<figure class="image"><img src="/uploads/Web3_gaming_and_the_concept_of_white_labelling_f0e81cf8b4.jpg"></figure>Since its inception, the Internet has evolved remarkably, from making information available where users own and exchange digital goods.&nbsp;During this transition, web3 gaming has opened up new possibilities for game developers and gamers who are adopting Web3 and creating new blockchain-based games for their portfolios using non-fungible tokens (NFTs).&nbsp;More web3 games are appearing on the market, but are game developers utilising their full potential concerning game revenues?<h2>How web3 gaming evolved</h2>Web3 is built on blockchain technology, with NFTs and cryptocurrencies. It is designed to give governance and control back to users by facilitating direct ownership in the shape of digital assets such as NFTs.Web3 gaming introduced the possibility of breaking free from centralised gaming platforms and finally owning one's resources directly - offering considerable opportunities to various sectors and paving the way for newer technologies to flourish.The fundamental elements underlying web3 are decentralisation, ownership, resistance to censorship and native payments.With ownership and control thus decentralised, game players can own their own identities within games and profit from their in-play gaming and the items they accrue.<h2>The Web3 gaming industry</h2>The gaming world has undergone massive development over the last decade, not least the staggering growth in user numbers and the turnover of gaming companies.Globally, gaming is worth more than <a href="https://www.gamesindustry.biz/global-gaming-market-to-hit-usd222-billion-this-year-data-ai">$222 billion this year </a>and grows by more than 10% annually.Game creation is highly active at the moment. For example, in 2022, an average of 25 new games have been published on <a href="https://store.steampowered.com/">Steam</a> daily.Research from 1,500 gamers found that <a href="https://venturebeat.com/games/interpret-studys-says-56-of-gamers-are-interested-in-earning-nfts-in-games/">56% were interested in earning NFTs through gaming</a>, demonstrating that traditional gamers have a substantial appetite for web3 gaming.Other research forecasts that the <a href="https://www.absolutereports.com/global-play-to-earn-nft-games-market-20851980">P2E market will reach $2845.1 million by 2028</a>.&nbsp;Web3 gaming is only going to grow.<h2>Web3 gaming: Play-and-Earn games</h2>NFT games, also known as play-and-earn (PAE) games or GameFi, exist within the web3 gaming ecosystem.&nbsp;Web3-based games reward players with tokens or NFTs for their time spent playing, either once they have finished the game or levelled up, or they will sell their characters and earn profits.Token rewards are typically the primary focus. In addition, players can purchase NFTs from others and hold them until their value increases before reselling them.One of the primary incentives for players to actively participate in these games is the possibility of earning money. Undoubtedly why P2E games have exploded in popularity in recent years.<h2>Game studios and white label web3 gaming</h2><figure class="image"><img src="/uploads/NFT_leasing_is_live_2e57de0ff1.jpeg"></figure>Game studios are global companies like Microsoft, Nintendo, Tencent, Sony, Electronic Arts, Epic Games, Ubisoft and Take-Two Interactive.The game studios do not necessarily create every game themselves, as these are done by smaller, independent and boutique companies. In the USA alone, there are more than 2,500 game studios.&nbsp;Game developers thus finance gaming NFT startups to market new web3-based games or integrate web3 features into existing games.&nbsp;For instance, game company WOF Labs has been experimenting with NFTs and blockchain technology for years, offering the concept of NFT renting to a community that wants it and actually implements it themselves if the game developer does not provide it.&nbsp;Game developers utilise companies like this because otherwise, they will miss out on the renting marketplace revenue, potentially opening up the community to the risks of either side not fulfilling their promises.In addition, WOF Labs can even take on the NFT renting methods:<ul><li>Let the community handle it themselves.</li><li>Use third-party marketplace (and share revenues with them)</li><li>Implement your own in-game NFT rental (and keep the revenues and provide security)</li></ul>Moreover, they can show how big the market is with all the guilds and scholarships within other games.<h2>Web3 gaming trends</h2>Blockchain games already make up the lion's share of blockchain activity. Nevertheless, DappRadar found that blockchain games increased their share by <a href="https://dappradar.com/blog/dappradar-x-bga-games-report-q2-2022">3% in the second quarter of 2022</a>.&nbsp;In the same period, gaming activity accounted for <a href="https://cryptoslate.com/gaming-going-strong-amidst-crypto-winter-with-1-1-million-uaws/">52% of all unique active wallets (UAWs)</a>, with almost 1.1 million UAWs.Additionally, <a href="https://dappradar.com/blog/dappradar-x-bga-games-report-q2-2022">DappRadar documented</a> 398 active blockchain games (an increase of 92% in one year). These are defined as having at least one functional wallet in the last 24 hours of the game. The total number of blockchain games, including inactive ones, has risen 71% over the past year to 1,179.<h2>Building new web3 games</h2>Web3 games are now more sophisticated regarding their narrative, graphics and opportunities. Increasingly game developers are using the integration of game mechanics from smaller, boutique gaming studios to make games an area where gaming stakeholders can accumulate profit.&nbsp;Much like how our thriving World of Freight game is now set up to offer white-label in-game rentals for game developers, and we are developing more.<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/world-of-freight-nft">Why get a World of Freight NFT?</a></li>
<li><a href="https://supplain.io/news/best-nft-games">Here are the best NFT games</a></li>
<li><a href="https://supplain.io/news/what-is-gamefi-p2e-explained"> What is GameFi? 'Play-to-Earn' explained...</a></li>
<li><a href="https://supplain.io/news/nft-renting">NFT renting. What is it, and why is it the next big thing in NFTs?</a></li>
</ul>
</div></div>

