The Metaverse is the newest way to earn and invest, and this cryptocurrency industry is still moving on an upward trajectory. In fact, more and more developers are creating play-and-earn games to help interested individuals easily earn cryptocurrency. One of the newest players on the block is Paradox Metaverse, a play-and-earn game developed by an indie gaming studio based in the UK. Aside from developing a unique cryptocurrency game, Paradox Metaverse also developed an NFT collection and a native cryptocurrency called Paradox Coin ($PARA) that powers the entire Paradox ecosystem.
The Paradox Metaverse is a play-and-earn game where users are tasked with completing different missions and milestones in-game, and their success and progress allow them to earn cryptocurrency. Paradox allows users to explore alien worlds with a dystopian theme, socialize with other users, cause chaos within the city, complete missions to earn rewards or make full use of the game’s multiplayer aspects.
The in-game rewards are in the game’s native cryptocurrency, Paradox Coin ($PARA). Players have several ways of earning cryptocurrency on the Paradox ecosystem, earning as they play the game through either active or passive means.
Another way that users can earn on Paradox is through staking. Put simply, staking is the process of holding specific cryptocurrencies to earn rewards. It’s a similar concept to depositing money into a savings account where an individual earns interest as they leave their money in the bank. As the bank uses this money for other purposes, such as lending, they reward the depositor through interest. Staking coins is like earning interest but in a cryptocurrency setting. In staking, users allow their crypto to be used as a part of the blockchain validation process, and they are rewarded by Paradox for the use of their assets.
With staking allowed in the Paradox ecosystem, users can stake their NFTs or Paradox Coin ($PARA) when they lock them up as P-Save for a period of 28 to 2,888 days. The stake will earn rewards daily, continuing to compound the longer the user stakes their coins; in other words, the longer they stake, the more rewards they earn.
Staking on Paradox Metaverse allows users to earn more compared to traditional banking. The Annual Percentage Yield (APY) for a $PARA stake of average length will be approximately 20%. This is much higher compared to the 2% APY in traditional banks. There is also a higher likelihood that the $PARA price will appreciate, which makes staking a more attractive investment route.
Of course, users will only gain their principal and interest rewards from staking if they stick it out until the end of their staking period. Both the principal stake and interest will be rewarded in $PARA. If users exit their stake early, they will lose the rewards they earned and only receive their initial investment back.
Today’s investors are all looking for ways to earn. Aside from playing the Paradox game, users can use staking as an additional stream of passive income. Staking is a profitable way of making crypto assets work even as they sit in a crypto wallet. And because the Paradox ecosystem will allow staking, their blockchain will be more resistant to attacks. Staking Paradox NFTs and $PARA will also strengthen the platform’s ability to process user transactions. So play on Paradox Metaverse, stake Paradox $PARA coin, and earn rewards without breaking a sweat.