NFT Games are probably the leading NFT use case and why are marketplaces their integral part?

NFTs, or Non-fungible tokens, are becoming mainstream. It means more people are looking for ways to build upon the interest in these digital assets. Why do we think that NFT games are the future of gaming and what games could be catchy for you? Continue reading and find out.

Non-Fungible Tokens are basically unique digital assets. By tokenizing the asset, you guarantee that you own it and that it is unique. The ownership of NFTs is then managed in a decentralized manner by the blockchain.

Some people are comparing purchasing NFTs to owning an original artwork. What is similar to both cases is that the buyer owns the original item and the title for it. BUT there could be reprints. The original piece of artwork still holds more value than copies, as a matter of course.

The Tokenization of non-fungible assets has created infinite possibilities for blockchain asset digitization. Blockchain offers the collectible market much more security. Particularly when it comes to ensuring assets´ authenticity and eliminating counterfeiting. NFTs are popular in the gaming ecosystem, but besides gaming, NFTs can be used to digitize anything considered to have value

What are the benefits of NFTs in games?

  1. They offer exclusive gameplay with customized virtual assets
  2. Demand in exclusive assets increases your token value.
  3. Developing NFT games offer huge revenue-generating opportunities.
  4. NFT gaming assets are interoperable and can be used in any game with the collaboration of developers.
  5. Same NFT game assets cannot be used in multiple games to maintain scarcity.
  6. NFT games facilitate earning possibilities in NFTs instead of real cash.
  7. Developing an NFT marketplace for games attracts a huge audience to the marketplace.
  8. The cost of the game assets will be transparent in the NFT Marketplace.
  9. The revenues in the game will be transparent among the gamer’s community.
  10. Facilitates contribution rewards for gamers in NFTs
  11. Listing exclusive game assets in the NFT marketplace drives huge attraction towards your NFT as well as marketplace

Gaming NFT

Gaming is the natural home of NFTs. Gamers make the perfect target market for NFTs. They are already familiar with the concept of virtual worlds and currencies. NFTs are booming within the gaming industry. Why? They allow in-game items to be tokenized and easily transferred or exchanged with peer-to-peer trading and marketplaces. Players have full ownership of their NFTs, this makes the gaming experience more tangible and rewarding. Players now have the potential to earn money by building and developing their in-game assets. This leads the NFTs to creating a new economy. 

Ed McCormack, chief executive of Dchained claimed:

“The practice of creating digital items that are unique and can be traded based on their utility or scarcity has become a sizable economy in the gaming industry for years.”

NFT incorporation into the gaming world is also encouraging the development of an engaging and interactive community. Players begin to build an inherent community aspect through peer-to-peer trading.

Players are encouraged to unlock special accessories for their characters in many gaming ecosystems. They can be traded in-game or sold for fiat currencies. This creates robust economies in online gaming. 

Popular NFT games

There are a couple of NFT games that are popular and have really taken off.  Axie Infinity, Gods Unchained, My Crypto Heroes and Trade Race Manager. 

Axie Infinity is a digital pet community. Main purpose of this game is centered around collecting, training, raising and battling fantasy creatures, which are called Axies. The game is built on the Ethereum blockchain and is the first game on the blockchain to feature animated characters.

Gods Unchained is a digital collectible card game. The cards are issued as NFTs and players can own and trade them with the same level of ownership as physical cards. 

My Crypto Heroes is a Japanese multiplayer role-playing battle game that issues heroes and in-game items as tokens on the Ethereum blockchain. Players can level up historical heroes through quests and tournaments.

Worthy of remark is Trade Race Manager. It is the first ecosystem for gamers and traders powered by Defi and NTfs to bring you lifetime rewards that add an element of gaming to make trading a fun experience. With TRM, you can trade cryptocurrencies in a different way, where traders may bet on themselves and compete against each other in many trading contests, known as races with the unique blockchain tokens called non fungible tokens which represent your racing car and much more. Trade Race Manager is a PvP game that brings unlimited rewards and play2earn mechanics. The core gameplay is based around collecting, use and trade of Non-fungible tokens while enjoying cryptocurrency trading.

The idea about the game arose to solve the task of how to make money even during the bear markets while playing the blockchain game.

So it is up to the preferences of the player which one is the most catchy for him to play. Whether it should be NFT video games inspired, NFT card game or NFT game focused on collecting digital assets. 

NFT marketplaces

NFT marketplaces have formed as a result of the interest in NFTs. NFTs in turn have been fueled by the price of bitcoin reaching new heights in recent months. An NFT Marketplace is actually a cryptocurrency exchange. It is a digital marketplace where traders can buy and sell various kinds of  NFT tokens via different cryptocurrencies.  They are online platforms that act as intermediaries between buyers and sellers of assets. These assets are basically represented by NFTs.

The most well-known marketplaces and minting platforms are SuperRare, OpenSea, Rarible, Nifty Gateway, but there are many more.

These marketplaces can be used both by creators and by art collectors to create the NFT, and buy or sell it. Most of the marketplaces use Ether as a cryptocurrency, but there are also other cryptocurrencies accepted as well. 

Currently, OpenSea is probably the biggest NFT marketplace where you can list NFTs minted on many other platforms. So if you are a Pokemon fan, a Pokemon card NFT is still available in this marketplace and you can easily become an owner of one of them. 

As this is a fast-growing market, IOI Corporation decided to follow these trends with its new marketplace as well. The market is the new IOI corporation project as a unique digital marketplace for crypto collectibles and Non Fungible Tokens.

NFT games are a mix of thrill and potential profitability. Playing these games to potentially earn crypto requires you to learn about the game and how to win to receive monetary rewards.

Dominika

Source: www.news.crunchbase.com

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