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THE NEXT TRILLION-DOLLAR INDUSTRY: NFT GAMING

Non-fungible tokens (NFTs) have repeatedly demonstrated since their inception that they have the power to alter the gaming industry. The emergence of NFTs guarantees the birth of a brand-new, exciting order wherein gamers will play larger roles in the gaming world and reap commensurate rewards. This gaming paradigm is starting to take shape right now as more and more game developers use blockchain technology to make their games even more immersive.

ow, their kid has a couple of thousand dollars earned from playing metaverse games which used to be distasteful to the parents. The kid simply connects their wallet, swaps a couple of in-game NFTs, and pays the bills for that month, including the electricity bills and gas bills too. Now the indifferent old parents have got to start playing NFT games too.

Who wouldn't? After all, the only reason the parent put up with such an annoying boss for such a long time is that working with him helps them pay their bills, so even if they wished so passionately to leave that negative atmosphere, they need to earn for the family keeps them bringing as much as possible to earn the approval of their boss.

The story we just illustrated is one of the many stories of parents joining their kids to play NFT games that are far more rewarding than draining 9-5. The other interesting story is the millions of dollars made from selling in-game assets like pieces of land, gears, swords, and other utilities. It would almost seem like these folks are crazy, right? You have got your point, and there is no questioning this fact.

If you consider a multibillion-dollar company, and some of the most desired places to work in tech has just rebranded the company into Meta, then you might be thinking, well, are NFT games the future? And if yes, what real value do these add to the economy? I will answer that question by telling you that the global wine industry is worth billions of dollars, yet drinking can be the worst form of nuisance, especially irresponsible drinking.

So gaming does not harm, but it is pretty much like spending an entire day on Twitter, Facebook, or Instagram, which a lot of us will be guilty of more than once in our lifetime. Blockchain games are therefore a necessity that will become more crucial in the future. In this article, we will explore everything about NFT games, from the tech right to the thrill that comes from getting truly valuable things from just playing games.

We have not seen such job titles as a chief gamer yet, but we are sure this will be a thing shortly. Consider this a new kind of entertainment industry. Nintendo and Microsoft have run profitable gaming businesses in the past, so what's the harm in doing the same thing and sharing the experience and money with the world?

What is an NFT GAME?

Now let's dive into NFT games into blockchain games and tell you what you must know if you want to turn your gaming hours into an investment. By the way, did you hear about a plot of digital land that was sold for 2.3 million dollars? I am afraid that is what we heard too.

Sadly, going by the national statistics in most high-income paying countries, it is going to take around 60 years of butt-killing 9-5 to earn this huge amount of money. Thank you, Axie; a lot of people should be playing and interacting on your platform.

At a high-level NFT, games use blockchain to prove ownership of certain game assets. Earlier in 2021, we saw the NFT Art world explode and now NFT developers are jumping on board to do some interesting NFT development in the games we have ever played. If you understand the value of tokenizing games, you will see why it is here, to say and how you can make some pretty insane amount of money by playing these games. NFT games do three important things which can pass for the reason why they are important in the long-term.

First is proven ownership. By now, you should know the mechanics of blockchain technology and that a blockchain is a database that records transactions immutably. It stores who owns what and the history of the value transfer or who owned what asset.

If we have a battle-ax as an NFT, for example, the ownership of that battle-ax is tracked on the blockchain. If anyone else owns the ax, that person will continue to be the owner of the ax until it is traded or sold. The thing is, the game could shut down, yet the owner will still hold that NFT in their wallet, and they can sell the NFT for whatever asset they chose.

Next is provable scarcity, meaning that in-game assets minted as NFTs are created in defined quantities, and the information about the scarcity of the assets in question is a part of the data stored on the blockchain database . If there are 50 NFT battleaxes, there will only ever be 50 NFT battleaxes. Developers cannot just hop in and decide to do whatever they like simply because the in-game items, whether they exist in play to earn games or free-to-play games finite.

Third, assets secured with blockchain technology are immutable, which means they never change. These in-game items are also uneditable. If the battle-ax in our previous example was created with a Gold finish, it will always be Gold. Anyone cannot just jump in and change it to silver because they want it to be that way.

The fourth point is the most important feature, which is why the entire blockchain and blockchain gaming industry is valuable in the first place. Blockchain games are decentralized so you can think about it as a new decentralized gaming industry. No one owns the blockchain or plays to earn games. They are available for everyone to play and use. Are NFT games free? We will explain this properly in the next section so hold tight.

Are NFT Games Free?

What does NFT gaming mean for the entire gaming industry? Considering the traditional gaming industry, you first have to buy a game, set everything up, and start playing. If, after playing these games for a month or so, you stop suddenly to focus on something else, you will lose your time, money, and effort in one swoop.

Doesn't that sound terrible enough? Time is your most valuable asset because if you lose it, you will never get it back. The items you acquire while playing the game are stored in an inventory, and they have no value in the real world outside the game. The thing i even though you collected in-game items or purchased them, you do not own them.

In an NFT game, you still buy the game, so it is not entirely free. Remember, though, that the idea behind buying the game is by far different from that of the corporation that created the games you played in the past. While those companies' goal is like killing your time to enrich their staff, the payment made in NFT games is used to build the community and a better experience for you in the game.

