Online gaming has taken the world by storm, so much so that digital tokens are now increasingly being integrated into gaming platforms around the world. These are known as non-fungible tokens (NFTs), and they’re becoming more and more popular within the gaming industry and beyond. This article explores what these NFTs are, how they’re used, and how they can benefit players in the future of digital gaming.
The current gaming market
More and more digital marketplaces are expanding. With so many options to choose from, it’s becoming increasingly difficult for gamers to find places that offer great value. One solution is to combine a marketplace with non-fungible tokens (NFTs) that can be used within games themselves. This can create a self-fulfilling token economy wherein gamers purchase in-game items with ETH or DAI that they’ve won playing games on other NFT-enabled platforms.
What are non-fungible tokens?
Non-fungible tokens (NFTs) are unique digital items, like a collectible card, a game character, or real estate on a blockchain. NFTs are unlike typical cryptoassets because each one is different from any other NFT on that blockchain. You can own several copies of an ERC20 token—the same as every other token in existence—but there’s only one Mona Lisa.
CryptoKitties case study
NFTs are already having a huge impact on gaming. The world’s first blockchain-based game, CryptoKitties , allows players to collect, breed, and transact cute digital kitties. Each cat is unique in its own way; for example, one kitty has whiskers that glow when touched by another kitty’s nose.
The future for blockchain games
NFTs are just one component of a booming blockchain gaming sector that’s poised to explode. By enabling gamers to hold their assets (such as characters, items, in-game currency, etc.) in a secure digital wallet outside of game servers, blockchain makes it easier for players to participate in virtual worlds. This is good news for developers too: they get real ownership rights and no longer have to rely on third parties such as Microsoft or Steam.
Where does NFT fit into gaming?
Non-fungible tokens will play a huge role in gaming moving forward. I see three main ways that blockchain technology will improve gaming, including new digital ownership, resale value (of digital items), and crypto rewards for playing. Before we get into these applications though, it’s important to understand why NFTs are great for games in general. It all comes down to utility, trust and true rarity.
Conclusion
I can speak from experience when I say, no matter what your age is now, you’re never too old to get in on the growing digital age. Whether you play video games, or are just looking for a new hobby or pastime to relax and unwind after a long day at work, there’s something out there for everyone; all you have to do is try it out.
