Earning money from playing games has conventionally been restricted to content creators or e-sport athletes. With play-to-earn, the regular gamer can now easily monetize their playtime through selling and buying in-game NFTs or finishing targets in return for crypto rewards.
Binance NFT is in the top position for Play-to-Earn gaming, with a vast range of top-notch gaming drops and the primary IGO (Initial Game Offering) platform for promising NFT gaming projects. If you seek a faster way to begin your NFT gaming experience, you can start by exploring the latest collections.
What are top play-to-earn games?
In simple words, play-to-earn games are the latest video games where the leading player can earn rewards with real-world worth. While people have been gaining money from playing video games for several years via practices like unofficial marketplaces for in-game products and gold farming, the appearance of NFTs and blockchain technology has transformed the game literally.
Non-fungible tokens or NFTs are cryptographically unique tokens that you can use for proving ownership of content like music or images. Blockchain games allow users to take ownership of in-game products, like plots of land or virtual clothing.
Unlike in standard gameplays, where in-game products are owned by the organizations that developed the game and held on walled-off information networks, NFTs allows players to possess the exceptional assets they buy.
Furthermore, once you take possession of NFT, you can generously sell it to anywhere other than the platform itself where it was developed. It’s something more extraordinary than standard games.
That implies that NFTs showing in-game products can be sold and traded for fiat currency on any NFT market. And since those NFTs have insufficiency, they have real-world worth. With classic games, there is no reason to play than pure enjoyment.
The relationship is irreversible: you pay money for the game. Unless you are a streamer or an expert esports player with a considerable following, you will never monetize your gaming time. On the opposite, blockchain gaming provides players with the chance to get real money.
Since blockchain technology allows users to manage wherever they are, you can give value and get paid despite who they are or where they live in the globe.
How do play-to-earn games work?
With the combination of finance and gaming, play-to-earn games come under the category of games. Every game gives monitory incentives for progressing and playing. As mentioned already, there is generally a milling aspect of duplicating particular actions that allow users to receive money in two ways.
- Trading or earning in-game NFTs. Each NFT may signify a character, a product, or other game collectibles. These can be merely cosmetic or accomplish a purpose or use in-game.
- Receiving in-game cryptocurrencies. Let’s take an example of Axie Infinity, whose SLP (Smooth Love Potion), obtained by finishing daily quests or battling players and monsters.
Also, there is a third choice to get money with play-to-earn games, which is staking. Various NFT games enable users to confine cryptocurrencies or NFTs in smart contracts, ultimately generating rewards.
For instance, staking MBOX tokens offers its users MOMO-NFT Mystery Boxes. They have a random NFT of contradictory rarities, which the user can sell on the secondary marketplace. But, for earning huge staking rewards, you will require a highly substantial initial deposit.
How to buy gaming NFTs on Binance?
You can do this by following the below-mentioned steps-
Step 1: Put some crypto in your wallet
You will need to start by creating a Binance account and putting some cryptocurrencies like ETH, BUSD, or BNB. These are some of the prevalent cryptocurrencies available on the Binance NFT market.
Step 2: Access Binance NFT on the browser or App
Once you fill your wallet with ETH, BUSD, or BNB in your account, you can now explore the Binance NFT world.
Step 3: Finding the right NFT
If you are passionate about the game, go to the binance gaming gallery. For this, you will need to click on gaming/IGO. Here you will get a collection of Binance NFT games and upcoming drafts. You click on your favorite gaming project. Now, use the mystery box market or filter functions.
You can look for NFTs as per NFT types, sales types, collections, different categories, and more. Explore the recommended creators and collections of binance or trending NFTs.
Step 4: Purchase your preferred NFT
If you have selected your NFT and want to purchase one, there are various methods you can buy an NFT. These three methods are mystery box, fixed price, and auction.
4.1 How to bid for an NFT via auction
- Visit the listing page, and then click on the option “place a bid.”
- Here, you will have to type your bid amount and then click on the option “place a bid.” Pay attention to a minimum marker, which is nothing but the least amount you require boosting the previous bid for placing your new offer.
- After successfully placing the bid, you will receive the confirmation splash screen. Here, you will need to click on the “confirm” button to proceed. When the auction ends, the highest bidder will successfully buy the NFT.
4.2 How to buy a fixed price NFTs
- Visit listing menu and click on the “buy now” button to pay the overall price.
- Then you will receive a popup showing the confirmed money to pay for. Now, click on the confirm button to finish your purchase.
- You will receive a popup after payment is made, saying, “your payment is successful.”
- To view your NFT, you will need to click on the option collections.
4.3 How to buy an NFTs mystery box
- Visit the listing page of the mystery box. Here you will get a fixed amount for the box. To purchase NFT, click on the button named “Buy.”
- You will receive a popup for the confirmation, so click on the confirm option to finish your order.
- After the successful payment, click on the collections to see your new mystery box.
Conclusion
Play-to-earn games are a revolution for earning money through cryptocurrencies. With many latest ideas and projects, you should be in the first place in a queue to enjoy them. But, the play-to-earn model has made it feasible for players to earn finances. Though, you need to be vigilant because several games can be unsustainable high-risk because of the scams or tokenomics.
