A new stream of passive income with WAX
Lately I'm in a discovery mood and I like to try out new things. On noise.cash, I saw several people speaking about a new blockchain game. This one is on the WAX blockchain and is called Alien Worlds.
Understanding and using WAX
It took some time to understand how WAX works and to get started with the game. First I had error messages when I wanted to play but I've found answers in the discord channel of the game. I finally managed to create an account on WAX and to play the game.
What is Alien Worlds
I won't go too much into detail about how the game works. On discord, you will find all the necessary tutorials how to play the game. It takes some time to understand what it's all about. In a nutshell you need to choose a planet and a plot and start to mine on this plot with the tools that you have. Each time you mine, you will earn some TLM token. At the same time you have the chance to win a new item.
Each item is a nft that can be sold on the WAX atomic market.
It took me quite a lot of time to get my first nft and I lost patience a bit. I exchanged my TLM tokens into WAX on the Alcor Exchange. With this WAX, I bought some nft tools that would increase the output from Mining in the game.
What you have to understand is that it's totally free to get started. You don't need to invest anything other than your time.
Different ways to earn
TLM tokens
Each time that you mine, you will earn some TLM and you can exchange it into WAX. This is the first income source. The better your mining equipment will be, the more TLM you will earn.
NFT staking
The second income source is to stake the NFT's that you have won in the game, on the website Rplanet. For every NFT from Alien Worlds that you stake on this website, you will earn some Aether, the token of rplanet.io. You can then sell this Aether on the Alcor Exchange for WAX.
Of course you can also sell these items on the market or use them for mining.
Earning NFT's from cryptomonKeys
If you choose to mine on specific plots, you can even earn some NFT's from cryptomonKeys. Check-out this post that explains how this is done.
What makes this a passive income stream?
A lot of people call a lot of things passive income when it's actually not passive at all. All the above is not totally passive a part from the NFT staking. However all this is necessary to build a passive income stream.
WAX Staking
When you stake the WAX tokens (WAXP) that you earn from the game in your wallet, you will start to earn staking rewards immediately. The return is at the moment 4.31% APR. This is not that much but it's 100% passive. Staking is very easy and can be done within your wallet. There is even a lazy button that allows to do everything automatically (claiming rewards, voting for proxy and staking available WAX).
After playing the game for less than two days, the results are slow but all the same I see my stake growing and the number of nft's evolving. The more I play, the more TLM and NFT's I can get. The more of these I have, the more WAX I will be able to stake and my passive income stream will grow accordingly.
What I like about this, is that there is no monetary investment required and everybody can start the game and build a passive income stream quite quickly. WAXP can be exchanged on Bittrex, Upbit, Huobi, HitBTC,...
Let's connect ! You can find me on these platforms:
Hello friend @achim03 :
As always, your publications are a great pleasure for me to read them, you are the best! 😍
I find this game very interesting and it seems similar to a game that was previously in steemit, I do not remember its name but it was about conquering and invading planets and you won some esteem for doing so, which were deposited weekly in the wallet.I even remember that there were clans that one could join.Without leaving the topic much, I find the idea of being able to stake these coins very interesting, and I wonder if the game will have any apps or can it be played on Android or cell phones (I guess so).In short, it is very attractive and I think I would go for the passive income side, although I repeat I would like to know if I can play it on my Android phone because it is a low-end phone 🙄.
What they propose with this game is very attractive and I thank you very much for sharing this useful information to generate money passively.
By the way I am also in noise.cash, my username is the same as here in steemit I would like you to take a walk there and if possible give me some tips to comment 😍
Hi my friend,
Thanks a lot for your great comment. I believe you can play the game from your phone if you have chrome browser installed. It's not an app yet but it seems to work. There are no real apps yet but Wax is different from Steem and it's possible that you can access it by phone.
I think I found you on noise.cash. Go to my profile https://noise.cash/u/achim03 and subscribe. Like that you will see my posts and I will gladly give tips to some good comments :-)
you are absolutely right when you say "that everything is called passive income", people think that by winning a bet they are already passive income generators on the other hand these games are gaining a lot of popularity on the web and that's great, can you tell me how much tokens it costs to play?
What I like about that game is that you can start totally for free. After a while you might need to stake some WAX so that you can perform all the necessary tasks but otherwise you just have to invest your time :-)
Hello dear @achim03.
I'm not a fan of games, but I am a fan of making money, so I will for sure give it a try.
The advancement of the NFTs is unstoppable and they found their main field of applicability in games.
Many experts dare to say that in the near future NFTs could compete in capitalization and marketing with DeFi levels. So we should all be interested in learning more about them.
Thank you for sharing this positive information.
Sorry for my late answer. I totally agree with you. Nft's are a kind of disrupting technology. I'm seeing stuff especially on WAX that are pretty interesting. Thanks a lot for stopping by!
I always enjoy reading your work.