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The era of NFTs has begun now! Everything is an NFT. From image files to domain names, it is hard to find something that cannot be turned into NFTs. The prowess of non-fungible tokens has entered the gaming platform and it is changing every functioning of the gaming platform into something special. Ever since its inception into the gaming industry, in the beginning, the combination of these technologies gradually started to raise and now it has taken over the entire gaming industry.
The Rise Of NFT And Blockchain Games
In classical games, the gaming platform was built for the gamers but it was completely focused on the gaming company and the developers in terms of profits and revenue. The players never got to have a share in the distribution of the profits of the gaming platform. To overcome this challenge and transfer the control completely to the hands of the gamers. This transfer of power is completely based on the concept of blockchain and NFTs.
Blockchain is the latest technological revolution that has entered the future of technological advancements. This is basically a digital ledger that stores all the information and data of the transactions that take place. The security of the information and data of the digital platform is done by storing them in a block and these blocks are being added to the chain-like structure, where it holds stable connectivity between the systems. Therefore, it provides perfect security features to the platform. By adding this technology to the gaming platforms, it creates a strong platform that cannot be interfered with by third parties. Hence, the distribution of the cost is directly shared with the players. Hence, coining the term called “Play To Earn”.
Impact Of NFTs On Gaming Platforms
Non-fungible tokens are basically digital assets. These digital assets can be anything; pictures, video clips, domain names, artworks, trading cards, etc. The main advantage of NFTs is the ability to secure ownership and transfer it safely to the buyer. Thus, data manipulation and theft are eliminated. In blockchain games, the in-game assets are represented as NFTs. These NFT in-game assets are awarded to the players when they complete levels or buy these NFTs via in-game money or fiat money. The in-game asset NFTs are mostly in the form of weapons, skins, inventories, magic, game experience, and much more. Since they are in the form of NFTs, they can be easily traded over secondary marketplaces and liquidity is gained immediately.
Benefits Of Play To Earn Blockchain Games
NFT games do not suffer a loss of saved game data. This is possible by the utilization of blockchain technology. Each and every game data is stored in the digital ledger. Hence, when there is an abrupt shutdown of the game, the game data is not erased.
Liquidity is gained in an instant. Since it is based on blockchain technology, the involvement of third parties is removed. Hence, there won’t be any delay in the transaction of the in-game NFT. These NFT assets are traded on secondary marketplaces and are monetized in no time.
Transparent is maintained at a high level. The blockchain network displays every detail of the gaming platform to the involved players. Thus, players cannot cheat or use mods to upgrade their playing level illegally.
Top 5 Emerging Play To Win NFT Games Right Now:
Axie Infinity
Axie Infinity is one of the most popular NFT games in the digital space. This gaming theme is very much similar to the Pokemon games. The players have collected monsters called Axies and breed and train them for battles. These battles are PvP based battles. Hence, winners of these battles gain rewards. These in-game monsters are represented as NFTs. Therefore, these NFTs can be traded over various secondary marketplaces to gain liquidity.
Sorare
Sorare is one of the trending sports-themed NFT games in the present market. This game is a trading card platform that has various cards based on the rarity of footballers. This rarity is provided to the card based on the performance of the players on the pitch. Hence, these cards are represented as NFTs.
Evolution Land
Evolution land is one of the most promising NFT games now. This game is based on the concept of building cities, where players can buy lands, buildings, and also buy places to expand their places. The continents that are available in the game exist on a different blockchain network. This NFT game is based on the core of collecting rewards. Therefore, it is very popular and the NFT in-game assets are traded extensively over marketplaces.
Gods Unchained
Gods Unchained is a trading card-based NFT game. The trading cards in the game are categorized based on the rarity of the characters of the game. These trading cards are represented as NFTs. These NFTs can be traded for greater rewards in the future.
Cryptokitties
Cryptokitties is a very popular game. This is often known as one of the pioneering games in the crypto space. In this game, the digital cats are represented as NFTs. Breeding and training these cats hold value for the rarity of the assets. Hence, these NFT based digital cats are traded for instant rewards and profits.
Play To Earn Games Future:
NFT games are the next big thing in the crypto space. They are going to be a very dominant force in the near future because of their salient features and benefits. Hence, it would be a perfect opportunity for players to earn an immense level of profits and even better, to start their own business platform in this domain. Thus, the future of gaming is dependent on the elevation of blockchain and NFTs.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Oliver Tearle Head of Technology Innovation at The ai Corporation
23 June
Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.
Parminder Saini CEO at Triple Minds
19 June
Mathieu Altwegg SVP Head of Product and Solutions Europe at Visa
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