In-game NFTs from blockchain games are the new trend and it is expected to shape in-game economies in the future.
Over the years, the idea of gaming, especially video games, has evolved significantly from a straightforward Pong game to intricate console software programs.
Gaming serves as a diversion and a way to unwind and it has gone through many trends. Right now, we have games that are based on blockchain technology that rewards gamers with NFTs.
In-game NFTs is one of 2022’s biggest new NFT trends, and it is something that would be hard for gaming developers to ignore. The world is currently seeing major developers like Square Enix, Ubisoft ,and EA taking interest in this trend.
What are in-game NFTs?
Before we talk about what in-game NFTs are, let’s briefly look into what NFTS are.
Non-fungible tokens, or NFTs, are virtual collectibles that are one-of-a-kind, irreplaceable, and difficult to replicate. These Nfts could either be images, music, or any form of art.
In video games, NFTs typically take the form of items that players would gather while engaging in the game. They might appear as virtual lands, weapons, goods, skins, or characters.
So basically In-game NFTs are items of value that players win or collect while playing the game that could be traded or exchanged on the marketplace for crypto or cash.
These items are all stored on the blockchain. They have individual values and can be used outside of the game.
In-game NFTs are owned by the players, in contrast to traditional games where in-game objects are stored on walled-off data networks and are the property of the corporations that developed the game.
The in-game NFT can also be freely sold outside of the platform where it was produced. This implies that NFTs used to represent in-game goods can be bought and sold on any NFT marketplace for fiat money. These NFTs have real-world value since they are scarce.
No matter who they are or where they are in the world, gamers can transfer value and receive payment for playing since blockchain technology allows users to transact from everywhere.
Difference between in-game NFTs and traditional game
The biggest difference is that because the assets are stored on a blockchain, players own the assets that they earn. What this means for players is that the ownership of these items is proven and confirmed by the blockchain that even if the game shuts down, the item would still exist on the blockchain and these items could also be transferred from one game to another on the blockchain system.
With regular games, there’s no incentive to play other than pure enjoyment. The relationship is one-way: you pay for the game, and unless you’re a professional esports player or a streamer with a big following, you will never be able to monetize your playtime. By contrast, blockchain gaming offers players the opportunity to earn real money
How can you get in-game NFTs?
While people have been earning money from playing video games for many years through practices such as “gold farming” and unofficial marketplaces for in-game items, the emergence of blockchain technology and NFTs has, quite literally, changed the game.
When you first begin playing blockchain games, it is essential that you comprehend how you would get in-game NFTs and how long it will take you to receive these items for gameplay. Some of these games demand a larger commitment to reap the benefits, while some others only require simple tasks to earn NFTs.
In-game NFTs can be earned by;
- conquering levels.
- participating in contests.
- devoting time to the game.
You can earn NFTs by following these steps on blockchain games which include Play to earn games and Pay to earn games
How to earn in-game NFTs through play-to-earn games
Play-to-earn games are blockchain-based games that allow players to earn rewards like NFTsor Cryptocurrencies.
The main idea of the play-to-earn business is the creation, acquisition, and sale of in-game assets as NFTs. Play-to-earn games allow users to trade, buy, and sell NFT items on online gaming marketplaces.
Play to earn games rewards players with in-game crypto assets that can be used to buy more in-game content or exchanged for fiat and other digital currencies. Players could also create unique in-game NFT items that would be made available for sale to other players on a marketplace.
By performing tasks, engaging in player battles, or advancing through different game levels, they can receive prizes in the form of in-game NFTs such as virtual land, avatars, weapons, and other non-fungible tokens, or NFTs.
The more players participate in the games, the more resources they can gather and the more valuable they become.
How to earn in-game NFTs through pay-to-earn games
Play-to-earn games and pay-to-earn games aren’t that different from one another; in fact, some people classify pay-to-earn games as a subset of play-to-earn games.
Blockchain technology is used in pay-to-earn games, which also lets players make money while having fun.
However, Pay-to-earn games differ from “play-to-earn” games in one significant way.
Playing pay-to-earn games requires players to make an initial investment before they can begin.
To be more exact, they must pay for an in-game item in advance. Players won’t be able to participate in the game or make any money until they have completed this.
These games are also referred to as pay-to-play-to-earn games because of this. Playing and earning in pay-to-earn games are both impossible without first making a payment.
Once they have made the necessary investment, gamers can continue to play the game and earn some money.
A good illustration of pay-to-earn games is the first blockchain video game called CryptoKitties.
The initial step in playing this game was for participants to purchase Ethereum coins. They can use it to buy the virtual pets that make up the game’s characters. These pets are NFTs, and players can purchase them from one another in online auctions. Players can breed their pets with others in the game to increase their value.
One of the most played pay-to-win games available is Axie Infinity. The NFTs in the game are referred to as Axies, and they constantly change in value.
Blockchain gaming is seen as the future of the gaming industry and It’s not difficult to see why many people think it will play a major role in the future of the e-game sector.
Players add value to the creators and other players in the ecosystem by participating in the in-game economy. In return, users are rewarded with valuable in-game assets. These resources could be anything, from scarce NFTs items to even cryptocurrencies.
Once you come to understand how blockchain games work, you can begin your search for the one that suits you the most.
Players frequently need to finish a variety of activities in blockchain games to be eligible for in-game NFTs.
Most blockchain games reward you for playing more levels and they also provide more valuable rewards as you advance.
You can trade your in-game NFT collectibles and items on an NFT exchange. You can also make use of any decentralized exchange as long as your NFT is compatible with it.