Have you ever heard of an NFT game before? If you’re not familiar with them, NFT games are basically games that are based off non-fungible tokens (NFTs). So what’s an NFT? In the context of gaming, it’s a digital asset that can be used to prove ownership or unlock specific items or abilities within the game. They are unique in that they cannot be copied, destroyed, and can’t be interchanged with other copies.
What are Non-Fungible Tokens (NFTs)?
Simply put, non-fungible tokens (NFTs) are unique digital assets that have their own value and can be traded with others. They cannot be broken down into smaller units. Non-fungible tokens have exploded in popularity recently thanks to blockchain technology and games like CryptoKitties, which allow users to trade them. One of Ethereum’s most popular applications, CryptoKitties has over $25 million worth of digital kittens on its platform. In more general terms, though, NFTs aren’t just used for cats; they can represent ownership of almost anything.
Why Use Non-Fungible Tokens (NFTs) in Gaming?
Many people are confused as to why we use Non-Fungible Tokens (NFTs) in games like CryptoKitties. Why can’t it just be a regular ERC20 token that you purchase on an exchange, and use to purchase items on our game platform? How do you get any actual gameplay out of something that isn’t fungible? The answer is: We don’t. That’s not what an NFT game is about. In fact, when most gamers think about non-fungible tokens, they think of it as crypto collectibles. And that isn’t exactly true.
How Does it Work?
There are two ways to make money with NFT games: buy and sell digital items or create and host your own games. One of every 100 coins created in our game Cryptokitties was converted into a special Gen 0 version that only existed on that one particular blockchain; when these were sold, their new owners were able to play with them just like any other NFTs in our game. Creating and selling unique digital items has become a popular way for developers to monetize their assets without going through centralized exchanges or storefronts. The same approach could work for any kind of game—be it sports, card or fantasy sports related. We see it as being a relatively frictionless process once players have been onboarded onto a decentralized network, like OpenSea.
Tools for Developers
NFT games are quite a bit different than any other type of game that you’re likely to come across. Instead of just playing with your friends, you can actually earn money while playing. It’s a great opportunity for anyone looking to make some extra cash, and it’s also a great way to build your own community around crypto in general. If you’re thinking about getting into NFT games but aren’t quite sure where to start, check out our guide above. We’ve given all of our best advice on how to get started with them, including information on where you can purchase assets and which ones are currently worth investing in.
The best way to make money in gaming, whether you are a game developer or gamer, is through Non-Fungible Tokens (NFTs). The cryptocurrency space and particularly blockchain games represent a huge untapped market with endless potential for growth. And as long as there’s strong user adoption and growing revenue streams in cryptocurrencies. it will be difficult to ignore these opportunities. You don’t need years of development experience—or even much money—to create your own game; non-fungible tokens allow you to distribute your content quickly, securely and without fees. A lot of developers are still trying to figure out how best to use these new tools.