These are people who are true believers in NFTs, blockchain, and play-to-earn, and I know that many of them have been immersed in these ideas for many years. They’re not fly-by-night people. NFTs use the transparent and secure digital ledger of blockchain to authenticate unique digital items. By enabling game developers to find a new source of revenue — auctioning off rare items for high values and reselling them as well — they hope to bring a new business model to gaming that is as revolutionary as free-to-play was for Facebook games, massively multiplayer online games, mobile games, and eventually all games.
Anything with collectibles — art, trading cards, card games, and just about any video games — can use NFT technology to create items that are scarce instead of digital items that can be ripped off with abandon. An NFT is no different from money. If you believe in it, then it’s real. And it’s something that gamers themselves can profit from. At the party I attended, everybody believed.
The Benefits Of NFTs
They also believe — perhaps in ways that are more easily challenged by skeptics — that NFTs will usher in the metaverse, another buzzword the skeptics don’t like that signifies the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. Since NFTs can establish true ownership, players are no longer serfs on the lands owned by the lord of the manor — the game publishers. They can take their NFT items from games and one day use them in interoperable games in the metaverse. If a game shuts down, that’s no big deal as players will be able to take their avatars and other NFT items to another world. Their investment won’t be wasted.
That’s a lofty ambition that could prove extremely difficult given the delicate balances of game economies. It’s more easily done with games that have been designed by one company to work together, like the worlds inside Manticore’s Core — a collection of games where it’s easy to take your avatar from one world to another.
But NFTs have already changed the world with simpler benefits — the simple ability for players to view the time that they put into a game as an investment and the opportunity to get paid for that investment.
Play To Earn
Axie Infinity now, you can make money by first leveling up your cute NFT characters (Axies) and making them more valuable. Each one is unique. You can fight with other players and win. You can also think of them as collectible pets and keep going back for more. Sky Mavis, based in Vietnam, was started by a team of missionaries with a view that NFT games could build transformative economic power for communities, particularly in developing countries where jobs are in short supply. It could even be a model for more developed nations as the coming of AI will likely wipe out a lot of jobs, Sky Mavis‘ Jeff Zirlin said.
You can sell them for a profit, and all of a sudden the time you invested in that game will pay off. You can make money from the game, and that’s exactly what happened with players in Yield Guild Games, which is guild of players gathered on Discord. This guild not only makes it easy for players to join NFT games. It also teaches them how to invest in titles where playing is an investment, like buying virtual land.
Source >> https://venturebeat.com/2021/10/22/the-deanbeat-among-the-believers-of-the-nft-gaming-revolution/
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