WAX blockchain offers staking with an appealing APR of 8%. Most of my WAXP tokens were earned in the previous bull runs while I did a lot of NFT trading and also got involved in many games in their inceptions. This offered me the opportunity to harvest play2earn assets while they had appealing prices and sold them to cover my initial investments and get some yield on top of that. I have still a bunch on NFT collections that I didn't sold and will hold them for a future revival of the ecosystem. But until that happens, I will simply stake all my WAXP tokens for a decent passive revenue stream.
WAX developments
WAXP tokens all time high was at some point at $2.77 and now the market price is standing at $0.06. A huge gap from where it climbed and where it finds today, but I believe that in time with the crypto space maturing we might see steady consolidation of the price and appreciation. And the last cooperation with Amazon to integrate the WAX blockchain in the AWS is a real proof that this ecosystem might still have better times ahead of it. Just that it will take quite a bit of time and strategy to get there.
WAX strategy
As with the current price liquidating all my WAXP positions wouldn't make a dent in my portfolio, I will HODL on this one and make it a long play. And while I will be doing that my strategy is to simply earn WAXP from either play2earn games from this ecosystem, NFT trading or simply staking WAXP as CPU and NET for a purely passive 8% APR. I just need to vote some validators once per week or so, thus it is pretty easy to get some extra revenue. And from there I simply stake again and repeat.
WAX revenue streams
As of now I am tapped into few revenue streams on the WAX blockchain. One of them of course is the staking of WAXP tokens which is the easiest one to do and which it ensures steady yields. I usually harvest the earnings once per week and after that I am staking all back in order to make us of the compound ripple. Vote, stake and repeat!
Another stream for me is the Alien Worlds play2earn game. I have some strong mining tools, even some rare ones which allows me some decent mining of TLM. At the same pace of once per week I harvest all the mined TLM and exchange it for WAXP on Alcor Exchange. And you guessed it right - from there I go on and stake it all.
Another stream which I didn't nurtured lately, but which still can provide good yields is Colonize Mars. I have NFTs from 2 editions, already harvested different resources, but I must confess that for about a few months I haven't entered the game to make sure the economy is healthy. I will just put that on my To Do list in the near future.
I have tried other revenue channels through different play2earn games, but I believe that on some of them I am a little bit too late to the part. So my strategy in this regards is to try to find new incoming games where I can tap into from the beginning and reap the most rewards. This worked for me in the past and I am willing to repeat that and give it a try.
Overall I believe that the WAX blockchain is a steady earner for me, even if I will not get rich soon out of it. But as it grows and attracts new types of businesses and assets - now they try to hype on meme coins as well - it might have its place under the spotlight in the future. Thus probably this will be a long hold for me until it will prove itself.
What about you?
Are you invested in the WAX blockchain and what projects are delivering for you?