During this transition, web3 gaming has opened up new possibilities for game developers and gamers who are adopting Web3, none more so than web3 white labelling.

Web3 gaming and the concept of white labelling

large_Web3 gaming and the concept of white labelling

medium_Web3 gaming and the concept of white labelling

small_Web3 gaming and the concept of white labelling

thumbnail_Web3 gaming and the concept of white labelling

David Bailey

Sander Gansen

<figure class="image"><img src="/uploads/NFT_renting_What_is_it_and_why_is_it_the_next_big_thing_in_NF_Ts_936c635d16.png"></figure>As the NFT space widens, it will find more token offerings. As unique and diverse as these offerings are, the hefty prices still put off those seeking to enter this new digital realm.&nbsp;Buying and collecting NFTs is undoubtedly not cheap.&nbsp;Even the lowest-priced NFTs from popular projects, like <a href="https://larvalabs.com/cryptopunks">Cryptopunks</a> and <a href="https://boredapeyachtclub.com/">Bored Apes</a>, are not affordable for those seeking to benefit from holding such premium NFTs.&nbsp;This is why NFT renting is now the next big 'thing' to holding premium NFTs themselves. It is what it says, renting out NFTs and providing others with the experience of owning a said NFT (and enjoying the utility that comes with it) for a limited period.&nbsp;Curious how NFT renting would work? Let us find out.&nbsp;<h2>What is NFT renting?</h2>NFT renting is where individuals who do not hold or own a particular NFT but would either like to utilise its utility or experience it for a limited time 'borrow' the NFT from a relevant platform that supports NFT rentals.A person who owns a specific NFT can rent it out to a borrower who needs it for a short period. NFT rental marketplaces use Defi-like <a href="https://supplain.io/news/blockchain-applications-use-cases">blockchain technologies</a> to facilitate secure transactions and guarantee that the NFT is returned to the owner once the rental period expires.&nbsp;<h2>Why rent an NFT?</h2>For borrowers, NFT renting is a more affordable way to tap into the benefits of some premium NFT utilities, such as access to exclusive members-only content, events, and tickets provided by the NFT without having to pay money to buy them.&nbsp;For the borrower, it is the same as renting a video game or a DVD from an online catalogue—they view the content and then return it. No long-term commitment is required.Those renting out their NFTs can obtain a source of income if they are not accessing the utility behind the NFT or if it remains idle, lying in their <a href="https://supplain.io/news/nft-wallet-types">NFT wallets</a>.&nbsp;Many NFTs are unused by their owners for most days or weeks. Whilst these owners are not using their assets, they also have little interest in selling them should they wish to take advantage of their utility. Thus, any utility that the NFT generates is wasted – sitting unused in the wallet.Thus, NFT renting has opened up a secondary economy in the NFT industry.<figure class="image"><img src="/uploads/Gary_Vaynerchuk_s_members_only_private_restaurant_Flyfish_Club_13a1780646.png"><figcaption>Source: Gary Vaynerchuk, Instagram</figcaption></figure>For example, to eat at <a href="https://www.linkedin.com/in/garyvaynerchuk/">Gary Vaynerchuk's</a> members-only private restaurant <a href="https://www.flyfishclub.com/">Flyfish Club</a>, diners must hold or purchase a Flyfish Club NFT that serves well as membership. Should the Flyfish Club NFT holder not actively use it, they can rent to borrowers and make a profit on the side.&nbsp;With the <a href="https://supplain.io/news/blockchain-applications-use-cases">gaming, art and music industries</a> entering the NFT space, NFT rental will become more mainstream, and the demand for NFT rentals will skyrocket.&nbsp;<h2>How does NFT renting work?</h2>There are two ways NFTs are rented out—collateralised renting and collateral-less renting.<h3>Collateralised lending</h3>NFT holders can list their NFT assets on an NFT marketplace that permits NFT lending and borrowing. Interested borrowers searching for a specific NFT can ask to borrow it subject to contract terms defined between the lender and the borrower. The NFT in question is then deposited into a smart contract for a period agreed upon between both parties.&nbsp;To protect the lender and their NFT, the borrower must deposit collateral – likely more than the NFTs value. The value of each NFT is presumably verified using the current pricing listed online. Furthermore, the renter will pay a rental fee to cover the cost of borrowing the digital asset.These terms are formalised in a smart contract that includes rental duration, the amount of collateral required and other terms and conditions mutually agreed upon.