In times past, parents used to admonish their kids for playing video games.

However, thanks to blockchain technology, the notion of a video game being a destructive past-time that adds no value the players to may fast be changing.

A rising number of play-to-earn (P2E) games are allowing gamers to earn real money just by playing. To compensate players for their time and work, these games leverage blockchain technology and non-fungible tokens (NFTs).

In this article, we'll share all you need to know about play-to-earn gaming, including how to get started generating money right away!



What are Play-to-earn (P2E) Games?

Also known as “crypto games”, Play-to-earn games (P2E) are blockchain-based games that redistribute a portion of their revenue to the player base.

Players may earn real money just by playing the game. These games reward players with digital assets like NFTs, character skins, or crypto which are earned by conquering levels, participating in contests, or just simply devoting time to the game.

Players’ assets can be used to unlock further rewards or sold on a digital marketplace. Players may exchange their in-game profits for real money in play-to-earn games.

The adoption of blockchain technology and non-fungible tokens has made this feasible. NFTs may be used to represent in-game assets, and blockchain enables the development of secure digital wallets that can contain actual value.

Play-to-earn games feature their internal economy in which players may purchase, sell, or exchange their game assets for real money.



6 Crypto Games You Can Earn From While Playing

Gods Unchained 

Gods Unchained is a tactical card game where players design decks that can battle a variety of techniques to tactically outwit their opponents.

A player earns experience points after every victory. The player advances to the next level when their experience bar is full, and a new set of cards is added to their collection.

To acquire cards and partake in PVP matches, players require $GODS tokens.

When a player wins, they gain experience points, which increases their experience bar. The player advances to the next level when the experience bar is full, and a new set of cards is added to their collection. These cards are kept on the blockchain and may be exchanged for ETH or other cryptocurrencies.

NFT marketplace Immutable X, has transacted more than $25 million worth of Gods Unchained assets since its inception in March 2021. The game shows no signs of slowing down, with over 13 million NFTs distributed so far and over 65,000 distinct asset holders.


2. Splinterlands

Splinterlands is a popular P2E collectible card game built on the HIVE blockchain in which players battle monsters for prizes.

NFTs symbolize these monsters, and they may be bought or sold for a number of cryptocurrencies. Quests, ranked play, and tournaments are among the several types of games available.

There are over 283 cards in Splinterlands that may be combined to boost stats, acquire strength, and defeat opponents. Water, Life, Death, Dragon, Earth, Fire, and Neutral are the factions that each card belongs to.

The game has two currencies: $SPS and $DEC, with the former serving as the game's governing money and the latter serving as a medium of exchange for in-game assets. Using $DEC, you may buy and sell cards, land, and other game objects as NFTs.


3. CryptoKitties 

It was one of the original play-to-earn games, and it's still popular today.

Players in CryptoKitties may breed and exchange digital cats. Each of these cats is represented by an NFT, which can be exchanged or sold for Ethereum (ETH).


4. Axie Infinity 

In Axie Infinity, players spend NFTs to purchase land, Pokémon-inspired monsters known as Axies, and other in-game stuff.

Users may assemble an army of Axies and engage in turn-based warfare with other players. Axies may also be bred, allowing players to create potentially stronger teams or even sell them. If your side wins, you'll receive $SLP coins, which you may swap for fiat money on a cryptocurrency exchange.


5. Silks

This game takes players to a metaverse where they may immerse themselves in the high-stakes world of thoroughbred racing, akin to The Kentucky Derby.

Horses, land, stables, and avatars are all available for purchase, trade, and interaction. Once a player has created an avatar, they may purchase a horse that is based on a real-life racehorse.

The owner of the metaverse horse receives $STT tokens every time the horse wins a race or produces real-world progeny. A Silks Governance token, $SLK, is also available. Holders can join the Silks DAO and vote on important issues.


6. Alien Worlds

Alien Worlds is the ideal P2E game for everyone who likes NFTs, outer space, and dystopia.

Players travel in space, mining numerous planets for resources (NFTs), collecting Trilium (TLM), and completing tasks. In the game, there are over 2,000 digital land plots, and each player has their plot in the form of an NFT.

TLM grants players access to the DAO that governs the game's six planets. To receive greater rewards, it may also be switched to Binance Smart Chain (BSC).



How To Get Started with Crypto Games

The first thing you need to play a crypto game is to create a cryptocurrency wallet. This is where you will store your earnings from play-to-earn games. There are a variety of wallets available, so make sure to do your research to find the best one for you.

Once you have a wallet, then you fund it depending on the game you are interested in. While some crypto games are free, others aren't. You can start looking for play-to-earn games to play to see which suits your budget or interest. 



A Few Warnings About Playing Crypto Games

1. Could be addictive

Just like normal video games, crypto games can be highly addictive. So you must make sure to set limits for yourself and don’t lose yourself in the hustle.


2. Targeted by hackers

Play-to-earn games are still a new and emerging industry which means that there are a lot of risks involved.

One of such risks is its attractiveness to hackers. This is because Play-to-earn games often hold large amounts of cryptocurrency. As such, it is important to play on reputable platforms and never reveal your private keys to anyone.


3. Volatility of tokens

Because they are crypto-based, the prices of assets are extremely volatile.

This means the fluctuations in the price of cryptocurrencies affect the value of the assets and tokens used in these games. This could lead to potential losses especially when the price of cryptocurrencies plummets. 



Final Thoughts on Playing Crypto Games

As the crypto market continues to tank, the value of the game's tokens is following suit, making 2022 a tough year for P2E gamers.

