The idea of making money without doing anything from Play-to-Earn (P2E) games is appealing. But what if you don’t want to play for hours on end? I’m looking into ways to make money in Web3 gaming without actually playing, focusing on NFT rentals, scholarships, and other new ideas. It matters that you own the assets, not that you use them right away.
What Play-to-Earn (P2E) and Web3 Gaming Are
Players of P2E games get cryptocurrencies or NFTs as rewards for their time and effort. You can then trade these rewards on marketplaces for money in the real world. Web3 games use blockchain technology to give players real ownership of in-game items, which opens up new ways to make money without doing anything.
The Key: Owning Things, Not Always Playing
The main idea is to get valuable NFTs in the game (like characters, land, and items) and then use them to make money without actually playing the game.
Ways to make money in Web3 gaming without playing:
1) NFT Rentals: Letting other players rent your valuable in-game NFTs so they can use them in the game. (Think of it like renting out a house.)
– How it Works: You put your NFT up for rent on a marketplace that allows it. Players pay you a fee to rent the NFT for a certain amount of time.
– Pros: Passive income that doesn’t require much work and the chance of high returns (depending on the value of the NFT).
– Cons: There aren’t many rental platforms, NFTs can get damaged or lost, rental demand can change, and there is a risk with smart contracts.- For example, renting out Axies in Axie Infinity (if the game allowed it; right now, rentals aren’t fully supported, but scholarships are similar).
2) Scholarships (Guild Management): You can lend your NFTs to scholars who play the game for you and give you a portion of their earnings. (Think of it as hiring someone to do it for you.)
– How it Works: You give a scholar an NFT. They play the game, get rewards, and share the money with you (for example, a 50/50 or 60/40 split).
– Pros: More money can be made than with rentals; it builds a community.
– Cons: Needs active management (recruiting, training, and keeping an eye on scholars), trust is needed (scholars could cheat or steal), and there is a chance of disagreements.
– For example, Axie Infinity scholarships.
3) Owning and developing land: Buying virtual land in metaverse games and building on it to make money. Think of it as virtual property.
– How it Works: You buy land NFTs and then build things on them, host events, or make experiences to improve them. You can then charge rent, admission fees, or space for ads.
– Pros: The chance to make a lot of money and the chance to invest for a long time.
– Cons: High initial investment, needs development skills, demand for virtual land is uncertain, and the game’s success is very important.
– For example, owning land in The Sandbox or Decentraland.
4) Putting money into gaming guilds: Putting money into gaming guilds that manage big pools of P2E assets and make money through gameplay and other activities. (You could think of it as putting money into a fund that plays games.)
– How it works: You buy a token from a gaming guild. The guild uses the money to buy NFTs, hire scholars, and make money. You get a share of the profits based on how many tokens you own.
– Pros: You can play a lot of different games, you can make money without doing anything, and the management is professional.
– Cons: You have to do research on the guild’s team and strategy, there is a chance that the guild will be poorly managed, and the value of guild tokens can change.
– Giving Gaming Token Pools Liquidity: Giving liquidity to decentralized exchanges (DEXs) that let people trade gaming tokens.
– How it Works: You put tokens into a liquidity pool and get a share of the fees that the pool makes from trading.
– Pros: It could make a lot of money and helps the gaming ecosystem.
– Cons: The risk of losing money that isn’t permanent and the fact that gaming tokens can change quickly.
Picking the Right Game and NFTs:
– Research: Look into the game’s mechanics, economy, and community in depth.
– Demand: Figure out how much people want in-game items and how much they might be able to rent or give away.
– Team: Look at the game’s development team and their history.
– Sustainability: Think about how long the game’s economy will last.
– Risk Tolerance: Be aware of the risks that come with each game and NFT.
NFT Rental and Scholarship Platforms:
– Yield Guild Games (YGG): A gaming guild that is not controlled by a single person and gives out scholarships and manages P2E assets.
– GuildFi is a Web3 infrastructure provider that makes tools for guilds and P2E games.
– NiftyLink is a place where you can rent out NFTs.
– (Keep in mind that the landscape is always changing, so look into new platforms.)
Things to think about:
– Decline in Game Popularity: If the game becomes less popular, the value of your NFTs could drop.
– Changes to gameplay: The people who made the game could change the rules in a way that makes it harder for you to make money with your NFTs.
– Risks to security: NFTs can be hacked and stolen.
– Uncertainty about the rules: The rules and laws for P2E games are still changing.
– Scams and Rug Pulls: Watch out for scam projects and rug pulls.
The Verdict: Possible, but not guaranteed Passive
You can make money in Web3 gaming without playing by renting out NFTs, getting scholarships, owning land, and other ways. Still, it’s important to know the risks and do your homework before you invest. You can’t expect to make money with these strategies without doing some work to manage and keep an eye on them. Pick games that are known to be good, keep an eye on your risk, and be ready for the ups and downs of the Web3 gaming market.