&nbsp;The contract goes into effect upon agreement between the lender and renter on all smart contract parameters. NFT renting has begun - the NFT temporarily passes to the borrower, who can then reap the benefits of holding that NFT for the contract's duration.&nbsp;When the contract expires, the smart contract initiates the return of the NFT to the renter, and the collateral is returned to the borrower.&nbsp;<h3>Collateral-less renting</h3>NFT rentals can also conclude in another, more simplified manner. This method is where the NFT never enters the borrower's hands for the lender. Simultaneously, individuals who borrow are not required to deposit any collateral, thus minimising the impact on their financial assets.Collateral-less renting occurs in much the same way as collateralised lending.&nbsp;NFT holders list their assets on an NFT marketplace, and individuals initiate the NFT borrowing process. The NFT asset is then deposited into a smart contract, with the contract terms defined between the lender and the borrower.However, there is a slight difference.A <a href="https://www.one37pm.com/nft/what-are-wrapped-tokens">wrapped token of the original NFT is minted</a> in a collateral-less renting arrangement. A wrapped token is an asset like cryptocurrency or an NFT that is wrapped using code to be utilised on a non-native blockchain and backed by the original NFT.&nbsp;The lender and borrower mutually agree upon a rental fee and duration, and the smart contract goes into effect – issuing the wrapped NFT to the renter.&nbsp;Once the smart contract expires, the wrapped NFT is returned to the contract and is 'burned' so it cannot be used again.&nbsp;<h2>NFT rentals and their impact on GameFi</h2>As with newer technology, the gaming industry, particularly the GameFi sector, is one of the first adopters of renting NFTs. Previously, game ecosystems were closed, with players spending hours playing and earning in-game assets, not being able to monetise them within or off of the platform.&nbsp;This has now changed with NFTs and the advent of NFT renting.With NFTs, for the first time, they can move their earned in-game assets to a marketplace and sell them for actual earnings, i.e. fiat currency. Better still, players who wish to earn on their existing purchases can place the same NFTs on a marketplace supporting NFT borrowing and earn money whilst they sleep.From avatars to <a href="https://worldoffreight.xyz/fleet">in-game vehicles</a>, there is nothing that a borrower cannot rent, provided the entity is represented as an NFT.Within the <a href="https://supplain.io/news/what-is-the-metaverse">Metaverse</a> itself, the next land grab is occurring in the digital world. As early adopters buy land within the gaming and metaverse-focused platforms, an <a href="https://worldoffreight.xyz/nft-worlds">NFT land rental industry</a> has emerged.NFT land rentals allow future community members to set up the necessary infrastructure to enjoy their time spent online. Whether a store, garage or house needs to be built on virtual land, NFT land renting will soon create digital landlords and NFT land renters.It is why NFT renting will become the future.<h2>The future of NFT renting</h2>NFTs are not going anywhere and are certainly not a fad.&nbsp;NFTs will impact all industries in the coming years, making the NFT rental industry more mainstream. NFT renting will empower more those wishing to partake in the web3 economy regardless of whether they own any asset or do not have the financial means to buy them.Both lenders and borrowers will profit from the web3 economy because NFT lenders can earn on their otherwise dormant assets; NFT borrowers can leverage certain assets for a limited time to achieve a specific objective at a point in time. Ultimately this is the way NFTs were intended to be used and why they were built - to provide a utility that benefits those who hold or rent them.&nbsp;<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/world-of-freight-nft">Why get a World of Freight NFT?</a></li>
<li><a href="https://supplain.io/news/best-nft-games">Here are the best NFT games</a></li>
<li><a href="https://supplain.io/news/what-is-gamefi-p2e-explained"> What is GameFi? 'Play-to-Earn' explained...</a></li>
<li><a href="https://supplain.io/news/web3-gaming-white-labelling"> Web3 gaming and the concept of white labelling</a></li>
</ul>
</div></div>

NFT renting is taking off at an exorbitant rate. But what are NFT rentals, and why is renting an NFT the next big thing?

