You are here

How Gamers are Cashing in using Ethereum (ETH) Non-fungible Tokens

Close-up On Gamer's Hands on a keyboard

Non-fungible tokens (NFTs) are the newest way that cryptocurrency enthusiasts are cashing in on blockchain-based games. In a recent article published by the decentralized apps (dApp) developer Consensys, sixteen of the most popular NFT-based games are investigated in detail.

Consensys is a blockchain venture production studio that builds dApps on the Ethereum blockchain. The recent explosion in popularity of blockchain-based online games has become one of the biggest driving factors behind advancement and development in the blockchain sector.

Non-fungible tokens, or ERC-721 tokens, differ from the more commonly used ERC-20 tokens in that they do not have a set equal value to their counterparts. Two ERC-20 tokens, like two dollar bills, are always identical in value. NFTs, on the other hand, are not all created equal.

Developers of online blockchain-based games in which users can earn tokens while playing have begun to adopt the ERC-721 standard in order to provide greater liquidity and profits for their users. In one test performed by Consensys, the firm managed to accrue $600 worth of profit in just three hours.

The ERC-721 standard allows developers to create unique “collectible”-style assets which appeal to gamers in a similar way that rare collectible cards have in the past. The hugely popular Ethereum-based game Crypto Kitties was one of the original profitable blockchain games but now developers have released a host of new and exciting ways to earn cryptocurrency while killing time online.

Some of the most popular games featured in the Consensys article include:

Cryptokitties

The original online blockchain-based NFT game involves the breeding and raising of digital feline friends. It was recently sold for 600 ETH (approximately $170,000).

Etheremon

Continuing on with the animal theme, Ethermon allows players to capture and train digital creatures known as “Mons” which can then be sold or traded for cryptocurrency.

Decentraland

A hugely popular platform that allows players to buy a virtual plot of land and develop it into a profitable piece of online real estate.

Hyperdragons

Like cryptokitties, this game gives players the opportunity to breed and train digital dragons.

0x Universe

A virtual space-based game in which players can build a spaceship and explore and colonize planets in an expansive online universe.

CryptoBaseball

Trade digital baseball cards of real baseball players in this online version of the age-old past time.

SuperRare

A platform that facilitates the trading of verifiably genuine and unique digital art.

Related posts

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close