One of the rare places where individuals of different backgrounds may work together freely is in video games. The freedom to explore new worlds and create their own stories as they acquire new characters, weapons, and other game assets contribute to the game’s broad popularity. The appeal of assuming a new persona in a different setting encourages people to engage with the medium on a level unmatched by other media.
In the current state of affairs, all gaming apps are based on centralized infrastructure, meaning that all game assets, user data, game logic, etc. are kept on closed systems, of which the gaming businesses are the exclusive proprietors. This implies that companies are able to make money off of users’ time and money in perpetuity thanks to the games’ business models. There seems to be no slowdown in sight for the gaming business, which is projected to earn about $200B in 2022 alone.
Blockchain technology known as NFT gaming may enable players to contribute to an egalitarian ecosystem that incorporates the principles of ownership, interoperability, and transparency, thereby reshaping the one-sided economic structures imposed by conventional games. So, is NFT gaming the future? Or will they collapse? Let’s take a look in this article.
Ownership
In-game sales brought in several hundred million dollars for the popular first-person shooter Call of Duty in 2021. Even though players have paid for these digital assets, they would be unable to utilize them outside the game if Call of Duty were to go down for maintenance or be shut down permanently. Since this was always the case, gamers never felt like they owned anything.
In contrast, NFT games are decentralized and may be found on the blockchain without any intermediary gaming platform. How NFTs are changing the gaming industry? NFTs allow for the perpetual buying, selling, and trading of in-game items regardless of the state of the game’s economy.
NFTs, on account of the intrinsic autonomy that they possess, have uses that extend well beyond the realm of commercialism. For instance, if the person who made the NFT so wishes, it may be shown outside the game. Those who are in possession of NFTs are allowed to brag about them on their accounts, which may assist them in gaining a reputation as a top-tier gamer, collector, or degenerate, depending on their preferences. The applications of gaming NFTs extend well beyond the region of simple enjoyment, enabling users to take part in the development of a complete digital identity. These applications go much beyond the domain of simple amusement.
Interoperability
Before the development of the technology known as the blockchain, each and every game had to be stored on a separate server. As a direct result of this, game assets were confined to the boundaries of the game’s infrastructure and could not communicate with any services outside the game.
Take, for instance, the case of video games: as time passes, player interest wanes, and their focus shifts to other titles. When anything like this happens, gamers will lose access to all they’ve done in the game and will have to begin playing from the very beginning. It doesn’t seem fair that all of their hard work should have been for nothing, does it?
Ecosystems that are compartmentalized restrict games from interacting with one another, which is detrimental to players. Instead, games might open up their environment to network effects by designing for interoperability, which would enable players from other games to interact with their applications. This would allow the environment to benefit from the synergy of the network. For example, web-based Chainers is convenient for users. There’s no need to get anything downloaded.
Instant access allows users to get right in, no waiting around, and play on any device, at any time. Therefore, you are never more than a mouse click away from a good time, regardless of where you happen to be. Then why are gamers against NFTs? It’s simple, they just haven’t fully figured out and understood the benefits of NFT games yet!
Transparency
There is no dependable method for players to ascertain the actual worth of an object they have acquired or created while participating in a game. As a consequence of this, it is taken for granted that game creators would act in a morally responsible way.
NFTs, on the other hand, will launch the gaming industry into a brand-new era of transparency. If a non-fungible token (NFT) is utilized as an in-game asset, the owners of the NFT will have unlimited access to essential information on the NFT, including the token’s validity, supply, and rarity. It is feasible that a vibrant secondary market may develop as a result of the improved confidence that can develop between buyers and sellers when there is a greater degree of transparency. Are NFTs used in gaming? Everywhere. In 2023, NFTs will blow up the gaming industry, as they began to do before.
Conclusion
NFT and games between the huge spread. If we compare them on the most fundamental level, it is immediately apparent that foundation-based assets are of utmost significance for the more typical player-driven economies in the process of development.
Take, for instance, the board game Chainers as an illustration. In it, the type of NFT affects utility. It can be anything from a chain linker to a piece of furniture and a new ability for your character in the game. However, they are not tied to a specific game and can be used for anything from future games to trading and leveling up your chainer on chainers.io.
As a result of the implementation of in-game assets such as NFTs, video games now have the potential to gain more features than they ever had before in the very first place. The fact that in-game NFTs bring the virtual world closer to the actual world is one of the many wonderful things about them. And it should be clear by now, shouldn’t it?