How To Monetize Blockchain Games 🚀 Tips & Tricks

I believe in the potential of blockchain games. During the bear market, the digital assets of many popular games fell well below their peak. However, my view on the matter has stayed the same. Play-to-earn games make money for developers and gamers, but success requires skill. I've been very interested in play-to-earn games for several years. I want to share with you the knowledge and experience I have gained.

Player vs. Investor

What if I could say one sentence about blockchain games? The investment side of blockchain games is essential. I would like to rewrite the sentence differently: To make money in play-to-earn games, it is necessary to be a good investor. In fact, knowing technical analysis is instrumental. Return is determined by the game selection and the right investment timing. Being a good player is secondary. It will become more critical in the future when the volatility of digital asset prices decreases, but for now, being a good investor makes the difference.

Timing The Market

Some analysts argue that timing the market is optional; time in the market is essential. This argument can be true for Bitcoin and Ethereum but is not valid for game assets. High price volatility adds to the importance of timing. Good timing makes it possible to make money from even mediocre games. On the other hand, even investing in Splinterlands, which will become a play-to-earn classic in the future, can have negative consequences.

It is necessary to avoid hype. When we hear the game's name for the first time, that game is at the height of the hype because mass participation leads to a rapid price rise. We can invest in games we believe in their potential while under construction. Or we can invest in games that continue developing when prices fall. So how do we know prices have dropped enough? Technical analysis can help us with this.

Playing The Right Game

Angel investors attach great importance to the background of start-up founders. Sometimes the CV of the founders can even get in front of the business idea. Playing a blockchain game means making a micro-investment in it. Therefore, it is vital to know the game's developers. If the game has been playable for a while, we can look at the frequency of improvements made. Criteria such as how the game seems, the community's excitement, the number of players, and the liquidity of the game's NFTs can help in the selection.

Ten years from now, which of today's blockchain games will survive? Is the game we're playing and its ecosystem constantly evolving? If we want to make big bucks, we have to harness the power of compounding. It can only be possible by playing quality games.

Understanding Game Mechanics

Knowing the game's rules in detail will positively affect the return from the competition. Joining the gamer community and chatting with people can give us important tips. Announcements made by developers sometimes cause us to catch essential opportunities. Discipline becomes more critical when we play games to make money. For example, in idle games, we need to monitor our status in the game regularly. Stability will allow us to get better at the game over time.

Analyzing NFT and Coins

It no longer surprises us to encounter a dozen different assets in blockchain games. We should prefer rare NFTs. Another issue we should pay attention to is the inflation and utility of coins. Game builders can create financial mechanisms that dwarf even DEFI platforms. On the other hand, trading opportunities sometimes arise in the NFT market. We can purchase certain NFTs at high discounts. Sometimes the value of certain NFTs can rise unsustainably. Therefore, we must be vigilant and seize opportunities.

TL;DR

When I read the paragraphs above, the following questions came to mind: How hard can gaming be? If we are going to worry about the financial aspect, where is the pleasure of the game? The financial part can be considered another dimension of the play. In summary;

Financial literacy is required to earn money from play-to-earn games. Knowing technical analysis will be helpful. We need to avoid investing in games in times of hype. We are in a bear market; almost no game is in the hype era. Investment timing and choosing a suitable game are essential. We should prefer games that are candidates to become classics, such as Splinterlands. Of course, investing in simpler games with a short-term perspective is possible. Understanding the game's mechanics well and following the announcements will increase our performance. Stability is essential as our knowledge, skills, and portfolio grows over time.

Loving the game is also essential.

Thank you for reading.

Cover Image: Midjourney App