GameFi has taken the gaming world by storm with the invention of blockchain games that have vastly expanded the possibilities of P2E gaming. Gamers can now own their assets and earn money off them as investment tools rather than just spend time on gaming as a hobby, and they can also earn the games’ tokens which will also gain value over time. For example, Axie Infinity’s AXS token grew in value through 2021, and players can earn the tokens within the game to keep as investments. Digital assets within the game such as land, characters (e.g. Axies in Axie Infinity, LAND in Decentraland) can also be used as investments to be sold for a profit.
There’s a lot of potential to earning with GameFi for both users and developers who want to enter the scene, but when it comes to starting out or even enhancing your profitability when you’re at a plateau, what should you do?
Here are some crucial tips to maximizing your GameFi and NFT experience and enhancing profitability, whether you’re new or you’ve been a part of GameFi for a while.
Have a safe digital wallet that doesn’t just function for you, but actually works for you
There are many wallets out there such as MetaMask, Coinbase and Trezor to keep your cryptocurrencies, but when it comes to GameFi, no wallet can outperform MetaPocket.
MetaPocket supports multi-currency, multi-layer and cross-chain transactions, aiming to be your one-stop digital wallet for all things NFT and GameFi. It supports top platforms including Ethereum, Binance Smart Chain, Polkadot, Fantom, Rarible, Opensea and more, and supports the top games like Axie Infinity, Decentraland, The Sandbox, Mobox and lots more. In-app, you can access the Game Discovery and In-App Game Browsing feature to find and interact with many blockchain games, and you can also make use of the Yield Farming feature to stake supported GameFi tokens to profit from. MetaPocket also has a utility token METAPK that not only gives users certain rewards like NFTs or airdrops, but also protects consumers by having a deposit system that can protect consumers from potential loss if a game runs into any issues. As all good wallets should, they have high security with a 2FA system as well.
Identify upcoming promising projects
Decentraland, The Sandbox, Axie Infinity, Enjin Coin, and even NFTs like Bored Ape Yacht Club (BAYC) were once upon a time just a thought that a group of people had; some believed in it and some didn’t. Those who did probably did make quite a fortune if they chose to follow and invest their time and money into it.
Some examples of newer or upcoming GameFi and NFT projects include Illuvium and Woke Women Punks. Illuvium is an open-world exploration, NFT creature collector and autobattler game build on the Ethereum blockchain where players can play to earn in a graphically-rich sci-fi adventure and win battles to flourish and earn. You can own your Illuvials to trade as NFTs, or earn cryptocurrency in ILV tokens while playing and wagering in-game. On the other hand, Woke Women Punks is a collection of 10,000 uniquely and randomly auto-generated Punks which aims to represent women of different colors. From Hijabs to Cornrows to over 15 different color skin tones, they seek to make the collection as diverse as possible so that everyone can have a chance to find a Punk they identify with. With the metaverse and inclusivity being such a relevant topic today, this NFT project is sure to top the charts!
Join social communities on Discord, Telegram and Twitter
Most crypto projects are active on Discord, Telegram and Twitter these days. A quick scroll on the websites of the projects mentioned above will bring you to their Discord, Telegram and Twitter links where you can learn more about the project and discuss thoughts with like-minded individuals. In crypto communities, many things still do rely on the community, so it’s always good to know what sentiments are like in the areas you’re interested or invested in.
Make use of platforms that can tap on community benefits
A great example of this will be Yield Guild Games (more famously known by their token YGG), a gaming guild focused on blockchain P2E games. It’s a community based on NFTs that connects blockchain gamers globally, aiming to build a network of players and investors who can help each other get started and grow. It’s really helpful especially for beginners and newbies who may not have the funds or expertise required at the beginning!
Don’t trust everything you see and hear online. DYOR!
You’ve probably heard this more than enough times, but always Do Your Own Research before putting your funds into any project!
With that, we conclude the steps to maximizing your GameFi experience – it’s time to earn!