How to Earn Crypto by Playing Games

Learn how you can earn crypto rewards while having fun with this comprehensive guide.

January 11, 2024
How to Earn Crypto by Playing Games

Ever dreamt of turning your gaming skills into crypto rewards? Well, good news – it's totally possible! Play-to-earn (P2E) has emerged in the last few years as one of the hottest new frontiers in online gaming.

In this guide, we're going to show you the ropes on how to earn cryptocurrency by playing games. Yep, you read that right – play games, earn crypto – It's that simple! Stick around as we break it down into easy steps and unveil the awesome world where gaming meets crypto.

What are Play-to-Earn Crypto Games?

Play-to-earn (P2E) is a type of video game that rewards players for their in-game achievements with assets that have real-world monetary value. Merging the worlds of cryptocurrencies, non-fungible tokens (NFTs), and decentralized finance (DeFi), P2E games allow players to acquire digital assets that have tangible value in exchange for in-game achievements.

This exciting new concept is blurring the lines between fun and profit, attracting millions of players and investors alike.

How Does it Work?

Imagine a game where instead of collecting virtual coins or points, you earn crypto tokens that have real-world value. These tokens can be used within the game to purchase items, upgrade your character, or even trade on cryptocurrency exchanges for actual cash.

Think of it like this:

  • Traditional games: You spend hours grinding for in-game rewards that have no real-world value.
  • Play-to-Earn games: You spend hours grinding for crypto tokens that can be converted into real money.

Can I Really Earn Crypto With Play-to-Earn Games?

In short, yes, it is possible, as P2E games are blockchain-based and function similarly to Bitcoin and the space is only getting more popular.

A recent Statista report revealed that by 2026, at least 25% of people worldwide will spend at least one hour per day in the metaverse, with 30% of global businesses expected to have metaverse-ready projects and services by then.

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There are different ways that players can earn from play-to-earn games, depending on the game design and mechanics. Some common methods are:

  • Trading in-game tokens earned through achievements or as a reward for other cryptocurrencies or fiat money on exchanges and marketplaces
  • Collecting NFTs that represent unique game items or characters and selling them
  • Staking or lending in-game coins to earn passive income (provided this feature is available in the game of your choice)
  • Taking part in governance and community activities that are related to game development and direction
  • Competing in in-game tournaments that offer coins or NFTs as prizes
  • Building upon virtual plots of land in a metaverse and charging admission

How to Get Started with Play-to-Earn

For those intrigued by the concept of play-to-earn and want to get started, here are some steps to guide you:

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  1. Research and choose a game: Explore the wide variety of play-to-earn games and find one that aligns with your interests. Consider factors such as gameplay mechanics, community size, and potential earnings.

  2. Set up a crypto wallet: Most play-to-earn games operate on blockchain platforms, so you'll need a compatible crypto wallet, such as Trust Wallet or MetaMask to store your earned tokens. Create an account and securely store your wallet's recovery phrase.

  3. Acquire the necessary cryptocurrencies: Depending on the game you choose, you may need to obtain specific cryptocurrencies to participate fully. For example, on Rollspace, you need Binance Coin (BNB) to start playing and earning. Research the game's requirements and use reputable exchanges to purchase the required tokens.

  4. Understand the game mechanics: Familiarize yourself with the game's rules, and objectives. Take advantage of tutorials, guides, and community forums to enhance your understanding.

  5. Start playing and earning: Dive into the game and start completing quests, battling opponents, or participating in in-game activities to earn rewards. As you accumulate digital assets or cryptocurrencies, you can choose to hold onto them, trade them on specialized platforms, or convert them to fiat currencies (if possible).

  6. Connect with the community: Engage with other players, join forums, and participate in social media channels dedicated to the game. Networking with experienced players can provide valuable insights, strategies, and potential partnerships.

Are Play-to-Earn (P2E) Games Safe?

Generally speaking, blockchain is a safe and secure technology that protects your digital coins and transactions. That being said, it’s essential that you learn as much as possible about crypto, blockchain, DeFi, and P2E to minimize the risk of being scammed. In essence, blockchain gives us more freedom with our money, which means we need to be more responsible.

Here are some of the key factors regarding safety to consider when playing P2E games:

  • Ensuring Overall Security — Players must use secure and reputable wallets, platforms, and exchanges to protect their assets from hackers, scammers, and fraudsters. They must also keep their private keys and passwords safe and never share them with anyone.

  • Navigating Regulatory Landscape — P2E games currently operate in a largely unregulated space, lacking a clear legal framework or governing authority. This can lead to uncertainty, ambiguity, and disputes over taxation, ownership, intellectual property, and consumer protection issues. Players must know their jurisdiction’s laws and regulations and comply accordingly.

  • Managing Volatility — P2E games are subject to the volatility of the crypto market, causing the values of tokens and NFTs to fluctuate significantly over time. You should be prepared for the price to increase and decrease at any time and act accordingly.

Get Started in Play-to-Earn with Rollspace

Play-to-earn gaming represents an exciting leap forward, transforming traditional gaming from a mere pastime into a potentially lucrative, crypto-based endeavor.

By harnessing the power of blockchain technology, P2E empowers players to earn real-world rewards and offer the potential for some to make a living doing what they love. Whether you're a seasoned gamer or just starting out, blockchain gaming offers many opportunities waiting to be explored.

Rollspace lets you play and earn with web3 crypto games in a decentralized manner while maintaining complete control over your funds. Simply connect your wallet and you’re set to dive into the fun.

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Here’s how it works:

To start playing and earning crypto with games on Rollspace, fund your wallet (Trust Wallet or MetaMask) with BNB (Binance Coin), open the in-app browser and follow the steps below:

  1. Go to Rollspace. Click on “CONNECT” to link your wallet
  2. Select your wallet, then click “SIGN” in the next screen that appears. Access your gaming wallet by clicking on the currency in the top right corner,
  3. Specify the BNB amount for deposit in the next screen and click "DEPOSIT,”
  4. Confirm the transaction by clicking “CONFIRM

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Once your crypto is in order, go to our game collection, pick one that you like to start playing.

Start Earning with Rollspace today!

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