NFT renting. What is it, and why is it the next big thing in NFTs?

medium_NFT renting. What is it, and why is it the next big thing in NFTs?

small_NFT renting. What is it, and why is it the next big thing in NFTs?

thumbnail_NFT renting. What is it, and why is it the next big thing in NFTs?

<figure class="image"><img src="/uploads/What_is_Game_Fi_Play_to_Earn_explained_52a13d3caa.png"></figure>Players want a more prominent role in their video games and to be rewarded for their time spent online. Not only be rewarded but also, once they have finished the game or levelled up, then they will have a secure way to sell their characters, taking a little loss or even earning profits.This approach has led to the creation of a new industry within Web3 called GameFi — a combination of gaming and finance. GameFi refers to the financialisation of video games characterised by its 'play-to-earn' (P2E) business model, which refers to blockchain-based games that offer tokenised incentives to in-game players.Some of the P2E is only about constant earning. Most of it is excellent gameplay and the possibility to get some of your money back after spending thousands of dollars in-game.<h2>What is GameFi?</h2>GameFi is a term to describe play-to-earn blockchain games that offer paid incentives to players. The GameFi ecosystem is built using <a href="https://supplain.io/news/what-are-nft-investments">NFTs</a>, collectable avatars, digital assets, in-game currencies, and cryptocurrencies, all using blockchain technology to create a virtual gaming space.&nbsp;Usually, players earn in-game rewards by completing tasks, progressing through other game levels, and battling other players. They can also transfer their assets (NFTs) outside the game to trade or exchange on crypto and NFT marketplaces.<h2>How does GameFi usually work?</h2>GameFi rewards vary. They could be in the form of in-game assets like <a href="https://worldoffreight.xyz/nft-worlds">virtual land</a>, avatars, in-game items, new NFTs or cryptocurrencies.&nbsp;Each GameFi project adopts a different model and game mechanics. Typically, the in-game assets will provide specific advantages to players, allowing them to generate more rewards. Nevertheless, several games also include avatars and cosmetics that are entirely aesthetical and have no impact on the gameplay and subsequent earnings.Whilst the gameplay mechanics of GameFi projects differ, there are some similarities:<h3>P2E business model&nbsp;</h3>Unlike traditional gaming, where players are motivated to win, GameFi projects adopt a play-to-earn model to incentivise them to play and progress in return for measurable rewards. These are in the form of in-game cryptocurrencies or NFTs.<h3>Asset ownership&nbsp;</h3>Previously, game developers locked in-game purchases within a single game. Players were unable to use them outside of the game. With a P2E business model, players own their in-game purchased and tokenised assets, being able to exchange them for cryptocurrencies and fiat currency. Assets can range from <a href="https://worldoffreight.xyz/fleet">vehicles</a> to plots of <a href="https://worldoffreight.xyz/nft-worlds">virtual land</a> tokenised on the blockchain.<h3>Use of blockchain technology</h3>GameFi projects run on <a href="https://supplain.io/news/blockchain-applications-use-cases">blockchain technology</a>, a digital ledger, so to speak. Blockchain technology tracks player ownership whilst ensuring that all transactions are transparent. The use of blockchain or tokenising in-game assets gives the users:&nbsp;<ul><li>Proof of Ownership</li><li>Improved Liquidity</li><li>Enriched Utility</li><li>Portability</li></ul><h3>DeFi solutions</h3>Numerous GameFi projects include decentralised finance (DeFi) elements, including <a href="https://www.businessinsider.com/personal-finance/yield-farming#:~:text=Yield%20farming%20involves%20lending%20or,farming%20is%20also%20incredibly%20risky.">yield farming</a>, <a href="https://academy.shrimpy.io/lesson/what-is-liquidity-mining#:~:text=Liquidity%20mining%20is%20a%20process,accrued%20from%20traders%20swapping%20tokens.">liquidity mining</a> and staking that provide additional ways for players to increase the number of token assets held.&nbsp;More of the above is described in detail below.<h2>More about the play-to-earn business model (P2E)</h2><figure class="image"><img src="/uploads/More_about_the_play_to_earn_business_model_P2_E_726106cd3c.png"></figure>As mentioned above, most GameFi projects utilise the play-to-earn business model (P2E). P2E is somewhat different from the pay-to-play model adopted by traditional video games in that it requires gamers to invest before they can begin playing.&nbsp;For instance, video games like Call of Duty need players to purchase licenses or recurring subscriptions.In most cases, traditional video games will not generate any financial returns for players, and their in-game assets are controlled and held by the gaming company. In contrast, P2E games can give players complete control over their in-game assets while offering opportunities to make money.However, remember that it all depends on the model and game design adopted by the GameFi projects. Blockchain technology can (and should) give players complete control over their in-game assets, but that is only sometimes the case. Players must understand the game's functions and who is behind the project before getting into a P2E game.Also, consider that P2E games can be free-to-play and still offer financial incentives for players. However, some GameFi projects require players to purchase NFTs or crypto assets before playing; as such, <a href="https://supplain.io/news/nft-terms-nft-vocabulary">doing your own research (DYOR)</a> and evaluating the risks is crucial. If a P2E game requires a significant investment to start and the rewards are small, you will likely lose the initial investment.One popular play-to-earn game is <a href="https://worldoffreight.xyz/racing-arena/upcoming">World of Freight</a>. It is an Ethereum and Polygon-based NFT game that has grown in popularity since 2021. Gamers can use their NFT vehicles (WOFs) to earn WOF tokens by completing daily races and upgrading their vehicles.