The world of gaming has always been changing. Since the advent of the internet, numerous types of games can be played on the internet, including games for casinos. Games previously only accessible on consoles, or on in-house are now available using compatible devices and the internet.
The change in technology has brought issues. In the last few years it is getting increasingly difficult to tell which gaming website is legitimate. However, websites like https://bltzr.gg have made things easier by weeding out the chaff through well-researched reviews.
The incorporation of Non-fungible Tokens (NFTs) in games could be changing the game in the way we think of it. First time ever, players are able to convert their gaming reward into money. This has resulted in increasing awareness and the growth of the industry of NFT. For those who don’t understand what NFT gaming isabout, let us be able to provide a brief explanation.
What is NFT Gaming?
NFT games, sometimes referred to as play-to-earn-games, are games that pay players NFTs or tokens for the hours of playing. Tokens are typically the primary prizes, while NFTs can be obtained by luck. Players may also purchase NFTs that are in great demand through other players and keep until the value rises before selling.
An excellent example of a pay-to-earn NFT game to play is Axie Infinity. The game awards gamers with the Smooth Love Potion (SLP) tokens and NFTs, also known as Axies. This SLP token can be found on exchanges such as Binance in order to let players exchange them for real money.
Benefits of NFT Games
There are a variety of reasons many people believe NFT games could be the new gaming trend. NFT games have advantages that aren’t found within traditional gaming. These are:
- Offers a Source of Income
In many developing and underdeveloped nations with weak economies, rate of unemployment is extremely high. The games offered by NFT give people in these areas the chance to earn money by doing what they enjoy most-gaming. playing. In places such as that of Philippines, Axie Infinity is extremely popular and players from the country are reported to earn between $200 and $1,000 each month.
- Ownership of In-game Assets
If players buy items from traditional games, those items remain with the game and aren’t exchangeable between players. When it comes to NFT games however, the scenario is different. Players are able to trade their NFTs between supported platforms, or sell them to other players , if they choose.
Each NFT can be unique, and can’t be duplicated because they’re built upon blockchain technology. It means that customers can rest certain that the NFTs they have earned cannot be stolen or duplicated. In the event of a fraud, or when a person gives an untruthful smart contract the ability to access their bank account, it is impossible to lose the NFT.
- Provable Scarcity
The value the value of an NFT is typically dependent on how rare it is. The blockchain technology upon the basis of which NFTs are built helps maintain the transparency of an NFT. This makes it easier to determine who owns an NFT and the amount of it.
- Transaction Fee Commission
The advantages of NFT games aren’t restricted to only players; developers are too. If an NFT becomes owned by a different person and the game’s owner changes ownership, the publisher of the game can charge an amount equal to the cost of the transaction. In this way, the game publisher gets paid each when the NFT becomes available for sale. A number of NFTs were sold for millions of dollars. So this is an excellent opportunity that game developers can make money.
- Ability To Attract Venture Capital
Investors who are good, particularly those with a thorough knowledge of NFTs and cryptocurrency They are always searching for exciting projects they can invest in. Game developers can take advantage of this advantage to gain venture capital to their businesses.
NFTs might seem like something new in the world of gaming, but the reality is NFT games are in existence for a long time. First NFT game called Cryptokitties launched in the year 2017. Axie Infinity was released a year later but was not popular when it was released until it was released a bit later.
There is no doubt that NFT games have brought about a major transformation in the gaming industry and transferring power to players. They bring benefits that were previously considered impossible to gain from games. There is no longer a time when the hours spent playing video games was viewed as wasted time. Nowadays, it’s like working full-time.