In this video I explain why NFT games are the future of the gaming industry and how it could change everything, making you able to make money while you enjoy your favorite game. Nothing in the video is financial advice. Enjoy!
NFT in the Gaming World
NFTs, or Non-Fungible Tokens have become very popular in the past year. They are implemented in many games where each unit has its own use and value to create a truly unique gaming experience.
The scene was set for Blockchain Games to take off back in October 2017 when CryptoKitties stormed onto the scene. This game became so popular that it even caused Ethereum’s network congestion which almost took down the whole blockchain industry.
For those who don’t know what CryptoKitties is, it is essentially just like any other digital pet simulator but with one key difference – every cat is unique. Gamers can trade and breed cats resulting new and more valuable cats and the whole CryptoKitties market was valued at over $20 million.
The next major game to hit the scene was Etherbots, which followed a very similar business model to CryptoKitties but instead of cats, gamers could purchase robots and upgrade them resulting in more powerful bots. The main difference between this game and CryptoKitties is that you can actually battle your bots! Blockchain technology has opened the door for true ownership of assets because every NFT has its own unique identifier/address on the blockchain meaning there is no double spending so ultimately gamers will spend real money owning these digital assets.
Another game following this trend was Gods Unchained – an Ethereum based card trading game similar to Hearthstone but with better artwork and animations. This game managed to raise $2.4 million from a successful ICO and is now the first NFT game to be recognized by a large company, Coinbase.
You might think that Blockchain Games are just a fad but there has been a recent surge in companies wanting to benefit from the technology. Given that NFT’s have already taken off with mainstream games such as Player Unknown Battlegrounds (PUBG), introducing special items for sale on their marketplace which can be purchased using £15 worth of Battle Points , it is clear that there is a real interest from gamers who want more than just a regular game.
It looks like NFT’s are going to change the whole gaming industry because they offer users true ownership of digital assets and it is only a matter of time before we see Blockchain Games becoming mainstream.