NFT Gaming: The Coming Platform War

NFT Gaming: The Coming Platform War

The collision and overlap between the world of cryptocurrency and video games are undeniable. Moreover, when we refer to the system involving NFT games as play-to-earn, we mean the broad decentralized storage and processing network approach that blockchain technology is known for. Moreover, in the gaming experience of the newbies, there is a whole new generation that is excited about adding profitable adventure to their entertainment through games. 

As it is, not many of the traditional gatekeepers of the gaming industry are open to new innovation. But it is expected at first for new technologies. Meanwhile, the fastest-growing blockchain technology involves crypto gaming through NFT. It is not showing a sign of stopping any time soon. 

What do traditional games look like?

At the beginning of video games, quarter slots and some arcades come to mind. Afterward, games came through innovation and experimentation of various sorts, and we have different models. We had free-to-play games that were monetized through an in-game economy of digital goods. 

The age has come for the play-to-earn, which belongs to another level of game management of a new paradigm. These NFT games are based on creating a real-world value out of a virtual space, including digital goods with non-fungible tokens, cryptocurrency, and the entire blockchain technology. The new development also catches up on the foundation of the metaverse through social media and gaming firms from creation. learn more about big fish NFT games at https://beteogames.com/the-big-fish-is-nft-gaming/

Crypto is overtaking the gaming industry

The new play-to-earn system started as one of the latest buzzy innovations, but crypto enthusiasts jumped at it. Other stakeholders such as new startups and investors saw an opportunity to apply their conceptual reality to relatable digital products and services. Some of the reasons why all these changes happened at first were because

  • The idea was simple. A simple idea that only requires you to play a free game title and pays you to play it is exciting news. Moreover, it is n contrast to the other gaming system that involves buying a game console outright and funneling money into playing the pay-to-win systems. Although this new system is more profitable, it is not always entirely free. Because the company that makes them may require a small financial stake before you begin.
  • Game players on the new platform can also get handsome awards unique to them and their abilities. In addition, their ownership of such items can also be verifiable through the same blockchain system. Afterward, the item can be traded, sold, or bought where the request can now be transferred. The tech system has a unique identifier that it ascribes to each variable value for the quality.
  • The exchange is based on the operated cryptocurrency inside the game, just like the Pokemon-like game, Axie Infinity. By now, the parent company’s valuation is up to $3 billion. 
  • NFT games are not also too different from the initial description of digital art pieces. But it can also contain trading cards and other online collectibles that are not easy to be swept under the carpet or ignored. Moreover, the NFT games interfere hugely with the world’s actual world trades and gaming economies, which is another factor of its skepticism.

Valve is now involved in the battle

After the entry of Valve, a company that operates on the dominant PC gaming technique, things got a little bit messy. There was first a quiet ban on all the application that runs on blockchain technology, especially since it allows or issues an exchange for NFTs and cryptocurrencies

When probed further, the company was not ready to divulge any more information, but the following facts were gathered

  • Steam’s ban on blockchain technology cannot ensure that play-to-earn games will not break into the mainstream of things anytime soon.
  • Presently, no company has yet broken through any of these NFT games into the Google or Apple stores for acceptance and the provision of a few alternative avenues through which it can reach new players outside of the traditional methods of distributing content on Android or desktop apps
  • There is hope that Apple and Google may eventually allow such NFT games on their application and stores in the long run. The reason is that none of these two platforms has been explicitly open about the ban of cryptocurrency-related personal affairs.

NFT Boom is not avoidable

The NFT boom is coming, one way or the other. But the better way is o admit that it will go and place oneself on the right side of it. There will be many factors responsible for how these questions may be asked and answered by then. But vital will be the support from media giants like Valve, Google, and Apple. In the beginning, it may not look like anything is happening. But in the end, the world will react to you positively.

  • Axie Infinity is a perfect example of what will eventually happen to some of the reservations that some companies may have. The game has a complex economy while representing two currencies in breeding the Axies. One can also earn the battling axis and sells the available ones.
  • Axie Infinity also runs an all-new cryptocurrency through a unique system. Meanwhile, it has grown its plyaers immensely from a few thousands to millions of dollars in value in the past few months. 
  • As more investors are interested in this innovation, we will be seeing more creative projects with more opportunities for game players to earn money. In addition, the new companies that emergy will be adding new values to their investments.

Conclusion

On a final note, the way among the components that make up the new NFT games model is accurate. But so is the potential that the new game technology has. The skepticism will gradually fade off as more people gain apt knowledge about how it works and how much profit it could give. 

The Big Fish is NFT Gaming

NFT Gaming

Blockchain gaming is changing the game business and user experience fundamentally. NFTs and blockchain technology provides enormous financial benefits to both founders and participants. Play to earn games have been transformed into personal collections, and we’ve seen how fast these non-traditional collectibles may become quite expensive.

NFTs may be used to store characters, weapons, and other trading goods in blockchain play to earn games. All of these things are tradeable on decentralized exchanges and, in the future, maybe interoperable with numerous gaming platforms.

