NFTs are unique digital items backed by a specific blockchain, making them instantly verifiable and transferable. Each token is assigned a distinct identifier directly linked to one blockchain address.
Some NFTs have become popular enough to establish community spaces around them. Chainers.io is part of the new and exciting metaverse industry, and initiatives like those by the creators of the game are making it more accessible to everyone on any platform and browser, which bodes well for where the internet is evolving too soon. By holding Chainers free NFT, users gain access to its game.
What is an NFT?
NFTs are a subcategory of cryptocurrency that represent ownership of one-of-a-kind digital assets such as digital artwork, video game items, trading cards, virtual real estate, and more. These digital assets are hosted on the blockchain and can be traded for a profit.
Unlike traditional games that require upfront costs, P2P NFT-based games allow gamers to earn money through in-game activities. For example, the Dogami game allows players to nurture virtual puppies from birth through adulthood, gaining in-game currency called DOGAMI. Players can then sell these DOGAMI tokens for cash.
In addition, many NFTs are programmed with royalty payouts that give their creators passive income whenever the token is resold. Such a strategy has seen artists like Nyan Cat and Grimes issue NFTs that can be sold for millions of dollars. The NFT-based Star Trek game MAD Metascientists also offers its players the chance to acquire and trade collectible MAD Nanocells and MAD Metafuel. These can then be used to battle rival cells and gain rewards.
What is the Purpose of an NFT?
NFT games range from replicating familiar gaming experiences with additional benefits to creating a metaverse experience for gamers and creators. One of the first NFT games to take off was Axie Infinity, which gave gamers a monster-breeding RPG that they could sell and trade on a secondary market or in-game.
Another NFT game with a similar gameplay to a traditional video game is Battle Racers, where players collect and upgrade different weapons and parts in order to beat opponents on arcade-sized tracks. The NFTs associated with these cars are registered on the blockchain, making them tradable for crypto.
NFT games with play-to-earn mechanics are more popular than ever before. For example, Spider Tanks is an NFT game that boasts top-quality graphics and frantic gameplay. Another NFT game that offers pay-to-play is Gods Unchained, which allows players to build their own Wizards and participate in PvP matches. It also has a training system that enables players to earn GP tokens and rewards.
Are NFTs Cryptocurrency?
NFTs are digital assets that are held in a blockchain-based marketplace. These assets can be traded on this open market, similar to how people might buy and sell Monet prints in a real-world art gallery. These marketplaces offer new paths to monetization for game developers, which can replace the standard model of in-game microtransactions.
Several NFT games are leveraging these blockchain platforms and open economies to create unique experiences that are fun, innovative, and potentially lucrative. These include Star Atlus, a space exploration game with an emphasis on mining and trading that promises to provide a gaming experience akin to classic sci-fi titles like Elite or No Man’s Sky.
Another popular NFT game is Dogami, which lets players adopt virtual pets called Dogami that they can train and battle to increase their value in the game. This gamification of ownership also helps give players a reason to hold their NFTs as a form of investment, just as they might own physical artwork.
How Do NFTs Work in Online Gaming Platforms?
NFT games combine in-game rewards with a measurable value outside of the gaming ecosystem. This gives gamers ownership of in-game rewards and a way to make money by selling them on the secondary market. The industry has dubbed these types of games ‘play-to-earn’.
Large game companies see NFTs as a new way to generate ongoing revenue streams from their games. This is the reason why many of them are exploring blockchain gaming.
While NFTs in video games can have real monetary value, they also come with some drawbacks. For example, NFTs in video games aren’t easily transferable between different games. Moving a character from one game to another would require changes to the animations, hitboxes and art style. Even this approach can fail when a company isn’t willing to invest the time. For example, Team17’s NFT art collectibles for their Worms series drew so much vitriol from fans that they quickly canceled the project. This is the same fate that has befallen several other NFT projects by the studio.