Crypto gaming combines cryptocurrency and gaming, two of the most popular trends in the past few years. It’s a reasonably profitable hustle if you know what you’re doing, like how to set up an account, where to play crypto games, and, most importantly, how to pick the right crypto game. After all, most crypto games nowadays are play-to-earn, but they’re not free-to-play.
If you want to maximize your profits, you wouldn’t want to start by investing in an unprofitable game. With that said, below are three tips to help you pick the right crypto game.
1. Visit Crypto Game Developers For New Releases
Most gamers know that playing a game as soon as it comes out, or being a pioneer, in short, is highly advantageous. It applies to games, in general, including crypto games.
You get to enjoy bountiful incentives and may even receive exclusive items, or non-fungible tokens (NFTs) in the case of crypto games, as a reward for being a pioneer. These items may not be valuable immediately, but they can become one in the future. In short, the early bird catches the worm.
Decentraland, for example, has lands you can trade with other players. These lands were initially cheap, so you can easily buy one. Some players even got one for free during the game’s early stages. But now, you can sell these lands for 10x their original price.
That’s why you might want to look into the new releases of crypto game developers that have already made a reputation for themselves. Their tokens already have value since they’re used in their older games, but at the same time, it’s relatively easy to earn them through their new games. If you’re looking for new releases, you can play the best crypto games at Playa3ull.
2. Check CoinMarketCap’s Gaming Section
Every crypto game has what they call a gaming token. It’s the game’s in-game currency which you can exchange from cryptocurrency to real money. Like any other crypto coin, every gaming token has a market value and a circulating supply. For example, a gaming token from Game A may cost USD$1.83, while a token from Game B may cost USD$5.09.
The valuation of its gaming token reflects the game’s profitability. For instance, one of the most popular crypto games currently, Decentraland, uses two tokens, MANA and LAND.
The MANA coin, in particular, currently has a market cap of USD$1,309,056,975, making it the top 40 crypto coin. That’s why if you want to find a profitable crypto game, you should always check the value of its gaming token. You can do so by going to CoinMarketCap’s list of gaming tokens. The list should provide the following details about each token:
- Current value
- Changes in value within the past hour, day, and week (e.g., 1h%, 24h%, 7d%)
- Market cap
- Circulating supply
Keep in mind that this is just one part of the selection process. Even if a crypto game does have a valuable token, it won’t matter if the earning methods are extra challenging for newcomers.
3. Look Into The Earning Methods Of The Game
Most of the crypto games you’ll find online are more of a trading platform than an actual game. That’s because the only way to earn gaming tokens from these games is to purchase an asset called non-fungible tokens (NFTs) and sell them for a higher price. It’s no different from what you do in a cryptocurrency exchange. That often limits the game’s profitability.
Take Axie Infinity, for example. Each AXS coin costs USD$12.13, but you can only get AXS by buying an NFT. Then, you must sell that NFT for a higher price to make a profit.
For that reason, before diving into a crypto game, be sure there are several earning methods other than trading with other players. Certain games reward you with tokens by:
- Winning a match (e.g., first-person shooter (FPS), turn-based, strategy game, etc.)
- Selling your creation (e.g., digital art, wearables, clothes, character designs, etc.)
- Providing digital services (e.g., 3D modeling, coding, making videos, etc.)
- Completing achievements or milestones
- Becoming a top-ranked player in the game
Some of these might not be plausible, given your schedule. For instance, if you’re a full-time employee, providing services isn’t the best option unless the service in question is your hobby.
Similarly, becoming a top-ranked player is often not viable to most people. Put simply, you must pick a crypto game that offers an earning method that’s viable given your circumstances.
People nowadays tend to participate in trends simply because it’s a trend, but that’s not the mindset you must have when choosing a crypto game. Though, yes, popular crypto games tend to be more profitable compared to other games, there are hidden gems out there that might just be your next side hustle. But again, the game is just one part of the plan. Your efforts will also affect your profitability.