Blockchain gaming is a revolutionary form of gaming that allows players to earn real money by trading gaming items online. This innovative approach incorporates decentralization and utilizes in-game Non-fungible tokens (NFTs) to provide players with equal opportunities regardless of their monetary investments.
So, what exactly is blockchain gaming? It’s a gaming experience that goes beyond traditional gameplay by allowing players to actually own the gaming items they acquire. This means that players can trade these items online and even earn real money from their transactions. In addition, blockchain gaming utilizes cryptocurrency technology, enabling players to exchange their in-game items for crypto coins. Thanks to the emergence of GameFi, gamers now have the opportunity to earn money from the online games they love. With the average price of blockchain games currently sitting at $47.73, it’s no wonder that this phenomenon has become so popular. Once a gamer trades their items online, they can easily convert their earnings into their preferred currency for seamless exchanges and transactions.
NFTs play a crucial role in blockchain gaming. Non-fungible tokens are digital assets that grant ownership and copyright to a specific individual. These tokens are unique and cannot be replaced by anything else. In the realm of blockchain gaming, NFTs are incorporated into the gameplay experience. Each game offers its own collection of NFTs, which can range from various collectibles. For example, in an online battle arena game, players can acquire NFTs that allow them to personalize their avatars with visually stunning enhancements such as outfits, weapons, and skills. If a gamer obtains a specific avatar or item through gameplay, they have the option to sell it to other players. This creates a sense of interoperability, fostering a dynamic and vibrant gaming community.
One popular blockchain game, Cryptokitties, allows players to breed and trade unique kittens with different appearances and functionalities. Each kitten is an NFT that belongs solely to the gamer who bred it. The average price of a kitten is $65.76, but some rare and customized kittens have been sold for as much as $300,000. The value of these NFTs depends on their rarity and customization, making them highly sought after by collectors and enthusiasts.
Unlike traditional online games, blockchain games ensure that players’ digital assets cannot be deleted or confiscated by the game’s creators or even by other players. Players have complete control over their assets and NFTs, allowing them to keep them for as long as they desire and transfer them between different games. Furthermore, players can also transfer their public profiles from one game to another, making it easier to maintain their online presence and gaming achievements.
The impact of NFTs on blockchain gaming has been significant. With a market cap of NFTs currently amounting to $80,267,164, there has been a surge in activities within blockchain games. This influx of gamers has led to an increased availability of collectibles, consumables, and other trading items within the gaming platforms. Many gamers have successfully monetized their gaming hobbies, earning substantial income from the sale of their in-game items.
NFTs in blockchain gaming have also leveled the playing field, ensuring that players are not disadvantaged based on the amount of money they invest in the game. It’s a common experience for players to feel overshadowed by others who have spent more money on in-game purchases, but NFTs provide equal opportunities for all players to enjoy the game and reap the rewards.
Gamers can access NFTs on platforms such as Binance Smart Chain and Ethereum blockchain. Additionally, there are NFT Mystery Boxes available for players to try their luck and potentially earn exciting rewards.
While blockchain games are generally safe and secure, gamers should remain cautious of scammers. There is a risk of NFTs being swindled through hacking or by using compatible wallets. Additionally, players should carefully review the terms and conditions of smart contracts, as they are self-executing and can potentially lead to financial losses if not thoroughly understood.
NFTs have not only made a significant impact on blockchain gaming but have also revolutionized the gaming industry as a whole. Traders are now becoming gamers, and vice versa, creating a symbiotic relationship between the two worlds. The introduction of NFTs has expanded the gaming sector, attracting more players and giving them even more reasons to indulge in the joy of gaming.
