Non-Fungible Token or NFT is gradually capturing today’s world. NFT art became hugely popular among people and now people are buying NFT art with trust and real money. As we are entering the metaverse world, the game developers now have also started entering the NFT gaming market.
Game markets are more popular than the film industry. This entertainment industry earns more revenue than the global movie and North American sports industries combined. Over $100 billion in revenue is earned by the game industry annually. But now, things are beginning to change. People want to earn money while spending time in leisure.
NFT gaming enters the scene. The idea behind NFT gaming is to prove ownership of the game resources where people earn by selling their game resources to others. Let’s dive deep and unravel how NFTs are shaping the viewpoint of gamers who are not only confined to playing games for fun but also for earning a living.
What is NFT Gaming all about?
NFT gaming simply uses the cryptocurrency concept in the NFT game field. Players can send, receive and trade their favorite game characters, features, weapons, or other usable items to other players as non-fungible tokens. This token also carries the digital identity of the owner. The owner uses a cryptocurrency platform as a currency medium to trade the items.
Blockchain uses a secure database that holds all the information of all the users. So, players don’t need to worry about their earnings. Whatever, he earns, whether it’s a game item, money, or identity; all things are in the safe place of the blockchain database.
So, the gamers and developers just need to think about the gameplay, their strategy, and the development of the game. And, if all these successes, a gamer, and developer both start to earn through their favorite entertainment.
Unique Features of NFT Gaming
NFT games are becoming popular due to their 4 unique features. These features differentiate NFT gaming from traditional gaming. Let’s find out the unique features of NFT gaming that make it so exciting.
1. Proven Ownership and History of Ownership
All the gamers and game developers have a digital identity in the Blockchain world. All these identities are unique and verified. Here, if a gamer owns something it becomes permanent for him until he hands over the ownership. This ownership can be seen by every blockchain user.
Not just other users, blockchain authority members can also view the history of ownership of a game item. It means that the creator and user of the specific game item, are all recorded on the blockchain database.
Let’s discuss further with an example. Say, you have created a game. In the game, you develop battle axes. You need to verify these battle axes as a game item. It’ll be used by the player to go ahead in the next game stage. Now, when the game launches in the NFT marketplace, all the players can identify you as the creator of the game.
If you want to hand over these battle axes to another player, this history will also be recorded in the database. So, all the players can easily know how many times this game item is traded, and who occupies this item. This also provides an idea of the demand of these battle axes.
2. Provable Scarcity
In the NFT world, scarcity is what makes the art, game, or other forms of NFT so expensive. In NFT gaming, there is also provable scarcity and this scarcity is fixed. It can’t be changed or extended.
When a game developer launches a game in the NFT marketplace, he needs to define the quantity of the game items. These game items are fixed. Until the last day, it won’t increase or decrease.
If a game developer declares that in his game the quantity of the battle axes will be 50, then no matter how many players come to the game field, all need to fight for those 50 battle axes. It can be achieved through in-game play or can be collected from another gamer who owns it.
3. Immutable and Uneditable Assets
Once the game items are verified by the blockchain database, it can’t be changed or edited. The game item will be in the same format, shape, color, and material which is defined by the creator.
If the battle axes are initially made from wood handles and there is a gold finish at the top, then these battle axes always look the same and carry the same material. No matter how many times the game is updated, no one can change the initial image of this item.
NFT game items are accessed by everyone. Anyone from any place can collect, buy and sell the NFT game items. There are no restrictions to buying NFT game items. If you love it, you can earn it- is the simple formula of owning an NFT game item.
NFT Game Development Time Frame
Computer games or Real games were developed first in the 1950s. This real game is still popular in the marketplace. Whereas, NFT games are just entering the market. The time frame of the NFT game development is categorized into 3 lengths.
1. Development Phase
2021 is counted as the development phase of the NFT game. After experiencing huge success in NFT art, the game developer became interested in introducing NFT games in the blockchain world. From then, the NFT game was initiated in the NFT game world.
2. First Release
In 2022, some of the games will be released on the blockchain marketplace. The terms and conditions are developed at this time. People get to know about the NFT game and with time, more curious NFT enthusiasts desire to explore the NFT world as a gamer or game developer.
