The world has witnessed several game-changing technological revolutions in the past decade alone. In the past few years, we’ve transcended boundaries that had been on the distant horizon for ages before. And with the constant upgrades in the tech world, gaming, too, has taken several forms over time. One of the more recent revolutions in the gaming industry came from the integration of NFTs or non-fungible tokens.
With the skyrocketing popularity of blockchain, Web3, Decentralized Finance, and NFTs, NFT-based games have been gaining a lot of traction. This is especially since most of these games utilize a play-to-earn mechanism which allows the player to make money through the game.
Given the recent pandemic, NFT gaming marketplaces proved to be a viable source of income for many people, specifically those in developing countries like Vietnam and the Philippines. In fact, P2E gaming may eventually even replace traditional jobs for hardcore gamers. Since their boom in 2021, P2E gaming has defined a new age in the tech world and is well on the way to the future.
When you consider the security of the blockchain, too, it becomes a great idea to invest in P2E gaming. And it certainly helps that with blockchain games being decentralized, the game can go on and the assets will remain even if one server crashes.
So how exactly are NFT game marketplaces (pardon the pun) changing the game? Read on to find out.
Explaining P2E gaming
First things first… What is P2E gaming and how does it work? Well, it’s quite simple, really. The fundamental aspect of NFT gaming marketplaces is that they allow you to own your in-game assets. A huge draw of NFTs is that they allow you complete ownership over assets. While most NFTs are purely known for their collectible value, game NFTs give you additional utility.
For one thing, you can use your NFT to play the game. On completing certain tasks, quests, and missions, you may be awarded certain points which can then be redeemed as cryptocurrency or even fiat currency. You can also trade your NFT on the gaming marketplaces and earn that way. Some NFT games are free to play, while others require you to own an NFT before entering the gaming world. And these NFTs can be anything, from skins and accessories to weapons and avatars.
Key Features of NFT Gaming Marketplaces
There are several factors that make NFT gaming platforms tick. Here are the biggest advantages of NFT games over traditional ones.
- Ownership of assets: As we have mentioned before, NFTs allow you complete ownership of an asset. With previous eras of gaming, once a T developer decided to discontinue the game, your assets would be lost. With NFT gaming, however, the in-game assets are yours, no matter what, and you can always sell them. And the rarer they are and the more utility they have, the more they fetch you. So game NFTs can double as investments, in a way.
- Enhanced Gameplay: Another advantage of these high-tech games is that they are, similarly, high-res. The cutting-edge graphics definitely immerse you completely within the world of the game, taking your gaming experience to the next level.
- Customizable Games: These highly evolved games let you customize your game. For one, you can own land within a game and build anything you want there. You could also shape the narrative of the game, making it that much more immersive. And of course, you can always define how your characters and avatars look by purchasing NFT skins and accessories.
Are NFT games worth investing in?
Considering the volatility of the crypto market, it is always best to do your own research regarding an NFT project before jumping in. The good ones are definitely worth looking into as a potential investment. First of all, make sure you have a clear budget in mind. NFTs can get a bit pricey, so having a clear idea of what you want to invest could help eliminate projects that don’t quite fit in. Next, thoroughly research the team behind the project and read the whitepaper exhaustively. If it fits the bill for you, then join their community and go through their social media. This will give you a good idea of their legitimacy. After all this, if the NFT gaming marketplace is credible, then go all in.
Closing Thoughts
The integration of NFTs in gaming is something that has been nothing short of revolutionary. And this addition has taken gaming to new heights and has heralded the start of a wonderful collaboration between the crypto community and the gaming world. It also marks a new era as we step into the future of the internet with Web3. Soon, the prospective Metaverse may be more than just a dystopian dream and may become an actual virtual space where the tangible and intangible combine in perfect harmony. Until then, we can expect P2E NFT Gaming marketplaces to pave the road ahead.