Non-fungible tokens appear to be an essential component of any cryptocurrency holder’s portfolio. It’s no surprise, given that the NFT market has just boomed, and these tokens appear to be everywhere. NFT gaming is one topic that has gotten a lot of attention in recent months. Play-to-earn cryptocurrency games, in particular. Everywhere you turn, a new game appears, promising players the potential to win crypto or NFTs simply by playing the game.
That’s a fantastic idea! But how can one enter the NFT gaming crypto sphere? How do you get gaming NFTs to play some of the more popular P2E games?
That’s precisely what we’re going to look at in this piece! We can already offer you a hint: all of your gaming NFTs you can buy from Binance.
What exactly is “Play-to-Earn” in the world of NFT Gaming?
Before delving too much into gaming NFTs, it’s worth delving a little more into the notion of “play-to-earn.” After all, this is one pillar of the entire NFT gaming business, to begin with! Play-to-earn is a gaming paradigm that allows users to earn cryptocurrencies or crypto NFTs while playing a certain game. Implementing P2E into those individual games will vary, but the overall concept will always be the same.
This introduces an intriguing and attractive potential into the mix: the opportunity to gain genuine financial assets while playing games. Undoubtedly, this is a fantasy shared by many players.
However, comparable models existed before NFTs were in the picture. Some games allow players to earn tokens or coins, which they may then use to purchase special characters, objects, or other assets.
These assets would then be tradable on a designated marketplace and able to be sold to other players for genuine, real-world money. There are a lot of legal difficulties that may arise from this, and there aren’t many such games out there, but the concept existed before crypto was involved.
The NFT industry merely shortened the process and fill in the gaps. That being stated, how do play-to-earn crypto games work?
How do play-to-earn crypto NFT gaming work?
Let’s look at a handful of instances. Axie Infinity is most likely the most well-known product to emerge from NFT gaming.
Axie is a blockchain-powered Pokémon-style game. You may get your first Axies, then combat other players and expand your digital animals while collecting experience points and unique in-game cash. It’s a normal P2E game in that the more you play, the more prizes you’ll be able to earn.
You can also sell axies as non-fungible tokens (NFTs) on several non-fungible token platforms. This allows you to earn real cryptocurrency for the in-game items you use!
Another example is Mobox, which is near the Binance NFT marketplace. This is a DeFi yield farming game, which has grown in popularity in the NFT gaming area. To get started, you’ll need to gain a unique MOMO Mystery Box on the Binance NFT market.
You will then be able to get MOMO characters. These characters may battle other players, farm cash, or even bet for MBOX tokens.
This leads me to my second argument, which is the mechanics of P2E gaming NFTs.
How do Play-to-Earn Games Work?
Essentially, NFT gaming crypto works in two ways: you can either play games to earn prizes inside them or you may earn genuine cryptocurrency while you play. While they may sound similar, these two approaches are quite distinct. Foremost, earning in-game incentives. NFT gaming platforms that provide such chances contain NFT characters for you to gain, earn, and use in-game. Axie Infinity, as previously said, is a fantastic example of an in-game reward-providing enterprise.
Such games provide players the option of doing anything they want with the characters they gain in the game or selling them as NFTs to other players, either directly or through an NFT marketplace.
Stronger characters not only have greater numbers, but they are also frequently in more demand.
Players may establish a whole in-game economy with these sorts of NFT gaming initiatives. Supply and demand will come into play, and uncommon characters will get a top prize. This motivates those same players to commit to the game hoping to get (or earn) such characters for themselves.
On the other hand, some games allow you to earn bitcoins while you play. The aforementioned Mobox NFT gaming project would be an excellent illustration here. You will effectively be able to earn in-game cash – tokens – for different activities that you take in these sorts of games. You can stake these tokens to earn a variety of rewards.
Play-to-earn crypto games that use this form of earning frequently include NFT characters and trinkets. However, the focus is on yield farming and staking functionality.
How to Buy Gaming NFTs: The Binance NFT Marketplace
By this time, you should have a solid understanding of what NFT gaming is and how gamers may earn money while playing various NFT-powered games.
That’s fine, but how does one get started?
The very first step that you’ll frequently need to take is to get gaming NFT for the specific game that you’d like to play.
Perhaps the game of your choice causes the purchase of a digital monster egg, which will hatch into your first virtual pet? Or is there a key that allows you to access your first character? These are frequently the incentives for players to take part in the market from the start of their NFT gaming experience.
So, without a question, the ideal location to begin your search for NFT gaming cryptos is on a specialized marketplace. While there are other marketplaces available for you to explore and use, the Binance NFT platform is perhaps one of the greatest options.
Why? There are several causes for this. Some of them are:
- Binance NFT is the only place where you may play a variety of games.
- Transaction costs are minimal.
