CAN YOU REALLY MAKE MONEY WITH NFT GAMES?
Stay tuned for the fact that this is the kind of topic that requires a glossary in order to follow through. Here we will talk about tokens, cryptocurrencies, NFTs, Play to Earn games, blockchain technology, the payment of millions of US dollars for tweets achievable for the entire planet and the possibility of earning a living comfortably on the sofa while taking care of plants in a videogame.
We are talking, in short, about the phenomenon of NFT games that is rising like foam in this 2021. Titles like Plant Vs Undead, Axie Infinity, CriptoKitties, Star Atlas or Gods Unchained.
Let's lay the foundations of this story; Surely the reader has heard talk on some occasion about cryptocurrencies and blockchain. The first are virtual currencies (Bitcoin the most famous, today trading at more than thirty-seven euros per bitcoin) and the second is the block chain technology that ensures virtual currency transactions and that each Bitcoin is unique. and traceable in its previous accounting movements.
In a digital planet where everything can be copied as many times as necessary, blockchain introduces the term digital scarcity. That is, there is a certain number of Bitcoin units that can exist and that is part of its value.
This is important because the value of being a unique and non-replicable object is one of the bases of NFTs and NFT games that also use blockchain technology and are known as Play To Earn games. In other words, play to win (money).
What are NFTs?
NFTs are Non Fungible Tokens or tokens that are not fungible or not exchangeable for another, distinguished from the rest. It is a new digital format that allows a digital certificate to be associated with any virtual object, based on blockchain technology, which transforms it into a unique piece.
This is how, for example, the first tweet in history was sold by Jack Dorsey last spring for almost 3 million US dollars in NFT format. Yes, the same tweet that anyone can find on the Twitter Creator Timeline, but this is the good one. Another denomination that brings more clarity to the term is that of crypto-collectible.
All this is what brings us to the explosion that NFT games have experienced in recent months. Games for video consoles that incorporate an economic system with NFTs and cryptocurrencies with which interests can be obtained in the game and in real life. And of course, it is then when "playing" goes into the background and earning income becomes the main fun.
The case Plant vs. Undead
There are plenty of free titles out there, but let's focus on one that has seen an incredible rise and fall in recent months: Plant vs Undead.
And that if it remembers the Plants Vs Zombies so popular a few years ago, it is because it is clearly inspired by it, except for the part of the economic system.
In addition to fighting zombies, the game offers the chance to be a gardener taking care of plants on a farm. The plants are NFC plants, which means that they have a unique value that can be higher or lower depending on supply and demand; and can be sold to other players or simply played with. It is a function achievable under a payment of around €65.
That amount allows you to get five units of the game's cryptocurrency called PVU. This cryptocurrency can be exchanged for real money in exchanges (markets) outside the game, and its acquisition is a mandatory requirement to start planting and watering plants. Its current price is around three US dollars, but at the end of August each PVU was around twenty-five.
But the player does not work directly with PVU's but rather with LE, an internal currency that cannot be sold in the real world but is the one that gives access to achieve more PVU's in the game. In this way, 100 LE is equivalent to a USP, from which a real benefit can be obtained.
How are LE's achieved?
Each NFT plant that is cared for produces them and this is where many have seen the opportunity to earn income easily. In the game there is also the figure of the landowner, owner of the farm and who also gets LE's, in the same way as the gardener who does the work of pick and shovel (it is a saying).
The landlord has a higher barrier to entry in the game and will have to pay several thousand and thousands of euros to acquire it. Here is another phenomenon that is the rental of farms to gardeners. So it is the gardener who gets his hands dirty (another word) while the farm owner distributes the benefits achieved with him.
Generally speaking, this is how NFT games work. They use economy systems that use cryptocurrencies exchangeable for real money outside the game and also NFC's that can reach a
acquire tremendous value. But that value depends on the price and this on supply and demand. As has happened to Plant Vs Undead and other NFT games, as word of being able to make money with little care spread, the game has experienced an explosion of players who have now rushed to sell their USPs, whose value has come down. below.
Plant Vs Undead assayed a thirteen hundred percent development in one month. Their cryptocurrency quickly devalued, and the story shifted from smart-ass earners with little care to users who had invested essential amounts of money too late and are at a loss with little prospect of things getting better. Surely there is a Moral behind all this.
Si quieres conocer otros artículos parecidos a CAN YOU REALLY MAKE MONEY WITH NFT GAMES? puedes visitar la categoría Technology.
Te podria Interesar