Archives for July 2021

The virtual economy is booming.

There’s no better proof than Massive Multiplayer Online (MMO) and mobile games. They represent burgeoning virtual economies brimming with lucrative potential.   

More and more gamers exchange virtual goods in-game. Some do it to supercharge their progress and others are after profit (real money).

Game companies have taken notice and refined their monetization strategies.

They turned free-to-play titles into cash-generating machines. Valuable property can be any virtual resource, from player avatars to weapons. Gamers are more than willing to substitute real money and time for these items.

Here are some of the most prominent digital ecosystems to this date.

1. Linden Dollars (Second Life)

Life simulation games have ventured further than any other genre did.

Take the example of Second Life, which allows players to do pretty much anything they want. The game also bridged the gap between real and virtual economy. Namely, players can generate Linden Dollars (L$) by completing tasks and jobs.

It’s also possible to trade real money for them.

The game is unique for embracing laissez-faire policy toward currency transactions on third-party websites. It even recognized the intellectual property rights of in-game assets. The result is one of the most player-centric virtual economies ever to emerge.  

2. Interstellar Credits (EVE Online)

Interstellar Credits (ISK) are the economic bloodstream of EVE Online. 

They differ from L$, as they aren’t freely convertible to real currencies. One can only use cash to buy certain items from non-player characters (NPCs).

The reverse process doesn’t work. This means you can resell possessions within the EVE economy, but only for L$. 

Another interesting feature is none of the resources are finite in amount. Laws of supply and demand apply to their full extent. This level playing field gave rise to market manipulation and confidence schemes. 

CCP Games was even forced to hire a real economist to monitor in-game transactions. 

3. Gold (World of Warcraft— WoW)

Gold is hands-down the most common of all virtual currencies.

The one from WoW still shines the brightest for many gamers. Blizzard’s megahit launched MMORPG into the mainstream and attracted swarms of devout gamers. At the peak of the gold rush, there were dozens of websites for purchasing the currency.

As years rolled by, the economy became more regulated. The powers-that-be imposed trade restrictions (for real cash purchases). Still, nothing would prevent black markets from popping up.

Blizzard could only hope to steer players away from them.  

4. Gold (Runescape)

Before the WoW craze, there was a fantasy MMORPG called Runescape.

It was one of the first games to enable real-money trading between players. This level of virtual economy is known as the global secondary market.

For a time, its growth was unhinged, as there were no trade restrictions. Many individuals amassed wealth over the years via the method of gold farming.

Then, the game studio suddenly decided to start removing unbalanced trades. Many players protested and many of them unsubscribed for good. As for diehard fans, they continued to fill up their gold treasuries.  

5. Project Entropia Dollar (Entropia Universe)

A space-themed MMO Entropia Universe has a highly-sophisticated economy.

It employs a micropayment business model. Project Entropia Dollar (PED) is the official game currency. It can be exchanged for hard money at a fixed rate of $1USD for 10PED.

The company makes income by charging a transaction fee. In return, it offers a stable and reliable system. One standout feature is the ability to deposit money to the bank account.

This all means a plethora of virtual items are infused with real value. And we’re not talking about meager sums. Believe it or not, one space nightclub was sold for $635,000.

This is the largest virtual purchase ever recorded.

6. Multiple Currencies (Clash of Clans)

More developed mobile economies tend to have multiple currencies.  

Clash of Clans is a prime example, a game that has been dominating top-grossing charts. Three available currencies are Purple Elixir, Gold Coins, and Green Gems.

Economies like this always feature a hard currency (Green Gems). This is a premium asset that can only be purchased via a real money balance. On the other hand, soft currencies (Elixir and Coins) are purely a virtual resource.

To obtain them, a player has to spend enough time and effort.

A mobile studio has to consistently create new content and track player progress. This is the only way to keep the economy going.

Virtual Economy Is a Real Deal

Virtual economy is becoming a very real phenomenon.  

Thanks to the growing video game sector, it’s a multi-billion dollar industry already. And that’s just the beginning. We are poised to reach new heights in 2019 and beyond.

The landscape is also getting increasingly diverse. The virtual economy encompasses all games loops, genres, and platforms. Players seek all kinds of objects and items with in-game utility.

Bear in mind this state of affairs is the product of game design, but also game monetization. It’s a double-edged sword one has to wield carefully.

If you want to save money while playing on Xbox, reach out to us for more info!

Imagine if someone paid you for playing games on your smartphone, computer, or gaming consoles.

That’s living the dream, am I right?

Well, I have great news… you can find games to make money pretty easily; the key is knowing which ones are legit and easiest to work with.

