Over the past decade or so, the cryptocurrency has gained the tag of a quick money-making scheme, as new millionaires are printed in the industry every other day. True to it, cryptocurrencies offer multiple opportunities to generate income, whether actively or passively. From normal trading to buying and selling crypto, traders are able to make money from the market. But this usually requires considerable knowledge and skills in the crypto trading scene to become successful.
Recently, crypto investors have switched to decentralized finance (DeFi) systems, which has given users an opportunity to stake and earn rewards by providing liquidity to protocols. While simpler than trading (and more passive), most DeFi protocols have a high cost of entry, locking out smaller traders and retail investors from participating.
The same goes for blockchain gaming, popular as play-2-earn games, whereby some platforms ask for as much as $150 (+ gas fees) to join the games. As lucrative as these P2E games are, most platforms have a high cost of entry, reducing the chances for investors/gamers to profit.
These barriers of entry have made it practically impossible for users from developing nations to have an equal opportunity to participate in the cryptocurrency space. One protocol, PlotX, a decentralized X-2-Earn GameFi ecosystem, aims to remove these barriers to provide every investor with an equal and transparent chance to make money from the cryptocurrency market.
Revolutionizing monetization in crypto
Founded in 2020, PlotX aims to allow users to make predictions about a variety of different cryptocurrency and FIAT markets and their pricing differentials, earning rewards for correct predictions. The development team created a unique project that explores more opportunities to help users earn from crypto in an “X-to-earn” model. Put simply, users on the platform have multiple ways to earn, including play-2-earn, stake-to-earn, and predict-to-earn, with several exciting avenues for income generation from cryptocurrency to be added in the future.
Currently, the project has more than 70,000 markets available to predict and more than half a million predictions have been made on the platform itself.
As explained above, most monetization protocols in the crypto space suffer from high costs of entry. With PlotX, users will be able to start earning with as little as $5 in investment due to its low-cost barrier of entry. The team at PlotX has addressed the issue of high charges for gas fees by creating a platform without these fees. This means that people using the platform can make the most money possible from their transactions and their predictions.
The project also creates an easy-to-use platform, reducing the technical and market complications that new investors in the crypto space usually face. Its platform is easy to understand and set up even for traditional investors, which helps to increase the overall uptake of the project and the cryptocurrency ecosystem. This also helps those in developing countries to become more involved in the crypto space.
PlotX also allows users to stake their tokens on the platform, providing users with a passive income without the risk of betting or predicting crypto prices. Unlike other DeFi protocols, users on PlotX minimize the staking costs by providing a zero-fee platform. This creates earning opportunities for those who want to be active and want to earn money without having to constantly manage their account. So far, liquidity pools on PlotX have collected more than $32 million through user participation, and from this, users have successfully totaled more than $14 million in rewards.
Monetizing crypto assets is rapidly growing as the sure way for investors who do not wish to trade to earn a passive income. The launch of staking, play-to-earn, and other DeFi services has opened up the world for all investors, including the banked, unbanked, and underbanked people. However, as the industry swells, cheaper and more scalable solutions such as PloX will be key to welcoming new investors into the field as they break the high cost of entry.