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Play to Earn Games - Feed your snake and earn money!

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Starting in 2020, the concept of GameFi is gaining popularity. This idea combines DeFi technologies and gamification. Thus, the players' attention and time spent in the game is converted into the value of a digital token that can be exchanged for cryptocurrencies. Let's take a look at how it works using the example of one of the top NFT games — Cryptosnake. This is a play to earn game based on the classic snake game.

Create a snake. This snake is your NFT.


Feed the snake. Bricks are cryptocurrencies. The more you eat, the more expensive your pet becomes. Use bonuses and cheat tokens. They Improve the characteristics of the snake. Bonuses can be bought on the marketplace or earned as a reward. The larger your snake is, the more effective it is. You can get additional profitability bonuses for snake size, regular visits, and so on. The virtual snake becomes a financial instrument that brings passive income. You can invest in it to earn even more (just like investing in renovating an apartment to rent it out).

So we have a new economic model for the game. Your time and attention is converted into profit for you, not just for the game studio, as it always has been. Players create liquidity. The higher the liquidity, the higher the price of the token. The choice of a game can be regarded as the choice of a cryptocurrency for an investment.

NFTs are gradually accumulating. The snake becomes more expensive and more expensive over time. At the end, the player can decide to stop playing and break the snake. So, a non-fungible snake is automatically converted into SNAKE tokens. You can exchange these tokens for cryptocurrency, or save them to exchange them for a higher price later. Cryptosnake is just an example. Many crypto games work in the same way.

By the way, you can start receiving tokens even before starting the game.

For example, the launch of Cryptosnake is scheduled for October 2021, but you can already earn tokens by participating in the development of the community. Find out more about this in the official resources: Write in the comments what you think. Have you had any experience with NFT farming? Share your results.

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Posts: 3
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Joined: 1 month ago

Looks like the snake is regaining it`s fame again. 😀  

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