&nbsp;They can also use <a href="https://worldoffreight.xyz/freight-punks">Freight Punks</a>, collectable avatars that function as drivers for the NFT vehicles. Attaching these driver NFTs to the vehicles enables players to earn XP and skill points that players can use to learn new skills and become better racers.These Freight Punks and vehicle NFTs can be used in-game or traded on an official NFT marketplace.Apart from buying and selling vehicles, players can lease their vehicles through the in-game NFT renting marketplace to other players, allowing owners to earn without playing the game. This lending model is known as scholarship.&nbsp;In other words, WOF owners can make a passive income whilst others can play the game without investing. The earned rewards are then split between scholars and WOF owners, or sometimes, there are pre-payments to get the vehicle.<h2>The involvement of DeFi apps</h2>Some GameFi projects offer DeFi products and elements, including staking, liquidity mining, and yield farming. Typically, players can stake their in-game tokens to earn rewards, unlock rare items, or access newer gaming levels.Introducing DeFi elements can also make crypto gaming more decentralised. Unlike traditional game studios that exercise centralised control over game patches and updates, GameFi projects permit the player community to participate in their decision-making process. They propose and vote for future updates via <a href="https://supplain.io/news/guide-blockchain-daos-metaverse-crypto-tokenisation">decentralised autonomous organisations (DAOs)</a>.For instance, <a href="https://decentraland.org/">Decentraland</a> players can vote on in-game and organisational policies by locking their governance tokens in the DAO. The more tokens players lock, the more voting rights they wield, thus leading to a more significant influence in developing the game with the game's developers.<h2>So, are video games now considered GameFi?&nbsp;</h2>Traditional video game players can also earn in-game currency and collect digital assets to upgrade their characters. Still, these tokens and items cannot (or are not supposed to) be traded outside of the game. In most cases, they do not even carry any value beyond the game's scope. Even when they do, players are often prohibited from monetising or trading their assets in the real world.In blockchain games, the in-game tokens and assets are usually cryptocurrencies and NFTs. Some blockchain games use virtual tokens rather than crypto or NFTs, but players should still be able to convert their in-game assets into NFTs if they wish.&nbsp;Gamers can transfer their earnings to crypto wallets and trade their assets on crypto exchanges or NFT marketplaces. They can then convert their crypto profits into fiat money too.<h2>How to get started with GameFi</h2><figure class="image"><img src="/uploads/How_to_Get_Started_With_Game_Fi_minting_244814a7c1.png"></figure><h3>1. Create a crypto wallet</h3>Players will need a <a href="https://supplain.io/news/nft-wallet-types">crypto wallet</a> to conduct in-game transactions and store their virtual currencies, and NFTs collected during gameplay. There are numerous wallets available, but most P2E games require specific wallets.<h3>2. Connect your wallet with the game</h3>Unlike traditional pay-to-play games that require login details, GameFi projects use a player's crypto wallet as their account. Players should only use wallets downloaded from the official app stores linked to the wallet's official website to avoid <a href="https://supplain.io/news/nft-scams-victims">scams</a>. Further, as an additional security precaution, players should use a different wallet for each game played.<h3>3. Add funds to your wallet</h3>Players will then need to fund their crypto wallets with a compatible cryptocurrency (like Polygon or Ethereum) to purchase required game items to become part of the game (vehicles, weapons, armour, avatars).&nbsp;<h3>4. Mint an NFT</h3><a href="https://worldoffreight.xyz/how-to-mint">Minting an NFT</a> means you buy a unique NFT directly from the project, thus generating an individual image file with the features of the smart contract you can play within the game.<h2>The future of GameFi</h2>With an estimated <a href="https://www.statista.com/statistics/293304/number-video-gamers/">3.24 billion gamers across the globe</a>, there is a massive opportunity for growth in the GameFi sector. In 2021 alone, investors poured over <a href="https://www.drakestar.com/news/global-gaming-report-2021">US$3.6 billion</a> into crypto gaming NFT startups, making 2021 a landmark year for the burgeoning industry.&nbsp;For those who work in the Web3 industry, gaming represents the most likely path to widespread blockchain adoption. This opinion is supported by a <a href="https://dappradar.com/blog/dappradar-x-bga-games-report-q1-2022">DappRadar x BGA Games report</a>, which found that blockchain games attracted 1.22 million unique active wallets (UAW) in March 2022.&nbsp;With that said, the gaming community is resistant to blockchain-based games, particularly in-game mechanics and NFTs. Thus, UX and the games must be intuitive to attract and retain new audiences.Read our list of the <a href="https://supplain.io/news/best-nft-games">top P2E games here.</a><div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/world-of-freight-nft">Why get a World of Freight NFT?</a></li>
<li><a href="https://supplain.io/news/best-nft-games">Here are the best NFT games</a></li>
<li><a href="https://supplain.io/news/web3-gaming-white-labelling"> Web3 gaming and the concept of white labelling</a></li>
<li><a href="https://supplain.io/news/nft-renting">NFT renting. What is it, and why is it the next big thing in NFTs?</a></li>
</ul>
</div></div>

