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Non-Fungible Tokens may soon transform the online gaming industry. This is mainly because they render easy access for all the players with unique virtual items in the digital world. Passionate gamers are showing massive interest in collecting real-world items. In contrast to that, digital collectibles haven't yet caught up with the wider market.
Users feel that it is hectic and harder for them to own a digital item because they are not 'exclusive' in a physical sense. That means those items were not unique, and it can be easy to reproduce multiple times.
This issue was addressed and blemished by technological advancement. That's where blockchain came into Play. It is a distributed LEDGER system that facilitates a degree of trust in digital items.
This made the virtual in-game items to be 'non-replaceable' and can be transported by an individual using immutable blockchain technology. This defines that they cannot be deleted unilaterally, altered, or withdrawn by anyone and even the creator. NFTs guarantee certain ownership to the users who own them.
Players can obtain NFTs by just playing video games. This has now become so easy and elegant for passionate gamers to own NFT.
Play To Earn - A New Business Model.
While the Play to earn concept is still emerging in the NFT niche. I believe that it could revolutionize the gaming landscape. This method allows players to monetize their precious time 'play to earn.' This can be continued over time and can become a popular free-to-play game.
The main aim objective of these free-to-play games is to offer more value in-game for users that keep them sane and let them play for a longer period.
Some games that support NFTs encourage their players to make an in-app purchase which enhances users' gaming experience, and also, this way, gaming companies can create a revenue model.
In traditional gaming, players receive digital assets for their invested time and money. Additionally, the game developers have full control over in-app purchased items. This means they have the ability to change or even delete them at their own discretion.
In contrast, this may change with NFTs in video games. In an NFT-based game, play bm ers are given unique digital items for fulfilling in-game items. The transfer of NFTs is executed through smart contracts. This automatically sends these NFTs to the players when certain conditions are met. Since the data stored in the ledger system cannot be altered or changed, there is no chance for third parties to undo or disagree with any smart contract condition.
Therefore, non-fungible tokens are represented as rare and unique items.
These NFTs evolve into an asset for which people would be willing to pay tons of dollars. These values can even grow if the NFTs are linked with real-life experiences.
Your Takeaway From This:
NFTs in gaming are here to stay!
Even though NFT-games are still in the emerging phase, competitors for Triple-A-Games like FIFA or Fortnite, Call of Duty (COD) are flirting with the idea of executing NFTs into their digital worlds. Many crypto enthusiasts believe that NFTs will show considerable promise to transform the video games sector in the near future.
