If there’s one thing that seems to be getting a lot of media attention right now, it’s NFTs. An NFT is a non-fungible token with a unique serial number and cannot be subdivided.
What is the value of an NFT? Two NFTs will always be unique even if they symbolize the same thing. Unlike Bitcoin and other cryptocurrencies, you cannot replace one NFT with another and it will simply be the same or have the same value.
We see NFTs having a big impact on many different industries, and one, in particular, is the gaming world. Keep reading to find out everything you need to know.
Turn game objects into NFTs
Some cryptocurrency enthusiasts believe that the future of in-game economies involves turning in-game items, such as character skins or guns, into NFTs. They believe that NFTs will generate real ownership, creating the ability to resell in-game items that a person no longer wants.
We’ve also seen some people claim that NFT items, including characters, can be transferred between games.
Of course, nothing is guaranteed, however. Just because an NFT is yours for as long as you decide to keep it doesn’t mean it will retain its value in-game. There’s always a risk involved. However, it is certainly exciting to see where the future lies in this regard.
Become a unique character
NFTs and games play on the fact that we love having the ability to tap into another world and become someone else. More and more games are giving people the ability to create and modify their in-game characters.
This is something that NFT games embrace. However, they go further than that, as you can also own your character. This means that no one else will be able to have the same character as you.
Head of research at Bequant, a digital asset exchange and brokerage platform, Martha Reyes, spoke about it:
“NFT purchases allow the player to purchase their own character that is either unique to them or readily available to the wider ecosystem.
“It gives players the ability to play however they want, rather than being dictated by the developers, giving them more freedom in the game worlds.”
Training to add value
Players go on a journey every time they play a game. Their character isn’t perfect to begin with. Progression and development are necessary. The same can be said for NFT games, ensuring that everyone can always get involved. Otherwise, powerful characters would only be reserved for those with a lot of money to spend.
This is something Reyes also explained in detail:
“In games like Blockchain Cuties, players can train and upgrade their existing characters, making them more powerful in-game and valuable in the marketplace.
“This means the training process can actually add value to the player’s NFT, making them earn more money when they resell it.
“It also means that wealthier players can’t just buy their way to success and less experienced players can move up the ladder of the game.”
The exciting world of NFTs and games
So there you have it: a look at how the worlds of NFTs and games effectively collide. This is an area that will only become more and more fascinating, with great opportunities for players to develop NFT characters, which they own and can also improve.