GameFi has exploded in the past couple of years. But what is it, and why has the play-to-earn business model taken off? We explain all!

What is GameFi? 'Play-to-Earn' explained...

medium_What is GameFi? 'Play-to-Earn' explained...

small_What is GameFi? 'Play-to-Earn' explained...

thumbnail_What is GameFi? 'Play-to-Earn' explained...

<figure class="image"><img src="/uploads/What_is_so_special_about_a_World_of_Freight_NFT_and_what_will_move_the_project_forward_b89946b520.png"></figure>The best NFT games are in a variety of genres. They include an eclectic mix of styles and genres, including monster-breeding sims, card battle games, freight simulation and epic role-playing adventures.&nbsp;These aren't all play-to-earn, but they enable players to own portions of the games through <a href="https://supplain.io/news/blockchain-applications-use-cases">blockchain technology</a> and the complexities of cryptocurrencies.NFT games differ from typical gaming experiences, as items bought or earned can be sold or traded within and across games for fiat money. The NFTs themselves are used as part-ownership within a game.&nbsp;Most NFT games feature an internal marketplace to buy and sell items on a blockchain, meaning holders can trade them on the <a href="https://www.creativebloq.com/features/nft-marketplaces">best NFT marketplaces</a> outside the game.<h2>What are NFT games?</h2>NFT games have developed from their beginnings and now offer play-to-earn (P2E) models. As it's become known, Game-Fi mixes the worlds of finance and gaming, providing players with opportunities to earn income as they play.&nbsp;Players no longer need to only rely on winning, searching or breeding a scarce collectable worth thousands of euros or dollars. Players can now decide to try multiple gaming models in various themes aside from owning collectables.<h2>How do NFT games work?</h2>NFT games are different from merely holding crypto-collectables in an <a href="https://supplain.io/news/nft-wallet-types">NFT wallet</a>. An NFT game will use <a href="https://supplain.io/news/what-are-nft-investments">NFTs</a> in its governance, mechanisms, rules and player interactions. For instance, a game could represent an avatar or unique object. These digital items can be swapped or traded with other players for profit. A newer, play-to-earn model allows NFT holders to generate income from NFT games.To create, swap and implement NFTs within a game, <a href="https://supplain.io/news/blockchain-developer">blockchain developers</a> create smart contracts that determine the rules for how the NFTs are used. Smart contracts themselves are self-executing pieces of code stored securely on a blockchain.<h2>What are play-to-earn NFT games?</h2>P2E NFT games allow users to generate income through playing. Usually, players are rewarded with game tokens and NFTs, earning more the longer they play.&nbsp;The token method is typically the more stable of the two, as players can earn tokens steadily as players play the game, whilst NFT drops are more chance-based.&nbsp;P2E has been incredibly popular with players in low-income countries as an additional way to earn extra income.&nbsp;For example, <a href="https://axieinfinity.com/">Axie Infinity</a> is highly popular in the Philippines, where players have begun to live off its P2E model. Many players make between $100 to $1,000 per month (or even more), depending on the market price and time invested.<h2>What are in-game NFTs?</h2>In-game NFTs offer additional ways to generate more income by playing NFT games.Rather than earning a fungible <a href="https://academy.binance.com/en/articles/an-introduction-to-erc-20-tokens">ERC-20 token</a> like SLP in Axie Infinity, players earn NFTs representing collectable items. This type of gameplay is the traditional way of boosting income with NFT games. Items will vary based on their cosmetics, rarity, or <a href="https://supplain.io/news/top-nfts-with-utility">utility</a> found within the game.<a href="https://www.cryptokitties.co/">CryptoKitties</a> is one instance of an NFT game that relies solely on in-game NFT collectibility. Earning a steady income is more reliant on the element of chance. Most newer NFT games offer a combination of both in-game and P2E NFTs.