How do gamers earn cryptocurrency playing video games?
Gamers are earning cryptocurrency and NFTs by playing video games on platforms that reward players on a ‘play-to-earn’ model. This is a welcome departure from the common ‘pay-to-win’ model that was made popular by mobile games.
These platforms aren’t rewarding players in big name cryptocurrencies like Bitcoin, Ethereum or XRP – they are rewarding them in NFTs.
NFTs (digital items that only exist online) have boomed in popular culture even though the concept has been around for a long time. Most gamers have purchased and owned NFTs and not known it. Anytime you have purchased a player skin or custom paint job on an in-game vehicle, you have purchased a form of an NFT.
Video game streaming platforms have adopted the technology and began rewarding gamers with digital assets that they can turn into cryptocurrency. Cryptocurrency can in turn be swapped for traditional currency (like the USD, Euro or Yen).
What games or platforms can gamers earn cryptocurrency with?
Gaming platforms that reward players with cryptocurrency or NFTs operate on blockchain technology that proves ownership of scarce intangible items. These items are earned by players that stream on their platforms and are factored by the amount of viewers and subscribers as well as how many ‘donations’ are given by fans.
Twitch, an Amazon owned streaming platform, is the most popular service for gamers that supports use of cryptocurrency. They grant a 10% discount to all subscribers who pay in cryptocurrency. The platform does not currently reward their streamers directly with popular cryptos like Bitcoin, Ethereum or XRP but does grant them in-game assets that are called ‘Bits’.
Bits are worth around .01USD and can be redeemed for traditional currencies.
Axie Infinity, one of the most popular cryptocurrency rewarding games, has been financially supported by famed tech investors Alexis Ohanian and Mark Cuban. This is a strong indicator that video games working in the crypto world are becoming mainstream.
How can gamers turn NFT assets earned in game into traditional money?
Marketplaces like Eldorado.gg are focused on providing the gaming community a place to bargain fair prices for in-game items, skins, abilities, currencies and even entire accounts, the most popular ones are fortnite accounts for sale, coc accounts and New World Coins.
Eldorado.gg is known for quick transactions and low transfer fees (capped at 5%). This sets them well above most competitors that average around 15% transaction fees. The platform is also known for its flourishing community of Runescape players. And currently, new project Gamecamp is a place where you can find cheap cd keys.
DMarket takes a deep dive into the gaming NFT world by providing a full-service platform that enables crafting, buying, selling and trading of NFTs. It provides a world where gamers, streamers and developers can work together to earn cryptocurrency in the video game industry.