.com
AxieInfinity (Axis) in less than a year has risen from $0.12 to $247.00 USD in value. Imagine finding the next game like this.
In Conclusion – How To Become Rich with Crypto Gaming! What Can You Do To Get Involved!
Do your research this goes without saying. Learn more about NFTs and gaming tokens. Follow the right people on Twitter, Twitch, Telegram and Youtube. Mark Tilbury, I shared a video from above and Alex Becker is another Youtuber that seems to know his stuff. His video I will share below;
So Alex I wrote about in my last post. His advice about NFTs was to work out who is who in the business. He used himself as an example and said to add him on Twitter, Twitch, Discord and all those kinds of platforms. Then check out who he follows, add/follow them and basically keep an eye out for new posts.
His other bit of advice for Crypto games (gaming tokens) that potentially could do well is to check out their data (use coinmarketcap) see how the data is trending and try to get in with games before the real take-off.
See this example of the Illuvium (ILV) gaming token below. Its All time low was $29.77 which it crashed to from $2,868.95 and now it is back up to $1166.52. If you follow this data you can find opportunities like this open up.
There are 2 Billion gamers worldwide so opportunities like these are going to open up more and more. Just try playing the games, look for games that are heavily advertised and the ones you like buy some tokens to squirrel away.
Not just this but don’t forget about NFT collectables and keep an eye out for more news on the Metaverse. Which is going to be the next thing with VR headsets and virtual reality. Facebook is actually called Meta now – coincedence?
Anyhow, I’ve quite enjoyed writing this post had no idea about the likes of Eluvium and Axie Infinity (Axis) it is safe to say that this is nothing like I’ve seen in Crypto before. Yup! watch out for the scams and crappy games but yes you can
Become Rich with Crypto Gaming!
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Many Thanks In Advance
To Your Success
Alex B. Chivers
Jacob R. Chivers