Crypto

NFT Gamification Replaces Traditional Gaming Industry

A growing number of gamers and crypto investors are putting their money into non-traditional gaming.

In NFT gamification, players are able to combine traditional gaming elements such as competitions, point scoring, and rules with blockchain technology. This is the key that led to GameFi, where users trade assets for financial rewards. This technology actually works relatively simply. Assets used within the world of the game are programmed as NFTs, which have value among players and collectors, and can also be sold.

Users of the upcoming “My Neighbor Alice” game will be able to create their own virtual lands, interact with their neighbors and earn rewards. There will be many in-game assets and rewards available as NFTS, the rarity of these assets will vary.

Here are the top ways NFT games have disrupted traditional games:

  • Play-to-Earn games as source of income:

Gaming has traditionally been a Play-to-Win affair, where players purchase items and upgrades for a game that help them, but at no real financial reward. Instead, Play-to-Earn treats players like incomes, rewarding them for their game participation.

  • Increasing popularity of Play-to-Earn guilds:

Due to the popularity of decentralized games, Play-to-Earn Guilds have sprung up to assist new players. Guild members can “rent” in-game assets instead of paying the sometimes-high cost of purchasing them, decreasing the entrance barrier to NFT games. The lender will then be paid a percentage of the player’s revenue until the player receives the necessary equipment to begin gaming.

  • Asset interoperability in games:

The element of interoperability is one of the most appealing features of NFT games. Traditional console games have their own ecosystems that are incompatible. Players’ assets will always be restricted to that single game, with the developers maintaining complete control.

  • NFT Staking:

Users can save NFTs or cryptocurrencies in smart contracts in some NFT games, which create incentives. Players will, however, require a high initial deposit to gain large staking pay-outs in order to get large staking rewards.

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