How to make money on blockchain games with the Play-to-Earn concept?

GameFi are blockchain projects that allow you to monetize the gaming experience: the user makes a profitfor participating in the game. All items and rights of the players become their property: characters, land, artifacts, clothing and much more.

Project developers choose cryptocurrency forsettlements within the project, but most often each platform creates its own token. Some projects may require a small investment to start gaming activity, but in general you just need to play.

There are other earning options in GameFi.NFT objects can be sold: the price of items will be higher, the more popular the game is. You can also rent out your virtual property, participate in tournaments or bet on competition results. In some projects, you can stake earned coins.

RBC Crypto experts spoke about ways to make money in gaming blockchain projects and about the prospects for the GameFi industry.

New opportunities

The main principle of making money in this industryis the principle of Play-to-Earn (play to earn). Players are paid for what they play - either the hours spent in the application or specific useful in-game actions, explained Nikita Zuborev, senior analyst at Bestchange.ru. He added that what is less common to see is a slightly modified revenue mechanism - generating NFTs based on an existing collection of non-fungible tokens.

All schemes come down to what the developer paysusers for using his application, in this case games, the expert noted. Depending on the mechanics of these games, the ways of investing in such projects may differ slightly, Zuborev specified.

He cited the example of the game Axie Infinity, in whichTo “spread NFT characters,” players need to spend the in-game currency SLP (“love potion tokens”). If the number of players continues to increase, then it may be enough to buy such a token in the hope that increased demand will push prices up, the analyst said.

He said that more sophisticated investorscan take part in the game process, then earnings will consist of the sale of game currency and newly received "characters". There are a lot of such games, but their principles are approximately the same, Zuborev is sure.

“The recent trend on STEPN has shown that in factprojects create very different 'something-to-earn' mechanics: run, jump, play, breathe, and even have sex. But each project is unique in some way, and you need to study its history and perspectives individually.”the expert warned.

According to him, it’s enough to buy tokens somewheremanagement, and somewhere the game will involve the investor in internal processes. For ordinary players, everything is simple - they exchange their time for money from developers, says Zuborev. He added that you only need to assess the risks if entering the game requires an initial investment to purchase a starting set of tokens.

Projects in which there is a gamecomponent, act as a good guide to the world of cryptocurrency for people who are not yet familiar with blockchains and digital assets, says Andrey Podolyan, CEO of Cryptorg. According to him, such projects fulfill the role of the “mass adoption” (mass adoption) industry that is necessary.

The expert explained that earnings in these projectsusually carried out by pumping characters, improving game items and other similar actions. Often, with such updates, a certain amount of game coins is burned and ceases to influence the market, Podolyan specified.

“Such game projects can greatlyshoot in terms of profit, but usually blown away over time. So far, there has not been a single game that would allow you to earn powerfully for a long time. I hope that such games and the necessary mechanics will appear over time., the expert admitted.

good prospect

The principles of GameFi are not new, although the connection of projects withblockchain revived interest in the entire industry, says Nikita Zuborev, senior analyst at Bestchange.ru. He explained that all the principles of getting some income existed before the decentralization of games.

“In most cases, if a player receivessomething for free, then the commodity in this transaction is himself - his time, personal data, information about behavior, his attention, etc. All this can be sold to analysts, advertisers, researchers and other interested parties.Zuborev says.

The analyst is of the opinion that the prospects forthe gaming industry is very positive, and GameFi, as a small part of this industry, will also receive dividends from this. Most likely in the future, more and more projects will switch to the blockchain, and the desire of people to consume such content will continue to bring new institutionalists and developers into the industry, Zuborev suggests.

Game projects

First of all, it is better to pay attention tolarge completed projects with a large audience: Axie Infinity, Alien Worlds, Upland, CryptoBlades, Splinterlands and many others, recommends a senior analyst at Bestchange.ru. He added that the tokens of these projects have the highest liquidity, which will reduce the risks of investing in them.

Another strategy might be to buyutility tokens of blockchains, in which the majority of GameFi projects are located, according to Zuborev. In addition to Ethereum and Binance Smart Chain, the expert named more specific ones: WAX, EOS, KardiaChain, ThunderCore.

The specialist noted that to trackyoung projects without personal experience are very dangerous, since many of them are deliberately created for the purpose of fraud or on the principle of a financial pyramid. Others may cease to exist due to ill-conceived business processes and external manipulation, Zuborev warned.

There are hundreds of failed projects, the founder agreedinternational forum of digital mining and trading in the CIS Terracrypto Nikita Vasseva. He is sure that most often the reason for the failure of a startup is an insufficient number of players or ill-conceived tokenomics.

The expert called promising those projects wherea strong gaming community with high engagement has been built, which allows brands to integrate into the game. It is worth paying attention to the coins of gaming studios and native tokens of the five most popular games, Vassev believes.

“If you can see the active dynamics of new wallets, users and the internal growth of transactions in the project, then you should take a closer look at it”, - concluded the expert.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest crypto exchange in the world is Binance. The platform supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bitget	https://bitget.com	7.8
3	Huobi	https://huobi.com	7.2
4	AAX	https://aax.com	6.9
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.