NFT games are a new kind that uses blockchain technology to allow players to own items, characters, and equipment by collecting NFTs. The idea behind them is simple: you can’t copy or take away from you like in-game items today. Instead, they exist inside a smart contract on the blockchain. No company or developer behind an NFT can change it arbitrarily (like they could do with physical collectibles today). This makes NFTs scarce and valuable—much like physical collectibles we have now, like cars or sneakers. Many NFT gaming platforms are earning huge sums of money as the awareness of NFT gaming circulates among people. NFT gaming has a robust community supporting Blockchain advancements in this space.
NFT Gaming: A Rising Trend
Non-fungible token (NFT) games are new game that uses blockchain technology to allow players to own items, characters, and equipment by collecting NFTs. Non-fungible token (NFT) games are a new type of game that uses blockchain technology to allow players to own items, characters, and equipment by collecting NFTs. This can be compared to collecting in-game items today like pets or mounts for your character in World of Warcraft or digital collectibles such as CryptoKitties. NFT gaming has replaced useless in-game assets with valuable in-game NFTs. These in-game NFT does not only have gaming use-cases but can be traded over NFT marketplace.
Here are some reasons why NFTs are getting popular in the gaming space and how it changed the gaming space for the better:
- NFTs are Secure
Unlike traditional video games, NFTs exist inside a smart contract on the blockchain, so they cannot be copied or taken away from you like in-game items today. They also have individual ownership rights, which means no one else can buy them unless they pay more than what was paid for ownership rights, making these assets scarce & valuable.
This makes them incredibly secure because there is no way for someone to steal your digital assets without hacking into your account first (and even then, only if you permit them).
- NFTs are Scarce and Valuable
No company or developer behind an NFT can change it arbitrarily. This makes them scarce and valuable, much like physical collectibles we have now, like cars or sneakers. NFTs are unique and can’t be copied or taken away from you like in-game items today. They exist inside a smart contract on the blockchain, which is why they’re called Non-Fungible Tokens (NFTs).
- True Asset Ownership
When you buy an NFT game, you aren’t just purchasing a license to play the game. You are buying the entire game and everything inside it. This means that if one day the game developer decides to quit making NFT games or their library gets too big, there is no need to worry about losing access to your gaming assets. Because all the game NFTs can be sold over NFT marketplaces such as OpenSea or XANALIA.
You can also sell your NFTs at any time. There are many ways for people who own specific types of digital assets—or even physical objects like artworks or collectible coins—to monetize them in various ways: by selling them directly themselves via eBay or Craigslist; through services like Codex (a marketplace for rare books), ArtFund (an auction house for fine art), and other similar platforms; via cryptocurrency exchanges such as Binance where users can trade crypto-assets with each other using fiat currencies like US Dollars instead of Bitcoins; etc.
- Play-to-Earn Opportunity
In games today, when you pay $50 for a game after you beat it, all that’s left are memories of playing it. With NFT games, you now have your digital property, which can keep growing over time through appreciation in value and interactions with other players with their digital property.
If you have ever played a game, you know that after beating it, all that’s left are memories of playing it. With NFT games, you now have your digital property, which can keep growing over time through appreciation in value and interactions with other players with their digital properties. This can be done by selling or trading on an NFT marketplace like OpenSea or XANALIA.
We hope you’re as excited about NFT games as we are. This post talked about what they are, why they’re helpful, and how they work. We also gave you an idea of some games out there that use NFTs as their currency system. If you bought 100 NFTs at 1 cent each and the price went up to 1 dollar each, those 100 items would now be worth 100 dollars, meaning your investment would have gone up 10,000x in just one year! That’s an incredible return on investment. And it doesn’t stop there—you might even see the value of your NFTs increase further if the popularity of that particular game increases over time.