NFT Games Could Soon Become the Full-time Hustle for Gamers
Let’s play a game – how often have we heard this phrase since childhood! Gaming platforms have had multiple shades over the years – a companion, a pick-me-up pal, an interactive system. However, they’ve never had this monetization potential until a blockchain-linked digital asset (non-fungible token) stumbled upon the ever-lucrative gaming industry.
NFT or non-fungible token is a digital asset representing real-world art to music and in-game items. Blockchain technology allows users to track their ownership with great precision. Everyone can see who previously had the NFT, who currently owns it, when each transaction took place, and how much money was spent. Owners can also use the public ledger system to prove that they own a genuine NFT. When someone buys an NFT, the blockchain validates that they are the legitimate owner.
NFT games blend traditional gaming components with innovative gameplay techniques. Players can claim ownership of game assets in three ways now that this framework is in place. They can make new characters, buy digital items on the native or third-party markets, and get and unlock new items. You have exclusive ownership rights to these game assets, regardless of how you obtained them.
Balthazar Community Report
Balthazar is a play-to-earn NFT gaming platform that intends to connect people with NFT investors. This decentralized gaming platform empowers gamers with a self-sustaining and wealth-building ecosystem.
Balthazar, a Filipino Gaming platform, has issued its community insights report, which indicated that one-third of respondents (32%) prefer to quit their jobs if they could play NFT games full-time. The naysayers find play-to-earn (P2E) NFT games are still in their infancy to provide them an adequate income. Also, some survey respondents think that the unaffordability of NFT assets can be an issue. That’s where an NFT lending platform comes in with its timely scholarships, lendings, etc.
This report directly highlights the fact that the trend of people quitting their jobs for NFT games is definitely picking up. Another noteworthy thing is that NFT gaming communities also have a benevolent side. A play-to-earn gaming group Yield Guild Games (YGG) have raised around $1.4M for the typhoon-hit Philippines during December 2021.
Trends that Could Woo Them (in the Long run)!!
The play-to-earn model is nothing new in the gaming business. However, blockchain has made it more egalitarian, and the profitability of NFTs has improved. Playing blockchain-based games rewards players fairly, allows them to participate in game development decisions, and allows them to earn or harvest NFTs that can be used across several games.
The metaverse is already present in the game in various forms. At online casinos, players can choose from a variety of games, including traditional board games and themed slot machines. Many firms have started incorporating their gaming platforms in the Metaverse to offer their users an immersive experience. These metaverse-inspired NFT gaming platforms use augmented reality to combine digital and physical elements to provide a more dynamic and engaging experience.
Many NFT-based games allow players to use tokens for farming new exotic NFTs. Users that wager their token, for example, are rewarded with one-of-a-kind cards, sets, and chests. These NFT objects’ rarity can be divided into visual rarity and game-play rarity. When farmed, the visual value of NFTs will include features like a background, a card frame, and more. A game-play rarity-based NFT item appears to be a weapon that may give players an advantage over their opponents.
The freedom to monetize gaming enthusiasm could persuade more gamers, and that’s what recent reports suggest. There may be a time (in the future) when gamers will be running short of gaming platforms. Are you an entrepreneur? Indulge in the NFT Gaming platform development and build a game that excites gaming aficionados. Do you wonder – where to start? Hire a gaming development company!