NFT games are a new-age genre of games for gamers and investors that use non-fungible tokens (NFTs) as in-game assets. NFTs are distinctive digital crypto tokens that are stored on a blockchain that can represent anything from art and music to virtual items, characters and more new possibilities of upcoming technology. NFT games allow players to truly own and trade their in-game assets, creating new possibilities for gaming experiences.
Generally, in traditional games where the game developers own and control all the digital assets, NFT games give players more access and ownership over their gaming assets. Players can buy, sell, trade, or even create their own NFTs on various platforms and marketplaces. They can also earn rewards or income by playing the game or by selling their NFTs to other players. This creates a play-to-earn (P2E) model, where players can monetize their gaming skills and assets.
NFT games also offer more diversity and innovation in game design and mechanics. Since NFTs are basically supported with blockchain technology, they can be interoperable across different and multiple games and platforms. This means that players can use their NFTs in multiple games or even create their own games using existing NFTs. Moreover, NFTs can have unique attributes and features that can affect the gameplay and outcomes. For example, some NFTs can have rarity, scarcity, durability, or upgradeability.
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Famous NFT Games
Some of the Unique famous and thriving NFT games include:
- Axie Infinity: A monster-breeding RPG where players can collect, breed, battle, and trade cute creatures called Axies. This game has its own token name called AXIES, which is used to allow governance & token staking. This game also has one more token called SLP, which is used for breeding Axies. The game has over 2 million daily active users and has generated over $2 billion in revenue.
- LegendsOfCrypto (LOCGame): A card battle game where players can collect, trade, and play with cards featuring crypto influencers, celebrities, memes, and events. This game has its own token known as LOC, which is used for governance and staking rewards. The game also has a DAO (decentralized autonomous organization) where players can vote on the game’s development and direction2.
- DeFi Kingdoms: A fantasy RPG where players can explore, quest, craft, farm, trade, and stake in a decentralized world. DeFi Kingdom has its own token name called JEWEL, which is also same used for governance and rewards. The game also has a DEX (decentralized exchange) where players can swap tokens and provide liquidity
- Gods Unchained: A trading card game where players can collect, trade, and play with cards featuring gods, heroes, creatures, and spells from various mythologies. The game has its own token called GODS, which is used for governance and rewards. This Gods Unchained game also has its own NFT marketplace where players and users can buy and sell cards using Ethereum.
- Alien Worlds: A sci-fi simulation game where players can explore, mine, battle, and govern different planets in a metaverse. Alien Worlds has its own token called TLM (Trilium), same wise which is used for governance and rewards. The game also has a DAO where players can vote on the game’s development and direction.
These are just some examples of NFT games that are available or in development right now. There are many more NFT games that are being created every day by talented developers and passionate communities. NFT games are not only fun and engaging but also empowering and rewarding for players.
Several Business Benefits of NFT Game Development
Drawing venture capital
As an entrepreneur, you would will to get the best return on investment, and you can do it through the plan execution of NFT game development. Although You will get a chance to sell unique NFTs and earn more income by introducing entry fees to your NFT game. You will also attract investors who are interested in the potential of NFT games and the blockchain industry.
The NFT gaming market is not fully competitive so you won’t have to tackle any high level of competition. You can stand out from the crowd by offering innovative and engaging NFT games that appeal to your target audience. You can also leverage the existing communities and platforms that support NFT games and gain more exposure and traction.
Now gaming industry might be game-changing its platform into a new phase of NFT games. Not like a traditional video game, NFT games provide greater lucrative scope for scalability. You can easily add new features, content, and updates to your game without affecting the existing NFTs. You can also expand your game to different blockchains and platforms, reaching more players and markets.
Additional ways of earning
NFT games offer a brand-new way for users to earn money through buying, trading and selling their in-game assets. This can create a new revenue stream for you as a game developer, as you can earn commissions or fees from every transaction that occurs on your game or marketplace. Also, you can earn rewards or incentives from the blockchain network.
Transparency and decentralization
NFT games offer more transparency and decentralization than traditional games. By using blockchain technology, you can provide players with greater visibility and control over the game’s economy, reducing the power of centralized game publishers and intermediaries. You can also empower players to have a greater say in the development and direction of the game by using governance tokens or DAOs (decentralized autonomous organizations)
Foremost gaming companies and users have their choice of preferences to change over their gaming activity into NFT platforms like in a way of NFT games. A recent, report unveils NFT gaming market should be expected to grow at a CAGR of 32.56% while the forecast period from 2022-2027. NFT influence to revolutionize online gamers and purchase in-game assets. These results describe why people have to attain the gaming experience to the next level. These all have to attain to do your business with the support of the best NFT Development company to describe your futuristic business ideas and get final business quotes to kick start your business journey with it. Progressively Web3 has grown up in different way forms like Web3 social media platform, and Web3 in health care. More or like NFT and web3 go to create the same attention to increasing the business market across the globe.
Read more: 8 Things Creators Should Know About NFTs