NFT Games have taken the gaming world by storm in recent years, allowing players to own and trade virtual items within a game. NFT games are an innovative way for developers to create new revenue streams while offering players the opportunity to earn rewards through “play to win” models. In this blog post, we will cover everything you need to know about NFT games. Keep reading!
What are NFTs?
Non-Fungible Tokens (NFTs) are tokens created on networks blockchain certifying ownership of digital assets. Players of certain games can earn one or more NFTs through gameplay. These tokens become your property and can be used within that game or transferred as a form of payment. Furthermore, each token is absolutely unique.
Their possession adds another layer to an increasingly digitized world and enables new ways to exchange and trade digital assets. NFT gaming has created a new way for players to capitalize on the game and establish value from their virtual assets. By investing and acquiring these digital tokens.
This has not only revolutionized the gaming industry, but has given gamers the means to invest in creative content that directly appeals to what interests them.
How do NFTs work?
NFTs work through technology blockchain, the same that constitutes the base of many cryptocurrencies. Instead of relying on a centralized server or provider, transactions in this system are managed and secured through multiple “nodes” connected on a chain.
Each node builds on the previous one, forming a robust data record, containing dates and information about each transaction. This distributed approach offers added security to digital asset owners, giving them confidence that their digital goods and services will remain intact.
The underlying blockchain architecture also allows for the almost instantaneous passage of money and data across digital borders. Non-fungible tokens (NFTs) are securely assigned a digital certificate of authenticity, which helps ensure originality and traceability of ownership.
This metadata includes an immutable record of the item's initial purchase price, any relevant acquisitions or transactions, and its originator; thus facilitating an immutable ledger to form an accurate and complete audit trail.
Therefore, if NFT-backed digital content is purchased, a record of both its initial price and how much was paid for it will be available at all times during any exchange. This is conceptually similar to buying a painting and keeping track of exactly where it has moved over the years.
Definition of NFT games
NFT gaming is an innovative form of gaming that leverages non-fungible tokens, cryptographic items that are securely stored on a platform powered by blockchain.
These items are not only very safe, but also offer players the opportunity to interact, purchase avatars and weapons, and even earn cryptocurrency income through a “play to win” system.
What is unique about NFT games is that all the in-game tokens have been created, managed and distributed through blockchain technology; this ensures that players have full ownership over their assets with options to trade them, create them, and deploy them as they wish.
Additionally, developers can use smart contracts to set rules connected to these tokens, so all players know what to expect from each asset or game piece. All in all, NFT games provide a revolutionary way to experience online gaming.
How NFT Games work
NFT games go beyond just having crypto-collectibles in your wallet. They harness the unique and powerful advantages of NFTs, cleverly integrating them into game rules, mechanics, and player interactions to create a more strategic and intense user experience.
Take, for example, the popular NFT game Cryptopets, in which each player is represented as a unique character or avatar in the form of an NFT. Digital items found while playing the game could also be certified player property as NFTs, giving them value and maintaining their provenance across the virtual world.
Additionally, these digital assets can be used to barter or trade with other players, often generating real-world benefits and creating a whole new revenue stream powered by NFTs.
The process of implementing non-fungible tokens (NFTs) in a gaming environment requires careful technical planning on the part of developers. Smart contracts are key elements in this endeavor, as these self-executing pieces of code stored on a blockchain build the foundation for exchanging, creating, and deploying NFTs.
Special care must be taken when creating a smart contract, since if any element is not coded correctly, the functionality of that NFT will be impaired or completely disabled. Although creating and coding your own business rules for each game can take more time and energy, it ensures that the game mechanics are cohesive with its overall structure.
Types of NFT games
play to earn
Play to Earn games allow users to create a secondary source of income through engaging gameplay. This can be achieved in two ways: Token rewards and limited edition Non-Fungible Token (NFT) distributions. Players often receive tokens for their participation in the game, which are then used as part of the game's craft economy.