&nbsp;<h2>How do NFT games make money?</h2><figure class="image"><img src="/uploads/Can_NFT_gaming_make_money_c6289a7269.jpg"></figure>The number of money players earn playing an NFT game depends on the individual game's mechanics and market demand. The money players make derives from other users who value the NFTs or cryptocurrencies earned within the game.&nbsp;With NFT games, value is derived from the NFT, token's collectability, or <a href="https://supplain.io/news/top-nfts-with-utility">in-game utility</a>. These two factors also lead to speculation.<h2>Can I lose money playing NFT games?</h2>Maybe say that foremost, people should play games for the fun and experience, and if looked through this lens, then you can never lose money, rather invest it for experiences.However, it's possible to lose money playing NFT games if you look at them speculatively. (In other words, playing them only to earn tokens you hope to go up in value OR buy assets to later sell or rent them to others). The precise amounts depend on the game type you're playing, its mechanics, and the value of the NFTs being handled.&nbsp;Losing money doesn't necessarily mean you're being scammed. As NFTs are speculative and their value depends on what people place on them, losses depend on market forces. Like any crypto investment, only spend what you can realistically afford to lose.<h2>Can I lose my NFTs?</h2>With the value some NFTs are worth, it's a common fear to lose them whilst playing a game or interacting with the blockchain. Whether you've purchased your NFTs or earned them in-game, you must ensure you keep them secure. In short, it's possible to lose your NFTs if you aren't careful. However, your chances of losing them are minimal if you follow the best practices we'll outline later.There are a few ways you could lose your NFT:<ol><li>You attempt to transfer it from one wallet to another that doesn't support the NFT's token standard.</li><li>You are sadly the victim of a <a href="https://supplain.io/news/nft-fraud-web-3">fraud</a> or <a href="https://supplain.io/news/nft-scams-victims">scam</a> and sent your NFT to a scammer.</li><li>You give malicious smart contract permission to access your wallet, and it steals your NFT.</li><li>You lose it as part of the game's rules.</li></ol>These might be of interest:<ul><li><a href="https://supplain.io/news/nft-scams-victims">NFT scams - how not to be a victim</a></li><li><a href="https://supplain.io/news/nft-use-cases-digital-art">Are NFTs only about digital art? Actually, no.</a></li><li><a href="https://supplain.io/news/top-nfts-with-utility">Here are the top NFTs with Utility [Updated List]</a></li></ul><h2>Best NFT games from our community</h2>NFT games allow players to take ownership of their in-game assets. They combine traditional gaming designs with blockchain technology, making it possible to earn real money whilst playing.Our research found that the best NFT games available in the market today are those listed below:<a href="https://worldoffreight.xyz/">World of Freight (WOF)</a> - Racing game with ground, water, air &amp; space-type vehicles. All NFTs passively generate $WOF tokens that are usable for customising &amp; upgrading the vehicles. The community is also building a real-world supply chain blockchain, Supplain.<a href="https://tryhards.io/">TryHards</a> - Tryhards is a competitive, immersive, and fun game. Their mission is to keep players engaged in a fair and balanced way. They believe new players must be able to join and compete with veteran players. But at the same time, enjoying excellent benefits for obtaining higher-tier characters and weapons.<a href="https://www.fear.io/">Fear</a> - Fear is a project founded by twin brothers who have operated a game media company for 20 years in the industry, acting as a game publisher, advertiser and developer.&nbsp;<a href="https://frogland.io/">Frogland</a> - The Notorious Frogs of Frogland are a hand-drawn series of 10,000 generative NFTs. Each frog is entitled to a LillyPAD, or Personal Access Domain, with Frogland, the central most founding district of the metaverse.