Cryptocurrencies have changed the world of business and the way transactions are conducted.
Payment with cryptocurrencies is becoming more accessible, and many well-known brands, companies, banks, and corporations are opting for this type of business.
There is an increasing range of services and goods, which can be supplied to cryptocurrencies, and then entertainment entered the crypto world.
What is Cryptocurrency?
Cryptocurrencies would be easiest to describe as digital money. We would not be wrong with this definition, but we would not be precise, since cryptocurrency is much more than a means of payment.
Behind cryptocurrency is a completely different understanding of the economy and the production of money, as well as the blockchain technology that is difficult to compare technologically with anything so far.
Meaning of NFT
What has changed and greatly driven the world crazy is the emergence of NFT, a non-fungible token. Interestingly, NFT has contributed to unraveling the scalability problem of the Ethereum network.
Other platforms managed to solve that problem, you can go and check the solana monkey business.
But as soon as it became possible, even before (selling) the picture on the blockchain, a living economy developed an ecosystem of artists, collectors, and resellers that quickly turned around and earned large sums of money, attracting media attention.
Even though the cryptocurrency market is still the smallest, it had the highest growth of 187 percent in 2021 thanks to NFTs, which makes it attractive.
Now everything is increasingly based on play to earn, experts assume that in the future no one will even want to play just for fun.
What is Play to Earn?
Play to Earn (P2E) is simply a business model in which users can play the game at the same time and earn cryptocurrencies. It’s a very powerful psychological model that combines two activities that have driven humanity since the beginning of time: making money and having fun.
A key element of this model is to give players ownership of certain assets in the game and allow them to increase their value by actively playing the game.
Usually, in the crypto world, the definition of ownership and even its transfer is possible using irreplaceable NFT tokens.
The main idea is that in the game for earnings, players are rewarded for investing more time and effort in the game.
Best online games
Solchicks is a fantastic NFT game built on the Solana blockchain that revolves around cute and kind creatures. All of these creatures are NFTs that can be purchased on DigitalEyes and Solana marketplace.
There are different levels of rarity in these creatures, atypical, mythical, rare, and legendary. You fight certain battles, and at the end of each battle, you will be able to earn rewards and improve your character.
- Axie Infinity
Axie Infinity is a game inspired by Pokemon that you can buy, care for and breed, and trade digital monsters called Axies. These are creatures that fight, build and hunt treasure.
The game was launched in May 2018 and has gained immense popularity. Individuals can build a collection and use it in the gaming universe.
Sandbox has already made millions by selling pitches and other NFT items. Sandbox players can own, create and manage a virtual world. Sandbox has 166464 plots of land.
The owners of these lands can host and lead events. An individual can also create their avatar and enter Metaverse.
Now that you know all the basics about cryptocurrencies, now you too can explore this ecosystem, and start making money while having fun.
Don’t worry, have fun and you’ll find your community.