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What are Non Fungible Token games and how do they work?
Non Fungible Token are unique digital collectibles on the blockchain. This characteristic makes them suitable for use in games as representations such as characters, consumables, and other exchangeable items.
NFT games have become popular in the Game-fi world as a way to earn revenue. You can sell your NFTs in-game to other collectors and players and even earn tokens with play-to-earn models.
When you move your in-game NFTs, be sure to transfer them to a compatible wallet and carefully read the rules of any NFT games you might play to see any chance of loss.
What are NFT play-to-earn games?
NFT play-to-earn games give users the opportunity to generate a revenue stream through the game. Typically, a player is rewarded with tokens and occasional NFTs, earning more based on the time played.
The token method is usually the more stable of the two, as tokens can be earned consistently through play while NFT drops are based on probability.
The amount of money you can earn by playing an NFT game will depend on the specific mechanics of the game and market demand. The money you earn comes from other users who value NFTs or cryptocurrencies earned in the game.
Can I lose money by playing NFT games?
The question everyone is asking, the answer is yes, it is possible to lose money playing NFT games. The exact amount depends on the type of game you are playing, its mechanics, and the value of the NFTs you are running. Losing money does not necessarily mean you are being scammed, because NFTs are speculative and their value depends on what people put on them.
Like any cryptocurrency investment, you only spend what you can afford to lose.
By now in 2021 these NFT games from which it is possible to make money are springing up like mushrooms, and it is impossible to keep up with all the ones that are currently in the beta stage. Surely to optimize and avoid wasting time it is much better to choose 3/4 games that can lead to profit in the long run.
It is generally better to start playing when the game is in the beta stage, that is, when the value of the token is very low.