3. Mass Adoption
NFT games are right now in the initial phase. But, it’s estimated that in 2023-2024, this game field will explode. Gamers and game developers will come in a huge number to adopt this new gaming field.
According to existing NFT gamers, it’ll be a good idea to enter this game field now. Because, when the market matures, there will be a lot of competition. The more game items you can earn now, the more value you may get in the near future.
How to Play Blockchain Video Game?
If you have access to the blockchain then playing a blockchain video game wouldn’t be too difficult. All you need is to access the marketplace through web 3.0. Metamask and Drapper wallet to help you to start playing video games. The starting of the blockchain video game follows two steps:
Buy The Game
Both real-world and NFT games follow this first step. If you want to play the game, you need to buy the game first. Ethereum address (wallet) is used here to complete the transaction to buy the game.
Some game developers offer free access to their games initially. It is done to gain popularity. If you are unable to purchase NFT games, you can definitely try the available free games. You will also receive the opportunity to become the owner of the game items. But, free games sometimes hide some unique features from the free players.
Play The Game
All you need to do is play the game. The better you play, the more chances of owning game items personally. If you started playing a game just after its launch, there is a high probability that you know the strategy of the game more correctly than the players who enter after the market matures.
Until now, most of the NFT games are designed for computer browsers. So, you can get a smooth gaming experience if you access the game through the computer. Some game developers are working on creating mobile apps so that NFT gamers can access the games through their mobile.
Traditional Games Vs NFT Games
People are getting more used to the traditional game. Whether you have a computer or mobile, you can access any real kind of game through the screen. But, do these games give you any value when you are spending a lot of time and energy by playing them? Entertainment can be an answer.
We all play games for entertainment purposes. We earn coins, weapons, upgrade to higher levels, and new characters while we play. But, they don’t sustain for a long time. As long as you are attached to the game, your characters are developed. But, once you stop playing the game, all your hard work, all your collection goes in vain. There is nothing to go forward with.
Playing the same game over and over again can become monotonous. We might even question our purpose for playing and eventually lose interest. And when you no longer feel attached to the game, uninstalling the app erases all your collected achievements and everything you’ve gathered through playing for a long time. However, things are not the same in the NFT world.
NFT games play a different role. Playing games is no longer a matter of wasting your valuable time. In the NFT game, all your collections will be saved in your account. You can use your game item whenever you want. Not only this, you can send, receive and trade your game items too with another player through blockchain transactions.
NFT game characters are not only confined to one game. A game developer can use an existing game character in his newly developed game. And, if you already have this character, you can use this item to play that game.
There is scarcity in NFT game characters. So, people always look for buying the game character if they can’t earn the character through playing. If you already have that character, you can raise that character in the auction to sell. A smart contract will ensure a trustable transaction between the buyer and seller.
To make things clear to you, let’s discuss the both NFT game and the Traditional game with an example. Let’s continue this discussion with the example of the GTA vice city game.
In the GTA vice city game, gamers need to collect cars, armor, and money to pass different stages of the game. When a gamer stops playing the game, all his collection is gone and he needs to start from scratch.
But, if this GTA vice city game is developed by an NFT game developer, then he needs to define all the quantities of the car, armor, and money in the blockchain database. If he develops the game with 100 cars, 20 armor, and $1000 cash, then all the gamers will fight to collect those limited numbers of cars, armor, and cash.
Here’s where the transaction part begins. As the game items are limited and the game is also becoming popular then the gamer becomes interested to collect those items from the owners to pass to the next level. The gamer will look for a gamer who owns those items and collect the items through an Ethereum address (wallet).
The more time passes and the more popular the game becomes, game item owners have more chances to sell the item at a high profit. Gamers can collect these armor, car, and cash in 3 ways:
Through Playing the Game – The more the gamer plays the game, the more he’ll get the chance to collect scarce resources.
From Game Creators – Game creators sometimes give away scarce resources to another gamer. They do this to make their game popular with others. Through this giveaway, a gamer can be an owner of a limited game item.
From Other Games – In the game creator universe, the game developers sometimes check other game characters. Anyone can log in to anyone’s game profile to see what is left in his bag. If a game creator thinks a game character from the other game matches with his game, he can use that character to his game by declaring about this character in the blockchain game universe.
