Game NFT: What Is It and How Does It Work?
NFTs will shake the very foundation of the video-game industry. Gamers worldwide now have the opportunity to earn income through playing on their computers. Blockchain games, also known as NFT games are video-games that allow the exchange of virtual game-related items issued as NFTs on the blockchain.
What are the most popular NFT games? How do you make money playing games that are blockchain-based? What do buzzwords like Play-to-Earn and GameFi mean? Which NFT Games are worth investing in 2022?
This article is written specifically to answer all questions about NFT Games and also show which Blockchain-based Games in 2022 are among the absolute top favorites.
What Are NFT Games?
Following the NFT hype that began at the crux of 2021, “NFT” or non-fungible token became the hottest buzzword of the year. This relatively new term caused mass confusion and misunderstanding among non-tech savvy audiences. Actually, it’s quite simple to define what an NFT game is.
An NFT game is any type of game in which the virtual assets are issued as NFT. Players can obtain these in-game goods by simply playing or purchasing via marketplace.
It is crucial that the player stores his NFT in his crypto wallet as a token so the ownership can be verified by the blockchain. This is the heart of the new revolution. Since blockchain is a decentralized system, NFTs give the players control over their hard-earned goods. The items are completely and entirely theirs to use it as they desire.
Contrast to the well-known centralized games like Fortnite, where players can purchase the items with real world money, but are ultimately dependent on the game studio: sometimes items can be deactivated or can no longer be used as originally released. The player simply does not own the item and cannot or may not resell it.
Blockchain games are developed using an entirely different approach. The studios will design the game with ‘decentralized economy’ as a core aspect of the game. They will develop a game where the current and upcoming avatars, skins, weapons, etc. can be exchanged seamlessly.
How Do NFTs Work In Games?
Once you’ve grasped the idea of non-fungible tokens, the video-game implementation will be easily understood. Every in-game item, such as an avatar, wardrobe, and weapon skins are given a unique identifier that is exclusively owned by a single person and is stored in their crypto wallet.
For game developers, the minting process will happen at the very end of the game asset creation pipeline. For the players, the methods of acquiring the NFT will vary depending on the genre of the game. It can be earned or unlocked upon completing certain missions. In addition, a player may purchase or sell their collectibles on the NFT marketplace.
If you’re just starting out, you need to have access to an NFT-compatible wallet. The conventional go-to for decentralized wallets are MetaMask or Trust Wallet. Any NFT acquired through purchase or selling can be finalized directly through the wallet.
But that’s not all! Blockchain games are still in its infancy stage, and that means more features will be added as we innovate. We may soon be able to rent or lend NFT assets and still profit off of it.
What Are The Top 3 NFT Games In 2022
- Axie Infinity — The most popular Ethereum-based play-to-earn title akin to Pokémon
- Lucky Block NFT — A lottery built with blockchain technology to guarantee transparency and fairness
- Splinterlands — A trading card game (TCG) running on the Hive Blockchain with over 260,000 concurrent daily players.
Disclaimer: The views of the author are intended to be general in nature only and do not intend to offer specific advice on investing or financial matters or advice to any person in relation to an investment or product. This article is intended to give general information and views on NFT-based Video Games and NFT marketplaces. The opinions expressed in this article may be susceptible to alteration at any point with no prior notice.