This is what I have always dreamed about since I was a kid: Getting paid for playing games. With Play-to-Earn blockchain games this dream has already become reality.
As always in life, it is beneficial to be one of the first. This is also the case when it comes to blockchain Play-to-Earn games.
A secure and easy way to get your hands on newly issued Play-to-Earn gaming NFTs is by participating in an Initial Game Offering (IGO) on the Binance NFT Marketplace. This is exactly what this post is about.
What are play-to-earn games and how do they work?
Play-to-earn blockchain games enable players to generate an income stream simply through playing a game. NFTs are playing a crucial role in these play-to-earn blockchain games as players really own the game items of the game in the form of an NFT. You can say that NFTs are literally disrupting the traditional gaming industry.
Typically, a player of a play-to-earn game is rewarded with the game's native cryptocurrency and occasionally with an in-game item in the form of an NFT. The more and the longer you play the game, the more you can earn. The game's native cryptocurrency is frequently needed as a part of the game's crafting process.
While the native cryptocurrency can usually be earned steadily by playing the game, the drops of NFT game items are more chance-based. The NFT items also vary in their worth which is based on different factors like their cosmetics, their rarity, or their utility in the respective game.
Two of the most well-known play-to-earn blockchain games are for example Axie Infinity and Alien Worlds. Of course, how much you will earn by playing a blockchain game depends on the specific mechanics of the game as well as on the market demand. Here it can be beneficial to be among the first players of the game. That's a factor that makes Initial Game Offerings (IGOs) really interesting because you can be among the first players of the game before it takes off and the market demand increases.
How You Can Buy Play-to-Earn Gaming NFTs in IGOs on Binance
In an Initial Game Offering, you can acquire NFT in-game items from top-tier blockchain games. These NFTs that are sold in the IGOs are available exclusively on the Binance NFT Marketplace. All IGOs will have a dedicated landing page with information about the game. From here you can start doing your own research. 🤓
IGOs are purely for blockchain gaming and all NFTs will consist of in-game assets such as early-access passes, weapons, and much more.
The IGO NFTs can launch in three different ways: either via an auction, via a fixed price, or via mystery boxes.
Buying NFTs on the Binance NFT Marketplace is easy and the fees are low. Of course, you need to be a registered user on Binance as the Binance NFT Marketplace is a part of the bigger Binance ecosystem. You will also need to have some crypto in your Binance spot wallet.
You can access the Binance NFT Marketplace with your Binance Login data on the mobile app or on your desktop browser. Both options work fine. When you use the mobile app, simply press the More button. Then press on Binance NFT, which you can find under the trading section. When you are using your browser, either go to Binance and click on NFT on the top of the homepage or simply visit https://www.binance.com/en/nft.
There are three different ways to buy an NFT on the Binance NFT Marketplace. This also includes the NFTs that you find in IGOs. You can either buy them via an Auction, a Fixed Price, or a Mystery Box.
Buy an NFT in an Auction
Click the Place a Bid button on the NFT listing page.
Now enter your bid amount. Note that there is a minimum amount you need to bid in order to increase the last bid to place your new bid.
After you have successfully placed your bid, you will see a confirmation pop-up.
The highest bidder at the end of the auction has successfully bought the NFT.
Keep in mind that you can not cancel your bid once you placed it. Your funds from the bid will be locked until a higher bid is placed or until the auction has ended.
Buy an NFT at a fixed price
Buying at a fixed price is even easier. Click the Buy Now button on the NFT listing page. A pop-up window will appear that shows the confirmed amount to pay for.
Click the Confirm button to complete your purchase by paying the fixed price.
After your successful payment, another pop-up window will appear that states that your purchase has been successful.
When you click on the Collections button in the pop-up window, you can view your new NFT.
Buy an NFT Mystery Box
If you have purchased a Mystery Box then you can either open your mystery box right away or you can simply keep your Mystery Box as it is in your NFT collection. If you want to open your Mystery Box, simply do this:
Click on the Mystery Box you want to open. You find your purchased Mystery Boxes in the User Center under Mystery Boxes -> Collections.
On the Mystery Box's product page click on the Click to Reveal button first and then click the Open Box button.
Now you will be able to see what NFTs you have received from your Mystery Box. You can find the unboxed NFTs in your Mystery Box collection in the User Center under Mystery Boxes -> Collections.
Withdraw Your NFTs And Use Them In The Game
Of course, you can also withdraw your NFT game items from the Binance NFT Marketplace directly to your own wallet to use them in the respective blockchain game. This is also easy to do. Please keep in mind, that only NFTs can be withdrawn and not unopened Mystery Boxes.
If you want to withdraw an NFT, go to the User Center and click the Withdraw button. Select the NFT that you like to withdraw and confirm.
After you have selected the NFT that you want to withdraw, the system will automatically display the corresponding network that the asset is kept on. At the moment, this network can either be the Ethereum blockchain or the Binance Smart Chain. These are the two networks that are currently supported on the Binance NFT Marketplace.
The withdrawal fees are depending on the network as well as on the current network status.
Type in the address of the wallet that you want to withdraw to. If your wallet isn't connected, simply click the Add Wallet button and connect your wallet. You can connect via MetaMask or via WalletConnect.
Check again carefully the network and the destination wallet address. Now click the Confirm button to initiate the withdrawal.
You can find the NFTs that you have withdrawn under History -> Deposits & Withdrawals. There you can also check the current status of your NFT withdrawal.
Once you hold the NFT in your own wallet, you can connect your wallet to the respective game to use your NFT directly in the blockchain game.
My Final Words
The Binance NFT Marketplace is offering exclusive and core in-game NFT items by a wide range of gaming projects to users via IGOs and NFT drops.
Additionally, the Binance NFT Marketplace is easy to use, it supports multiple networks and the fees are low. I believe that in this way the Binance NFT Marketplace is building the future of blockchain and play-to-earn gaming.
If you are not registered on Binance yet, you can use my referral link with the invitation code E3PGAJCE for signing up. When you use it, it will save you trading fees each time you perform a trade on Binance. Don't forget about this possibility when you introduce a friend to cryptocurrency as it will save both of you some money.
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