How to Play Play-to-Earn Game Cool Pets NFT • Benzinga
The evolution of video games and online video games has been incredible. But how long have they been around? Some of the earliest video games date back to the early 1950s. They were one or two player games that had to be played on the same computer.
As computers and computer networks have evolved, so have video games. We can say that the advent of the Internet has changed the situation for the video game industry. It allowed players to play and compete around the world. From those early rudimentary games, few imagined that they would lead to a multi-billion dollar industry.
The video game industry continues to evolve and grow. The gaming market was valued at over $170 billion in 2021, up more than 14% from 2020. The market is expected to exceed $314 billion by 2027, equivalent to an annual growth rate compound (CAGR) of more than 9% from 2022 to 2027.
The newest addition to the gaming market is play-to-earn blockchain games. This is currently a small but rapidly growing video game market segment. What is a play-to-earn video game? These games allow players to earn crypto by playing online. Rewards can be paid in crypto or non-fungible tokens (NFTs). Axie Infinity is currently the most popular play-to-earn online game.
Rewards or purchased items are stored in the player’s crypto wallet, giving them ownership. In-game items are usually NFTs that can be traded or sold to other players or sold on other NFT markets.
What are cool cats?
Image credit: Cool Cats NFT, OpenSea
What is a cool cat? At first glance, it looks like another NFT collection. But the Cool Cats are more than that, with 9,999 randomly generated NFTs in the Cool Cat collection. As with so many other NFT collections, Cool Cats exists on the Ethereum blockchain.
An NFT is a token minted on a blockchain and, as the name suggests, is unique and irreplaceable – a one-of-a-kind piece of art or digital image. NFTs can also represent real-world items, such as real estate or the title of a vehicle.
Cool Cats Collabs
Image credit: OpenSea
In addition to the Cool Cats NFT collection, you can also purchase an NFT from the Cool Cats Collabs collection. This collection of NFT was created in collaboration with various artists, projects and brands. Other potential items for purchase include Cool Cats Events, a collection of NFTs that celebrate events around the world, and Cool Cats Achievements, NFT badges and trophies earned by participating in or winning Cool Cats events. Cool Cats Originals is a limited edition collection of NFTs created by the Cool Cats team that is randomly distributed to Cool Cats holders.
Cool Cats also launched a game to win.
The Cool Cats collection was created by a team of four members interested in art and cryptocurrencies: Tom Williamson, Rob Mehew, Evan Luza and Colin Egan.
What are cool pets?
Image Credit: Cool Pets
Cool Pets is a winning game that spans the Cool Cats Cooltopia universe and includes 19,999 Cool Pets, 9,999 for Cool Cats owners and 10,000 for the public. Cool Pets start as eggs and hatch into creatures of water, grass, air or fire. The food and items you use to interact with your egg help determine what elemental creature it will become. The collection features over 17 million possible pet combinations.
You go through four stages for your Cool Pet to reach its final form. You are limited to feeding your Cool Pet a maximum of five items per day, so it takes 10 days to grow from egg stage to final form.
How to Play Cool Pets Game
In Cool Pets game, you send your Cool Pet on a quest to help Sapphire Town and Cooltopia. Quests can range from minor tasks to epic adventures. Cool Pets can participate in up to 10 quests per day. Not all quests are equal; their rarity ranges from common to legendary. You can determine how epic a quest is by the size of the stars and the color of the quest in its list.
Cool Pets earn MILK tokens, the in-game currency, by embarking on these quests. Depending on its stage of evolution, your Cool Pet may also receive bonuses during a quest. MILK Tokens can be used to purchase Loot Crates available in the Cool Cats Market. Loot Crates contain the in-game items you use to interact with your egg. Cool Cat holders automatically earn MILK tokens every day as passive income. Cool Cat owners can earn MILK tokens by renting their Cool Pets.
How to buy a MILK token
If you are not a Cool Cats holder, you do not earn MILK tokens as passive income. Therefore, you must first purchase MILK tokens. You need MILK tokens to grow your Cool Pet until he can earn tokens on his own.
- Use a cryptocurrency exchange to buy Ethereum.
