GameFi is a viable way to make money in a crypto bear market
Playing and winning has never been more accessible than now. With hundreds of games vying for their share of the market, there are plenty of opportunities to be discovered. Below, we have the top 10 GameFi platforms you can play and make money on today.
One of the hottest properties in blockchain gaming right now, StepN is a Move-to-Earn platform that gives people money to work out. You’ll need a pair of sneakers (an NFT) to start earning, with the minimum price currently set at 13.95 SOL ($689, at the time of writing). So that’s a pretty high financial barrier to entry, especially considering that to earn serious money, a user needs to own a few pairs of sneakers to unlock higher earning potential. StepN will soon introduce a leasing feature on the platform, where players can rent sneakers from other users and share the profits with them.
DeFi Kingdoms is a combination of a game and a decentralized exchange. It does not have traditional gameplay elements like battles, quests, and free play. The GameFi element relies on players earning returns from the huge liquidity pools of the DeFi Kingdom. By staking the game’s JEWEL token in liquidity pools, users earn an annual percentage yield, sometimes exceeding 1000%. This game is basically DeFi with flashy colors, hence the name, but that doesn’t mean it can’t be a fun way to make some money.
These little critters are based on Tamagotchis, which will be recognizable to any child in the 1990s. They were little digital pets that hatched from an egg and needed care and attention to thrive. Aavegotchi are ghosts that roam the blockchain. The barrier to entry is quite high, with the minimum price for Aavegotchi currently set at 2090 GHST, the game’s native token ($3240). Fortunately, users can rent an Aavegotchi and collect all the goodies on offer in Gotchiverse. The game also has staking options where users can wager GHST for returns. Engaged players are rewarded in Aavegotchi, so be prepared to spend time and effort if you want to earn some money.
This is the game for everyone who loves to collect and trade cards. The Hive blockchain was created specifically for Splinterlands, so it’s no surprise that the game is by far the largest dapp out there. In the last 30 days, more than 527,320 unique active wallets were connected. The best way to play Splinterlands is to go in with a plan. Before you start, decide if you want to earn money, play for fun, or gather resources. There are also in-game tournaments to participate in regularly. The government token for Splinterlands is called Splintershards (SPS) and the best part of the game is that it is free to start playing, at the basic level. It is recommended that players spend the required $10 to make the entire game available.
Genopets is another Move-to-Earn platform, but this one has a nifty twist. Instead of just exercising and earning tokens for doing so, users level up their in-game Genopet NFT avatar by moving around in the real world. The game recently launched Genopets Habitat, the virtual worlds with which owners can earn rewards that can be exchanged for real money. Genopet avatars are currently available on secondary markets with a minimum price of 51.5 SOL (2,588 USD). Genopets Habitat NFTs are available at a minimum price of 59.8 SOL (3,000 USD).
Infinity’s fortunes have been mixed in 2022. The platform’s exclusive blockchain, Ronin, was hacked in March and the in-game AXS token price is down from its November 2021 high. Items and The game’s NFTs have also dropped in price since the beginning of the year and the game’s developers have been working hard to ensure that their economy remains sustainable in the long run. But it’s not all bad news. The cheapest Axie NFTs are now available for $6, which means for less than $20, anyone can start playing tomorrow. Sky Mavis, the developers behind Axie Infinity, have also launched a new Origin series that promises to bring more rewards for success.
Benji Bananas started life as a free mobile game with no blockchain functionality. But web3 venture capital firm Animoca Brands, which owns Benji Bananas, has injected the game with play-to-win functionality. The game is simple: players swing from vine to vine, overcome obstacles and try to stay off the ground as long as possible. The longer you swing, the more you earn. Rewards are paid out in PRIMATE, which users can redeem for ApeCoin (APE), Yuga Lab’s new digital token that people can spend in the virtual world of Otherside. The game has recently introduced the Benji Bananas Membership Pass which will allow holders to earn special rewards when playing the game.
Illuvium is a free-to-play fantasy RPG developed on the Ethereum blockchain that launched its open beta in Q1 2022. Players explore a 3D world and capture Illuvials, the mythical creatures that populate the virtual world. Although the game is free to play, it gets much better if you spend a little money and get some decent Illuvial avatars. The token of the game is ILV which, like all cryptocurrencies and tokens, has been affected by the bear market and has lost value in recent weeks. Players can earn rewards by winning battles against opponents or betting on the outcome of other users’ duels. Hunting, capturing, and selling Iluvials is another viable method of earning money in this game.
Mirandus is a play to win MMORPG and is one of the most exciting upcoming titles from Gala Games. The game released its playable avatars, the Exemplar, in December 2021, when they became available for purchase from Gala Games. Now users can pick up the cheapest ones for 0.0688 ETH ($134) and start playing Mirandus when it launches later this year. It is an open world with absolute freedom; Gala Games has said that there are no maps or missions. Players own the story and they also own the economy with the Materium Token (MTRM), which has been on a rollercoaster ride since its launch. Think of Mirandus like The Sandbox or Decentraland, except the world is fantasy and the avatars are humans, elves, and orcs.
Step App is another Move-to-Earn platform that is still in its early stages. It is similar to StepN in that users are rewarded for exercising once they have equipped the appropriate NFT. In this case, users must put on their SNEAKS before they can Move-to-Earn. The team behind the game met in late 2021 and the platform has yet to release its main app; It will be released in beta in the coming weeks. There is currently an ongoing staking process where users can stake their FITFI token in-game to earn Delivery Tickets. With these, they are entered into a raffle with a chance to win Lootboxes, each of which has a 35% chance of winning a pair of sought-after SNEAKS.