NFTs! NFTs! NFTs! You've heard this term a lot lately, and the frenzy is well-founded, as it has taken the gaming industry by storm. NFTs continue to make headlines when they sell for millions of dollars, and they're still flying off the shelves online.
Jumping on the bandwagon, let's discuss why there's so much buzz about NFTs and what exactly has driven them to revolutionize the gaming industry.
NFTs and gaming are unquestionably a winning combination, and it all began with the CryptoKitties frenzy in 2017. Since then, NFT games have evolved and started play-to-earn models. Increased acceptance of NFTs has ushered in a profitable era for the online gaming industry.
NFT in the Gaming Marketplace
NFT games are blockchain games in which NFTs (non-fungible tokens) can represent any digital asset, such as game characters, in-game objects, and so on. These games allow players to buy in-game collectibles that can be used to accomplish tasks.
Each of these items is one-of-a-kind, and if you have them, you can trade them for tokens like bitcoins or sell them to other players in the game or on other NFT marketplaces. To put it simply, with NFTs, players own and control whatever they buy, earn, or make. Moreover, consider the advantages of exchanging resources, which not only add value to the game but also serve as a form of investment. Thus, games using NFTs are not only entertaining, but they can also be profitable.
NFT Games and Money Making
NFTs are different from cryptocurrencies since they are embedded in the blockchain. As a result, users can buy virtual land, create property, manage businesses, and communicate with other users using avatars in virtual games.
The amount of money you can make playing an NFT game is determined by the game’s mechanics and market demand. Every game has its own set of collectibles that add to the fun involved. In addition, you’ll earn money from other players who value the NFTs or cryptocurrencies you obtain in the game.
Play-to-earn NFT games allow players to make money while they are having fun. A player is typically paid with tokens and, on rare occasions, NFTs, with the longer they play, the more they earn.
Play-to-earn has proven to be particularly popular with users in low-income regions as an option or addition to fixed income. For example, Axie Infinity is one of the most well-known play-to-earn games.
It allows players to bring their NFTs into battle with other players, significantly increasing character game interaction. Due to the combination of online games and Blockchain technology, It is now the most expensive NFT collection, with estimated sales of more than $1 billion this year.
Why is NFT game development trending right now?
The latest exponential rise in overall awareness and popularity of NFTs is also propelling overall demand for them. This is because they allow game owners to enjoy more control compared to traditional games. Players have earned a lot of money by making in-game purchases, and they never exclusively owned the stuff they bought until NFTs arrived and changed everything.
When you acquire something in a blockchain game, you become the sole owner and enjoy absolute ownership of it. As a result, plenty of blockchain game ventures are now emerging due to the NFT app development platforms' popularity.
You can access the game's in-app purchases with NFTs even if the game is shut. In-app purchases in traditional online games cannot be transferred because the game creator retains ownership rights. With NFTs, once a person buys an asset, they have complete control over it, complete access to it, and can do whatever they want with it. NFTs can be kept for profit or used in similar games.
When you put it all together, you can see that NFTs are the perfect recipe for mainstreaming mobile gaming. It’s understandable that existing game limitations will be solved in the next generation of NFT games, offering gamers a better gaming experience and quality. All developers need to do now is implement a play-to-earn strategy.
Players should not feel obligated to 'work' to gain money. Instead, they ought to have a good time while earning money. Thus, if users play an NFT game that is intrinsically fun, they will regard gaming as a safe natural source of funds to supplement their income. Playing an NFT game that is faster will also help the cause.
Cubix' take on the NFT Game Trend
When looking at the current condition of NFT usage, it's clear that the tokens are transitioning from gaming to asset virtualization. However, the NFT market is still relatively new, and it is in full swing with experimenting.
NFTs provide gamers with diverse choices to earn real money. However, the genuinely new business is in creating your own NFT platform that’s relevant to the gaming industry, which can attract players, artists, developers, and anybody else involved in the video game industry.
As a worldwide software development company with game development and blockchain expertise, Cubix has prominence in the NFT game development industry. Currently, Cubix is building MicroPets, a mobile game for Android and iOS that will use the Binance Smart Chain to ensure unique pets for players to win, buy and own.
The play-to-earn model and NFT gaming trends are expected to continue evolving as NFT games eventually consolidate their position. The emergence of a massive market is almost certain, with players having the opportunity to hold large sums of money. You might see full-time gamers grinding day in and day out, then selling the property they've built to other players who don't have the time to devote hours to the game each day.
As for NFT video games that are a relatively new phenomenon, individuals have jumped on the crypto bandwagon, primarily because of the high returns they provide in the actual world. However, safe trading, ownership rights, and the ability to transfer assets to another player all raise the bar. Now developers must demonstrate to the world what they can do with it.