NFT gaming is an exciting new concept that exists; thanks to the recent popularity explosion of NFTs. The buzz and craze over NFTs caused developers and organizations to pursue NFT gaming solutions. An NFT gaming platform provides users with a real-time gaming experience and access to cryptocurrencies. These games follow a play-to-earn pattern where users earn rewards from being active on the platform.
NFT gaming solutions are a welcome addition to the global gaming community and beyond. Crypto buffs show immense interest in investing in the platforms. Investors see the money-making possibilities here, and gamers have a way to monetize their favourite pastime.
How do NFT and gaming go together?
Superficially, NFT and gaming are two separate components. However, they have an underlying connection that enables them to work together in the market. Gaming can take place on digital platforms or outdoors. NFT gaming is a new concept that not many remain aware of.
The terms NFT gaming solutions and crypto games are often thought of as the same topic. Several differences separate the two. For example, crypto games involve crypto token transactions among the players. An NFT gaming marketplace is where users utilize native tokens and collect NFTs. Here, players have the chance to access the marketplace and trade or sell their tokens for a profit.
NFT games generate high revenue by providing access to assets, tokens, avatar skins, weapons skins, rare items, powerful equipment and other options for users.
Benefits of NFT gaming platform development
NFT gaming platform development creates several benefits for an organization. These include:
A sense of ownership
The traditional gaming world is where the rewards or assets are non-transferable and remains limited to that landscape. NFT gaming platforms give players ownership retention of their in-game assets. Rather than outright purchasing them, a user can get or trade the items for others. Also, the player can sell or trade the NFT tokens they win on other marketplaces or platforms.
Enhances the lines of communication
A successful NFT gaming platform exists on a blockchain network. The network is a backend and connects to other gaming platforms. This connectivity ensures that assets minted as an NFT can be interoperable and function across several gaming marketplaces.
Immutability
When a traditional game shuts down, or the servers lose its data, users lose their in-game items and earnings. However, that problem does not exist in the NFT gaming platform. These sites exist on a blockchain network. The player can still sell and buy tokens even if anything happens to the site. Also, NFTs cannot be fabricated or duplicated thanks to the nature of blockchain. Blockchain stores a permanent record and maintains the ownership history of every NFT.
Scarcity
NFTs can provide authenticity and uniqueness to an item and asset. These characteristics are why users prefer bidding on them. The asset scarcity is recorded in the blockchain’s public ledger. The network stores this data and validates the uniqueness of every NFT along with its history and scarcity.
Benefits of NFT gaming for gamers
- Asset creation inside the gaming platform
- Decentralized games and marketplaces
- Greater gaming connectivity
- Data security and immutability
- User identity protection and privacy
- Monetizing digital assets
Why use NFTs in games?
NFT gaming enables users to retain ownership of an in-game asset or item they won or purchased. These assets have a unique identity that is bound to the user’s account. The player can track their assets, determine their value through scarcity and trade them on NFT marketplaces. Here, the player can sell them for cryptocurrencies or fiat money.
Additionally, NFTs enable a player to establish a digital identity for their games. This approach results in a unified gaming experience.
Successful Game based NFT marketplaces
Axie Infinity
It is a fantasy monster collecting game that rose to prominence in 2021. The game infuses the use of NFTs through an innovative approach. The platform uses AXS and SLP as the native tokens, and the platform has an estimated collection nearing fifty million USD.
Splinterlands
Splinterlands is a popular free-to-play card game. Here, the player collects cards and plays against other players. Players who win these matches earn several rewards.
Gods unchained
This game is famous for merging several NFT components with a typical trading card game. Players earn rewards through PVP matches or buying them on the game’s marketplace.
Sorare
Sorare is a fantasy game that appeals to the soccer fans in the world. Here, players can sell, buy, manage and trade a virtual team through digital player cards. These virtual teams can earn player rewards by beating other teams. Each card features a real football player, and the game ranks these cards based on the football player’s performance.
Conclusion
NFT gaming platform development and NFT gaming solutions are lucrative options for any business or organization. The names listed above showcase how NFT games can be a welcome addition to the gaming landscape. As the NFT world sees new changes every day, it is exciting to see where NFT gaming can go from here.
