What you should consider to invest money in an NFT game

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Tricks before investing NFT game

When it comes to NFT games, there are multiple types. Some NFT or Play to Earn games like Thetan Arena are very easy to play and others like Mir4, the NFT MMORPG are a bit more complex. Anyway, the basic concept of Play to Earn games is that they allow you to earn moneybut How can you know which game is safe to invest your money in?

Before explaining what you should consider to invest in an NFT game, we want you to be clear about what these types of games are. NFT games or also known as Play to Earn games are those that have certain elements in the blockchain. So the game items that are on the blockchain are NFTs that you can sell and get crypto for.

Anyway, here we explain better what NFTs are and why there are NFT plants in Plant vs Undead, although just as there are NFT plants in Plant vs Undead, there are multiple types of NFT items in other games. Take into account that In this type of game, NFTs can be skins, weapons, pets, cars, etc.. Also, if you have any doubts, here we explain how Play to Earn games or NFT games work.

You should keep in mind that in most NFT games you need to invest a certain amount of money to start playing them. Then, What happens if you invest your money in a game where you can’t get your investment back? For questions like the above is that it is important that you know well the Play to Earn game in which you are going to invest your money and that is why here we will explain what you should know about an NFT game before investing in it.

Does the NFT game allow you to earn tokens or NFTs?

As we have said before, there are multiple types of NFT games. In fact, some Play to Earn games allow you to earn Bitcoin, others like Plant vs Undead or Axie Infinity they allow you to earn money with their own cryptocurrencies and others directly allow you to earn NFTs.

In this sense, it is important that you know what kind of digital assets allows you to win the NFT game you want to invest your money in. Also, you should consider whether you prefer to earn money with a certain cryptocurrency or by selling the NFTs you earn in the game.

Consider before investing NFT game

How much money should you invest to start an NFT game?

Some NFT games allow you to play them without investing any money. For example, Thetan Arena has a no investment game mode and even Axie Infinity has a free version. However, NFT games in which you should not invest money are not a good option if you want to make money.

Now, investment amounts from one NFT game to another vary quite a bit. So, you should consider starting in an NFT game if the investment amount is commensurate with the capital you have available. In this sense, we recommend that you only invest in an NFT game the money that you are willing to lose. Remember that there is no security in investments.

How is the economy of the NFT game and how much money can you make in it?

NFT games do not escape scams. In fact, there are multiple developers who create scam games that just want you to invest in them and then disappear with your money, so you have to be careful.

So, it is important for you to know if the economy of the game is stable or if it constantly fluctuates. know the above will help you determine if investing in the game is “safe” or if it is a high-risk investment. In any case, you should consider that the cryptocurrency economy is usually quite volatile. However, if the price of an NFT game cryptocurrency fluctuates much more than other cryptos, you already have a red flag.

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You should also know that there are some games like Plant vs Undead or CryptoMines that seemed to have incredible economies, but in the end they crashed. The problem with Plant vs Undead and CryptoMines is that they reached a point where their players could earn so much money that when they wanted to balance their earnings, the prices of their respective cryptocurrencies fell.

Likewise, you should know that if an NFT game promises you to have extremely high profits and in a short time, it is most likely not true. In this sense, you should consider that If a game’s winnings seem too good to be true, then they are not.. Remember, it is not recommended that you invest your money in Play to Earn games that seem to have too high payouts.

Is it easy to withdraw crypto from the NFT game you want to invest your money in?

Although most Play to Earn games use the Ethereum blockchain, sometimes exchanging the cryptocurrency of each game for ETH or another currency can be a complicated process. What’s more, Sometimes it happens that the transactions to exchange cryptocurrencies take time because the blockchain is collapsed.

So, in order for you to avoid problems after investing in an NFT game, it is best to know which blockchain it is based on. Even, it is important that you know if after investing your money in this type of game you can withdraw it. Note that there have been complaints about some NFT games because after investing, their players were unable to withdraw their money.

In any case, if the game is not scam, usually the developers of the NFT games they specify in their White Papers the limitations that these games have for you to withdraw your money and in how long you can do it. Don’t worry, later we will explain what White Papers are.

Know before investing NFT game

Read the White Paper of the NFT game you want to invest your money in

The White Paper of an NFT game it is a document in which the developers of the same explain what the objective of the game is, what their problems are, how they plan to solve them, and what the rules of the game are. Furthermore, in the White Paper the developers also add a detailed description of the game.

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The White Paper fulfills a function similar to that of a contract. So if you invest money in a Play to Earn game without reading the White Paper and you have some problem that is specified in the White Paper, there is basically no point in making any claim.

How long has the NFT game you want to invest your money in been released?

Scammers often pass off their “projects” as new NFT games in order to take advantage of people. The ideal in this case is that you invest in games that are already consolidated. However, since the investment in established Play to Earn games is generally higher, you may want to consider investing in a new NFT game.

If you are going to invest in an NFT game that was recently released, it is best not to invest more money than you are willing to lose and that you know who its developers are. Remember that NFT game developers are fairly well-known companies.

Invest in an NFT game that you find entertaining

This point seems basic. However, It makes no sense for you to invest money in a game just to make money. because since you don’t find it entertaining you will end up getting bored of it. In this sense, the ideal is that you start in an NFT game that is attractive to you due to its graphics, its history or its genre. Remember that there are multiple NFT games and also multiple genres of NFT games.

It is possible that the list with everything you should consider before investing in an NFT game seems long. However, it is important that you know everything that we explain today before starting a Play to Earn game. Now, if you want a recommendation, these are the best NFT games for you to earn money, although you should still put what we teach you here into practice with them.