What Are NFT Games?

Mihail Fashchevskiy
Written By Mihail Fashchevskiy
I have been working in the crypto investment field for 4.5 years, primarily knowledge in analysis and editorial work with a love for GameFi.

NFT (or non-fungible token) is a virtual asset that gives you a unique right to own something, it is embedded in the blockchain system, thus protecting against any hacks or fraud.

NFT has become a revolution in Web 3 because it has a very large functionality of use, it can be implemented both in people’s daily lives and in large projects, for example, the search request “NFT” in Google has already surpassed the number of “Defi” queries, which was recently a trend.

“The virtual world will open thousands of new opportunities for this new generation” ― Anuj Jasani

What are NFT play-to-earn games?

Imagine for a second that the whole work routine in offices gone to the past, people become less dependent on finances and at the same time more free and creative, everyone can play the game and earn money equivalent to the average salary in the European market – this is NFT games

NFT games are a breakthrough in the field of Web 3, which were once cryptocurrencies, NFT collections. In the last year alone, three NFT games with a capitalization of more than 1 billion each appeared on the market. NFT games are built on the blockchain, which makes them decentralized and autonomous, which allows them to give their users complete freedom of action.

What is the role of the NFT in play-to-earn games?

If the NFT of the game is a machine, then the NFT in it is every detail down to the nuts. NFT can act as a subscription, an ore, a character leveling point, a planet, a building, a decor, your character, a document, a right to vote, and so on.

How do NFT games work?

The user registers on the platform, this happens by connecting his wallet or buying a subscription in the form of NFT. Then he connects to the game and, depending on the platform, starts earning money by playing. There are three types of earnings in NFT games:

1. Mine and sell. A person extracts a resource and sells it to another player for a certain amount of money. Usually, this is ore, rewards, or some kind of valuable stones.

2. Play longer – earn more. Payment for being in the game, the longer you are in the game, the more the platform pays you. Usually, payment is made in the form of tokens

3. Player vs. Player. Arena battles between players for a certain number of rewards or character upgrades, such as Axie Infinity

Why are NFT games paying me?

When a player plays on a platform, he brings three benefits –

1. Increases the liquidity of in-game assets

2. Pays a commission

3. Increases in online and platform popularity

Let’s look at the example of the Star Atlas launchpad (taken from the official documentation) – the user starts the game, he can extract resources, influence, assets, and items in the form of NFTs, which can then be sold on the marketplace. When a sale transaction occurs –

The seller receives money from the sale

The platform receives money, from a commission

The buyer receives an asset that is valuable to real money.

In-game assets de facto allow you to increase earnings by upgrading a character or transport. Thus, the platform encourages a profitable turnover of in-game assets for all parties, this is called the mutual exchange of funds.

Am I risking anything by playing NFT games?

Absolutely not, they earn the same from what you sell and what you buy, if you want to earn more – you can buy a character upgrade, if you do not want to invest money then you can be guided by what you got in the game.

There is no subscription in such games, sometimes there is a limit on earnings that can be overcome by purchasing certain NFTs, but this is not necessary.

At the same time, there is a certain risk of a fall in the price of NFT, just as well as a rise, this is a feature of the Web 3 market and there is nowhere to run away from it, for example, earning the same amount of NFT from the game, you can receive  $1000 at one time of the year, and $400 from another – for falling prices, but NFT prices are much more stable than cryptocurrencies.

Can my NFTs be taken away from me?

Your NFTs are in the blockchain network, which requires confirmation of several blocks for each operation, even if someone wishes, NFTs cannot be taken away from you, they are tied only to your wallet.

At the same time, we strongly recommend that you do not share data from a blockchain wallet, whether it be ERC-20 or Binance Smart Chain, and also check your computer for viruses promptly, because they can also read information to enter your wallet

Also, check the marketplaces where you buy/sell NFTs, and follow official sources. There are many fake NFT projects on Opensea that have no value.

Popular NFT games

Screenshot from website

Axie Infinity

A popular NFT game in which the user spends his time in a virtual environment inhabited by Axie Infinity creatures. The game is the leader in NFT games and had 2.5 million daily users at the peak of its popularity. The player interacts with creatures, he can tame/crossbreed/pump/exchange them thereby participating in battles both with other players and with the computer.

The platform is play-to-earn, you can earn tokens in the game, as well as sell your pets. The more valuable the breed and the more pumped the pet, the more expensive it is (some reach over a thousand dollars at a price)

Website: https://axieinfinity.com

Screenshot from website

Star Atlas

A large space-themed strategy video game with a built-in NFT play-to-earn concept. This is a revolutionary game that millions of players are waiting for, one of its main differences from all the others is that it uses the latest Unreal Engine 5 graphics engine, giving the game ultra-realism.

In the game, you can extract resources / conquer lands / develop planets and thereby earn real money. The game is scheduled to launch in 2022.

Website: https://staratlas.com

Guild of Guardians

A mobile RPG game with a Play-to-Earn concept, it hasn’t been released yet but is already very popular. Its main feature is that it allows you to earn money on your phone by playing games. In the game, you create a team of heroes and go through dungeons, thereby receiving rewards that can be spent either on leveling up your character or put up for sale. The game is being developed by a large mobile developer, and large firms are among the investors. Launch planned for 2022

Website: https://www.guildofguardians.com

Conclusion

The NFT games industry has reached the multi-billion dollar mark this year, now everyone is talking about projects that will be launched, a large number of investors, and large developers, why?

Because NFT games are opportunities, opportunities with the potential to take over the gaming industry. Imagine that all the top games use NFT, imagine that people leave their jobs to play NFT games – this is all a reality.

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