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How the Gaming Space Will Be Transformed by NFTs in 2023

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How the Gaming Space Will Be Transformed by NFTs in 2023

NFTs, short for non-fungible tokens, have already made headlines for their influence on digital art, presenting new business models for artists. But their influence could extend beyond art and collectibles and into gaming.

Here we present some examples of how they can impact the gaming industry.

1. Increasing the Number of Games Using NFTs

As NFTs grow in popularity, so will the number of gaming using NFTs, including play-to-earn games. Some games using NFTs include Axie Infinity, Splinterlands, Alien Worlds, CryptoKitties, and others. Axie Infinity is one of the most popular, with millions of players.

2. Increasing Value of In-Game Collectibles and Other Items

Players will see an increase in the value of the items and objects traded in games as they can be sold or traded for cash. Items can be, for example, skins/cosmetics, accessories, etc. While earning money in a game is not a new endeavor, NFTs will facilitate and help make the market for such items more secure, hence increasing their value.

3. New Business Models for Game Developers and Organizations

NFTs will allow companies to create new markets and monetizing strategies including for memberships and selling in-game items and collectibles. This will allow them to diverge from the model of purely selling game copies.

4. Making Games More Secure

Since NFTs are a certificate of ownership, they could help combat the reselling of pirated games. This is important since the cost of piracy is estimated in billions. Thus, preventing piracy could reduce the cost associated with gaming.

5. Making Games More Inclusive

Gaming has maintained a sense of exclusivity because of the costs associated with software and hardware. NFT could make gaming cheaper by allowing for cross-platform gaming from PCs to smartphones so more people can enjoy games.

6. New Opportunities for Branding and Marketing

Companies could promote their products and services in-game using NFTs. NFTs can be used to boost engagement with consumers and gamers and to create communities. NFTs can also be used to create a loyalty program and build the identity of your brand online.

7. Support Independent Developers

NFTs can be used to draw attention to a game in a saturated market and hence to smaller game studios and developers. It can not only be used to attract the attention of potential customers and offer them a unique experience but also to raise cash by selling NFTs items before the game’s release. Those items can then be used in-game.

8. Rise of a New Genre of Gaming

As NFT games grow in popularity, so does the ecosystem around them. We could see dedicated hardware for NFT games or platforms focused on NFT gaming.

9. Rise of New Hardware

As mentioned earlier, new hardware could be designed for NFT gaming and help gamers get the most out of games based on NFTs. This is like what we saw with hardware and accessories dedicated to the esports scene.

10. Endless Possibilities

We are in the early phases of what may be a great future in terms of the adoption of NFT gaming. And who knows in how many more exciting ways will the scene of NFT gaming keep growing. We are likely to see innovations emerging in what is bound to be an exciting time for gamers and developers.

NFTs

What are NFT Games? Understanding the Industry

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What are NFT Games? Understanding the Industry

The most popular technological intervention in the present day for digital transformation is represented by non-fungible tokens (NFTs). NFTs have shown substantial potential in transforming the gaming industry.

You will learn more about the benefits of NFT games from the discussion below.

How and why do NFT games become famous?

This game combines traditional gaming features with brand-new gameplay mechanics to create a unique gaming experience. A large part of the functionality of new and upcoming NFT games is to offer players more control over the in-game assets. Because of their tamper-proof and unique nature, NFTs are frequently used for digital assets. There are options for players to create or breed characters, earn and unlock exclusive items, and purchase digital assets on the third-party or native markets.

NFT games with the most fans

There are many advantages to NFT games compared to conventional precedents in the gaming industry. Players of top NFT games can earn assets in-game and profit by selling or distributing them. The following is a list of some of the top titles on a current NFT game list.

  1. Axie Infinity

Axie Infinity uses blockchain technology for its gameplay. Breeding and collecting digital creatures, known as Axies, is the first goal of players. Thematically, Axie Infinity is similar to the Pokemon series. With Axie Infinity, players compete against one another using Ethereum. Moreover, they can discover the advantages and disadvantages passed down from Axies to descendants.

Before you can begin playing the game, you need to collect three Axies, and the prices for the Axies depend on their rarity and uniqueness. A key aspect of one of the top NFT games is the indigenous ERC-20 utility token, Smooth Love Portion, or SLP. 

Players get credits as rewards for completing missions, playing adventure modes, or participating in player versus player battles.

  • CryptoKitties

In terms of play-to-earn games with a bit of fun, CryptoKitties is a top contender. The game is simple and is based on Ethereum.

You have to collect and breed cats on digital platforms. The game showcases the unique attributes of digital cats. A special feature of CryptoKitties is that you can buy, sell, or breed virtual kittens through its marketplace.

  • Gods Unchained

The free-to-play game Gods Unchained incorporates elements of NFT into a traditional card game. Cards can be picked up either by purchasing them from other players or winning them in matches. The game focuses on both tactics and skills.

  • F1 Delta Time

One of the top choices among the upcoming NFT games is F1 Delta Time. Users can play in different racing tournaments similar to those found in Formula One games. You can collect race tracks, cars, drivers, tires, and trinkets. Various racing qualities of collectibles are available, and they are made in limited quantities only. There are also rarity tiers for tradable collectibles.

  • Splinterlands

It’s just another card game with similarities to God’s Unchained. By playing new games, players can earn rewards. For starting the game, players must purchase a set of cards and reveal the cards they took in the game. You can also participate in missions and take on other players in combat once you are comfortable with the cards. You can earn more cards based on the results of your missions.

To sum up

Initially, NFT games may not be your first option. However, they have transformed your perception of gaming. They enable you to earn money from your efforts. 

Players can generate, breed, or collect their assets in the most popular NFT games. Since unique assets or collectibles are rare, players can expect favorable returns. Because of their value, NFT games can change your perception of gaming.