Non-Fungible Tokens or NFTs (1) are often an on-and-off subject for traditional gamers. Some gamers certainly appreciate the idea of sharing and collecting in-game digital collectibles, while others think the experience and viewing angles might change for gaming.
NFTs are no longer just a popular investment but have already started revolving around the environment, capturing every industry. It has so far generated $10.67 billion in trading volume. There is no denying that NFTs are shaping every industry in the virtual universe and the advancing web3 technology (2).
NFT gaming and its development are proving useful in utilizing crypto, blockchain, and metaverse technology. Players have invested thousands of dollars in purchasing skins and cosmetic items in-game.
These items are linked to the user's account and cannot be resold. They also do not possess any real benefits other than just visual in-game representation and advantages. For the next game, users have to go through the same process and again spend dollars to obtain the skins and perks.
For traditional gamers, blockchain technology is a game-changing innovation. The way video games are played is going to be completely changed by NFTs operating within the in-game ecosystem and demonstrating fairness.
The gaming sector generates billions of dollars on average each year. The gaming business would be disrupted by blockchain technology and NFTs since gamers would no longer need to spend thousands of dollars on each game but instead could invest in NFT-based products in their non-custodial wallet and import these avatars into many games (3).
In what ways do NFTs enhance traditional gaming?
The play-to-win (4) concept has always existed in the gaming industry. Multiple games offer coins and perks for playing games, but the game coins cannot be transferred to actual money.
NFTs have changed the concept of games, as NFT game developers and their ideology of play-to-earn (5) let gamers invest in the platform for buying characters and other digital collectibles, which can then be sold on NFT marketplaces as well (6).
Developers can also offer gaming rewards related to winning NFTs or cryptocurrency. This also allows users to exchange their in-game digital assets into cryptocurrencies and sell or exchange them if they want.
This has given an economical shape to traditional gaming wherein users can actually sell their gaming avatars and NFTs to other users or even exchange them for cryptocurrency. These features are set to attract more gamers for their features that provide in-game real-value rewards, creating a win-win situation for gamers, developers, and also the owners.
Race gaming enhancement
Gamers will be able to trade digital assets such as drivers, drives, race tracks, cars, car parts, and many other components in the form of NFT. Depending on the game developer's ability to provide rarity and various customizable components for these one-of-a-kind collectibles,
Enhancing the gaming experience by allowing players to buy the best car available on the market, which has been proven to be a valuable digital asset, and then sells it when demand rises. This will offer a motive for gamers to play games while also generating more NFTs for racing treks and can even be used for gifting purposes or rewards for completing achievements.
For example, REVV Racing (7)
Card gaming enhancement
Card games can be the most beneficial sector in the gaming industry. Blockchain technology will allow users to obtain the history of cardholders and creators, which makes it impossible to duplicate.
The cardholder obtains the authority to hold, sell, or exchange anytime, anywhere, and anyhow. Blockchain technology makes it easier for card gamers to transfer ownership and rights through lengthy procedures and provides encrypted safety.
The holding of cards enables the user to explore the various perks it holds. It also boosted the crypto investment in the NFT cards for in-game purposes. Transparency, inimitable, and rightful ownership have attracted traditional gamers and developers to optimize this valuable technology.
Adventure gaming enhancement
Every gamer can relate to the struggle required to complete tasks and achieve the goals of adventure games. For gamers and game producers, NFTs have produced a special setup of improvised experiences that allows them to turn every victory or accomplishment into a unique collectible.
Utilizing NFT in adventure games will improve user interaction and experience, enticing players to keep playing and unlock valuable rewards while keeping track of their achievements.
Action gaming enhancement.
Players can now buy skins and various avatars digitally rather than by paying real money for in-game currency. Through NFTs, players will be able to make money in addition to playing, and their earnings will be influenced by real money.
The gaming industry's revolution has increased participation and improved the abilities of both players and creators. Each collection has a distinct representation and address, and it also enables earning cryptocurrency through an exchange.
For example, Ember Sword (10)
NFT & the gaming industry
NFT is soon to capture the gaming industry with the benefits it provides for independent gamers and developers. The monetization of the valuable in-game assets introduced to the open market globally will let users display their gaming avatars and also the collectibles they own alongside a real-money value.
Authenticating the gaming industry and providing authorized uniqueness to diminish fake trading and provide value for the holdings, gamers are now able to trade the assets they hold or earned. For users to view, gaming level, achievements completed and rewards have now obtained a greater outlook.
Providing provable fairness by utilizing blockchain technology enables anyone to vet the developer's promise as everything is blockchain-based. If the developer is announcing that they will launch 50+ NFTs, then the community will know that there will be NFTs coming as they can be verified on chains.
Players frequently rely on developers and their blockchain technology commitments because everything is now open source, making it possible for anybody to check the odds and the game's economics.
As a result, more people are playing games and investing money in their success, resulting in increased transparency and fairness for gamers and the community.