NFT gaming is destined for great things. NFTs (Non-Fungible Tokens) are a kind of digital currency held over a Blockchain network. They can trace the ownership of an asset no matter where it goes at any point and make resell percentages available to past owners. The exciting act of finding rare items, gathering limited trinkets, and unravelling scarce art to own and cherish should be a highly enticing prospect for the 3-billion-strong international gaming community.
Surprisingly, however, not everyone is convinced about NFTs so far. Admittedly, there’s a possibility of different issues springing up. These include poor UX design, inherent volatility, and an adverse environmental impact. Specifically for gamers, the “loot-box” phenomenon is still there to be dealt with. These random boxes full of stuff, with their “paid-for” nature, have sucked quite a bit of money from players over time.
Nevertheless, NFT gaming is too big a trend to be ignored by publishers and developers. This is probably why so many publishers – including industry heavyweights like EA, Epic, Konami, and Ubisoft – are actively exploring the uses and possibilities of NFTs.
If you’re an avid gamer looking to understand the NFT space better, this article is a must-read. It includes a list of important things about NFT gaming that everyone needs to know. So, without further ado, let’s begin the discussion…
6 Things You Should Know About NFT Gaming
You need to be aware of the following aspects of NFT gaming.
The Players Will Be In Control
Most gamers are already familiar with in-game purchases via season passes and micro-transactions. NFTs give them more power with the option to sell stuff and even get a percentage of the proceeds from future resales. That’s a huge shift in gaming dynamics for players who grew up selling older games to pay for newer ones.
Consider this scenario. Both Fortnite and FIFA provide limited-time skins. There’s a scarcity created in either game, though the developer is the one who remains in control. Fortunately, the advent of NFTs means that players have the final say in the selling and reselling of items. For instance, if you showed up late to FIFA Ultimate Team and missed the first kits of the season, there’s still the option of buying them from other players.
Aside from items, the players can also invest in NFTs for new skills. Continuing the FIFA Ultimate Team example, players will be able to earn handsomely as “team-builders.” As a result, you will be able to put together strong and unique squads that could be sold to other players through an NFT marketplace!
NFT Gaming: The Trend Could Be Unstoppable
Say what you like about them, but the ability of NFTs to attract and hold their audience’s attention in very little time cannot be ignored. The art world and its newfound love for non-fungible tokens is a case in point. Both casual art connoisseurs and hardcore fans have taken to NFTs like ducks to water.
Other than the unbelievable public interest, artists have made a lot of money due to NFTs. In 2021, a collage by Beeple (Mike Winkelmann, a prominent American digital creator) was sold for close to $70 million.
Hence, there’s no reason why NFTs can’t make a similar impact on the gaming industry. We’ve already talked about players enjoying more control within a game. You can be sure of greater transparency as well, thanks to the highly efficient Blockchain technology.
Play-to-Earn Games Could Be All the Rage!
The rapid rise of “play-to-earn games” like Axie Infinity is an indication of the direction that NFT gaming is likely to go in. To put it another way, the earning potential of NFT games is expected to be so great that people would be able to earn a living from them.
Many play-to-earn games might have some similarities with popular non-NFT titles such as Stardew Valley and Pokémon. This has led to criticism from some quarters who consider NFT gaming to be a rip-off technique for preying on unsuspecting gamers. Nevertheless, with a daily user-base in excess of 3 million now, you can be sure that NFT gaming isn’t going away anytime soon.
Better Value
One of the biggest attractions of NFT games is their ability to enhance and add value to existing gameplay. In fact, the likes of KokoSwap are even working on ways to enable the players to take their added value out of a game and use it elsewhere.
Similarly, Quartz offers NFTs of new cosmetic stuff to current Ghost Recon Breakpoint players. These are usually backdated to reward long-time competitors and super-consistent players. Utilizing NFTs puts a player in sole custody of an in-game item. They can choose to sell it, trade it, or keep it for themselves. Similarly, Quartz offers NFTs of new cosmetic stuff to current Ghost Recon Breakpoint players. These are usually backdated to reward long-time competitors and super-consistent players. Utilizing NFTs puts a player in sole custody of an in-game item. They can choose to sell it, trade it, or keep it for themselves.
Interestingly, earning money from games isn’t a new idea. The concept has been around in different forms for a long time. However, NFT gaming has made that practice more flexible and secure, taking it to a completely new level!
Interoperability
You can think of “interoperability” as the “big idea” behind the evolution of NFT gaming. It enables your NFT collectible to be used across various games. Since your NFT item will be held on a Blockchain network, its ownership details and other data are incorruptible as well as easily trackable. This means that you can transfer the info, and thus the NFT asset, to other games on the same Blockchain system.
Metaverse Will Be Driven by NFT Games
The likes of Axie Infinity, Splinterlands, and other NFT-backed games are expected to be crucial for those who want to tap into the benefits of Blockchain, and resultantly the metaverse. These games will form one portion of the metaverse. On the other side, NFTs will act as the glue that links them to different aspects of our digital and perpetually connected future.
Final Words
The long and short of it is that NFT games are here to stay. If you’re interested in them, now is a good time to learn. The future holds great potential and you could end up making a living by simply playing the games you like!
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