Wednesday, November 29, 2023
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

How To Earn Money From P2E Games

by firstcryptonews
March 24, 2022
in Press Release
How To Earn Money From P2E Games

Picture by Florian Olivo

With the evolution of blockchain over the years, trading cryptocurrencies like Bitcoin and Ethereum are no longer the only ways to participate and profit from it. One can now earn from trading creatives (think NFTs), DeFi (Decentralized Finance), the Metaverse, and even playing games – better known as GameFi. GameFi has been increasing in popularity especially in 2022, where more people are starting to see the potential in and engaging in making money from blockchain-based games.

The term “GameFi” is made up of the words “Game” and “DeFi”, as GameFi comprises of gaming and things in the DeFi world like cryptocurrencies, blockchain technology, and NFTs. For the avid gamers, this invention is wonderful as many can now earn while gaming – hence the term P2E, or Play-To-Earn.

So how exactly do you earn from GameFi games?

Just like how different games have various mechanisms, there are many ways that players can earn from blockchain games. While some blockchain games give players tokens for completing in-game tasks, some might also help players earn an income from the assets or NFTs players own in-game. There are three main features of GameFi games that allow players to earn: the P2E model where players earn from playing, the DeFi components that allow holders to earn through staking, and asset ownership where players can trade in-game assets as NFTs, moving the NFTs cross-chain.

Participating and Earning from GameFi

To start off, here are some GameFi-related apps to take your GameFi earnings to the next level:

Picture by MetaPocket

MetaPocket (Digital Wallet)

The first thing you’ll need is a good wallet to keep your earnings, before all else. MetaPocket is a digital wallet for GameFi that supports multi-currency, multi-layer, and cross-chain transactions. It offers Game Discovery for you to find your favorite blockchain game, an In-App Game Browser so you can interact with tons of GameFi games, and Yield Farming where you can stake any supported GameFi tokens to receive yield. MetaPocket is an all-in-one wallet that you can use to send, receive, and earn tokens without the complications; you can easily operate multiple assets across various networks.

It supports all the top GameFi games and tokens including the two listed below, and boasts its own METAPK token, a utility token in the MetaPocket ecosystem that allows users and developers to enjoy certain perks of the MetaPocket wallet.

Axie Infinity (Blockchain Game)

Axie Infinity is a popular P2E game that is built on Ethereum, where you own your own monsters (or pets) and take care of them. You can breed and collect Axies, then use them to engage in battles with other players or bots. Earnings are generated from winning and trading the SLP and AXS tokens.

Yield Guild Games (Gaming Guild)

Yield Guild Games is a P2E gaming guild, bringing players to earn via blockchain-based economies. It harnesses the DeFi components of GameFi, whereby YGG’s protocol is automated by smart contracts instructed by consensus through the DAO. YGG has built a global community of P2E gamers who play competitively to collect in-game rewards (e.g. players in Axie Infinity earning tokens from winning battles), producing revenue through the sale of YGG-owned NFT assets for a markup (e.g. renting Axies to players as part of a profit-sharing model, known as a scholarship).

Conclusion

With GameFi, the possibilities and fun are endless; with the power of blockchain, you now get to earn while having fun. You just need to choose the right wallet to store your earnings, and games to participate in to make the most profit for yourself.

Related Posts

ElmonX Unveils Van Gogh’s Masterpieces “Meules de blé” and “Cabanes de bois parmi les oliviers et cyprès” in Groundbreaking NFT Release

ElmonX Unveils Van Gogh’s Masterpieces “Meules de blé” and “Cabanes de bois parmi les oliviers et cyprès” in Groundbreaking NFT Release

by firstcryptonews
November 26, 2023
0

Two Iconic Works Fetched a Combined Total of $107,205,000 at Auction – Now Transcending Art with a Digital Renaissance on...

Neobank startup iPeakoin raised nearly $10 million Series A from Zhenfund

Neobank startup iPeakoin raised nearly $10 million Series A from Zhenfund

by firstcryptonews
November 23, 2023
0

iPeakoin, an innovative neobank building solutions across traditional finance and crypto, recently closed its Series A, "close to ten million...

The Next Evolution of Blockchain Hybrid Infrastructure THXNET. Launches its Main-net To Support Its Web3-as-a-Service Offerings

The Next Evolution of Blockchain Hybrid Infrastructure THXNET. Launches its Main-net To Support Its Web3-as-a-Service Offerings

by firstcryptonews
November 23, 2023
0

In a major leap for the digital age, THXLAB proudly announces the public launch of THXNET. main-net going live. THXNET....

Save Earth Mission’s Community Shatters Records with 9x Returns Poll Win

Save Earth Mission’s Community Shatters Records with 9x Returns Poll Win

by firstcryptonews
November 8, 2023
0

Save Earth Mission is taking an extraordinary leap towards environmental stewardship by offering a monumental 9x return on investments to...

The Symbiotic Relationship between Halving and Bull Runs in Cryptocurrency

The Symbiotic Relationship between Halving and Bull Runs in Cryptocurrency

by firstcryptonews
November 8, 2023
0

Introduction Let's embark on an exciting journey into the world of BitcoinCode (BTCC) (https://bitcoincode.technology/) , a recent entrant in the...

Pandora Protocol Genesis Box Officially launched: A New Era of DeFi Unfolds

Pandora Protocol Genesis Box Officially launched: A New Era of DeFi Unfolds

by firstcryptonews
November 8, 2023
0

Recently, Pandora Protocol has announced the official launch of the Genesis Box, an application meticulously crafted for early supporters, designed...

Next Post
Bingsu Private Sale: How to Participate

Bingsu Private Sale: How to Participate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Coinweb Launches the OnRamp Platform to Provide Full Fiat Rails Access to Digital Assets

Coinweb Launches the OnRamp Platform to Provide Full Fiat Rails Access to Digital Assets

1 year ago
VeVe Debuts Digital Collection from Award-Winning Artist Nathan Sawaya in collaboration with ElmonX

VeVe Debuts Digital Collection from Award-Winning Artist Nathan Sawaya in collaboration with ElmonX

3 months ago
BAKA MEME – MEME COIN FOR THE GAMBLING AND BETTING INDUSTRY

BAKA MEME – MEME COIN FOR THE GAMBLING AND BETTING INDUSTRY

6 months ago
Investing in the Brainpower Coinstore Labs, Coinstore.com makes a shining debut in the new era

Investing in the Brainpower Coinstore Labs, Coinstore.com makes a shining debut in the new era

1 year ago
BitConey Token – Simple yet innovative game reward token to reach masses and has a massive growth potential

BitConey Token – Simple yet innovative game reward token to reach masses and has a massive growth potential

10 months ago
With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

4 years ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

September 6, 2023

Press Release

ElmonX Unveils Van Gogh’s Masterpieces “Meules de blé” and “Cabanes de bois parmi les oliviers et cyprès” in Groundbreaking NFT Release

ElmonX Unveils Van Gogh’s Masterpieces “Meules de blé” and “Cabanes de bois parmi les oliviers et cyprès” in Groundbreaking NFT Release

November 26, 2023

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News