They provide an easy way for creators to create and monetize properties and for others to buy and use those properties. Obviously some of the above will fail and new games will enter, but the proof of concept is pretty compelling NFT are a perfect fit for decentralized virtual worlds. Axie Infinity is already generating full-time incomes for people in the Philippines with transactions generating $125K-$250K a day. Each creature has a set of over 500 attributes so all are unique and different and can be bred to make even more combinations. Players own, trade, grow and battle cute animated creatures with specific powers. Axie Infinity - think of this as a digital combination of Pokemon and Crypto Kitties.Other people are buying up land in popular areas and renting it to brands to make a profit. Prime spots of land are selling for millions of dollars.
So far, one person managing these decentraland experiences is making over $1000 a week. People are buying spaces, building experiences (like haunted houses) and charging crypto to enter. Every piece of land or property is an NFT that you can buy and sell. Think of it as a Second Life or 3D viewing space connected with crypto. Decentraland property - Decentraland is a blockchain based virtual world.Most horses sell for at least $200 and transactions using the NFT are currently $50-$100K a day and growing quickly. Top horses have made around 5-10ETH ($10-$20K) in the last 30 days and can sell for 3X that value. Horse owners can also mate male and female horses to produce and either race or sell offspring. Horse owners can pay money (currently $5-$250) to enter their horses into multiple races of 12 horses where they can win a 700% return if they win the race (300% for second and 100% for third). All the horses have different traits, colors and bloodlines that indicate different behaviors. Horses can breed and offspring carry some traits of their parents using a genetic algorithm. Zed horses are NFTs that have their own hidden DNA that gives them abilities to race fast or slow over certain distances and surface conditions. Zed.run - Buy, Sell, Race and breed digital racehorse NFTs.Since then we’ve seen a ton of digital games emerging that offer a chance to make money on using NFTs you own. Crypto Kitties started this in 2017 with the ability to buy two kitties, breed them and then sell the offspring. We are seeing our first successes in revenue-producing NFT assets via virtual worlds and games. NFTs also can provide functional utility by producing a constant revenue stream. In previous posts I have talked about how NFTs provide social and emotional benefits for collectibles as well as access.
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