Play to earn games are more than just buzzword. They are here to stay. Crypto games that pay for your time spent playing them are good way to start making money online. Some of the best play to earn crypto games are based on the hive blockchain. In todays post I am going to concentrate on the p2e (short for play to earn) crypto games on hive and it is not only about what games you can play but on what you can do with your earnings.
GAMEFI is a thing. Of course you can just start out stacking the crypto you make from your gaming and wait for the coins to go to the moon. But while you do that you are missing out on plenty of opportunities. You can easily put your crypto to work to help you earn interest on your play to earn income.
Before we head into the various ways to put your crypto to work I have to do this:
DISCLAIMER! I am not a financial expert! Always do your own research before investing your money. Non of this shall be considered as any form of financial or investing advice. Crypto games and the coins related to them are highly volatile and you expose yourself to the risk of losing your money! Only invest what you can afford to lose. The Content is for informational purposes only! Always do your own research before investing into any asset. Always comply with local laws and regulations. I will not be held accountable for any losses you may occur.
I will guide you through my process of putting my crypto I earned with playing games to work so they can make me a passive or semi-passive income. There might be better ways to do it and maybe I am not even using my play to earn income to its full potential, so if you think there is better ways you can let me know in the comments. As always DYOR!
Splinterlands
If you do not know Splinterlands and have not played it yet you either are completely new to play to earn or you have been living under a rock. With more than 300000 daily active users it is one of the leading play to earn crypto games out there.
Want to play? CLICK HERE TO SIGN UP FOR FREE If you like it you can pay 10$ to purchase a spellbook which will unlock the play to earn and reward features.
What tokens do you get in Splinterlands and how can you put them to work?
The Splinterlands economy has several assets that can be bought earned or traded on 3rd party markets and on decentralized exchanges like hive engine or tribaldex.
Since we are talking about how you can put your assets to use and earn more I will just assume you know which tokens can be earned and concentrate on how I use them.
Renting out your collection
If you own enough Splinterlands NFTs you can rent them out to other players to earn DEC. Rental prices do vary from the beginning to the end of the season so you might want to check in on those. The best tool to handle your rentals is the 3rd party market called peakmonsters.com.
source
You can simply log in with your keychain extension and manage your entire collection and filter your cards. Select the cards you want to rent out and click on RENT.
You can either set your price manually or you can just go and load the cheapest market price and rent them out for that.
When you look at your collection on peakmonsters you will see how many of your rental cards are rented out and your daily income as well. In the top row you see revenue from rentals and your yearly ROA (return on asset)
This is a semi passive income from your cards since you will have to do a certain amount of maintainance.
SPS airdrop
There is still a good two and a half months of the Splintershards airdrop. $SPS is the governance token on Splinterlands and every account that holds Splinterlands assets like NFTs or DEC is counted into the daily airdrop. You can see your airdrop points on the SPS management page on the official Splinterlands website. Each day for the next 85 days a snapshot is taken and accounts can claim their daily drop. This of course is also semi passive since you have to claim your dropped Splintershards balance manually.
The passive side of this happens if you stake your SPS. Careful, if you stake your SPS they will be locked in a contract and unstaking will take 28 days with 25% of the unstaked balance released every 7 days. Currently the staked SPS makes a nice 24% APR and you can claim your revenue as often as you want. If you are more active you will be able to compound your earnings and pump your revenue up a bit. I try to claim this as often as I can since every new SPS staked will also increase your earnings. Never underestimate the benefits of compounding interest!
Staked SPS will continue to earn APR although the % rate will go down over time. Still it is one of the most passive ways to make your earnings work for you. A little thought experiment let's say I keep staking only once a month for the next 5 years and let's be pessimistic and say the APR will be only 8% from tomorrow on. This would leave me with approx. 92000 SPS at the end of 5 years. Which is almost 50% more than I have now. You can keep tweaking these numbers as you like with this calculator if you increase the timeframe to 10 years and compound once daily my 62872 SPS will be over 130k SPS and keep in mind that I calculated with 8% the current APR is still over 20%!
Don't mind the dollar value and just put $SPS in front of the numbers!
You can increase your airdrop points for SPS if you buy more cards to increase your collection power, buy more packs, totems, land etc.
You can earn SPT the official splintertalk token by blogging about your gaming experience and get 0.25 airdrop points for each SPT!
You can also increase your airdrop points by buying and holding DEC or by participating in the various liquidity pools provided for DEC.
This brings us to the next way you can earn on your Splinterlands earnings.
Providing liquidity in DEC liquidity pools
Warning liquidity pools bare the risk of impermanent loss when the paired assets change in their price value. Be aware of this risk and act accordingly! DYOR NFA as stated in the Disclaimer. If you have not read it scroll up and read it!
For demonstrating purposes I will show you the LPs on tribaldex.com but you can also reach the same pools via beeswap and several other services.
You can see that my LP positions earns approximately 0.0009 BEE per day that is not that much but you will also earn a portion of the fees when someone swaps HIVE for DEC or vice versa.
There is more than one dieselpool where you can earn rewards for participating. You can see them HERE
The pools paying rewards for participating are SWAP.HIVE:DEC, DEC:SPS, BEE:DEC and PIZZA:DEC But all of the pools where you can put your DEC in will give you double the amount of airdrop points!
Staking SPS will also give you another reward we have not talked about yet and that will continue even after the airdrop has ended. Yes I am talking VOUCHERS currently about every 18k SPS will drop you 1 VOUCHER daily. Vouchers are traded on the dex for about 2 HIVE per VOUCHER. This is absolutely passive and you do not have to do anything just keep your SPS staked.
