08/26/2023
What is web3 gaming you ask???
Web3 gaming is a process of decentralized gaming where the activities of a gaming ecosystem or a gaming platform, specifically that of the ownership of gaming assets and decision-making in all aspects of gaming, are delegated away from any central authority.
What are the benefits of Web3 gaming?
They are built on decentralized blockchains, facilitating improved transparency and security for gamers and business owners. This decentralized ownership helps gamers to earn, use, or trade their in-game assets and currencies outside the game, which is also one of the primary characteristics of Web3 games.
What does web3 gaming use for currency/value?
Primarily, Web3 games focus on play-to-earn mechanics by using cryptocurrencies and NFTs. They are based on decentralized networks like Ethereum or Solana, which guarantee verifiable ownership and give greater control to the players and their in-game items via crypto-secured gaming wallets.
What is an NFT?
NFT stands for 'non-fungible token'. Non-fungible means that something is unique and can't be replaced. NFTs are digital files. They can be a jpeg of a piece of art, real estate, or a video. Turning files into NFTs helps secure them via blockchain to make buying, selling and trading efficient, reducing fraud considerably.
How can I make money with NFTs?
One approach is to create and sell your own NFTs by minting them and listing them on marketplaces. Another option is to trade NFTs, buying low and selling high based on trends and popularity. Renting NFTs to others for use in games or niche platforms can also generate income. You can transfer the cryptocurrency funds to an exchange, sell them for fiat currency, and withdraw the cash to your bank account. In conclusion, selling an NFT involves selecting a platform, setting up a wallet, pricing your NFT (after buying or trading), creating a listing, and accepting offers.
**NOTE: NONE OF THIS IS FINACIAL ADVICE**
Are NFTs safe?
Purchasing an NFT from a reputable marketplace is generally considered safe because NFTs are stored in crypto wallets and rely on blockchain technology. However, buyers and owners of NFTs still need to consider several potential security risks. The two biggest threats are phishing attacks and malware infections. Also, there is a risk of NFTs giving you a low return on your investment. ITS UP TO YOU TO DO YOUR RESEARCH!!!!
There's so much to deal with at times with NFTs, so I made this page so you can ride along with me and see for yourself, how much was made by me and hear my thoughts about the decisions that will either lengthen or shorten this trip.
Strap in, and saddle up!! and on your way out please check out my other social media streams! Each have their own purpose so check them out!! Thanks!!
