Speaking of NFTs, art and games are very popular, so in this article we will explain the tips and reasons why you can’t make money with them. It is said that art will continue to grow, but when it comes to games, I feel that it is becoming more and more difficult. Why exactly is that?
What is an NFT game?
NFT games are games developed based on the blockchain technology of virtual currency. Because the system allows you to earn virtual currency just by playing the game, games have become as popular as art in the NFT genre. NFT games have the following characteristics. NFTs are a hot topic, but their prices are unstable, making them easy to collect, but they are also prone to fluctuations. Be sure to visit the official website and check it out. The good features are summarized below. If you invest in something valuable, you can earn a lot even from free things. The point is that even beginners can aim to make a profit if they register.
Earn money just by playing games
NFT games are games developed based on the blockchain technology of virtual currency. Because the system allows you to earn virtual currency just by playing the game, games have become as popular as art in the NFT genre. NFT games have the following characteristics. NFTs are a hot topic, but their prices are unstable, making them easy to collect, but they are also prone to fluctuations. Be sure to visit the official website and check it out. The good features are summarized below. If you invest in something valuable, you can earn a lot even from free things. The point is that even beginners can aim to make a profit if they register.
Create your own items
NFT games have the ability to create one-of-a-kind items online. In consumer games, the characters and items available are already set in the game and cannot be created by yourself. Therefore, this is the biggest advantage of NFT games. If you have the knowledge, you can get high-value coins. Generally, early adopters check the latest information. Invest as much as possible in those who are likely to become really valuable in the future. There is a high demand for digital data.
Difficult to falsify data
By using blockchain technology in the development of NFT games, it is difficult for fraud to occur due to data tampering with the owner’s profile, etc., so artists can earn a stable income and make money. Cheating is very common in paid online games and consumer games, depending on the purpose. However, NFTs have the advantage of being able to prevent this, which is why their content is highly rated. Information is being disseminated every day through blogs, etc., so it is necessary to collect and check information.
Why NFT games don’t make money
So why are NFT games like the ones mentioned above no longer profitable? There are currently the following reasons for this, so we will introduce some information. Even though it is an NFT, there are risks, so we do not recommend anything. Currently, when starting a new project, by understanding the tricks, you will be able to operate it and recover profits. It is fine if it is a popular game, but if you can only earn tokens that are falling, you will not feel like training or battling.
high initial cost
To earn money from NFT games, you need to purchase NFTs to use in the game. And although it depends on the specifications of the game, there are many games that cannot be played without additional purchases. There are also cases where users end up in debt, and there is an aspect that is becoming unpopular.
Reward price fluctuates
Virtual currencies paid as rewards in NFT games fluctuate in price almost without exception. This is an unavoidable fate because the virtual currency itself is too liquid. Therefore, although you can get rewards, there are cases where the obtained virtual currency has plummeted and turned into garbage.
Rapid increase in game users
The number of users playing NFT games is increasing. As a result, there are many cases where the number of players who can win is limited depending on the specifications of the game, and there are many games where the more players there are, the harder it is to win. There are many opinions that this makes NFT games more difficult.
time to reward
Users who play NFT games play for virtual currency, which is a reward, but there is a drawback that it takes time to generate rewards. Games that require players to level up or improve their skills require a lot of player time, so it takes a lot of time.
Project surge
The number of projects starting NFT games is increasing rapidly. This has made things difficult for manufacturers. The profusion of projects leads to a distributed user base. As a result, the fewer entrants, the more difficult it will be to earn money, so it will be tough.
The Future and Future of NFT Games
What will the future hold for NFT games? As explained above, selling and buying and selling games is not easy. From now on, when releasing a game, it is better to first understand its future potential before developing it. Please note the following points for reference only. Some crypto asset services have high liquidity and come in and out of fashion, which poses a problem. Collect information and keep checking the latest trends.
Expansion of the NFT market?
The NFT market suddenly expanded explosively around 2020. The global NFT transaction value has tripled in one year, from $24.5 million in 2019 to $82.5 million in 2020. and $17.6 billion in 2021. It was said that if this trend continued, it would become a ridiculous market.
| 2019 | $24.5 million |
| 2020 | $82.5 million |
| 2021 | $17.69 billion |
Source : 調査結果 (caa.go.jp)
However, NFT trading volume has declined since mid-2021. It is said that the NFT bubble burst due to the rapid expansion of NFT. Therefore, depending on the market, game sales will be doubtful in the future.
New entry of huge capital
Until now, NFT game projects have been easily successful for new entrants, even if they are individuals or projects with little capital. However, from now on, huge amounts of new capital are entering the market, so the chances of making a profit are expected to be considerably lower. With major game players such as Square Enix entering the market, there is a possibility that it will be monopolized by major capital. There is no doubt that the number of new NFTs appearing will increase in the future, and the number of possessions will also increase, and depending on the conclusion and timing, the world may become fiercely competitive.
Subject to laws and regulations
You can easily get started in the virtual currency field, including NFT, with a smartphone app, even if you don’t have any skills, but the market has expanded rapidly and the legal system has not yet caught up. Therefore, depending on the future, there is a possibility that the industry will be destroyed due to the introduction of very strong regulations, so please be careful. Although it is supported by exchanges, there is no legal framework or guide, so even if you start now, depending on the category, you may end up suffering as a result of fraud.
Bybit’s NFT Marketplace
Bybit has an NFT marketplace. Once you open an account, you can actually enter and trade, so let’s give it a try. Recently, companies and influencers have started to spend large sums of money to distribute and promote their content on SNS and YouTubers. If possible, we recommend starting NFT as a side job while doing your daily job. You don’t know when the trends will hit in these areas, so it’s important to catch the trends and be able to ride them in the end.
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