Non-Fungible Token or NFT games are any games that feature digital collectibles or items in the form of a token and are based on blockchain technology.
This feature makes each game fully tradable in the game itself and outside of the game through the utilization of NFT marketplaces.
NFT games have gained a high level of popularity because players can earn income simply by playing the game and gaining rare items in the form of NFTs. They can sell these for cryptocurrencies, something known as the play-to-earn (P2E) model.
That’s the theory, at least, as many NFT games have yet to release working games that players can enjoy and, instead, are a type of speculative asset.
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What is an NFT Game?
An NFT game is essentially any game that features non-fungible tokens (NFTs), which represent a specific portion of the game that a player can gain. They have pioneered the play-to-earn (P2E) gaming model and category and enable players to earn rewards just by playing the game and trading any of the in-game assets they receive through doing so.
In-game assets are represented in the form of an NFT, and these can include:
Based on the NFT game in question and the underlying blockchain network on top of which the game is built, these NFTs can be transferred from one game world to another game world or simply be monetized through the utilization of secondary marketplaces such as OpenSea or Rarible for example.
The blockchain technology on top of which these games are built enables this functionality and provides a full architecture for the gaming platform, which stores entails and secures the ownership of the in-game assets.
Some popular NFT games you can try today include:
- Axie Infinity
- Nifty League Degen
- Gods Unchained
- The Sandbox
- Alien Worlds
Each of these games utilizes NFTs as a means of letting the player do specific functions within the game, and as a means of rewarding the player for committing the time within the game.
How Does an NFT Game Work?
The NFT game is essentially programmed to allow the player to earn in-game items by completing quests, exploring the world, or doing some tasks set within the game. Through committing time and energy within the game world, a player can earn a lot of points, which can be traded for a rare item in the form of an NFT, or the item itself could drop from an NPC or monster within that specific world.
The rise of the economy within an NFT game is dependent on its popularity and its overall impact on the digital audience, so the more players engage within an NFT game, the more NFTs get generated, and the rarest NFTs become a lot more appealing, which leads to an increase in their value.
Cyberkongz is an example of NFT play-to-earn game
Why are NFT Games Appealing to Players?
The main reason why NFT games stand out from traditional games is that, within traditional games, any items earned by the player are typically locked to their account and controlled by the company behind the game, stored within the centralized servers.
This means that players cannot really transfer the in-game items they themselves bought and spent real money on and cannot re-sell them on secondary marketplaces. Through NFT gaming, players are given the opportunity to earn money by selling any items they come across that they do not need in the form of an NFT.
These games obey the rules of the blockchain, which include security, scalability, speed, and transparency, and have transformed into a popular platform.
NFT Games: The Final Word
NFT games are essentially virtual worlds where the in-game collectibles are represented and gained in the form of a non-fungible token, which can then be traded or sold.
The players have full ownership over these tokens and, as such, are given the freedom to do what they see fit with them.
In NFT games, the items are no longer locked within that specific game world, and the company behind them does not have full control over them, as they are all based on decentralized blockchain technology.
That said, NFTs are still incredibly new and many of these games have yet to deliver on their roadmaps. So, exercise due diligence before aping in.