The gaming sector is being revolutionized by NFTs and crypto innovation. With NFT or games, there are more and more games that have a play to earn concept. For example players can earn money by playing such games and metaverse game worlds with many incredibly exciting chances are created.
First, these digital assets are unique, for example non-fungible ones and this creates digital scarcity, which is important to the value of NFTs. Secondly, the token can be used to clearly and securely prove who the owner is.
If we can prove that we own a unique or rare crypto asset then it can have tremendous value and NFTs can be bought and sold on marketplaces. The coveted game platforms have sometimes been bought for several millions per NFT. These important properties of NFT’s uniqueness, proof of ownership and tradability are enabled by blockchain innovation. These are public, decentralized information where it can be proven at any time who owns what. If you buy an NFT today and sell it tomorrow, it will be stored on the blockchain and everyone can see it at any time.
Play to Earn
These new so called play to earn games are based on the free to play approach. For example Fortnite or most mobile games can be downloaded and played for free. The developers primarily earn money through in-application purchases. For example, players can buy special gear for money, which will help them get better at the game.
This is where metaverse come into play. If players in the game world acquire items, e.g. equipment or game characters or land, it is also clearly verifiable that the ownership of these assets goes to the player. So the players get NFTs. The games have a marketplace where these goods can be bought and sold. So if a player develops a character through play or collects rare items, then he can sell them to other games and exchange the proceeds for dollars. Another advantage for players is that if you don’t feel like playing a game anymore and stop playing, then the time invested and possibly also the money invested in equipment is not lost, but you can withdraw it and if you want take it to the next game. So the rewards for playing a game aren’t stuck in one game.
Star Atlas is a space game set 600 years in the future. Various galactics compete for influence, territory and resources. Expeditions can be made to discover more of space. In this way you can perhaps discover rare raw elements, mine them and then trade them. The spaceships that can be traded as valuable NFTs on the marketplace are becoming important. The game will be a fairly large metaverse with its own finance and war. It’s a very ambitious strategy and it will take a while before it’s playable.
Townstar is a digital money version of the Farmville. The aim of the game is to create resources in your city and then sell them to other cities. The money raised from these sales can be used to upgrade your town and become more productive. The items in the game are NFTs that will give you coins depending on their rarity when used in your town. So you have to actively play the game and there are also daily challenges for more rewards. This NFT game can easily be played in the browser.
What is your reaction to this?