The rise of cryptocurrency and blockchain technology is one of the biggest innovations in the tech space. The reason for the development is that this technology is powering other forms of technology and growing in leaps and bounds to revolutionize the way we do lots of things. One of the biggest revolutions is gaming with the introduction of NFT gaming.
NFT gaming is the infusion of NFTs into gaming, thereby making NFTs a unique part of gaming activities; this means that players receive a better, more personalized gaming experience and reward while also being more entertained. Furthermore, NFTs on their own are collectibles that can be used as digital assets and be converted and exchanged in more than one way.
The growth of NFT gaming has made the question of whether NFT is the biggest innovation in gaming one of the main discussion points. Another point is whether it is the future of gaming. While answers vary, a recent BBC report noted that the CEO of one of the biggest gaming companies in the world, Electronic Arts (EA), described the NFT as the future of gaming. He also noted that even though the technology is new, it will change the way players want to experience gaming.
So, for anyone looking into how to participate in this emerging gaming phenomenon or asking questions about how NFT gaming works and other details, this article is for you.
WHAT IS NFT GAMING?
As noted in the earlier part of this work, NFT gaming is the infusion of NFTs into the gaming experience. As a result, a player has more control, gets a better-personalized experience, and gets rewards from playing games.
Many people assume that NFT gaming is a monolithic concept, but this is far from the truth as the concept has different applications in different gaming platforms that are available.
One of the earliest forms of NFT gaming is Cryptokitties which allows collectors or players to buy, breed, and exchange kitties. It was very popular and, at one point, was one of the leading activities happening on the Ethereum blockchain.
Also, one of the most successful NFT gaming is Axie Infinity, which allows players to be rewarded for breeding NFTs called Axies. Again, the emphasis of this model was to reward players.
One of the biggest innovations in NFT gaming is a WIP project by RiseAngle codenamed Word of Mazes NFT Games Metaverse. The game developer and publisher describe their games as innovative and fun and seek to incorporate them with a virtuous gaming experience for the player.
They want to achieve their aim through immersive storytelling, which they believe is still at its infancy level but will grow as the NFTs, Metaverse, and gaming technology grow. They already have five games out and are working on more groundbreaking games that will be released in the future.
How Play to Earn Works
Play to Earn is a new model fueled by the rise of NFT as part of the gaming industry. This model is different from the older reward systems in that the players in a game may have to lose their rewards if they leave the game.
With the new NFT games, one could do more with the reward being gotten, including exchanging them for fiat cash or other collectibles or taking them from one part of the Metaverse to another part on the same blockchain networks.
The reward system of NFT gaming is because the more the player plays, the more they generate more rewards for other players, the game developers, and the investors. The players earn rewards in terms of NFTs or even crypto tokens. This system is popular because it rewards gamers and finds more rewards in their activities. The sharing of the value between the players and other levels of the ecosystem.
Many players are turning to play-to-earn platforms full-time, which means that similar to the revolution that occurred with the introduction of game streaming, play-to-earn will allow more gamers to do what they love while getting paid and rewarded for it.
Will all Games Integrate NFTs?
The question becomes whether NFTs will be the future of gaming and, if yes, how much the integration can be. Unfortunately, the question does not have a yes-or-no direct answer, as it would be foolhardy to predict future behavior based on the current data.
However, we could predict that NFT and gaming have a future together. In the BBC report quoted earlier, the CEO of a major gaming company that has made a name for itself in the traditional gaming industry described NFTs as a great part of the future of gaming. The implication is that even the traditional gaming industry is beginning to recognize the rise of the NFT and its importance in the gaming industry.
Also, the fact that NFT technology offers the player a chance to earn rewards from playing games while experiencing the game means that many gamers will gravitate towards it and choose it over other forms of gaming. Along with the innovations happening in the space, one could say that NFT will change gaming as more and more companies innovate on it and more traditional gaming heavyweights seek ways to adopt it.
Many innovations are happening in the blockchain and cryptocurrency space. One of these innovations is the NFT gaming innovation, which seeks to integrate NFT into the general gaming experience of the players.
The question now is whether NFT is the future of gaming. While there is no straight line owing to the very nature of NFT and the fact that no one can predict the future, one can still understand that NFT has a big part to play in the future of gaming.