We’ve taken the liberty of listing the 7 highest-paying games that make you money.

7 Highest Paying Games That Make You Money

Get your gamer’s thumbs ready, because we’re diving right in!

WHAFF

Simple to set up and even easier to use, WHAFF is a great phone app with games you can make money on. 

After logging in, it will give you a few options of games to choose from. Once you’ve done that it will tell you what your task is (how long to play, what goal you need to reach, etc.) and the cash reward for doing so.

WHAFF also rewards you referring people to it, even more, money to be made that way!

SecondLife

Any gamer that loves simulation games and is interested in making money playing games need to be on SecondLife.

For all of you “The Office” fans out there, this is the game Dwight played in season 4. 

SecondLife plays like any other simulation game but allows you to sell items on it for Linden Dollars, which can be transferred to real money.

Bulb Smash

Android users: Want to be mentally satisfied, play a game, AND make money simultaneously? Then pick up Bulb Smash!

Might be hard to believe, but a phone game about destroying light bulbs with a sling will pay you when you level up in the game.

Also, a great game to play with friends, let them join in on the fun as well!

Swagbucks

Full disclosure: this isn’t just a game for your phone. In fact, there are several ways to earn money such as videos, watching ads, etc. 

Not to worry, though… Playing games is a way to generate money, although the game selection may not be as expansive.

Nonetheless, it’s a legitimate game that gives you the option of cash or gift cards to name-brand companies, so we’re all for it!

LaLaLoot

This one takes a little patience, as the first 5 days require you to watch ads and, by doing so, collect tokens.

Those tokens can then be used to play the games of your choice to win money. 

Also, for all you lottery enthusiasts, there’s a $10,000 daily prize that you may be lucky enough to win!

Paid Game Player

The title of this site says it all! Warning though, you need to be 18 years old to sign up.

After signing up, you can pick from hundreds of different games, in several different categories, to start earning money. 

On top of playing the games, you can complete surveys and refer friends to earn money.

HQ

Possibly the most popular game that you can make money on right now, HQ is a real-time trivia app game that splits the winnings among those that can answer 12 questions correctly.

The winnings vary by how many victors correctly answer the quiz, which has ranged between $10 and, in some cases, over $15,000!

Because HQ has so many supporting sponsors, this mobile game is completely free for you to download and play.

Hone Your Skills, Make Money Doing It

Playing games that make you money is a great way to use your gaming skills to generate money for you and your family.

Whether you’re trying to start a career as a pro gamer or just looking to form a side hustle, it’s a great way to release your gaming itch.

If you’re looking to save money, be sure to sign up for our limited beta and check back soon for more upcoming details that will increase your gaming experience.

Do you like min/maxing character stats in your games? If so, you’ll love learning how to get started in stocks. It’s kind of the same idea, except you’re playing with real money and not in-game currency.

Think of it like this:

• Trading is like your quick pickup matches
• Investing is doing a long-play

Both offer opportunities since you can invest in the very same companies producing your favorite games. You’ll also know about the tech powering the industry, giving you even more options to explore.

Interested? Here are our top tips for getting started in stocks as a gamer.

1. Invest What You Can Afford to Lose

You should know that you can lose a lot with any investment.

So:

• Only invest what you’re willing to / can lose
• Only invest what you don’t need immediate access to

Knowing finances can go wherever which way will encourage research. This creates sound financial decisions versus brash, reactionary actions.

2. Create a Hierarchy of Saving and Investing

The best way to save or invest happens with automation. As in, you have consistency with how often you’re setting back money or putting it to work.

Make it like a leveling system if you need to:

• LV 1: Pay all the necessities
• LV 2: Set aside money for emergencies
• LV 3: Put money away for long-term savings
• LV 4: Invest money in sound (ie. retirement) investments
• LV 5: Have some fun and experiment with money

Grind levels with each paycheck and soon you’ll have a net worth.

You won’t spend as much, either, because it takes out funds before having access to it. This is the basic principle of paying yourself first. And, why micro-investing platforms are becoming such great financial tools for beginners.

3. Don’t Let Emotions Dictate Investments

The best stock investors are dead… literally. The second best are those who completely forgot about their portfolios. Why? Because they let their money grow in the market and didn’t trade on emotions.

Emotional investing gets you trading without due diligence. You may spite trade or try to catch the hype. More often, it doesn’t pan out because you enter them at an ill-advised time or exit before they mature.

It goes the same with the companies you choose.

