In this lecture, we will talk about nft flipping, earnings on crypto games (earn-to-play), earn-to-go, earn-to-learn and other types of earnings
Earnings on nft
We see people buying and exchanging NFTs to make huge profits in the long run. With the growing popularity of NFTs, many enthusiasts have taken to using NFT reselling as a trading strategy.
Flippers are people who often buy some kind of asset and sell it quickly, thus earning or not earning, as they are lucky.
The idea is very simple — buy cheaper (often at the time of generation of NFT — mint, or from the market), sell more expensive
Before flipping a project, it is worth analyzing it.
Here it is worth understanding whether:
Demand for this NFT collection
We get an opinion about the project
Watching announcements
Analyzing the team
It should be noted that in order to make money in this market, you need to be 100% immersed in it. In any other case, this is no longer a matter of earnings, but of luck.
earnings on cryptogames (earn-to-play)
Over the past year, crypto games have become one of the most popular and fastest growing areas in the cryptocurrency market.
The Play-to-Earn (P2E) model is a new class of blockchain games that allows you to earn money while playing. The player earns tokens listed on the cryptocurrency exchange by completing tasks or purchasing game elements.
Moreover, the longer the game lasts, the more tokens the gamer will receive. Such crypto games allow players to earn money by staking, farming in-game currency or selling character tokens.
The algorithm of earning on cryptogames is reduced to the following stages:
User registration on the cryptocurrency platform, creation of a wallet.
Purchasing project tokens with real money.
Exchange of tokens for a game character or game land or other elements necessary in the game
Farm — completing quests, training, purchasing accessories (and receiving project tokens for this)
Selling a character with artifacts on the exchange to another gamer for tokens.
The earning algorithm is extremely simple, however, crypto games carry certain risks for the user.
Among the risks in Play-to-earn games are the following:
Loss of NFT — cryptoscam, theft of tokens from a user’s wallet, sending a token to a wallet that does not support the NFT standard.
Spontaneous volatility — a sharp drop in the price of tokens during the game will lead to the loss of the gamer’s money.
Earnings on crypto games in 2022 are quite real. However, without additional investments, you will not be able to earn large sums. The main principle of making money on crypto games is to sell the cryptocurrency on time and have time to withdraw funds before the cryptocurrency rate falls. To do this, analyze the market and follow platform updates.
Another emerging trend is looking to take the cryptocurrency market by storm. It’s called Move-to-Earn (M2E)
M2E projects tokenize physical activity or exercise using NFTs and a device that can track movement (such as a smartphone or a wearable device such as a smartwatch or fitness tracker).
Thus, users can earn cryptocurrency or NFTs (or a combination of both) depending on how much they exercise or how many fitness-related goals and tasks they complete.
In many cases, Move-to-Earn users have to buy or rent NFTs (such as tokenized running shoes) to enable them to generate income. Many of these assets have limited earning potential and owning or upgrading them allows owners to maximize their income.
Simply put, although this model is similar to Play-to-Earn, Move-to-Earn aims to encourage users to exercise more and lead a healthier lifestyle by offering them rewards for running, walking and participating in various sports.
Many Move-to-Earn crypto projects are free and do not require any upfront investment. Instead, users are rewarded with cash for walking, cycling, or other sports.
The more activity, the more money you can earn. It’s a simple concept and there are more projects in this area than you might think.
For example, instead of sitting in a chair or lying in bed all day, people should move more to improve their health. Paying people to be active is one way to encourage them to lead a healthy lifestyle.
Rewards often range from reduced premiums and purchase vouchers to real cash payments.
Whether you’re a fitness enthusiast or just looking to get in shape, Move-to-Earn apps are the perfect solution for you to earn money just by doing what you’re already doing. However, many M2E crypto applications require quite a significant upfront investment, which is of course a disadvantage. But there are those that do not require any initial investment. However, their earnings are very small.
After the Play-to-earn and Move-to-earn crypto projects demonstrated high efficiency, a new direction appeared — Learn-to-earn
The Learn-to-Earn mechanics may seem to be of the same order, however, there is an important difference here.
The name Learn-to-earn can be interpreted as «learn and earn». This idea implies that the student receives knowledge and pumps his own skills. Teachers or algorithms then evaluate progress and reward the student’s efforts.
What are the directions in Learn-to-earn:
a real increase in the level of human knowledge — participation in the study of languages, sciences and other branches of knowledge;
Increasing awareness of cryptocurrencies — Cryptocurrency exchanges and token creators are ready to send part of the coins to beginners who are just trying to master blockchain technologies. This approach allows you to get first-hand knowledge;
other areas — the sphere was released quite recently (2021-2022), so the brightest training programs are yet to come.
How it works?
You study scientific theory, watch educational videos or read articles. Then the student is given the task of passing a test or passing an exam. If the learning goal is achieved, then the «crypto student» receives a certain amount of coins to his account.
This game has two winners:
student — gets new skills and earnings in cryptocurrency.
owner — projects allow you to advertise new coins and blockchains, attract new users.
The duration of the classes and the amount of remuneration vary depending on the project. Usually a user can earn a few dollars for 20-30 minutes of training.
Tuition-paying services are just getting started. They really allow you to earn hundreds of dollars, but for a long time — you will have to study for several months. It’s more like a game to pass the time.
But if you approach it wisely, you can get a promising cryptocurrency and NFT, which in a few years may take off. Therefore, early participation in any cryptocurrency project could probably lead to profit in the future.
There are also other, more advanced ways to make money with cryptocurrencies (such as participating in crowdloans or sniping tokens on TGE), but the technical knowledge required to participate in these opportunities is far beyond the beginner’s course.
It should also be noted that for serious earnings in the topics mentioned in this lecture, most often you need special software, as well as simultaneous work with several accounts, which can also be problematic for beginner crypto enthusiasts.