Last Updated on January 25, 2024 by newseditor
There have been several noteworthy developments in the gaming world in recent years. With the integration of blockchain technology and the metaverse into online gaming, there are more opportunities for both video game developers and players. The Game-Fi industry has found a high potential with the introduction of NFT games.
NFT games are designed to create value and offer users the chance to get real utility for rewards/assets obtained through regular gaming, in-game purchases and marketing campaigns. It adopts the play-to-earn strategy, where gamers can gain a real-life advantage over their in-game assets. Therefore, users can trade crypto rewards and assets in the game for fiat currency which can be used on exchanges. This article will explore the NFT gaming sector and how it works. Find out more below!
What are NFT Games?
In traditional video games, players can earn things and coins by progressing through levels or winning battles. However, the players cannot access these prizes outside of the game; they remain inside. On the other hand, NFT games allow players to trade their winnings for cryptocurrency or move them to another game.
Since in-game items are NFTs, they enable you to purchase, sell, and trade with other users on the platform based on your preferences. NFT gaming is built on blockchain technology, with Ethereum and BNB chain as the main platforms.
What Are The Benefits of NFT Games?
There are several benefits to playing and earning from NFT games. Compared to traditional games, NFT games offer the following qualities:
Monetization
NFTs can be freely purchased, sold, or traded on open blockchain marketplaces by players who buy or earn them in-game. Developers can receive royalties when the NFTs they designed are sold on the market.
Control over in-game assets
NFT games allow players to have total control over their possessions. This is a desired option since it allows consumers to make money when they sell their NFTs in Bitcoin. Having physical assets may also be a dependable source of revenue and increase the incentives to play blockchain-based games.
Interoperability
NFT games’ in-game items can be used with other NFT games. That is, given they are created on the same blockchain, you can easily use the in-game stuff of one game in another.
Immutability
NFT in-game items exist independently on a blockchain, meaning you can still buy or sell NFTs on the market no matter what happens to the game.
How To Earn Money From NFT Gaming?
To participate in a game, a participant must first register an account. It typically appears on a digital platform or mobile app. Installing an NFT wallet utilized in a game and having a cryptocurrency wallet are required to start.
The NFT gaming industry encourages in-game asset purchases and not just game monetization, unlike most play-to-earn platforms. Players must frequently purchase some gaming NFT assets before they can begin playing an NFT game.
Examples of Top NFT games
- The Sandbox
- Dogami
- Gold Fever
- God’s Unchained
- Guide of Guardians
- Silks
- Wizards
- Axie Infinity
- Illuvium
- Battle Racers
