What NFTs and gaming have in common

If there is one thing that seems to be gaining a lot of attention in the media at the moment, it is NFTs. An NFT is a non-fungible token with a unique serial number and cannot be subdivided.

How does an NFT have value? Two NFTs will still be unique even if they tokenize the same thing. Unlike Bitcoin and other cryptocurrencies, you cannot replace one NFT for another and it simply be the same, or have the same value.

We are seeing NFTs make a big impact on many different industries, and one, in particular, is the world of gaming. Continue reading to discover everything you need to know.

Making in-game items into NFTs

Some cryptocurrency enthusiasts believe that the future of in-game economies involves turning in-game items, such as character skins or guns, into NFTs. They feel that NFTs will generate true ownership, creating the ability to resell in-game items that a person no longer wants.

We have also seen some people claim that NFT items, including characters, could be transferred from one game to another.

Of course, nothing is guaranteed, though. Just because an NFT is yours for as long as you decide to keep it, does not mean it is going to retain its in-game value. There is always a risk. However, it is certainly exciting to see where the future lies in this regard.

Becoming a unique character

Both NFTs and games play on the fact that we love the opportunity to tap into another world and become someone else. More and more games give people the ability to create and amend their in-game characters.

This is something that NFT games embrace. However, they go one step further than this, as you can own your character as well. This means that no one else is going to be able to have the same character as you.

The head of research at Bequant, a prime brokerage and digital asset exchange platform, Martha Reyes, has spoken about this:

“NFT purchases allow the player to purchase their own character which is either unique to them or readily available to the wider ecosystem.

“This gives players the ability to play as whoever they want, rather than being dictated by the developers, giving them more freedom in the gaming worlds.”

Training to add value

Gamers go on a journey whenever they play a game. Their character does not start out perfect. Progression and development are needed. The same can be said for NFT games as well, ensuring that everyone can still get involved. Otherwise, powerful characters would only be for those with lots of money to spend.

This is something that Reyes has also explained in full:

“In games such as Blockchain Cuties, players can train and upgrade their existing characters, making them more powerful in the game and valuable on the marketplace.

“This means that the training process can actually add value to the player’s NFT, making them more money when they sell it on.

“This also means that the richest players can’t just buy their way to success and less experienced players can earn their way up the gaming ladder.”

The exciting world of NFTs and gaming

So there you have it: an insight into how the worlds of NFTs and gaming are colliding effectively. This is an area that is only going to get more and more fascinating, with great opportunities for gamers to develop NFT characters, which they own and can make better as well.