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What is NFT Gaming?

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What is NFT Gaming?

We are familiar with NFT art and its lucrative returns. Another budding use case for the non-fungible tokens is NFT gaming. The blockchain-based games like Grit – as this Thai article suggests, provide more realistic and exciting gameplay than regular video games. In this post, we review what NFT games are and how to get in on the action. Even more, you can earn on NFT gaming. Let’s learn how.

What Is NFT Gaming?

If you are unfamiliar with the NFT concept, they are unique blockchain derivatives with an abstract value. NFTs range from pictures of smiling monkeys to game collectibles. NFT games are blockchain-based games that reward players with collectibles and other in-game assets that are non-fungible. Non-fungible means you can’t replace the item with another.

Players can earn the NFTs through completing quests and tokenizing their possessions, such as characters or tools. NFT gaming is common in play-to-earn games or is commonly referred to as P2E.

How Do NFTs Work in Gaming?

The main reason why gamers have shifted to NFT gaming is that they get rewarded for their time. Since NFTs are sometimes pricey, the games act as second-hand marketplaces. The NFTs are run on the game’s supporting blockchain. Solana, Ethereum, and Binance Smart Chain are the main supporting networks.

Players exchange cryptocurrency and receive NFTs they can use in specific in-game situations or hold them to resell at more value than the purchase price. You can also exchange NFTs or interact with other players’ NFTs in the form of avatars.

When monetizing your NFTs, it is essential to note the price depends on the market demand and in-game mechanics. To put this into perspective, consider FIFA’s limited game skins in ultimate career mode. The demand is high when the season starts and, as such, it will cost more.

NFT Games List

In such a vast market, it is hard to distinguish valuable NFT games from Ponzi schemes. However, our list contains the best games with an active community and proven reward history. Some games require initial investment while others don’t. Here are the best NFT games of 2022:

  • Axie Infinity
  • Vulcan Verse
  • Splinterlands
  • Gods Unchained
  • Pegaxy
  • Decentraland

The Future of NFT Gaming

NFT gaming will inevitably take off. Major publishers such as Square Enix, Konami, Ubisoft, and EA are flirting with the idea of integrating NFTs into their gaming offerings.

NFT gaming still faces a UX design challenge, especially for entry-level games. However, with increased knowledge about blockchain technology, we can expect better games that combine real-life actions with the game’s avatars.

Over 3 billion gamers by 2024 will have some level of control. Generally, players will control the sale of NFTs such as skins and other collectibles in-game.

Outlook

NFT gaming is taking the gaming industry by storm. The lure of NFT games is that they have a monetary value. Cross blockchain compatibility means players can convert their NFTs to crypto on virtually any blockchain. If you want to try NFT gaming, consider the list above and take your pick.

 

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