NFT games have created a certain buzz in the crypto and blockchain world. These games offer a modern way of playing and earning on the go. The early-stage games like CryptoKitties shifted the whole space by incorporating the gaming industry and finance known as Game-Fi.
While following the traditional model of finding, winning, or collecting rare items, players can now experiment with various gaming models. One such prototype which is getting extremely popular is “Play-to-Earn.” This way, within the NFT games, players can earn in numerous ways.
What is NFT?
A non-fungible token (NFT) portrays a unique item. These NFTs represent the ownership of specific digital assets. Unlike primary cryptocurrency, these items cannot be exchanged, as it carries unique value. NFTs can be arranged as digital assets, a collectible crypto-art, or real-world assets like real estate.
NFT work features
NFT can be the avatar you are playing or the weapons used, for instance. NFTs are incorporated into the game’s mechanism, rules, and player interactions. Unlike traditional assets in virtual games, in-game NFTs can be added to the wallet, further giving you access to trade the NFTs in the marketplace.
This new model of Play-to-Earn games has made it easier for players to earn from NFT. The NFT games will include smart contracts to bring in the essence of web3.0 concepts and diverse monetization options. The NFTs earned can be traded with other players to make profits.
Play-to-Earn concept of gaming provides the players to earn while playing. The more they engage, the more there’s a chance for them to earn tokens and participate in the occasional distribution of NFTs. These tokens hold a certain benefit or can be sold in exchange for set values. Naturally, such models of NFT games provide the user a chance to earn tokens and rare distribution of NFTs.
Axie Infinity is one such game where the players have three pokemon-like pets of the game and move ahead with completing the assigned tasks. These collectibles can be purchased or given as a scholarship from another player, wherein the person can claim a certain percentage of the user’s earnings. The price of Axies generally varies. However, it can sometimes cost over 200 USD. The game begins, and as the users get invested in the challenges and tasks, they can earn the Smooth Love Portion (SLP), an Ethereum token that can be traded.
What is In-game NFTs?
In-game NFTs are those virtual assets that can be traded in the NFT marketplace. These assets are purchased inside the game. However, the utility of the NFTs exists outside the game as well, making it much more flexible. The up-and-coming NFT games provide both in-game NFTs and a play-to-earn option.
The NFT-powered games are based on Web3, making it a decentralized platform. The players, rather than the developers, will own the in-game assets, unlike traditional games. Thus, making it player-centric. This also ensures the utmost transparency in the game, as transactions are recorded in the blockchain.
These in-game NFTs are digital assets representing the in-game content. Be it cards, skins, weapons, or even lands, all can be taken as NFTs. Thus, making it tradable for revenue generation.
Popular NFT games
Most of the NFT game is based on the Binance smart chain (BSC) and Ethereum (ETH). While most games involve collecting NFTs, some provide a video gaming experience. Below are some examples:
Axie Infinity:
Axie Infinity is an Ethereum-based cryptocurrency, where you can buy or mint NFTs which represent the Axies. The Axies replicate the axolotl-inspired digital pets. The players will have to buy 3 Axies to start playing the game.
Sorare:
Involving the football world in NFT games was a success. The players can trade and collect real-life soccer cards. The user can build a team of five players with free or purchased tokenized cards. The players can earn and level up accordingly by completing an event, winning, or scoring a new goal.
Gods Unchained:
The Gods Unchained is a tradeable NFT game that works in Ethereum (ETH). Here the players build decks with the powers and strength they possess to fight other players. As the game progresses and players win, they can earn in-game items to use or sell. Some advanced games like this allow players to win Flux. Flux are those items that are used to craft strong NFT cards. Players can earn by selling those NFTs or by reinvesting in new cards and proceeding to play.
Closing
Incorporating the gaming industry and finance has made the world an easier way of earning income. Game-Fi has created a brand new virtual ecosystem for users to manage and use their NFTs. Users value their NFT for their collectibility and utility. NFT games have brought a new field for people to earn their living much easier and more interactively.
