This article is to get you introduced into Non-Fungible Token Gaming. One of the newest ways games are being created, this takes decentralization one step further with your in game goods becoming a tangible item. Also it may be used by players who wish to trade their items without having to worry about what platform they are playing on.
What is NFT Gaming?
NFT Gaming is one of the most exciting developments in the blockchain space. Blockchain technology provides a new, transparent way to track ownership on digital assets. This brings us to Non-Fungible Tokens (NFTs).
Read More: How to create and sell NFT?
How does NFT Gaming work?
NFTs are made up of unique tokens which cannot be replaced or exchanged with other tokens within the same platform. If you own an NFT token, it is 100% yours and no one can take it from you. It also means that you likely have full control over how your item is traded! NFTs can take many shapes and forms: avatars, animals, collectables and much more!
The games built with NFTs allow you to do things like breed and trade digital kittens, battle others or even check out your latest CryptoKitty.
Although many platforms support NFTs (Ethereum, EOS and TRON), each platform has its own unique tech stack making them different from one another!
Ethereum is home to some of the very first examples of NFT applications but new platforms are sprouting up that are changing how tech looks at gaming.
List of NFT games
Axie Infinity is a virtual world full of fierce, adorable pets called Axies. Axies can be battled, collected, and even used to earn cryptocurrencies with real value. Let’s learn how to set up your digital wallet, buy Axies, and download the game.
Game Status: Working product with a growing user base.
Platforms: Web, Android and iOS
What it is: Catch, breed and collect unique digital cats! Breed your rarest cats to create the purrfect furry friend. Sell them on the marketplace for 500% more than you paid or use them in the game as currency!
Start Date: Nov 2017 / End Date: Ongoing
Why you should check it out: Because cats! But seriously, this is one of the few successful blockchain games that started at the end of 2017 when interest for this technology was high but there were only very few actual applications using it. Nowadays you can find dozens of projects still trying to figure out what could actually work in terms of creating an interesting product. CryptoKitties stood out from the rest with ease
The Sandbox is a community-driven platform where creators can monetize voxel ASSETS and gaming experiences on the blockchain.
A virtual pet non-fungible token (NFT) game on Binance Smart Chain, combining elements of an idle RPG game. Players can collect and trade eggs, ambrosia (fusion), characters, items and land.
Sorare is a fantasy game of football, where players buy, sell, trade, and manage a virtual team with digital player cards in NFT.
NFT Collectable cards. That’s it.
How to play NFT games?
Currently, there are 3 ways that you can get into the NFT space and play NFT games. Read on for more information on these methods of entering this exciting area!
1. Buy ETH & stake it in a DApp NFT games
The most popular method of starting your journey with blockchain games is by staking ETH on the platform of your choice. This allows you to start earning passive income by either collecting fees for having items in the game or by receiving a % return of your initial investment! The most popular game using this method of NFT mining is called Etheremon.
Etheremon has over 40,000 monthly active users and $3m+ USD volume on transactions each day. To put that into perspective, CryptoKitties had around 50,000 active players in its’ hayday with roughly $5m USD volume at their peak time! On top of staking on this popular game, it also boasts 6-7 new content releases every month! You can get started here .
2. Buy NFTs off of a marketplace
The second most popular method is purchasing NFTs off of a platform’s secondary market.
Although this may seem like the cheapest and easiest way to get started, it does come with its’ risks!
There are no guarantees that the item you purchase will be profitable and there is no guarantee on how much you can sell your NFT for. Although rare, fake items do exist so always double check before making any transactions!
One such site to find these kind of items is OpenSea.
3. Build your own NFT games application
If you have experience building decentralized applications or if you are looking to start learning blockchain technology, why not build your very own game? Start with your first dApp and who knows…
Although this option takes more time, effort & money, it will be worth it in the long term.
Blockchain is a new industry and having an early mover advantage can definitely pay off! If you are looking to get started on this process then check out our free guide on how to build your first blockchain application .
NFT games: About the NFT gaming industry
Although currently, there aren’t many NFT-based games out there (there are about 13), these numbers are expected to grow rapidly with the introduction of new protocols like:- Modular Monetization Protocol for Gaming Applications . These game developers include:
As the popularity of Ethereum-based games grow, so do transaction fees which make it expensive to play these types of games. This is where other platforms come in to make the blockchain gaming experience smoother for all parties involved!
What are your thoughts on NFTs? Do you think they will be a driving force behind the next CryptoKitties explosion or do you think they will fade into obscurity? Let us know in the comments below!
#gaming #cryptokitties #blockchain
THANK YOU FOR READING 🙂