The year was 2017. Cryptokittens a relatively unknown game that ran on the Ethereum network caused a major problem. It saw so much participation and success, that the network was not able to handle all the increased load! The result- the Ether network came to a standstill!
In the last few years, the growing interest and awareness in cryptocurrencies have fuelled several other related innovations. One of the most popular ones has been NFTs or Non-Fungible Tokens. They have acquired a huge fan following in recent months.
At the heart of NFTs is the attraction of ‘Fungibility’. If you do not know what it means, let us elaborate. Fungibility is the practice of exchanging one element with another without the value of the element being subject to price rises or falls.
In this regard, NFTs have become a core component in the field of music, arts, design, and games. In this article, we are going to look at why NFT games are becoming more popular than ever. If you are someone that is interested in learning about nft games, read till the end.
Table of Contents
Non-fungible Tokens: What Are They?
First things first. NFTs or Non-Fungible Tokens is a kind of crypto token that represents or stands for behalf of a certain set value. In this regard, it represents ownership of something unique, constant, and distinct.
NFTs can be traded between individuals and are most suited to establish ownership over scarce digital resources. In the last few months, NFTs have been used to sell artworks, in the world of online games, music, and other collectibles.
Anything that is created digitally or has been uploaded can be traded or represented in the form of an NFT. In the field of gaming, it has found its application in in-game and app purchases. If you think NFTs are a recent phenomenon, think again. The first NFT like token hit us in 2012!
4 Reasons Why NFT Games Are Becoming More Popular Than Ever
In this section, we will try to list down the four major reasons that are contributing to the popularity of NFT games-
Allows players to get more value from in-app purchases
In all games, players would spend hundreds of dollars in in-app purchases and then did not have any control over what they had spent. When the game ended, they needed to relinquish all that they owned- skins, weapons, powers, coins, etc. With NFTs, players can now trade or interchange them with others who are looking to play the game.
Gives players more access and control over their playing conditions
At the end of the day, everyone wants to enjoy control over how they play and where they exert control. In this regard, NFTs, allow for players to exchange with others or do whatever they want with everything they have won or invested in the game. What you create- a player’s personality or skin is your individual creation. Now, you can monetize the same!
NFTs can mean a lot of money in today’s times
If you are a pro-gamer that is proud of your success and creations, you can now win handsomely from the same. There are so many ways and means through which someone can take what you have created and popularize it. With the advent of several digital creators in the world of gaming, NFTs can result in a lot of money for the players.
Bigger gaming platforms are running with the idea
If you have been reading the news, you would have read how some of the biggest game creators are now leveraging NFTs to build much more immersive and meaningful experiences. This has led to the development of some great games. Whether you are looking at online card games, MMORPG, or others, you have a great number of options in front of you and NFT games.
The Bottom Line
Even though NFT games are rising in popularity, some challenges simply cannot be ignored. A good NFT game needs to balance an exciting player experience with their ability to earn. It cannot be all about earning and not giving anything back to the game. Secondly, most NFT games run on the Ethereum Network. Experts agree that this needs to branch out immediately to help scalability. Lastly, the entire concept needs to be popularized to be accepted as a mainstream gaming practice.
There is no doubt that in the next few years, NFTs are going to become a force to be reckoned with in the gaming ecosystem. If you have any other questions, you would like us to address, please let us know in the comments below. We will try our best to answer as many of your queries as possible.
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