Players may sell their NFTs in-game to other collectors and players, or they can earn play-to-earn tokens, which are not unique but can be used as currency in the decentralized economy. With an increasing number of individuals seeking online income, these blockchain-based gaming platforms provide several opportunities, as well as real-world success stories like Axie Infinity.

The amount of money that an individual may earn by playing NFT play to earn games is governed by the game’s mechanics and the market demand for the tokens they acquire. In other circumstances, these tokens must be exchanged for a larger cryptocurrency, such as Bitcoin, in order to be used as cash. They may also be spent directly on the local economy in certain situations. play earn games are not expensive, you can read about them at https://beteogames.com/nft-games-that-cost-less-than-100-to-invest/

New players who are unfamiliar with blockchain gaming may be unaware of both the benefits and hazards associated with this sector. Regrettably, there are scammers in the sector, since the blockchain gaming field is unregulated.

To prevent being duped, it is critical to developing a sense of community. A social site like Gamers that specialized in offering guides for popular NFT play-to-earn games may be worth a look, particularly if a player is new to both cryptos and blockchain gaming. By establishing a social network centered on NFT gaming, gamers will be able to connect with gaming studios and with other players. This will reinforce and simplify information exchange, as well as screen out potential negative actors. Additional features, such as the drop calendar and find the page, assist players with locating authentic NFT drops from trustworthy projects.

Additionally, there are other possibilities, such as Reddit, that may be beneficial. Additionally, it may be worthwhile to check into blockchain gaming Telegram groups — but proceed with caution, since these open forums are rife with grifters.

Might Be Greater Than DeFi

Bitcoin was a tremendous technological advancement. However, Bitcoin is fundamentally a financial asset. Gaming is a large industry that draws individuals of all ages and origins. People like play to earn games, and the prospect of their hard-won riches having genuine worth is an enticing one. Apart from the delight acquired, the majority of the time and effort we spend gaming is often in vain. Everybody’s desire is to mix money with passion.

Numerous DeFi systems have raised development funding via the sale of tokens, and the same mechanism may be utilized to fund game development. Unlike DeFi platforms, however, play to earn games may be engaged with on a daily basis. Decentralized tokens just lack the same allure. It’s not difficult to see how a mutually beneficial partnership may develop in the blockchain gaming area. Gaming studios may fund development via NFT sales, and players can profit from their investment. Win-win.

However, this world is fraught with hazards and is far from benevolent. Investors and bankers are profoundly divided on how cryptocurrencies will ultimately play out, but they agree on one thing: prices have been extraordinarily volatile. While Bitcoin, Ethereum, and others continue to gain traction on Wall Street, the greater world is being inhabited by an ever-growing number of new and unproven meme currencies — some of which are so dubious that they are dubbed shitcoins.

There is no assurance that these tokens can be exchanged into cash due to technical difficulties and price fluctuations. Additionally, it is considered a rite of passage in the crypto industry to be scammed at some time. While this may be acceptable for affluent investors willing to take on risks, it may leave market participants, particularly in developing countries, exposed.

Axie 

Axie, the pioneer of this “GameFi” movement, has already produced over $2.5 billion in trade volume. Numerous other competitors are also gaining popularity, providing play to earn games that entice players with the promise of cryptocurrency. Venture capitalists and hedge funds are attempting to cash in on what they anticipate will be a new online gold rush in which billions of people will swipe, crush, shoot or murder in the hope of earning digital tokens.

Axie is quite attractive in comparison to the several stunningly realistic play to earn games available. It revolves around Pokemon-like creatures that battle and reproduce in a straightforward strategic game. What makes it unique is that, in addition to receiving stars, hearts, or crushed sweets for winning this game, players get something much more valuable: Smooth Love Potion.

Earning money via gaming has revolutionized the lives of some gamers, particularly in the Philippines, where it soared in popularity as the epidemic left many unemployed, and cash — as well as digital tokens — go a long way. At the very least when their prices increase.

It is hard to determine the actual number of persons that play for financial gain. However, all indicators point upward. One indicator is the connection between play to earn games and digital wallets, the accounts used to receive and store cryptocurrency. According to DappRadar, a startup that collects statistics on decentralized finance, about 51,000 daily active wallets were linked to gaming-related contracts in the blockchain ecosystem as of last March. Three months later, that total had risen to 359,284 – an increase of 599 percent.

Axie demonstrates why tech giants gravitate toward the concept: The metaverse and its possibilities have the potential to fundamentally alter not just how we work, earn, and spend, but also how we live, plan, and manage our lives. They essentially pledge to alter the way capitalism operates.

“Axie epitomizes a new age of play to earn games, in which artists are not motivated by fear, but by an open, free market economy,” stated Arianna Simpson, general partner at venture capital company Andreessen Horowitz, which invested in Sky Mavis, the Vietnamese studio that produced Axie. “What this implies for the future of gaming, and indeed the web as we know it, is only limited by your imagination.”

Simpson is alluding to something more than the fact that Axie players may earn cryptocurrency. Axie explains how a critical component of the metaverse — the non-fungible token — works and why anybody may desire one.