Now, the gamer who already owns that same character can use his character in the newly developed game. In this way, one can become an owner of one game item before releasing the game.
How to Create Game Items
Blockchain allows you to create game items and store their info. To create a game item, one needs to declare the following things:
- Item Name
All game items should have an item name. If you developed a pistol as armor, you need to define its name according to you. Such as, you can name the armor as a platinum pistol.
- Item Picture
The newly created game item should be contained with a picture. You need to add that picture in the database so that no one can copy, change or pirate your developed items.
The amount of the item that will exist in the NFT gaming world needs to declare initially. If you declare that there will be 50 armor in total for this game, until the end, no one can increase or decrease the quantity of the armor for this game.
The owner of the game will be declared in the game initially. Mainly the creator is declared as the first person about who owns the start and owns the game items. The owner can select another person as a partner of this game.
NFT Gaming as Investment
As NFT provides an opportunity to trade, sell and buy game items, gamers can take this as a chance of investment. This investment is mainly generated on the basis of some beliefs.
- More People More Demand
When a huge number of people get interested in an NFT game, the demand for the scarce game items will increase. And, this is the main target of the gamers and developers who are spending their time, energy, and ideas in the NFT game field now.
If a gamer collects and stores his game items now, then in the future the demand can increase the price of those stored game items. Selling the stored items in the future can be a good source of earning a good amount of money.
- Pre release game creates initial hype
There are some games that create hype before release. Game creator universe gives free giveaways to the pre-release game items. That makes the game more popular. Creators sometimes hold some game items in their hands and sell them at a good price when the hype crosses the limits.
Existing NFT gamers enter the marketplace early to collect the game items as much as possible. They also create hype about the game and sell their collected items to the new gamers before the market becomes saturated.
- Investment of Flop NFT Games
Generally, to buy an NFT game, a gamer costs $50-$150. Some offer free games too. But, all the games haven’t become popular. In this case, the game item owner can trade his items against cryptocurrency to the marketplace. The price may not be high as expected but, still, the gamers can earn some from owning items.
Flop game characters are sometimes used in the new game. In that time, the flop game item holder can access the new game with his previously achieved game characters. Gamers can earn items with their previous games items from the new game. And, if this succeeds, he can happily trade the new game items to others.
Can I Lose money playing NFT games?
You can lose money playing NFT games. Mainly earning and losing money in the NFT game depends on the mechanics, terms, and conditions of the NFT games. Unless you are scammed, there is less chance of losing money through playing NFT games.
But, the wallet you are using for playing the game can fluctuate your money value. If you are using a stable wallet like an Ethereum address for investing in an NFT game then there’s less chance of losing money. New cryptocurrencies have a high rate of fluctuations and using them to play NFT games can decrease your monetary value.
Can I Lose My NFT’s?
It’s a common fear among people that playing games can lose your NFT. Blockchain uses a computer-coded system to manage the database. So, there is little or no chance of losing NFT from the account without any valid reason.
But, you always need to handle your NFTs carefully. An insecure move with NFTs can cause you to lose your NFTs. You may lose your NFTs in the below possible ways:
- You get scammed or send your NFT’s to a scammer
- Unintentionally, you give access malicious smart contract to your account and it takes your NFT’s
- Transfer NFT from one wallet to another that doesn’t meet NFT standard
- You lose NFT due to the game rules.
Unless the last point, you can save your NFTs if you become conscious during the transaction. Before giving permission to any smart contract, be 100% sure that it’s not a malicious account. Handling the account by following standard rules will decrease the chance of losing your NFT.
What are the names of Popular NFT Games?
NFT games are still developing. There are fewer NFT games in the blockchain games field. Some of the popular NFT games are:
- Axie Infinity
- Gods Unchained
NFT games are still new in the marketplace. They are becoming popular gradually. Ownership of a game item, scarcity, and immutable asset make it interesting to the people. The secure blockchain transaction allows people to earn either real cash or cryptocurrency through playing or developing NFT games.
Media and sponsors are also becoming interested in this field gradually. In the near future, game enthusiasts will feel the same pride by owning a game item; what he feels after collecting a real-world sports jersey from a popular player.