It’s safe to say that NFT games are seeing a golden age. Someone right this moment is receiving a passive income of $100,000 per month playing a duck-themed NFT game called Waves Ducks. Crazy, right?
Stemming from Russia, Waves Ducks is, as of April 2022, one of the top 20 NFT marketplaces in the world and has recently announced that its in-game NFT characters are seeing a trading turnover of $2 million per week (!). The project is set to grow 5x in the next few months according to NFT analysts. How was it able to escape your radar?
But before we begin…
What is Waves Ducks?
Waves Ducks is play-to-earn NFT game, meaning that it combines traditional game mechanics with the possibility of making real money. NFT games are blockchain-based meaning that in essence, you don’t just progress and develop your characters in these games but you become an investor by supporting the crypto token associated with the game itself.
In Waves Ducks, by purchasing in-game currency called “$EGG tokens”, players use these to grow in-game duck characters to produce even more $EGG, develop their duck farm and compete with other participants. On the side of this, the NFT marketplace is used to buy and sell in-game Waves Ducks characters. For a quick introduction about how to get these EGG tokens, the video below explains it simply.
Waves Ducks Gameplay
The gameplay of Waves Ducks is very similar to that of Pokemon and follows the same logic of CryptoKitties, which was one of the first popular NFT games back in 2017. In CryptoKitties, players grew and took care of digital cats, hence the name.
What Waves Ducks does is take the concept further than that. Apart from the NFT marketplace where users can earn by selling their virtual pets, the money-making model actually comes from the gameplay itself. It wouldn’t be called a play-to-earn model if you didn’t actually play and… earn.
In the game, players also receive EGG tokens for performing a range of different tasks and actions. These tokens can later be sold on the exchange or be used to develop their farm plot.
But according to the game developers, both the Waves Ducks universe and the gameplay is set to expand. In a new update, new features will be added, including ducklings that can fight each other and evolve into adults.
Waves Ducks monetization
How do you actually make money with Waves Ducks?
One of the ways is through the monetization of the farm itself: Your duck sits on a roost and starts laying eggs. Depending on several parameters, your duck will bring you a set amount of EGG tokens which can then either be sold for a profit, or you can save up, which entails that a certain amount of these tokens allows you to create a completely new duck.
The new duck becomes both a unique NFT, which can be traded, and a potential laying duck (a generator of EGG tokens). This process becomes repeated and, in essence, becomes an opportunity to become a “couch farmer” with quite a hefty income.
Another way of monetization comes from the in-game incubator: This allows you to transform your EGGs into Basic ducks, but the world “basic” does not really mean basic in this sense because the price of a duck really depends on how rare it is. There are certain ways to breed rare, “pedigreed” and expensive NFTs, but this you’ll have to discover by playing the game itself. We don’t want to ruin the fun for you.
If you ever want to trade your egg tokens, there is only one site where you would be able to do so – the Waves Exchange, which requires registration. This functions as a regular cryptocurrency exchange, where the trading pairs WAVES/EGG and USDT/EGG exist.
What’s next for Waves Ducks?
The first version of Waves Ducks was launched in June 2021, but the NFT game has been consistent in implementing smaller features here and there. A big expansion is set for the future, which will boost in-game experience significantly.
Last April, the founder of the Waves platform, Alexander Ivanov, sold his own duck for $1 million at an auction and today the most successful player of Waves Ducks gets a passive income equivalent to $100 thousand a month.
The average price of game characters in the marketplace is equal to $3 thousand, and the most expensive duck costs $15 thousand. More than 7 thousand people from around the world currently play the game but the number of users is growing parabolically.
According to the Waves team, in the future NFT characters in different games will move from one game to another. It is also planned to make an open system for third-party developers so that they can create their own games based on Waves Ducks.
What similar NFT games exist right now?
NFT games are nothing new, however. In 2017, the first NFT games started to appear, but only a few of them really caught on and turned out to be successful projects. The most well-known NFT game on the market is undoubtedly, Axie Infinity where users collect creatures known as “axies”. These NFT games are themed differently and usually have different mechanics and are based on different blockchains. Two similar projects apart from Waves Ducks and Axie Infinity:
Splinterlands is an NFT card variant where users collect battle cards. They depict a variety of monsters, each with their own characteristics. With these collected decks, there is a PvP (player versus player) system where it is possible to fight with each other in different modes. The initial investment is $10 required to play.
Sorare – While similar to Waves Ducks, this is also a card-based game. The cards can be used as assets for investments or to participate in virtual tournaments. Since it’s a play-to-earn model, the more productive a player is and the more actions he or she performs, the more their card is worth.
So yes, it is very much possible to make money playing NFT games, and as we wrote in an earlier post, one of the most lucrative jobs in the metaverse is that of a “blockchain gamer“. Find our full list here.
For more information about Waves Ducks, visit their website.