GameFi is a viable way to earn money in a crypto bear market
Playing and earning has never been more accessible than it is now. With hundreds of games vying for their share of the market, there are plenty of opportunities to discover. Below, we have the Top 10 best GameFi platforms that you can play and earn money on today.
One of the hottest properties in blockchain gaming at the moment, StepN is a Move-to-Earn platform that gives people money to exercise. You’ll need a pair of Sneakers (an NFT) to start earning, with the floor price currently sitting at 13.95 SOL ($689, at the time of writing). So it’s quite a 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 introduce a leasing function to the platform soon, 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 doesn’t have traditional gameplay elements such as battles, missions and freeplay. The GameFi element is based on players collecting yield from the huge DeFi Kingdom liquidity pools. By staking in-game token JEWEL into liquidity pools, users earn an annual percentage yield, that sometimes runs to over 1000%. This game is basically DeFi with jazzy colors, hence the name, but it doesn’t mean it can’t be a fun way to earn some money.
These little critters are based on tamagotchis, which will be recognizable to anyone who was a 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 fairly high, with the Aavegotchi floor price currently sitting at 2,090 GHST, the game’s native token ($3,240). Fortunately, users can rent an Aavegotchi and collect all the goodies on offer in the Gotchiverse. The game also has staking options where users can stake GHST to earn yield. Committed gamers are rewarded in Aavegotchi, so be prepared to spend time and effort if you want to make some money.
This is the game for everyone who loves collecting and trading cards. The Hive blockchain was built specifically for Splinterlands, so it’s no surprise that the game is by far the biggest dapp on there. Over the past 30 days, over 527,320 unique active wallets connected to it. The best way to play Splinterlands is to go in with a plan. Before you begin, decide if you want to make money, play for fun or gather resources. There are also in-game tournaments to take part in regularly. Splinterlands’ governance token is called Splintershards (SPS) and the best part of the game is that it’s free to start playing, at the basic level. It’s advised that players spend the $10 required to make the entire game available.
Genopets is another Move-to-Earn platform, but this one has an inventive twist. Instead of just exercising and earning tokens for doing it, 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 holders can earn rewards which they can swap for real money. Genopet avatars are currently available on secondary marketplaces with a floor price of 51.5 SOL ($2,588). Genopets Habitat NFTs are available with a floor price of 59.8 SOL ($3,000).
Axie Infinity’s fortunes have been mixed in 2022. The platform’s exclusive blockchain Ronin was hacked back in March and the price of the in-game token AXS has dropped since its November 2021 high. The in-game NFTs and items have also fallen in price since the beginning of the year and the game developers have been working hard to ensure its economy remains sustainable for the long term. But it’s not all bad news. The cheapest Axie NFTs are now available for $6 which means that, for less than $20, anyone can start playing the game tomorrow. Sky Mavis, the developers behind Axie Infinity, has also launched a new Origin series which promises to bring more rewards for success.
Benji Bananas began life as a free-to-play mobile game without blockchain functionality. But web3 venture capital firm Animoca Brands, who owns Benji Bananas, has injected the game with play-to-earn functionality. The game is simple: players swing from vine to vine, past obstacles, and try to remain off the ground as long as possible. The longer you swing, the more you win. Rewards are paid out in PRIMATE which users can swap for ApeCoin (APE), Yuga Lab’s new digital token which people can spend in the Otherside virtual world. The game has recently introduced the Benji Bananas Membership Pass that will enable holders to earn special rewards when playing the game.
Illuvium is a free-to-play fantasy role-playing game 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 bit of money and get yourself some decent Illuvial avatars. The in-game token is ILV which, like all cryptocurrencies and tokens, has been hit by the bear market and has dropped in 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 Illuvials is another viable method for making money in this game.
Mirandus is a play-to-earn MMORPG and is one of Gala Games’ most exciting upcoming titles. The game launched its playable avatars, the Exemplar, in December 2021, when they became available for purchase on 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’s an open-world with absolute freedom; Gala Games has said there are no maps and quests. Players own the story and they also own the economy with the Materium (MTRM) token, which has been on a roller-coaster ride since its launch. Think of Mirandus like The Sandbox or Decentraland, except the world is a fantasy one and the avatars are Humans, Elves and Orcs.
Step App is another Move-to-Earn platform that is still in its very early stages. It’s similar to StepN in that users are rewarded for exercising once they have equipped the appropriate NFT. In this case, users need to put on their SNEAKS before they can Move-to-Earn. The team behind the game came together in late-2021 and the platform is yet to launch its main app – this will drop in beta in the next few weeks. There is currently an ongoing staking process in which users can stake their in-game token FITFI to earn Drop Tickets. With these, they enter into a raffle with the chance to win Lootboxes, which each have a 35% of winning a pair of the sought-after SNEAKS.