How NFTs will change the entire Gaming Industry
The NFT fever is everywhere. Owning digital assets is no longer a far-away possibility in a futuristic movie. Anyone can create and buy a Non-Fungible Token with or without cryptocurrency knowledge. And it was just a matter of time until the Gaming Industry got hold of the enormous potential NFTs hold. We’re here to let you know how NFTs will change the entire Gaming Industry — and why you should get on board as soon as possible. Let’s dive in!
The gaming industry is slowly adopting NFTs and blockchain technology
The NFT market is still in its early days. But the potential is already huge, and the gaming industry is taking notice.
There are already a few games that use NFTs in some way, and many more are in development. The most popular game that uses NFTs is CryptoKitties, allowing players to collect and breed digital cats. But as public interest in NFTs grows exponentially, more game projects are jumping into the metaverse and using NFTs.
We’ve already seen a surge of NFT-based games and game assets created and traded in the past year. So this trend is only going to continue as more people learn about NFTs and their potential.
So, how will NFTs change the gaming industry? Let’s take a look at some of the ways:
Game developers find in NFTs new revenue streams
One of the main benefits of NFTs is that they can create new revenue streams for game developers. With NFTs, developers can directly sell in-game items, characters, and experiences to gamers. This is a big departure from the traditional selling game model through app stores or gaming platforms.
Blockchain technology will also help developers with game distribution. Developers can create their own game storefronts or marketplaces without a middleman, which allows them to reach a wider audience and sell their games directly to gamers.
NFTs will give gamers true ownership of in-game assets
Another big benefit of NFTs is that they give gamers true ownership of in-game assets. With NFTs, gamers can own, trade, and sell in-game items without the need for a central authority. This gives them a lot more control over their in-game assets and what they do with them.
NFTs will also allow gamers to profit from playing
One of the really exciting things about NFTs is that they could allow gamers to profit from playing. This is because NFTs can be used to create play-to-earn games. In these games, gamers can earn game tokens by playing the game. These tokens can then be exchanged for fiat currency in real life.
This is a big deal because it could create a new class of professional gamers who make a living by playing video games. It could also lead to more people taking up gaming as a hobby because they know they can earn money from it.
Now you know NFTs will change the entire gaming industry
NFTs are still considered a novelty, but it’s already clear that they will impact the gaming industry. Major companies of the traditional gaming industry have already taken notice and started investing in blockchain gaming projects — Ubisoft, for example.
So, if you’re a gamer or game developer, it’s time to get on board the NFT train. The future of gaming is here, and it’s built on blockchains. Are you ready to join us on this exciting journey?
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Originally published at https://ladynakamoto.com on April 9, 2022.
