In the continuing pandemic crisis, everything became online. But who could have thought that the way to earn real cash can also be attained through online games, especially in these times of need?
Well, the newly developed Non-Fungible Token(NFT) games are the answer that will convert the collectible tokens into real currency such as the Philippine Peso (PHP) and US Dollars (USD). It was the third quarter of the year 2021 since these play-to-earn games hyped the globe, especially the Philippines through various social media platforms.
Play-to-earn game Axie Infinity, a well-known NFT game reported more than 1.8 million daily users in August and daily sales volume reaching as high as $33 million. Since the game was launched in March 2018, the total sales volume is close to $2.3 billion.
On the other hand, other games that are also being exhibited online are Defi Pet, Plants Vs Undead, Block Farm Chain, Splinterlands, Gods Unchained, Lost Relics, Skyweaver, and many others that are still to be developed. These NFT games have their respective tokens such as Smooth Love Potions (SLP) from Axie Infinity, Defi Pet (DPET) from Defi Pet, Plants vs Undead (PVU) Token from Plants Vs Undead, and other NFT games respectively.
To earn such real money in these games, players must collect these tokens depending on the mechanics and features of the respective games. As an example, SLP from Axie Infinity can be collected through adventure mode and PVP battles in the Arena which may be different from other NFT games depending on the context and developers.
After collection, the tokens can be converted to such cryptocurrencies associated with the token such as SLP to Ethereum, DPET to Bitcoin, PVU to Bitcoin, and others. These cryptocurrencies can be now marketed to PHP or USD and are available on Binance, a virtual market for cryptocurrencies. The convenience of this mode of earning money has been seen throughout the world as it does not require people to leave their homes.
Many have surely invested their time and efforts in these phenomenal NFT games, especially in times of pandemic. But on the other hand, these advantages also demonstrate certain drawbacks due to these still-developing features of certain NFT games.
Moreover, the oversupplied tokens provided by the game have affected its price over time, therefore, affecting the demand-supply relationship of the market.
In this case, it is not exhibited that this assures instant money for people planning to invest and one should always look forward to the advice of cryptocurrency experts as they always say ” Invest what you can afford to lose”.
