Blockchain: Unheard Games to Watch

Globally, new-age investors are embracing blockchain cryptocurrency. It is one of the most lucrative investment options, but it is also one of the most risky.

As crypto grows in global popularity, many industries, including online gaming, are adopting the new-age technologies. It has become a breeding ground for game developers to use cryptocurrency to create NFT games.

Non-Fungible Tokens (NFT) are new cryptographic assets that exist on Blockchain. It changes how people recognize and register asset ownership.

NFTs gained popularity in art, music, and trading cards. Online gaming based on Blockchain technology quickly realised the potential of NFTs.

Stats show that NFT projects in art and gaming were worth several million dollars in 2020, but not in 2021. They are slowly changing the gaming industry.
income source

It used to be that paid items and upgrades in games were free to play, play to win, or pay to play.

With the use of Blockchain technologies, developers began monetising games in innovative ways, allowing users to profit from their gaming skills and time invested.

The game’s developers emphasize earning in-game rewards or cryptocurrencies or trading NFTs. Instead of making a non-profit purchase, they invest in NFT characters.

A player’s tokens sold to other players or on cryptocurrency exchanges to create a micro-e

Considering their benefits for players as well as gaming developers, NFTs are expected to be a long-term phenomenon.

Making money by playing games

This gaming model is the newest in the industry. It embraces modern technology while benefiting all online gamers.

Play-to-earn developers give players ownership of in-game digital assets, allowing them to increase their value.

From cryptocurrencies to in-game resources tokenised on Blockchain platforms, players can earn money.

P2E gaming relies on the success of NFT trading and its demand as a digital asset. It is a win-win situation for both the game developers and the new players.

Ownership sense

Digital collectibles have been known to exist in online gaming for some time. In traditional gaming, non-transferable in-game purchases remain locked in the game.

NFTs in gaming give players a sense of asset ownership that allows them to unlock their digital collectibles in the real world.

Players can sell these in-game digital assets for real money or trade them with other players for economic gain.

Aside from that, many blockchain-based gaming marketplaces allow players to own NFTs with a small financial stake in the game’s decisions.

Immutability

Previously, online games without Blockchain technology couldn’t track true ownership of assets. As a result, online gamers were left to waste time playing games for nothing.

The new play-to-earn gaming models decentralised and run on blockchain platforms. Unlike centralised server, NFTs immutable, making ownership of in-game assets or digital collectibles less likely to be lost.

In short, NFTs are independent and use blockchain technology. Even if a game closes, any purchases made sold on existing blockchain protocols. These assets cannot duplicate or lost due to their blockchain records.

Blockchain Indivisibility

Cryptocurrencies subdivided and used as a medium of exchange. However, NFTs can only bought, sold, and saved as a single unit.

In the gaming world, NFTs help to create a more robust secondary market for in-game digital assets.

Providing a revenue model where players can resell their purchased assets, NFTs are proving to transform the online gaming world.

Blockchain Synopsis

NFTs in gaming are still new. New games being developed and their capabilities upgraded using blockchain technology for NFTs.

NFTs expected to be a long-term phenomenon due to their benefits for both players and developers.

Moreover, by making NFTs publicly available on interoperable blockchain platforms, they become more valuable and sustainable for gamers.

NFTs: The next big thing in online gaming – BusinessToday

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