What is nft gaming
Previously, games were just for fun; now, anybody with an internet connection and a crypto wallet may make money by playing and winning at their favorite online games. This one-of-a-kind style of gaming enables players to earn digital assets in the form of NFTs or bitcoin in exchange for their talents and accomplishments in the game.
This article will go through the many sorts of crypto games and how they function, as well as how you may begin trading bitcoin and exploring this new arena.
What exactly is nft gaming?
NFTs are non-fungible digital tokens that “live” on a blockchain. Because nft gaming cannot be copied and pasted, each object is cryptographically unique, much like a digital counterpart of the Mona Lisa.
Using NFTs in games enables creators to generate one-of-a-kind digital items. This is critical to the operation of NFT games.
NFTs are in-game objects, personalities, and avatars that players need in order to complete a game. The scarcity and significance of various assets in the game determine their worth. These in-game assets may be traded for bitcoin on a marketplace, and all transactions are recorded on the blockchain.
NFT games let users to earn cryptocurrencies while playing and provide new revenue models to game producers.
How do NFT games function?
NFT games are created by game creators using smart contracts that outline the rules for how the NFTs are utilized in-game. If you’re unfamiliar with smart contracts, they are self-executing code containing what/if statements that are placed on blockchains.
Non-fungible tokens may be used in all aspects of a game’s mechanics and interactions. A player avatar, for example, may be an NFT, as can power-up items, weaponry, and so on.
These NFTs may be auctioned out before a game’s release to provide a select individuals early access or sold to generate funds to finance the game’s development. A game creator, for example, may sell game characters in an adventure game as an NFT before to the game’s release. Guild of Guardians collected $5.3 million in their native token GEMS token sale in late 2021, with the game soft opening in Q1 2022.
While NFT games vary each game, most NFT games need you to link your crypto wallet, buy or gather in-game characters, play with your characters, and compete or fight to win.
Furthermore, most NFT games have valuables that may be won, purchased, and sold in order to generate cryptocurrency.
How does the earn-to-play concept work?
With play-to-earn NFT games, gamers may earn money. Players may receive several types of incentives based on how long they play, such as token awards and NFT collectibles.
Because most NFT games use tokens, the tokens acquired are often part of the game’s economy. Players gain tokens as they play more often and NFTs on rare occasions. The tokens may be exchanged for cryptocurrency, while the NFTs can be traded in the game’s marketplace.
Axie Infinity, for example, is one of the most popular play-to-earn games. The game is similar to Pokémon in that you, as the ‘trainer,’ collect various varieties of monsters to fight for you. A new player must acquire three Axies, which will cost roughly $1,500 to get started (a free scholarship is also available).
When you begin accomplishing tasks and challenges, you will earn the Smooth Love Potion (SLP) token, which is transferable on exchanges. The famous blockchain game allows players to earn $1,000+ USD every month.
Is it possible to play free NFT games?
While many NFT games demand an initial payment to begin playing, there are certain NFT games that are completely free to play. That is, you do not need to purchase NFTs to begin playing the game.
Some of the games that provide a free NFT gaming experience are listed below:
Gods Unchained: GU is an Ethereum blockchain-based trading card game. To begin, you are given a set of cards, and you compete to acquire additional cards. To boost your chances of earning additional high-quality digital cards, you must compete against other players. The digital cards may be exchanged for cash.
Coin Hunt World: Coin Hunt World is more unusual in that it needs you to physically roam about your neighborhood. It presents you with a digital map and instructs you to search your city for keys. The keys are then placed in a vault, and you are awarded in BTC and ETH for answering trivia questions.
The SandBox is an Ethereum-based virtual game metaverse where users may build and monetize assets. It offers a reward system that allows players to preserve the ability to share or sell their digital real estate and creations.
Chainmonsters: Like Pokemon, Chainmonsters is a massively multiplayer online role-playing game. The game requires no membership or payment to play, and you may collect free reward tiers to progress through the game.
Axie Infinity: While Axie Infinity needs upfront NFT payments, you can get started for free by contacting other players who have access to Axies and negotiating a contract that allows you to administer the Axies on behalf of the true owner. The platform officially recognizes this practice, which is known as scholarships.
How should I invest in NFT gaming?
You may invest in NFT gaming in two ways: by purchasing a game’s token or by holding in-game NFTs.
Have your own NFT game token: You may buy Axie Infinity (AXS) tokens and profit from the game’s user growth and acceptance. Axie Infinity’s token, AXS, is traded on major exchanges including as Binance and Coinbase. Several additional NFT game tokens may also be traded on prominent cryptocurrency platforms.
Own NFTs in-game: Purchasing in-game NFTs is another option to invest in NFT games. These products are often purchased and sold on NFT markets or in-game marketplaces. You might even take part in in-game NFT airdrops. Crypto gaming platforms, such as Gamestarter and GameFi, provide Initial NFT Offerings (INO) for investors to purchase in-game NFTs.
Is it possible to gain money by playing NFT games?
You certainly can.
With an NFT game like Axie Infinity, players in locations like the Philippines are earning much more than the country’s minimum wage. In general, there are two methods to profit from NFT games.
• Acquiring in-game tokens: Participating in activities and succeeding in an NFT game lets you to gain tokens that you can trade for crypto or fiat cash, much like moving from one level to another in conventional games.
• Obtaining and disposing of non-fungible tokens (NFTs): Players may earn in-game NFTs that can be traded for bitcoin on NFT exchanges. Aside from earning money while playing, you might also benefit by buying and selling these NFTs.
Can I lose money if I play NFT games?
Yes, you can lose money when playing NFT games.
The amount you may lose is determined on the game you’re playing, its structure, and the value of the in-game NFTs and tokens you must buy in order to play the game.
NFTs are now traded speculatively, and their value is generally determined by what individuals believe. If the majority of people believe an NFT is useless or if few individuals are willing to take chances in the crypto market, the NFT price may fall, resulting in a loss of money.
Best NFT games currently available
The NFT gaming business expands in 2022, with the release of new crypto games and announcements of more on the way. Our list of the greatest NFT games available includes some of the most experienced players in the industry.
1. Axie Infinity: The game enables users to gather and breed Axies, which are digital monsters that can be used to combat other players for cryptocurrency. Each Axie is an NFT with unique characteristics and capabilities. To monetize their gaming efforts, players may gain SLP tokens and sell Axies.
2. Sorare: This is a fantasy football collecting cards game in which you may purchase, own, and sell digital player cards from over 100 licensed football clubs. It’s essentially Football Manager with NFTs. Instead of selecting player names from a list, you purchase digital trade cards that “live” on the Ethereum blockchain. When your team wins contests, you get awards in the form of bitcoin and digital collecting cards.
3. Gods Unchained: A free-to-play competitive card game in which players control their in-game stuff. Players must outwit their opponents strategically by constructing decks that can compete. Game participants control their digital things entirely, enabling them to exchange their cards in any manner they see fit.
4. Decentraland: This is considered the first metaverse. In this virtual world, users may purchase parcels of land to build on and monetize. On Decentraland, two tokens are used: MANA and LAND. MANA, which is accessible on cryptocurrency exchanges such as Coinbase and Binance, is required to acquire LAND. MANA may also be used to purchase virtual goods on the Decentraland marketplace.
Guild of Guardians, The Sandbox, and Illuvium are more NFT games that are still in beta or will be published shortly.