NFT games are all the rage these days. People have been playing a lot of titles such as "Axie Infinity" and are earning good money from it. In these NFT Games in the Philippines, people reportedly earn as much as US$100 (or Php 5,000) a day. So how do they work?
NFT Basics
Before you go to NFT Games in the Philippines like "Axie Infinity," you need first to understand what an NFT is. It is an acronym for Non-Fungible Token. A NFT is a digital representation of any real-world object. Most of the time, it's art, music, videos, and sometimes valuable items. People buy and sell NFTs online, using cryptocurrencies to trade. This brings you to one thing you should know about non-fungible tokens: they're not a type of crypto. Unlike crypto, such as Bitcoin or Ethereum, you cannot exchange an NFT for something else like another NFT. These are unique.
How Does An NFT Game Make Money for people?
If you've been following the tech space recently, you would’ve heard the stories of people making a significant money playing NFT Games in the Philippines. Some people who lost income during the pandemic focused solely on playing these games to earn a living. So, how do these games work? If you understood the definition at the beginning of this article, you already have a basic idea. NFT Games in the Philippines such as "Axie Infinity" and "Splinterlands" allow people earn money by grooming and selling character axolotls such as Axies, which players treat as digital pets. To get started with "Axie Infinity," a new starter would have to buy at least three Axies to join the game. Due to the substantial initial cost of purchasing/borrowing/breeding Axies, in-game guilds have recently developed to subsidize players’ upfront fees or grant scholarships in exchange for their SLP profits while playing.
One such in-game guild is Crypto Gaming United or CGU with one of the largest community bases globally. Scholars are not obliged to pay anything to begin playing. Instead, CGU covers all character/NFT expenditures through a scholarship, which can total $4,000 per participant. Furthermore, CGU offers instruction and mentorship to its associated gamers in order to improve their cryptocurrency understanding and gaming skills. The earnings from the in-game tokens are split between the scholar CGU in a profit sharing model. Join their discord to learn more.
Should You Go Try Out NFT Games in the Philippines?
Why not? It can be a great source of extra income if you put enough time and effort into it. But since this is a relatively new type of tech, the safest bet is to do something treat them more as a hobby that earns you a bit of extra change.