EA gets a lot of hate but if you were to invest in their stock a decade ago then you’d have made almost 4X your investment today. The point being is that you need to approach all this like it’s a boss mechanic.

4. Stick with What You Know (In the Beginning)

Save toward things you want or that add value. And, put money toward companies you know to be in good standing and primed for growth.

There are a few gaming companies you could throw money into:

• Take-Two (TTWO)
• Activision Blizzard (ATVI)
• Nintendo (NTDOY)
• Microsoft (MSFT)
• Sony (SNE)

Plus, you’ve got the tech behind it like Nvidia, AMD, Logitech, and others. Do research into companies you use in gaming and go from there.

5. Diversify

Diversify everything:

• Where/what you’re learning about with investing
• Platforms and brokers used in the investment process
• Companies you’re putting money in and the different sectors

You want a big pool to draw from in case we get another collapse. And, so you’re not riding everything on one or two companies. 

Solving the Hardest Puzzle with How to Get Started in Stocks

These tips provide everything you need to get the basics of how to get started in stocks. But, there’s still the challenge of actually doing it. We’re sure you have lots of stuff in your backlog, taking up your time, energy, and resources.

We wanted to make investing simple… and fun.

Lootfeed lets you connect your financial account with your gaming. You’ll begin saving automatically with each intense gaming session. You’re kind of paying yourself to game when you think about it!

Want to read the full details? Check out our FAQs for everything.

Unless being a broke gamer is a lifestyle choice, it tends to be a pain.

The thing is, it doesn’t have to be that way.

Being a gamer means you already have a mind for strategy and planning ahead, which will serve you well in making your own real-life money.

Wondering where to start?

No worries. Just keep on reading to know all about the top three things about investing vs saving that’ll put you on the right financial track. 

1. Investing vs Saving: So What’s the Difference?

They might sound like they’re the same thing, but they’re not. As a matter of fact, for a wholesome financial strategy, you should be doing both.

So let’s start with the basics, shall we?

Investment

In the simplest of terms, investment is something (like an item, or an asset) that is acquired to generate some sort of income or appreciation.

Investments can be a lot of things; like bonds, stocks, mutual funds, real estate, gold, or derivatives. 

For example, if you bought an apartment with the intention to lease it, the monthly rent payments you receive is your return on investment.

A thing to note about investment is the fact that it is of higher risk than savings because they promise higher returns.

Savings

Savings is the leftover money that you have after spending your disposable income (DPI). It’s what you decide to hide away every month out of your income.

It’s the little money you put aside for buying that amazing game that your friends have been raving on and on about on Steam, and it’s that money cushion that you’ll use for any kind of emergency.

The idea behind savings is not to generate income (unlike investing), but to not lose the actual value of your money as time goes by.

2. How to Let Your Savings Save You

Anyone can save, but to have solid savings without losing out on other investment opportunities is a bit tricky.

So start with tracking your savings by putting a deadline or reminders in place, and make sure there is a specific goal for that savings account.

A good rule of thumb is understanding the two types of savings that you should have: emergency savings, and goal-oriented savings.

Emergency Savings

Your emergency savings can be accumulated through a simple savings bank account, and you should keep putting money into it until it covers all your personal expenses that span six months.

It includes everything from personal expenses to insurance costs, utility bills, and loan payments.

So if you lose your job or any other extenuating circumstances happen where you lose your main source of income, your savings can save you until you can get back on your feet without an insane amount of emotional and mental pressure.

Goal-Oriented Savings

If you have any specific goal that will cost you a large chunk of cash in five years or less, then go the savings route, not the investment one.

There are a couple of options here, like getting a CD from a bank, where you’re toeing the line between savings and investing, but you’re actually getting the best of both worlds: higher return and low risk.

3. Investing for the Future

Same as with savings, investing does have a couple of golden rules so that you can avoid unnecessary risks, and gain the highest benefits possible.

First, the earlier you invest the better. 

We know it sounds simple, but it truly does make a difference.

Second, when you get to save money while playing, that’s you hitting two birds with one stone.

Third, you need to make sure that you understand what type of investment vehicles are you going for and what are their limitations. 

Fourth, go for the no-brainer solid funds, like a 401(k) if it’s offered by your employer. 

There are other plans for specific purposes like an education savings account (ESA) or 529 plan if you have children, which allow withdrawals when your kid goes to college.

There are so many investment instruments out there, so make sure you shop well before you buy.

Ready to Make Some Money?

Now that you know all about investing vs saving, and the top three tips for saving and investing money well, you’re good to go!

And if you have any questions about how to make money as easily as gaming, then make sure you contact us and we’ll put you on the right track.