Video games are a fun, immersive, and engaging way to keep yourself entertained and connect with new people from all over the world. They’ve spawned a multi-billion dollar industry that continues to grow as the best games become more challenging and realistic than before.
According to data from the market analysis firm Grand View Research, the global video game market was valued at $195.65 billion in 2021. The same research forecasts the industry to grow at a compound annual growth rate of 12.9% from 2022 to 2030.
It used to be that all of the billions in revenue amassed by the gaming industry ended up solely in the hands of video game developers, but with the rise of social media, video streaming and cryptocurrency technologies, that’s no longer the case. These days, it’s possible for anyone to do what was once considered only a fantasy – get paid for playing the video games you love.
Here’s three of the best ways that anyone, including you, can get paid for playing video games. In each case, the better you become at playing the games you enjoy, the more your earnings potential will increase.
Streaming
If you’re into video games, you’ll likely have heard about names such as Ninja, Pewdiepie and Shroud. They’re among the world’s most famous video game streamers, having accumulated millions of followers on their respective social media platforms, and they make a serious amount of money just by broadcasting what they do best.
They’re setting an example that anyone can follow. The top platforms for video game streaming include YouTube, Twitch and Facebook, and the key to success on all three is popularity. To become a popular streamer requires a combination of skill at playing many different games, the ability to entertain your audiences, and no doubt a heap of good fortune too.
By creating engaging, live-streamed video game content, you’ll be able to earn revenue in various ways. The most obvious is ad-based revenue, which comes from targeted ads inserted into video game streams. For each click, you’ll earn a small portion of the revenue obtained, so the key to making lots of money is to build up a large enough traffic base that you get plenty of clicks.
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Other options include subscriptions to exclusive content. If you’re especially popular, you may find that people are willing to pay for additional perks, though any revenue earned this way will have to be shared between you and the platform. Then there’s sponsorships. If you ever become popular enough, you’ll no doubt be approached by different brands that are interested in leveraging your popularity to advertise certain games and products, such as a new gaming controller, an energy drink for those late-night gaming sessions, or something else.
Of course, the challenge is that it’s not easy to become a popular video game streamer. There’s hundreds of competitors out there, and getting the level of traffic required to unlock the above revenue streams will take a lot of time and effort
Play-to-Earn games
If you don’t have the patience or the personality to become a successful streamer, a much faster route to making money can be found in “play-to-earn games”, which are an emerging segment within the video games market.
Also known as “Web3 games” or “Blockchain games”, these are video games that integrate technologies like blockchain, crypto and non-fungible tokens to unlock the concept of “in-game rewards”.
With play-to-earn games, players can earn cryptocurrency for completing various daily challenges, which might involve performing certain in-game actions or sharing or liking stuff on social media. In addition, many play-to-earn games are somewhat akin to gambling, in that players pay an entry fee that goes into a prize pot that’s paid directly to the winner.
You won’t be making real “fiat” money. Rather, you’ll be earning your rewards in cryptocurrency tokens. But this is just as good, for it’s easy enough to take those tokens you earn to a crypto exchange and swap them for Bitcoin and from there, exchange it for fiat money.
Most play-to-earn games have their own native token. For instance, the Funtico Web3 gaming platform is centered on the TICO token, which is the main, in-game currency used across its library of games, such as Formula Funtico, Lucky Fanatic, Solitaire Slam, Bingo Rampage, Shark Fin Frenzy and Heroes of the Citadel.
Funtico’s games can be played 24/7, meaning players can receive TICO tokens around the clock, but the most profitable opportunities can be found in its regular tournaments, where it sets aside some substantial prize pools for the best players. Its first-ever tournament, for Formula Funtico, offered 100,000 USD in prizes, shared between the fastest racers.
Funtico’s platform is gearing up for even bigger tournaments with the recent TICO token generation event, which saw it listed on multiple global crypto exchanges. TICO is a valuable asset because it’s the main currency for in-game purchases, such as buying NFT-based weapons and accessories across its library of games, as well as the primary reward for in-game achievements.
eSports
While everyone has the chance to make money from play-to-earn games, it can also pay to play traditional games, if you’re good enough.
If you believe you’re good – like, really, really good – at a specific game, you might just be able to earn some cash prizes by competing in so-called eSports tournaments against other human players.
eSports sees professional gamers pit themselves against one another in extremely competitive tournaments and, on occasion, they can win some serious money. In tournaments for popular games such as Fortnite, League of Legends and DOTA 2, it’s not unheard of for video games developers and sponsors to put up millions of dollars in prize money for the victors, underscoring just how good some of the world’s best players are.
It goes without saying that you’ll need to be extremely good to compete at this level, and you’ll need to battle through endless qualifying rounds to get a chance to even compete for the biggest prizes. The best eSports gamers treat it like a real job, putting in hours of their time in an endless effort to refine their skills and ensure they can take on all comers.
That said, somebody has to win and if you think you have what it takes to compete with the best in the business, then eSports might just be a legitimate route for you to earn a comfortable living.
Final thoughts
Ten years ago the very idea of making money from playing video games was just a dream, and a laughable one at that. But the industry has evolved to the point where it can now be considered a viable career for the very best players, with numerous money-making opportunities available for the most skilled and most entertaining players.
While only the best of the best will be able to make a fortune from playing video games, the emergence of play-to-earn gaming and video streaming platforms means that there’s potential for players of all levels to get paid something for their efforts.
