How do you make money with blockchain games?
The amount of money you make through blockchain games depends on the skills and strategies you apply to the game. If you have no previous experience with blockchain gaming, it is best you start with simple play-to-earn games like Axie Infinity. Here is a step-by-step guide that will help you make money while playing Axie Infinity, one of the most popular games right now.
Step 1: Create an Ethereum wallet
Firstly, you need an Ethereum wallet like MetaMask to start playing Axie Infinity. MetaMask helps you store and transact crypto tokens and NFTs and interacts with other blockchain applications. If you play Axie Infinity and earn tokens, you will need an Ethereum wallet to store them. So, create a MetaMask wallet account either using the desktop version or the mobile version. You need to create a password and store the seed phrase in a safe place.
Step 2: Get a Ronin wallet
The Ronin blockchain is an Ethereum sidechain solution. It is designed by the team behind Axie Infinity to overcome the network congestion of Ethereum. The players of Axie Infinity will be able to enjoy fast and seamless transactions of tokens using the Ronin wallet. Create a unique password and write down the seed phrase in a safe place to get a Ronin wallet.
Step 3: Create an Axie Infinity account
Now, you need to go to the Axie Infinity marketplace and log in with Ronin wallet to create an account. After creating the Axie Infinity account, you can name it or edit it afterward. You need to link your email and password to your account and complete the verification process to proceed. After that, you would have to link your MetaMask wallet to the Axie Infinity account.
Step 4: Buy your first Axies
To start playing Axie Infinity, you need 3 Axies. There are two methods to get Axies - buying them from other players in the marketplace or enrolling in the Axie Infinity scholarship program. You can deposit ETH to Ronin's wallet and start buying Axies from other players.
If you think buying Axies is a large investment, you can enroll in the scholarship program. It is conducted by Axie owners, who will lend their Axies to you in return for a portion of SLP token earnings. Most people use a centralized exchange like Binance to cash in and cash out from crypto-to-fiat and vice-versa through their MetaMask wallet.
Step 5: Play the game and earn rewards
Once you are done setting up the accounts and obtaining your Axies, you can start playing the game on PCs or mobile devices. When you battle with other players in the game and win, you will get SLP tokens as rewards. Another way to earn money is through breeding Axies. The game will charge you SLP or AXS (in-game token) to breed more Axies.
Step 6: Transfer SLP tokens
After earning some SLP tokens by playing the game, it's time to claim the earned tokens. After you claim tokens successfully, they will reflect on your Ronin wallet. Now, log in to your Binance account (assuming you have a Binance account previously. If not, you can create a Binance account). Select SLP tokens in the 'deposit crypto' option and select 'RON' for the network. You need to copy the Ronin address that is generated on Binance.
Now, go to your Ronin wallet and select the 'send' option since you need to move your SLP tokens from the Ronin wallet to Binance. In the next screen, paste your Binance address under 'To', select SLP under asset, and enter the amount you wish to transfer. When you confirm the transaction, your SLP will be deposited into your Binance account.
Step 7: Cash out your SLP
After transferring SLP tokens to your Binance account, you can convert them to fiat or other cryptocurrencies like USDT. Go to Binance and select 'Fiat and Spot' and choose 'Convert' to convert your SLP into another crypto. If you want to sell your SLP directly through P2P, you can select 'Transfer' to move SLP from Spot to funding. After selecting P2P, you can get paid in your desired fiat currency and your desired bank account.