<a href="https://metalordz.com/">MetaLordz</a> - Fight to the death in intense, real-time, ranked PvP tournaments or learn the ropes in practice mode. Master skills, strategies and consumables to dominate in an expansive world to explore, full of quests &amp; mysteries, personalities &amp; perils.<a href="https://deltaflare.gg/">Delta Flare</a> - DeltaFlare is incorporating concepts from some of your favourite games and bringing them to you in a fun, safe, and profitable delivery. Improved token drop rate techniques, collaborative gameplay, tiered earning rates, and in-game purchases come together in a hack-n-slash storyline.<a href="https://linktr.ee/TheGoatSociety">GOAT Society</a> - The GOAT Society is a collection of 10,000 Unique NFTS meant to unite the different communities and fans of the real-life GOATS (Greatest Of All Times). The collection includes 9,000 generative goats and 1,000 unique hand-drawn GOATS, each stored as an ERC-721 token on the Ethereum blockchain.&nbsp;<a href="https://metacomedyclub.io/">Meta Comedy Club</a> - The Meta Comedy Club is on its way to becoming the entertainment Mecca of the Metaverse. The Meta Comedy Club have finished construction on the world. They will drop sneak peeks of the club and all its facilities shortly!&nbsp;<a href="https://flipcity.io/">Flipcity NFT</a> - Modeled after old floppy disk games of yesteryear and browser games of the early 2000s, players will accumulate and allocate resources to scale their position within the city, all whilst attacking other players and defending their empires. Look no further if you've ever wanted to lead your penguin [mob] family to notoriety and riches.<a href="https://mempoverse.mempo.xyz/">Mempo</a> -&nbsp; tHE Mempo NFT is a key to roaming Mempo City and the games. There will be exclusive areas within the Mempoverse that you can access. Ownership is the only way to earn Mempo Coins and collect unique NFTs.<a href="https://moonie.io/">Moonie</a> - The Moonieverse is a vast and mysterious landscape filled with engaging opportunities for exploration. The Moonies are starting their journey by going to the Moon, hosting price races between your favourite cryptocurrencies to get there. The first race will be between BTC, ETH and DOGE.LIST TO BE CONTINUED….<div class="raw-html-embed"><div style="background-color: #0E1EFF; color: white; border-radius: 10px; padding: 6px 16px 12px">
<h3 style="color: white;">Resources you'll love:</h3>
<ul>
<li><a href="https://supplain.io/news/world-of-freight-nft">Why get a World of Freight NFT?</a></li>
<li><a href="https://supplain.io/news/top-nfts-with-utility">Here are the top NFTs with utility</a></li>
<li><a href="https://supplain.io/news/what-is-gamefi-p2e-explained"> What is GameFi? 'Play-to-Earn' explained...</a></li>
<li><a href="https://supplain.io/news/web3-gaming-white-labelling"> Web3 gaming and the concept of white labelling</a></li>
<li><a href="https://supplain.io/news/nft-renting">NFT renting. What is it, and why is it the next big thing in NFTs?</a></li>
</ul>
</div></div>﻿ &nbsp;

The best NFT games are in a variety of genres. But which one leads the way with gameplay, incentives and money earned? Read our updated list!

What is so special about a World of Freight NFT, and what will move the project forward?

medium_What is so special about a World of Freight NFT, and what will move the project forward?

small_What is so special about a World of Freight NFT, and what will move the project forward?

thumbnail_What is so special about a World of Freight NFT, and what will move the project forward?

Here are the best NFT games [Updated List]

Guide to the top blockchain, crypto and NFT events to attend in 2022 & 2023 that crypto enthusiasts must attend. Where are you heading?

Top blockchain, crypto and NFT events to flock to in 2022 & 2023

Our Partners

Latest News

Web3 gaming and the concept of white labelling

NFT renting. What is it, and why is it the next big thing in NFTs?

What is GameFi? 'Play-to-Earn' explained...

Here are the best NFT games [Updated List]