NFT Games | Everything You Need To Know About The Future
In recent years, the gaming and cryptocurrency industries have found more and more ways to cross over. From sponsorship deals and partnerships to esports betting with crypto, these two verticals are essentially growing alongside one another. Today, the eager adopters of digital technology are focused on one growing aspect of these combined industries: NFT games.
Our world is becoming increasingly digital, and with each passing day, we become more technological as a species. Today, there are around two billion gamers in the world and many millions of cryptocurrency fans and investors. In the vast cryptocurrency and blockchain landscape, the latest popular development is the NFT – the ‘non-fungible token’.
First introduced in 2014, the concept of an NFT has become massively popular in the last few months. Put simply, an NFT is a unique item, or ‘token’, hosted on the blockchain, boasting irrefutable proof-of-ownership. As they’re inherently unique and one-of-a-kind, these NFTs boast often immeasurable value, with some being worth millions of dollars.
But how do non-fungible tokens contribute to these types of games?
What Are NFT Games?
If you’d asked this question a year ago, you’d draw looks of utter confusion, as this sort of game didn’t really exist. Throughout 2021, there was a huge boom in the world of blockchain technology, and NFTs began soaring in popularity. To answer the growth, games developers began studying ways to implement the technology in various play-to-earn games.
In these titles, gamers can quite literally earn things just for playing the game. It’s also worth pointing out that this isn’t some baseless fad, as recently, top developers like Ubisoft have been pondering over the concept of play-to-earn games. There’s definitely a huge market forming for these types of games, as almost every competitive gamer is appreciative of the opportunity to earn while gaming.
At present, most NFT games (and other crypto games) are restricted to browser-hosted titles, but the market is expanding. In October of 2021, Steam, the leading videogame marketplace for PC, banned all crypto and NFT games from its platform. Although, this opened the door for other marketplaces, such as Epic Games, to capitalise on the hole in the landscape.
In most cases, an NFT game is a relatively normal game, but players can earn NFTs through challenges or simple progression. For example, there’s a sci-fi title called MetaWars, and in this game, players can hunt for and collect limited edition NFTs as they play. Furthermore, players can stake against and complete challenges, earning the on-platform token known as $WARS.
What NFT Games Exist Today?
There is already a vast list of NFT games out there, and it’s growing bigger by the day. Here’s a list of some of the most popular and potentially lucrative NFT games, or the best ‘Play2Earn’ games:
Splinterlands boasts an ‘anytime/anywhere’ model, giving players the opportunity to potentially win NFTs wherever they are. It’s a relatively simple, fast-paced card game, but for every fight, players stand to win NFTs.
Gods Unchained is another trading card game, like Splinterlands, offering a ‘pays-to-play’ model. The developers of Gods Unchained are firmly supportive of the future of NFT games, stating that players need to truly own their in-game items, given that they’ve paid to obtain them.
Battle of Guardians
Battle of Guardians is a world-class NFT game, built on the SOLANA network and developed using the Unreal Engine. It’s a multiplayer fighting game reminiscent of Street Fighter, and when you’re playing, you’re playing to earn.
The Future of NFT Games
Ultimately, there’s a broad future in store for NFT games, for the simple reason that they give value back to the player. According to statistics found on the Gods Unchained website, approximately $87 billion was spent on in-game items globally in 2019. At the end of the day, every penny spent on these items belongs to the developer, as in most cases, the player does not ‘own’ that item.
This is where NFT games are becoming increasingly popular. When a player picks up an NFT, they’ve taken on board something unique with inherent value to it. They can trade ownership of this item on a peer-to-peer basis, which they cannot do in traditional video games. This is the driving force behind the increasing success of NFT games.
As time goes on, both crypto games and NFT games will see more support generated on a global basis. If developers like Ubisoft can adopt the production of NFT games, it’ll add a boost of legitimacy to the landscape, and it truly could become the next big thing.