Vouchers can be used for discounts on pack purchases and will also play a role in discounts for the upcoming SPS validator license sale.
You see there is many things you can do with your Splinterlands assets to make some extra cash on the side. Some need a little more of your time and some are completely passive.
Lets hop on to the next game and see what we can do with STARBITS
Rising Star
Rising Star is a gem on the hive blockchain and currently the only play to earn game that can be played without any initial investment. It is a game that you can easily play while you are working since it takes very little of your time and in addition to that you can listen to great music by independent artists.
You can sign up to Rising Star by clicking here --> RS
You will earn STARBITS and if you earned them there is several ways how you can put them to work.
Record staking
Many of the players who play the Rising Star play to earn game don't know this. You can reach the record staking menu as seen on the screenshot by clicking on cards and choosing the record staking option.
You can stake your earnings by portions of 1k Starbits and each time one of the records gets purchased you will earn a portion of the rewards allocated to that NFT. This of course is not a get rich quick way of doing things but it will over time make you a decent passive income on the side. It is very low maintenance and an easy way of earning some extra STARBITS on the side.
Providing liquidity in the STARBITS:PIZZA liquidity pool
For this you will need your STARBITS withdrawn to your hive engine wallet. You can easily do that by clicking on withdraw deposit as shown on the screenshot.
The minimum withdrawal amount is 1k Starbits.
You can see that the LP for PIZZA:STARBITS also has LP rewards
You will receive PIZZA and STARBITS as a reward and that means you can add them to your LP position over time and grow your share to earn more rewards from the pool. Also each time someone swaps PIZZA for STARBITS or vice versa you will also earn a portion of the fees according to your shares.
Let me guide you through the process of adding liquidity to this pool on tribaldex:
First you need to make sure that you are holding both tokens PIZZA and STARBITS since you need to add them in an equal share to the pool.
Click on Pools and then on add liquidity as shown on the screenshot.
Select the PIZZA:STARBITS pool in the drop down menu and set the amount you want to add. I will use 5 PIZZA so i just type that in the field and the UI will give you the exact amount of STARBITS to pair it with. Than you just click on Add Liquidity underneath and confirm the transaction.
If you did everything right you should see this green message after a few seconds.
You can check your liquidity position by going to "your positions" in the pools tab.
You can see that with a position of 50k STARBITS and 500 PIZZA you will make a few cents daily on the side in LP rewards.
Hashkings
Hashkings is a play to earn farming game and you can participate in this game buy either farming BUDS tokens or by farming SEED NFTs or by producing HKWATER with the help of water tower NFTs. You can also do this all at once.
When you farm BUDS you need land NFTs and SEED NFTs which you can plant into your plots of land. You then need to water your plants by using HKWATER. After a certain time you can farm your BUDS and this is where you can make some passive income by staking these BUDS into a staking pool.
I will show you how its done.
Click on the little green arrow and you will see a menu pop up afterwards you click on STAKING
A new tab will open up taking you to the staking menu.
When you click on STAKE a pop up will appear and you can add your BUDS to the pool. You will receive a token called BUDSX which can be compared with the xPOLYCUB token. The ratio of BUDS:BUDSX is a forever number go up ratio. Meaning you will get more BUDS back then you initially staked. The longer you leave your BUDS in there the more you will get back.
Alternatively you can just buy the BUDSX token on any of the hive engine decentralized exchanges. This will give you a staked BUDS balance where you can just wait to get more.
WARNING if you sell your BUDSX tokens you will not receive your BUDS back! The account who buys your BUDSX will have the staked balance on their account!
The APR for BUDS staking is one which is really nice. Currently according to this article by the official HASHKINGS account
As you already know, the initial rewards for the staking are BUDS that are bought directly from the market (so isn't inflationary).
TOTAL HIVE IN REWARDS: 4,781.619 HIVE
NEXT STAKING REWARDS: 216072.86364905 BUDS BUDS
TOTAL BUDS STAKED: 48684354.028 BUDS
APR IN BUDS BASED IN THE LAST REWARD: 162% APR
APY: 403.5%
Formula for APR = ((NEXT BUDS REWARDS / TOTAL BUDS STAKED) * 100 ) * 365
We can proudly say we have the highest non-inflationary staking APR and APY in HIVE
As always do your own research, but these are some pretty amazing numbers right there.
This is all way too risky! Gimme something safe!
Well there is a nice way to use your earnings from any game on hive. Or basically any play to earn crypto game out there.
Just convert your earnings to HBD! The Hive Bound Dollar will always give you 1$ worth of hive at any given time. If you put your HBD into savings it will defined by the hive witnesses give you 20% APR which is amazing for a stable coin. If you want to know more about HBD go ahead and check for the many many posts about HBD written on Leofinance.io.
Here is one written by Taskmaster4450 and another one by cryptoandcoffee
I hope they don't mind me putting them out here in the open but I like to read both of them.
So just simply exchange any token you earn in your play to earn adventures and put them into a stable coin paying 20% APR I talked about the power of compounding interest already and 20% is truly outstanding. Especially since you can claim your interest every 30 days which makes compounding even better.
You will not get such returns on a stable currency anywhere in the real world. You will have to take some serioous risk to achieve a 20% return on the dollar.
I hope you found this post informative and I could give you some new insights. What do you do with your play to earn income? Let me know in the comments!
LET'S CONNECT!
I would really find it helpful if you get into the discussion. You can find me on most of the hive discord channels and you can also contact me via my website https://gaming4co.in/ or 🆒🎮💰🆓.y.at just copy paste these emojis and the .y.at and see where it takes you ;)
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