This transcript was generated from the episode audio and may contain minor errors.
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All right, all right. Welcome to Saito Soul School. Let's talk about profiting from Blockchain Video Games. This is something I had so much fun writing about while researching and then writing about in Gonzo Capitalism, the new book. But honestly, before I even wrote anything about it for the book, I spent months learning about the world of Blockchain Video Games, just 'cause it was so fun to me personally.
Now that was going back a couple of years ago, at least the research process. So today's question from Alex, he discovered Saito Soul School through a social media recommendation. Thanks Alex, thanks to whoever recommended it to him. He lives in Denver. He's been intrigued by Blockchain Video Games.
He's wondering, well, since you first talked about this a while back, and then the book came out and such, what's it like now? Like, is this still something that can make you money? Alex is a casual gamer, he's heard about it, and he wants to know which games are the most lucrative, if this could be a reliable side hustle, and so on. So, you know, in short, can you still profit from Blockchain Video Games? Well, let's talk about it.
This is a subject I really enjoy. Thanks for being out there. Quick shout out to our sponsor. I appreciate them as well. And then Alex's question.
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Hey, my name is Alex, and I'm tuning in from Colorado, where I've been living for five years. I remember you talking about Blockchain Video Games in one of your episodes. I'm tech savvy and have some disposable income I'd like to invest. However, I'm concerned the profitability might have waned since it's not a new concept anymore. What's your take on this sector as a side hustle or potential business?
- Hey, Alex, thanks for tuning in. So as I noted in the introduction, I'm a big fan of Blockchain gaming. I learned a lot about it for Gonzo Capitalism. I probably learned too much. I probably lost a few months of my life in this little world, kind of playing games from DeFi kingdoms to DeFyra to Stepin, which is like a fitness app where you earn money while running or walking every day.
A bunch of others as well. One that I'm still into is called Chicken, no affiliation. I'm just a participant, chikn.farm, where you purchase virtual roosters and chickens and you can like upgrade them and they get new skills and they get more valuable than you can trade them with other players and sell the various tokens. There's a whole ecosystem to this. I'm not gonna go off on it too much.
So Blockchain games are still around, but definitely have had a big adjustment in the past year or so since I was first doing the research in the sense that the entire crypto market definitely had a huge adjustment in FTs, which a lot of these games use had a huge adjustment downwards, meaning that they're worth a lot less. So I definitely think it's more difficult now. That's the bad news to profit from it. The good news is that they're much more accessible. Like you don't have to spend a ton of money to get into them.
So you may not make money, but at least you can have some fun and learn about it. As for what games are popular these days, I'm not even sure, to be honest. I'm still doing the ones I was doing when I first started and I don't have a great recommendation. So I would look at Reddit, I would look at Discord. A lot of these communities kind of spring up there and they don't always stay around that long.
That's the other kind of thing I'm wary about saying, hey, go and try this one because it may not be there. So in short, I think it's a fun thing for somebody who's interested in finance and gaming. If you're not interested in those two things, then don't worry about this. Pass on this idea and wait for something else. And if you are, then experiment.
Experiment, spend a small amount of money trying to see what you like about it, what you don't. It does have a learning curve. There's a lot to learn in terms of how you actually even purchased the assets in the first place 'cause you have to use crypto tokens and that takes time for people to learn. So that's what I think about that. I'm still a big fan.
It's kind of in a winter phase right now. I'm curious to see if in the next year or two it will like come back with a vengeance in terms of a much larger user base, but we'll see. I don't know, I'm not a futurist. So I just try to do what's in front of me now. So I'm working on some other stuff as well.
That's what I'm doing. Listeners, let me know what you're up to, what you're doing, sidehustleschool.com/questions. Much more coming up as we proceed a pace to the end of this year and also beginning to think about what comes next. So I'll share that with you at some point soon as well. Thank you so much for being there.
My name's Chris Guillebeau. This is Side Hustle School. [Music]
From the Onward Project.
