What are NFT games? Non-fungible tokens (NFTs) are digital assets that represent real-world objects like art, videos, music and in-game videos. Unlike the crypto coins that we are used to trading, NFT tokens are different in the sense that each token is unique and has their own value. Think of them as baseball cards; even two baseball cards of the same player are not equal in value due to their different serial numbers.
Simply put, NFT games are games that incorporate NFTs. For instance, a game can represent a player’s avatar or in-game weapons as NFTs. Players can earn NFTs through playing the games or completing missions. They can then choose to earn profits by selling these NFTs for some tokens, or even swap NFTs with another willing trader. Some already popular NFT games are Axie Infinity and the Sandbox.
Developers make use of smart contracts to implement NFTs in games. For example, developers of CryptoKitties have made use of the geneScience contract, which is a self-executing code, that generates new kittens. The rise of NFT games have opened doors for budding developers who want to showcase their NFTs in a fun way.
Some uses of NFT games
NFT games have become an increasingly popular mETHod to earn profits simply by playing the games. These games are under the play-to-earn (P2E) model. Games like Axie Infinity enable gamers to catch unique Pokemon-like characters the more they play. These characters can then be sold on the NFT market. As quoted from Axie Infinity’s co-founder Aleksander Leonard Larsen, he revealed that 50% of its players have never traded or used cryptocurrency before playing the game. This shows how NFT games can greatly increase users’ exposure to cryptocurrency.
Furthermore, NFT games are platforms for creators to showcase their art creations. Compared to the traditional auction-based NFT platforms like OpenSea, players now have an incentive to take note of such NFTs because they may represent a higher in-game status. As a result, the market for NFT creators may expand in time to come when games demand new NFT characters. After all, what are NFT games without their NFTs?
NFT games also represent a huge step towards decentralization, where players are given more power than ever. In the past, gamers would typically buy in-game items through transactions. Now, NFTs empower gamers by allowing them to trade and sell with other gamers. Not to mention, gamers would now have complete control over their assets as long as they have a functioning wallet to hold these assets.
Be Careful!
Like any other game, NFT games can be prone to scam cases, where gamers send their NFTs to a scammer. There is also the possibility that gamers may inadvertently transfer their NFTs to a wallet that does not support the NFT’s token standard, hence losing them. Additionally, the value of NFTs may rise and fall unprecedentedly as the crypto market fluctuates.
To prevent losing NFTs permanently, it is advisable for gamers to do their research on the most common ways scams happen in the cryptocurrency market. Gamers should also understand the different types of tokes and blockchains their wallet supports so that they do not conduct incompatible transactions.
In Conclusion
What are NFT games? They are games that encompass NFTs in one way or another. There is great potential in this industry as both gamers and creators alike can stand to earn profits from NFTs. As an increasing number of NFT games are popping up on the market, do not be surprised if NFTs become more commonplace in the world tomorrow.
