What should you know before investing in NFT games?
NFT games have become a source of income for some Venezuelans. However, there are some considerations that must be taken into account before investing in the options that are in the market.
The NFT ecosystem, one of the fastest growing niches is that of blockchain-based games, it offers users the possibility of earning money through simple tasks and little availability of time.
However, due to the risks of the economy in the digital world, at El Diario we have prepared a list of keys on NFT games and their investment opportunities, taking into account their risks.
What are NFT games?
NFT games are traditional online video games, now based on blockchain technology.
Non-fungible tokens, then, are a digital property with a certain value.
All the profits that are obtained on these platforms, and that are deposited in a digital wallet, can be exchanged for cryptocurrencies such as BNB or Ethereum in swaps (exchange websites) to finally obtain real money.
What should you know before entering a game?
Before investing, it is advisable to carry out a good preliminary investigation, not only based on forums and communities, but also to analyze the market to find the game that best suits the investment capital and time.
Another element, one of the most important, is the time to join a project of this type. It is transcendental to take into account how this affects the risk/gain ratio.
When a game is in the launch stage, the investment is minimal, the profit can be large in a short time due to fomo (everyone wants to buy the token), but the risk is greater, since the value of the asset can plummet in a matter of minutes if it is unknown when it will be possible to start playing.
On the other hand, an already established game demands a greater investment and the ROI return on investment time, can reach six months in the case of more consolidated projects; although there are other projects that promise returns on investment in 15 days, usually have a shorter useful life (three months in many cases).
The attractiveness of this type of investment is that after recovering the investment, the money that is achieved in the game is clearly profit and capital to diversify the income in other similar projects.
Another important aspect to take into account as investors when choosing the NFT game is the type of Gameplay to earn tokens.
In farming games, as the name suggests, the player must cultivate, combine and collect objects that, due to their complexity, acquire an increasingly higher value and can then be exchanged for real money.
In the collection or staking games , the player acquires objects, cards, characters or more tokens just for holding ( that is, not withdrawing) their initial investment.
You can also invest in NFT games without having to spend hours in front of the computer. The way is to do it through trading (buy low and sell high) or holding the native token of the NFT Game, without any need to play.
“Note: Hire the best NFT Consultant to develop your NFT project.”
What are the main risks when investing in NFTs?
There are several aspects to take into account before entering a game on any platform.
The main considerations are the volatility of the token market that leads to a drop in its value and the large number of scammers (fraudsters) and hackers that coexist within the community.
It is important to take precautions regarding the security of the accounts that are created in the game. Also, it should be noted that no platform asks for personal account data or wallet seed phrases like Metamask. If someone requests it, they are a scammer.