Because Cool Pets resides on the Ethereum blockchain, you need Ether (ETH) to buy MILK tokens. If you don’t have an account at a crypto exchange, open one to buy ETH. You can choose from many exchanges, but Uphold, Gemini, and Voyager are some of the best. All three have user-friendly trading platforms and a good selection of cryptocurrencies.
Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the United States, Gemini is expanding globally, particularly in Europe and Asia. The offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.
Gemini is one of the only brokers that offers multiple platform options depending on skill level. New investors will love Gemini’s streamlined mobile and web app interface, while advanced investors might appreciate all the tools that ActiveTrader comes with.
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.
- New investors looking for a simple mobile and web app
- Day traders looking to use technical analysis tools
- Users looking for a one-stop-shop to buy, sell, and store all their cryptos
- Easy and fast registrations – can start in as little as 5 minutes
- Multitude of platforms to accommodate traders of all levels
- Hot wallets include insurance to protect against theft and hacking attempts
- Charges both commission and convenience fees for users who buy and sell through the desktop or mobile app
securely through the Uphold website
- Transfer your ETH to a cryptocurrency wallet.
Once you’ve purchased ETH, transfer it to a wallet to connect to the Cool Cats website and the QuickSwap (DEX) decentralized exchange. A MetaMask wallet is your best bet for logging into Web3 websites. MetaMask is available as a browser extension and also as a mobile app. MetaMask is an easy to use wallet that supports multiple blockchains.
To install, go to metamask.io, click the download button, choose your browser and click “Install MetaMask”. Next, click the “Get Started” button, select “Create Wallet” and choose a password. Write down and store the secret backup phrase. Confirm your secret backup phrase.
With the wallet, copy your ETH address and paste it into the withdrawal window on the exchange. Before sending the transfer, double-check the address to make sure it is correct. Once you’ve completed the transfer, you can’t reverse it, so take your time and double-check and triple-check everything.
- Make your purchase
Buy MILK tokens from the QuickSwap DEX. Since MILK tokens are on the Polygon blockchain, add the Polygon network to your MetaMask wallet.
Follow these steps to add the Polygon network.
Import MILK tokens into MetaMask so that they appear in your wallet. Many coins and tokens are not automatically displayed in the MetaMask wallet and require this step.
To add MILK tokens, go to the MILK page on CoinGecko. Next, copy the contract address (right side under Info). Then open your MetaMask wallet and make sure you are on the Polygon network. Scroll down and click “Import Token”. Paste the contract address, then click “Add custom token”.
After setting up your wallet, purchasing MILK tokens is quite simple. Connect your MetaMask wallet to QuickSwap. Find MILK tokens and enter the number of tokens you want to trade. Click “exchange”, then click confirm when your wallet appears.
Will NFTs take over traditional games?
It is still too early to say for sure whether NFTs and play-to-earn games will overtake traditional games. However, it’s hard to imagine that players wouldn’t choose actual ownership of in-game items over renting them.
The amount of money players spend on in-game items is considerable. Around $54 billion was spent on gaming content in 2020; that number is expected to exceed $74 billion by 2025. Another huge bonus for players is if in-game items have value outside of the game.
Current cryptocurrency prices
The overall crypto market remains in a somewhat neutral state. After hitting a low of $32,917 on January 24, Bitcoin rebounded to nearly $45,000. Most altcoins have followed Bitcoin’s lead and are down a similar amount from their highs, at around 30% to 40%. However, some are down as much as 70%. The big question now is how long the bear market will last.
Are NFT games a good investment?
Whether NFTs make a good investment is subjective and ultimately depends on your investment horizon. NFTs are a speculative investment, and there is plenty of evidence to suggest that early investors see gains that are orders of magnitude larger than later investors.
Overall, the NFT market still looks pretty hot. After peaking last August, traders experienced a slight downturn before things heated up again towards the end of the year. So far, 2022 has started well, with OpenSea setting a record in January with $4 billion in NFT sales. It would be wise to keep an eye on the state of the overall NFT market, which will likely determine where individual NFT prices go from here.