How to Earn Passive Income with Crypto Games

Are you a gamer looking to turn your passion into a steady stream of income? You're in the right place! In this guide, we'll explore various ways to earn passive income through games, from GameFi staking to streaming, referrals and in-game trading. With enough effort, the aspiration can become a realization and these different methods are awesome choices to make money. Whether you're new to this concept or looking to maximize your earnings, this guide will show you how to get started.

Passive Income With Crypto Gaming: How Gamers Earn While Playing

For many gamers, the long-awaited dream of turning countless gaming hours into real money has finally come true. Passive income refers to earning money with minimal ongoing effort after the initial work is done. In the gaming world, this can include earning rewards while you play, generating income from game-related content, or even staking digital assets within games. The key is to find methods that align with your interests and gaming habits.

GameFi Staking: Earn While You Play

Thanks to blockchain and GameFi, gamers can now transform their passion into a passive income stream. GameFi, a blend of gaming and finance, allows players to earn money through blockchain-based games. This game-changing concept means you can earn while you play, making every moment of gameplay even more rewarding. Gaming isn’t just a hobby anymore; it’s a pathway to financial success.

One of the most popular ways to generate passive income in this space is through staking.

What Is GameFi Staking?

Think of GameFi staking as a savings account on your gaming property. For passive income, the infusion of DeFi components allows users to stake their earnings in cryptocurrencies and NFTs to earn more or lock away their profits to earn yields over time. DeFi yield lets eligible users earn yield by lending their crypto to third-party DeFi protocols.

By staking your tokens you are helping the game’s ecosystem develop, and for this responsibility, you will earn rewards. Whether you’re staking characters, weapons, or tokens, each contributes to a pool that generates returns. It’s an ideal combination of gaming and DeFi, providing both entertainment and a monetary advantage.

How It Works:

For example, in games like Axie Infinity, players earn Axie Infinity Shards (AXS), an ERC-20 governance token for the Axie Infinity Universe. These tokens can be staked, similar to a savings account, where they generate additional income over time. This method allows you to earn passive income even when you're not actively playing. That’s the idea behind GameFi staking— the fusion of gaming and finance.

As of February 2024, the estimated reward rate for staking AXS was 46.05%, meaning that stakers could earn around 46.05% if they held their AXS for a year. The staking ratio, or the percentage of eligible tokens being staked, was 43.18% at the time.

Getting Started:

• Choose a GameFi Staking Platform: Research and select a platform that offers staking opportunities. Axie Infinity and Xield Protocol are popular options that offer staking options for various game tokens.

• Earn and Stake Tokens: Play the game to earn tokens, then stake them within the platform to start generating passive income.

• Monitor Your Earnings: Regularly check your staked tokens and reinvest your earnings to maximize returns.

Play-to-Earn Crypto Games for Passive Income

Unlike traditional video games, where players are limited to in-game rewards and achievements, play-to-earn (P2E) games reward players with cryptocurrency or in-game assets that can be traded or sold for real money. Let's explore some of the best play-to-earn games that have gained popularity among gamers:

1. Big Time

Big Time is a role-playing game that immerses players in the world of Time’s End, where groups of six collaborate to complete missions in dungeons. Players can earn NFTs and tokens with significant trading value, making it a lucrative option for those interested in gaming and digital assets. With a development team that includes veterans from Decentraland and Fortnite, Big Time offers a combination of immersive gameplay and cryptocurrency rewards without requiring a substantial financial commitment.

2. Axie Infinity

Axie Infinity, inspired by Pokémon, is a P2E game where players collect, breed, and battle digital creatures called Axies on the Ethereum blockchain. The Axie Infinity ecosystem has two in-game tokens, Axie Infinity Shards (AXS) and Smooth Love Potions (SLP). Let’s learn about them briefly:

Axie Infinity Shards (AXS)

AXS is the game’s native governance token that gives players voting rights on game-related decisions. Holders of AXS tokens hold governance rights and automatically become a part of Axie’s decentralized organization, helping the overall development of the platform. Players can earn AXS by participating in in-game activities and competitions and also stake their AXS to earn staking rewards. AXS is an ERC-20 token standard that is tradeable on the Ethereum blockchain.

Smooth Love Potions (SLP)

SLP is also an ERC-20 token used within the Axie Infinity game. It serves as an in-game currency for breeding new Axies that can be converted into cryptocurrency and traded on crypto exchanges. Players of Axie Infinity can earn SLP tokens by winning battles and completing quests.

As one of the most successful play-to-earn games, Axie Infinity provides a popular and proven way for gamers to generate income through strategic gameplay.

3. The Sandbox

The Sandbox is a multiplayer metaverse game where players can create, own, and monetize their virtual worlds. Operating on the Ethereum and Polygon blockchains, players can buy virtual land, build structures, and participate in various activities to earn the game's native token, SAND. The Sandbox offers a robust platform for creativity and entrepreneurship, enabling players to turn their virtual endeavors into real-world profits.

Content Creation: Earn from Streaming and Videos

If you enjoy sharing your gaming experiences, creating content can be a lucrative way to earn passive income. Streamers and internet personalities make a living off of casually playing video games and interacting with their fans, which explains why many use Twitch or Kick as their main social media platform - a video game streaming service.

How It Works:

Streamers earn money by fans simply consuming their video content or live streams. YouTube is the biggest website for content creators and provides the highest pay for its users. Uploading videos to the platform is easy and accessible to all, offering an awesome route for video gamers to upload their gameplay to their channels and earn money as a result.

Earn Passive Income Through Referral Programs

Another effective way to earn passive income through games is by referring your friends or audience to gaming platforms. Referral programs allow you to earn a percentage of the earnings or rewards generated by the players you bring to the platform. The more players you refer, the more you can potentially earn over time.

For example, Rollspace offers a referral program where you can earn by inviting others to join the platform.

Here’s How It Works:

• 2% Protocol Fee: Rollspace has a 2% protocol fee on all games. A portion of these fees is returned to the community, with top performers on the leaderboard earning more at the end of each season.

• Earn from Referrals: For every user you invite, you earn 20% of their lucky points. Additionally, for every user they invite, you earn 5% of their lucky points.

• Boost Your Earnings: If you have an audience, you can leverage your reach to invite more users to play PVP games on Rollspace. The more users you invite, the higher you climb on the leaderboard, increasing your chances of earning bigger rewards at the end of the season.

How To Earn Passive Income Via Referrals?

1. Go to Rollspace Referral
2. Connect your crypto wallet
3. Copy Referral Link and share it with your audience or friends.

By participating in referral programs like Rollspace’s, you can steadily build a stream of passive income while helping others discover a new way to earn through gaming.

In-Game Asset Trading: Turn Virtual Items into Real Money

Many games such as Gods Unchained or Illuvium allow players to buy, sell, and trade in-game items like skins, weapons, or characters. These virtual assets can be highly valuable, especially in games with large player bases. Some players even make a significant income by trading in-game assets.

How It Works:

• Acquire rare or valuable items: You can earn these items through gameplay or purchase them from other players or in-game stores.

• Sell on marketplaces: Platforms like Steam Marketplace and OpenSea allow you to sell your items for real money.

Factors Affecting Value:

• Rarity: The rarer an item is, the higher its value will be.
• Demand: Items that are in high demand by other players will also be more valuable.
• Game popularity: Games with large player bases tend to have more valuable in-game assets.

Conclusion

Earning passive income through gaming is not just a dream; it's a reality for many gamers today. Whether through GameFi staking, play-to-earn games, content creation, referrals or in-game trading, there are numerous ways to turn your gaming hobby into a profitable venture.

Start earning now!