Look around you. Does the world look strange? Yes? Well, that’s digitalization. People are hanging out in the Metaverse, and all of this is possible thanks to the power of Blockchain technology. Yes, I know that you’ve heard a lot about how this technology is going to revolutionize the world, but still, nothing major has happened, at least not in the gaming world.
We still play regular games, where we purchase skins (for no reason) and we don’t actually own them. So, where are they? Well, they are safely stored on the developer’s database, and they are the ones deciding what to do with them.
But I think the video gaming industry is on a bridge, a bridge that will take the entire industry in a different direction. A place that all gamers would love. Why? Because we finally have a chance to get a piece of the cake and actually own our in-game items.
Did you guess it already? We are talking about digital collectibles on the blockchain, or NFTs. Okay, I know NFTs might be a sensitive subject to some since we went through an NFT craze where pictures of monkeys reached millions of dollars and are now practically worthless.
What’s The Deal With NFTs In the Video Gaming Space?
If you’ve been living under a rock, and for some reason still don’t know what are non-fungible tokens, these are digital assets that can represent any digital item. When it comes to games, we are talking about in-game items, characters, virtual land, cosmetics, rare items weapons, and everything in between.
But unlike traditional games, you’ll actually own these digital items. They can be taken to your wallet and even sold on a third-party marketplace. You decide what to do with them.
NFTs will bring a whole new meaning to digital ownership, and that will revolutionize how we see, play, and experience games, for sure!
But what’s the big deal? Well, until now, all the items you’ve purchased are not really yours. They are pieces of code that are stored in the developer’s database. Yes, your hard-earned loot, the one that you’ve spent countless hours on is still in the hands of the developers.
Well, that’s about to change, which is good news if you are a gamer!
How Do NFTs Add Value Gaming?
NFTs are so game-changing that I start to wonder why game developers don’t push this technology that hard. Apart from giving us a piece of the cake and allowing gamers to really own their digital collectibles, these types of games also give gamers a chance to earn real-world money.
Basically, you play, collect in-game items or coins, and sell them for FIAT. Is there something better than this?
For example, there are already many crypto casinos, which are essentially operating on the Blockchain. But what if we infuse the gameplay with NFTs? Imagine earning a rare digital collectible that is worth a lot of real-world money. That would be awesome, right?
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So, instead of just burning hours playing, you could actually be making money.
Also, the Blockchain gaming space isn’t empty like a desert. There are games like Axie Infinity that are already making some big moves. Players can breed creatures, battle, and earn money at the same time. Plus, these games are not only centered on the play-to-earn factor. They are also fun to play!
Some hard-core players reported that they are earning up to $5,00 a month playing Axie Infinity, which is one of the biggest blockchain games but still far below triple-A titles. So, can you imagine a game like GTA VI and its impact on the gaming industry if it is infused with blockchain technology?
The Metaverse and GameFi
So, you have games, digital collectibles, and a way to earn money. Not enough? How about the Metaverse?
We are talking about a virtual shared space between games. Still confused? Well, let’s say that you are playing GTA San Andreas, and you exit the GTA world with CJ and enter Call Of Duty Modern Warfare.
Okay, I know it may sound ridiculous, but that’s what the Metaverse is. Basically, digital world, where games can interact with each other, share in-game items, and travel worlds.
I don’t think that there will be anything more revolutionary than this if it really becomes reality.
With this metaverse boom, we’re also seeing the rise of GameFi—the fusion of gaming and decentralized finance (DeFi). This model is already attracting players and developers, fueling engagement and expanding opportunities. Companies like Microsoft and Facebook (now Meta) are making significant strides into the metaverse, hinting that this trend is here to stay.
The Big Question: Should You Dive In?
Of course! Why not? This is a revolutionary technology that will change the gaming space forever.
Yes, the NFT world has been through some ups and downs, but we still cannot deny its potential to impact the world of video games. I think that there is a strong future for this technology in the gaming space.
