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What Is Play-to-Earn and How to Cash Out?

Play-to-earn games allow users to farm or collect crypto and NFTs that can be sold on the market. By playing the game regularly, each player can earn more items or tokens to sell and generate an income. Some players have even begun to supplement or replace their salaries playing these blockchain games. However, such activity […]

Instructor Gergő Várhegyi
Updated March 23, 2022

About Course

Play-to-earn games allow users to farm or collect crypto and NFTs that can be sold on the market. By playing the game regularly, each player can earn more items or tokens to sell and generate an income. Some players have even begun to supplement or replace their salaries playing these blockchain games. However, such activity involves risk, as you typically need to put up an initial investment to purchase characters and items to play the game.

Blockchain helps guarantee the collectibility of these items and create working digital economies. Blockchain technology and NFTs allowed for the creation of digital items that are impossible to duplicate. This created the concept of digital scarcity.

To cash out, you’ll need to deposit your NFTs or crypto to an NFT marketplace or exchange like Binance. It’s unlikely you’ll be able to convert straight into fiat, so selling for a stablecoin first is a good idea.

Once you’ve sold your NFT or tokens, you can then convert the stablecoin into the fiat of your choice and withdraw using the available channels in your country. Another option is to use the stablecoin with a crypto card like the Binance Visa Card.

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Course Content

What Is Play-to-Earn and How to Cash Out?
Play-to-earn games allow users to farm or collect crypto and NFTs that can be sold on the market. By playing the game regularly, each player can earn more items or tokens to sell and generate an income. Some players have even begun to supplement or replace their salaries playing these blockchain games. However, such activity involves risk, as you typically need to put up an initial investment to purchase characters and items to play the game. Blockchain helps guarantee the collectibility of these items and create working digital economies. Blockchain technology and NFTs allowed for the creation of digital items that are impossible to duplicate. This created the concept of digital scarcity. To cash out, you'll need to deposit your NFTs or crypto to an NFT marketplace or exchange like Binance. It's unlikely you'll be able to convert straight into fiat, so selling for a stablecoin first is a good idea. Once you've sold your NFT or tokens, you can then convert the stablecoin into the fiat of your choice and withdraw using the available channels in your country. Another option is to use the stablecoin with a crypto card like the Binance Visa Card.

  • Introduction
  • What are play-to-earn games?
  • How do play-to-earn games work?
  • How does blockchain technology secure play-to-earn games?
  • How much income do people make from play-to-earn games?
  • How to start playing play-to-earn games
  • How to cash out from play-to-earn games?
  • Cashing out crypto from play-to-earn games
  • Cashing out NFTs from play-to-earn games
  • Closing thoughts

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