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Can NFTs play-to-earn game usher in the next generation of platforms?

Blockchain technology is taking the world by storm with massive leaps into various fields such as the arts, sports, real estate, finance and now gaming. The first NFT game propped up in 2017 in a Crypto Kitties video game and a pixel art CryptoPunks giveaway. It gained short term popularity and went back into its shell during the 2018 crash. A new wave began later till date. This article explores NFT-based online video games. Enjoy!

NFT-based Online Video Games explained

Non-Fungible Token (NFT) are proof of ownership of digital assets. It’s equivalent to having copyright over a piece: artwork, music, design or any other digital asset. For instance, Leonardo Da Vinci, the artist that painted the Mona Lisa image died over 500 years ago. The Mona Lisa image has remained relevant since then, it can be downloaded and printed on a shirt by anyone. The image is not owned by anyone, so, no one can claim ownership of it. However, since the French government can prove its authenticity via its provenance, the Mona Lisa in the Louvre is considered priceless. The priceless image and the one on the shirt are two worlds apart. Let’s say the priceless one can be sold as NFT. The rise of NFTs led developers to shift their gaze to the opportunities of online Play-to-Earn games for game lovers. 

NFT-based online video games combine conventional gaming designs with unconventional game mechanisms that allow users to have control over in-game assets such as skins, characters, weapons, virtual lands and others. These features are supported by launching games on blockchain technology and anchoring them with asset-powered economies 

NFTs are commonly used for these digital assets since they are distinctive and tamper-proof. The implementation of NFT token standards also allows developers to keep certain of these in-game objects rare and distinctive. As a result, some blockchain gaming assets are seen as more valuable than others.

Players can claim ownership of game assets using three basic tactics with this system in place. They could create or breed new characters, buy digital products on native or third-party marketplaces, or earn and unlock additional items. You have exclusive ownership rights to these game assets regardless of how you access them. In other words, you can distribute or sell them and keep 100% of the profit.

Rise of NFT-based Online Video Games

When the Covid-19 pandemic got heated in 2020, the stay-at-home order and its resultant effect in ravaging jobs and businesses across the world led most people to look for other ways to earn money online. This led to the popularity of NFT-based online video games which raked in $20billion in 2020 alone. One such game is the Axie Infinity where players collect, breed, raise, battle and trade digital creatures. Participants of this game rake up to $400 per month which may vary based on the exchange rate of the game’s cryptocurrency in USD. The game does not require special skills before it can be won making it one of the legit ways to earn money online. Most Filipinos earn a living through this game as it gained popularity by June 2021. Play-to-Earn games often require players to pay an up-front cost through cryptocurrency to play the game and receive the game’s prizes. These ‘prizes’ can be sold later when they increase in price. 

Is the NFT Play-to-Earn game ushering in the next generation of platforms?

The NFT Play-to-Earn game is an innovative way of earning money online in the form of leisure. Before now, it was Pay-to-Play without gains attached; except for the feelings of satisfaction. The popularity that online NFT games have attracted to themselves show how fast the industry has grown within a short time. Players now spend hundreds of dollars just t get an upgrade on their avatar or to access a highly coveted item. There are an estimated 1 billion online gamers currently active worldwide, experts forecast that the number will grow to 1.3 billion gamers by 2025. 

Nothing feels good more than earning in your leisure time. For game lovers, this is a chance for you to do your best and earn with it. What an utmost spree of enjoyment!

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