However, this has done little to dampen the enthusiasm for these P2E games. While they can be a veritable source to earn income, it is important that you put strategies in place to check your game time lest you become addicted. 

Play-to-earn games can be a great way to earn some extra money, but they should never come at the expense of your wellbeing.

Overall, remember to have fun and don’t take risks that you’re not comfortable with.

Photo by RODNAE Productions

Cryptocurrencies are facing the stiffest test since 2018 in what pundits have dubbed "crypto winter".

Over the last couple of weeks, there has been a big shift in the macro environment of a lot of people going risk-off, and crypto markets have been bucketed into the larger market’s bearishness,

Bitcoin has lost 55% since reaching an all-time high of $69,000 in November 2021. Ethereum has lost half its value YTD. Recently, the collapse of Terra, the second-largest DeFi ecosystem, left behind the most significant loss of wealth in modern history.

Retail, institutional, and even corporate investors lost over $60 billion in LUNA and UST as the 7th and 10th largest tokens by market cap evaporated in a matter of days.

No doubt, cryptocurrencies are experiencing what some call a meltdown. So what does this mean for retail investors and how can they limit losses and position themselves for the next bull cycle? Below are some tips. 



7 Things Investors Can Do to Limit Losses During Crypto Winter

1. Limit your exposure.

Due to their highly volatile nature, it is only expedient that you reduce your e-posture to cryptocurrencies in your portfolio.

The current crypto meltdown has seen about $500 billion flushed out of the value of crypto assets today from the year-ago date (as at the time of writing).

As such, it only makes sense to limit your exposure to the crypto space (even in a bull market). Because of its highly volatile nature, we recommend having only 1% of your portfolio invested in cryptocurrencies. 


2. Evaluate the situation.

Crypto investments, like any other type of investment, need extensive study.

So, if you hear about crypto market collapses in the news, spend some time investigating why that is and what it signifies.

Concerns about the current meltdown, for example, arise from an impending jump in market interest rates as well as the US government's intentions to tighten crypto rules this year.

To completely analyze how a collision might effect you, you must first understand the whole context of the incident and its repercussions.


3. Prepare for the next bull run.

While about $500 billion has been flushed out of the crypto market, there are VCs which are getting ready to deploy capital into cryptocurrencies. Andreessen Horowitz just launched another crypto fund—the biggest so far—pushing the firm’s total investment in the space to more than $7.6B.

The new $4.5B fund will target both seed investments ($1.5B) and venture investments ($3B) in startups of all stages, including DAOs, decentralized social media, DeFi, NFT communities, and creator monetization.

JP Morgan is also increasing its investment in the crypto space. The Wall Street bank is the first bank to publicly embrace the metaverse. The bank is also investing in blockchain analysis firm TRM Labs, indicating its intent to expand its portfolio in the cryptocurrency industry in 2022.

The fact that major financial institutions are still interested in the space and deploying capital only means that cryptocurrencies are currently going through a rough patch at the moment. This provides ample opportunity to prepare for the next bull cycle. 


4. Consider buying.

A crypto meltdown might turn out to be a gift in disguise.

Whereas some envision a dark and bleak crypto winter, others see a fresh window of opportunity to buy their favorite assets at a bargain and profit. Those who bought Bitcoin in 2018 when it crashed by 65% reaped astronomic gains during the 2020/2021 bull market.

As such, though the crypto space is experiencing a rout, this may be an opportunity to lock in some long-term gains for your portfolio. 


5. Don't sell at these current levels. 

If you have held till this level ($28k), it would be financial suicide if you sell at this point.

Just because an asset is now depreciating in value does not indicate it will continue to do so. As a result, don't sell just because the price is falling. Furthermore, selling during a crypto meltdown would force you to effectively undersell your asset.

If you did your homework before buying the item in the first place, you should be able to hold your ground in these choppy waters. 


6. Trade based on technical levels - not sentiment.

Crypto trading is mostly driven by technicals. Most people who are invested in crypto are in it for the gains, not its use case. As such, much attention is paid to technicals over fundamentals.

An example of this is the meteoric rise of Dogecoin which was a cryptocurrency that started as a joke. However because cryptocurrencies are highly volatile, the price action of the digital asset affects the sentiment of traders. 

In 2020, the prevailing sentiment was bullish, with most people believing that cryptocurrencies were going "to the moon". That sentiment has reversed this year with many believing that the current meltdown has marked the end of cryptocurrencies. 

The cycles in cryptocurrencies imply that using sentiments as an indicator to time your trades would lead to losses. You would spend much time chasing trends, buying at the top or selling at the bottom. 

Traders that have brushed up on their technical analysis skills can stand to benefit from market fluctuations by using that knowledge to predict these short-term movements and capitalize on them by buying the short-term lows and selling the highs.

By focusing on key technical levels, you can better manage your risks and exposure. You would also have more realistic expectations of your profit margins. Plus you can trade cryptos both ways (long or short) rather than buying to hold.


7. Explore other crypto investment vehicles.

Most crypto enthusiasts are fixated on buying and holding, or trading short-term market movements. But there are other viable ways you can make money from cryptocurrencies in bear markets.

Activities like staking and DeFi yield farming can further help level out returns and provide support to make sure your actual crypto balance is always growing, even in a market downturn. 



Key Takeaway on Crypto Winter

Bitcoin has a history of 'coming back from the dead'.

Retaining your assets may be a better option than underselling. Because emotions of fear and greed tend to trump logic, many people have forgotten the lessons of 2018.

Rather than pander to the news of gloom and doom being projected by the media, this may be a good time to dig in and stand your ground. This would work only if you have a three to five-year timeframe for your crypto assets. 

Photo by RODNAE Productions