While playing your preferred play-to-earn game, you still collect gears, weapons, beauty items, houses, cars, etc., but all the stuff you collect belongs to you and you alone. So you understand what is at stake here at the moment. The items you collect can also be used outside the game, and you can sell the NFTs for real dollars, which you can keep in your bank account. If you leave the game to do other stuff and you never return for a long time, the odds are those NFTs you collected must have increased in value, which leaves you richer for the time and effort put into playing the NFT game.

So NFT gaming is free to play compared to traditional gaming. Still, the value is redistributed across the community, so you have to pay a fee in the native token of the gaming ecosystem to get started. Items collected are valuable, and the gaming ecosystem advances as more people play the game and earn. Play-to-earn games are not entirely free, but the profits from participating in these play-to-earn games are huge.

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Blockchain Games

Non-fungible tokens have brought a lot of good into the crypto space. NFT games created by game developers in popular gaming genres support in-game transactions. The digital assets earned in blockchain games quickly gravitate into possible assets in the new virtual reality known as the metaverse development. The metaverse is inspired by the gaming experience, which was nothing more than speculative reality in the past.

Digital assets as diverse as those in real life, such as sports memorabilia and clothing, are now part of the lucrative rewards in most of these games. Digital art items in NFT games are useable for some purpose based on the way the developers have designed these games. NFT gaming companies are taking the stage, allowing players to earn rewards and digital assets. Players collect things as diverse as virtual clothing and buy digital land and pets in NFT games. The experience is much like traditional gaming, allowing players to switch to adventure mode and collect digital collectibles as they conquer opponents. The funniest part is player versus player competition which makes it as real as ever.

The developer ecosystem for blockchain technology-based games is also growing as more devs are building blockchain games in diverse genres, like role-playing games with an entire gaming economy that allow players to earn rewards by simply having fun in the digital world. Most games are played to earn, including some of the best NFT games in the blockchain ecosystem.

Axie Infinity is the first gaming ecosystem that became a huge success using the play-to-earn model, and for that, it receives over 2 million users monthly. The game is like pokemon, but every item in the game can be traded for the platform's native token, and the valuation is worth billions of dollars. These items are treated as digital assets, and the game offers two game modes. In the first mode, the role-playing game allows you to play as an adventurer, while in the other mode, the battleground allows you to compete with other players. Players breed new Axies in Axie infinity, and these Axies are comparable to digital real estate or other virtual assets. A smooth love potion is a gaming token to power the breeding of new Axies in Axie infinity. The Axie virtual world is packed with experiences for all players, and the possibilities are huge. No wonder, the gaming platform is worth several millions of dollars and is only surpassed by Opensea based on the value of the assets in the game.

Another play-to-earn game, gods unchained, has been described as the best game ever and one of the top games in the crypto space. It allows users to earn free gods tokens for playing the game. It looks like a fun game, but other aspects of the game offer built-in incentives. Gods unchained is a trading card game that allows players to earn real gods tokens from playing the game. The game is financed by Coinbase, Galaxy digital, and Naspers and led by Chris Paly, who has previously succeeded in gaming.

$Gods is a part utility and partly governance token scaling digital assets ownerships on the god's unchained universe. Players can use $Gods to purchase packs from the god's unchained marketplace and earn rewards by huddling tokens in immutable X. The $Gods token also represents voting power that enables players to participate in governance decisions on the god's unchained verse. Players can purchase digital cards with a $Gods token and participate in the game's destiny.

Trading card games and other games feature a virtual world and an in-game economy under the same play-to-earn model powering the best NFT games in the blockchain sphere. Many games with distinct storylines are also being launched daily. Another common feature of these metaverse games is that they have in-game marketplaces where NFT assets native to the game are bought and sold. In the next part of this article, we will explore what free-to-play games are and whether they truly exist.

Let's build together on NFT Gaming

Conclusion

Gaming NFTs are becoming increasingly popular, with top NFT games like Axie Infinity, Sorare, and The Sandbox leading the way. In-game items, such as weapons, armor, and other digital assets, can be made into unique NFTs in NFT games. A blockchain consultants can provide NFT development services to create those in-game items for players using NFTs. Some blockchain technology experts believe that NFTs have the potential to revolutionize the gaming industry by allowing players to own and trade unique digital assets.

This article talked about NFT gaming and what it holds for the future. We started by defining what NFT and blockchain games are, the unique features that make them different from the typical games on your Xbox One, and the benefits in this verse space for you as a gamer. We highlighted how empowering NFT games are and listed some examples of games that require some investment to get started. Although we also explained that the investment required in these games does not go into the pocket of one entity. It is being used to build the platform and make the NFTs you have earned even more valuable, which means if you start to play a game and stop midway, the NFTs you managed to earn will be worth more when you come back. We also talked about games that do not require players to pay anything before accessing the game. We highlighted the top NFT games and favorite game genres love across the crypto game-playing world. The top NFT games mentioned may not be agreed upon by everyone, but they offer digital assets and are unique in their own way. We went further to let you know that if you have an idea that you want to make into a game, you can get started by reaching out to us at Rejolut. That is all for now, and we hope you enjoyed this article.

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NFTs, or non-fungible tokens, became a popular topic in 2021's digital world, comprising digital music, trading cards, digital art, and photographs of animals. Know More

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