- GameFi and play-to-earn (P2E) protocols have since their emergence in 2021 offered gamers the ability to have fun and make money in the process.
- However, the sector has also been affected by the recent market struggle as the tokens of most popular games including Infinity (AXS) keep plummeting.
The crypto market has been struggling over the past few months. Some experts have advised that this is the best time to buy. However, the rising inflation has rubbed off much of the purchasing power of fiat currencies. Regardless, crypto investors have explored ways to accumulate assets in preparation for the next bull run. In this article, we will look at four ways crypto enthusiasts are increasing the size of their portfolio without spending much.
GameFi and Play-to-Earn
GameFi and the play-to-earn (P2E) protocols have since their emergence in 2021 offered gamers the ability to have fun and make money in the process. In this period of market bear-run, crypto fans are taking advantage of this venture in their numbers to increase the size of their portfolio. However, the sector has also been affected by the recent market struggle as the tokens of most popular games including Infinity (AXS) keep plummeting.
Despite GameFi and P2E protocols being a perfect avenue for those who want to increase their crypto holdings without breaking the bank, some games require an upfront investment which could be a big setback to those who do not want to spend. Yield Guild Games and Merit Circle offer, however, provides a solution to this by offering the option for users to either borrow or rent the required asset. This will be in exchange for a small commission that will be deducted from their game earnings.
Staking is known to be helping with transaction validation and network security. In addition, it helps smart contracts reduce the total available circulating supply which increases the price of an asset. It is important to note that staking is one of the most popular ways people explore to earn crypto. Its popularity stems from the fact that most of the Proof of Stake networks provide a fair yield for locking up coins. Users need to consider projects that have a track record, healthy trading volume, and active community for this venture.
Most crypto platforms including exchanges and newly launched decentralized finance protocols that want more users and liquidity offer referral bonuses to people who direct others to sign up and use their services. This is one of the oldest ways to make money in cryptos, however, it is important to do due diligence to avoid directing others to scam or rug pull.
In order to maximize marketing and bring more users onto their platform, most crypto projects engage air-dropping programs. It is, however, important to note that most of these airdropped tokens have little to no value, but with time, they could be worth a lot in any future bull run. Optimism (OP) and Evmos (EVMOS) airdrops are some of the campaigns that were recently run. Beneficiaries have the option to sell them for stablecoins or their preferred crypto, or they can hold them for the future.
One other notable mention is “Crypto side gigs”. Many crypto fans are providing services online or exchanging their skills for crypto payments.