- KYC and security measures for users.
- There is just one account for the Binance exchange and the NFT marketplace.
- Boxes of Mystery.
The Binance NFT market is without a doubt one of the greatest locations to begin your NFT gaming career – select a game that interests you, buy your first gaming NFTs, and start playing!
How Do I Purchase NFTs on the Binance NFT Market?
If you already have a Binance account, you will get gaming NFTs considerably more quickly. However, for the sake of this lesson, we’ll pretend you’ve never used Binance before and that this is your first experience trading crypto or NFTs.
Step 1: Register for a Binance account.
To begin, you must establish an account on Binance – particularly, the exchange section of the platform. Simply follow the instructions described by the account creation wizard, and the procedure should not be too difficult.
However, during the setup of your account, you will be required to prove your identity – you must pass the Binance KYC verification procedures. Because Binance complies with all applicable KYC & AML rules and regulations, this is a required step before trading gaming NFTs.
Simply submit your ID and your residence address. The verification procedure should be short, and they will contact you once it’s completed.
Step 2: Buy Cryptocurrency
After that, you’ll need to buy some bitcoin. Binance allows you to do so using a credit or debit card, which is easy and should just take a few minutes.
Which cryptocurrency should you purchase? It all depends on the cryptos that they will accept as payment for the individual NFT or NFT collection that you want to buy. In most circumstances, however, the Binance NFT marketplace will take BNB currencies as payment.
After you purchase the cryptocurrency of your choice, it will deposit the coins into your wallet. For the time being, you may just keep the bitcoin in your Binance account wallet.
Step 3: Find Your Desired NFT in the Binance NFT Marketplace
It’s now time to visit the Binance NFT marketplace. While it is a slightly independent platform from the exchange, you may use your Binance account to access all the company’s services, including the NFT marketplace. The next significant step is to locate the real NFTs that you’d like to purchase. If you already know what you want, it makes things a lot easier. However, most individuals desire to try out play-to-earn cryptocurrency games but don’t know where to begin.
Well, there are a few possibilities to consider, as well as a few distinct strategies to use, while looking for the greatest initial NFT gaming assets for yourself.
Foremost, if you’re unsure what you want, you may purchase a Binance-exclusive Mystery Box. Simply select the boxes that appeal to you and make your purchase – inside, you’ll discover themed NFTs, with the potential to uncover a rare token among them!
The Mystery Boxes are all themed. If you’re not sure what game you want to play, there’s no need to look for a specific box – simply choose the one that seems the most intriguing to you!
Furthermore, you may always conduct some study to discover if the project whose NFTs are accessible in the Mystery Box includes play-to-earn mechanisms! If Mystery Boxes aren’t your thing, there are alternative methods to explore the market. You may go to the gaming gallery, where you’ll discover all the current NFT collections and the impending IGO drops.
Finally, you may look at the prominent collections on the Binance NFT marketplace’s top page and ranking boards. You’ll find NFTs that have already gotten a lot of attention from your peers in this section.
Step 4: Get the NFT
Once you’ve decided on the best NFT gaming crypto asset for you, it’s time to buy! Because they share your Binance account across platforms, they may do immediately this without transferring cash from your Binance exchange to the NFT platform.
In the Binance NFT marketplace, you can gain an NFT gaming asset in a variety of ways. Generally, you’ll be bidding on an auction, acquiring an NFT for a predetermined price, or purchasing and opening a Mystery Box. You’d have to put a bid on the NFT of your choosing and wait for the auction to finish with an auction. Whether you win or lose, it will lock your bid in until the auction concludes.
Fixed-price NFTs are the simplest to get because all you have to do is select the token of interest and click “Buy Now.” Following the confirmation of your purchase, your brand new NFT will be accessible to see in the Binance NFT marketplace’s “Collections” tab.
Finally, you can buy mystery boxes instantaneously and at a set price. You may find them on the marketplace under the same “Collections” option, or in a Mystery Box area.
That concludes by purchasing your first play-to-earn crypto game, NFTs! Even if you don’t yet have a Binance account and are new to cryptocurrency, they made the procedure extremely quick and straightforward to follow – all because of Binance.
The NFT gaming sector is thriving and enjoying unprecedented growth, and the Binance NFT market is one of the key players driving the push.
The Binance NFT marketplace is the place to go if you want to get involved with gaming NFTs, whether you’re a crypto veteran or a total newbie. Binance has firmly solidified its spot in the business and has become one of the primary centers for many of the gaming fans out there, offering a big range of special NFTs, Mystery Boxes, and prominent gaming brand IGOs.
All of that being said, I’d want to thank you for taking the time to read this post about NFT gaming; I hope you learned something new! Choose your favorite NFTs, purchase them on Binance’s NFT marketplace, and begin playing to earn immediately.