Instead, NFTs have a higher value, but arrive at random intervals, making them more difficult to obtain. Despite this, both reward methods offer players tangible financial benefits that depend on their level of commitment to the game.
The blockchain token-based gaming method often offers more stability compared to games that are based on NFT distributions. This is due to the fact that tokens are often earned by playing games, whereas NFTs can be considerably more dependent on luck.
For this reason, the “play to earn” model of many blockchain games has become very popular among players from low-income countries, as it provides an alternative or additional source of income to their traditional salary or social security.
What is also notable is that users have been able to create true digital economies within these games thanks to their level of trust through the use of immutable and transparent distributed ledgers.
click to earn
Click to earn games have gained popularity recently, offering players the chance to enjoy a more relaxing gaming experience. By taking the complexity out of the game and focusing on easy goals, these titles offer those who don't have the time to commit to difficult challenges the chance to stay engaged and reap rewards.
Although the management of the economy in this type of titles involves some strategy, it is usually minimal compared to conventional video games. This makes them great entry-level experiences into the world of gaming as a whole, and great options for those looking for shorter periods of play but still satisfying completion.
Launch of an NFT game
NFT video games follow a simple process to become playable.
- Launch of a project, usually a beta version is made.
- Some projects are accompanied by an OID (Initial Dex Offer) although not all do, an OID is a prior sale of the associated cryptocurrency.
- Launch of a pre-sale where you can purchase some NFT of the game.
- Launch of the token for private and then public sale.
- Publicly launch the game.
Game development in the form of NFTs is a highly collaborative effort, with the user playing a role at every phase. For starters, users can invest in the in-game cryptocurrency to fund the game. They can then choose to purchase one-of-a-kind NFTs during the pre-sale or public sale.
Lastly, while playing the game, users have the opportunity to generate income by selling their assets. This is just a basic example; however, it demonstrates how interactive and rewarding an NFT gaming experience can be when all parties are fully involved.
Some NFT games
Axie Infinity
Axie Infinity has quickly become one of the most popular “play to win” games. In Axie Infinity, players can start with an initial investment to buy three Axies or even receive a free donation from another player.
Similar to Animal Crossing or Pokémon Go, users are presented with tasks and challenges as they progress through the game; Unlike other online gaming experiences, however, by completing these tasks, players have a chance to win a Small Love Potion (SLP), which is an ERC-20 token that can be traded on exchanges for real money.
This feature makes Axie Infinity stand out from typical online gaming experiences as fun and rewarding for your players.
sorare
sorare is transforming the world of fantasy sports with blockchain technology. It's a fantastic way to experience soccer like never before, building teams from trading cards with players from the real world. With increasing reward levels, the stakes are higher than ever – you could level up and even win big if you play your cards right.
Whether you decide to explore the game casually using free cards or take it to the next level by investing in tokenized cards.
Gods Unchained
Gods Unchained is an NFT card game on the Ethereum blockchain, similar to other big games like Magic The Gathering or Hearthstone. Players create unique custom decks with multiple powers and strengths to compete against each other.
If players beat Scheduled Matches, they are rewarded with Flux, which offers the ability to create extremely powerful NFT items. These NFTs are exchangeable for tokens, cryptocurrencies, or can be played to earn both virtual money and in-game credits.
This idea called “play to earn” has significantly increased the use of NFTs as a mechanism to invest in the video game industry.
Conclusion
NFT video games have revolutionized the gaming world, offering players new and exciting ways to interact with their favorite characters. By leveraging technology blockchain, NFTs allow a secure environment for users to invest in digital assets, while having the opportunity to generate income from these investments.
Whether you choose to casually explore an NFT game or take it more seriously by investing in tokenized cards, there are many options available that offer rewarding experiences. With many popular titles like Axie Infinity, sorare y Gods Unchained Already on the market, this form of gaming is quickly becoming a staple within the industry.
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