Remember times playing games with friends outside our apartments after a long day at school? We used to live for that one moment, didn’t we? Perhaps that was the only form of the game we experienced in our childhood. But, as time went on and we slowly and gradually caught sight of revolution gaining momentum we could not only play outdoor games but also indoors on our mobile devices and computers. While we were thrilled and full of heart at these leaps forward, we did not realize that it was just a half part of what the tech giants had in store for us in the future.
The gaming evolution, however, is occurring at a breakneck speed. As our enthusiasm and hard work help us understand and adapt to a new innovation, there is always something else that is off the charts and beyond our expectations. Hence, if you believe you are the only one struggling to walk hand-in-hand with this fast-growing advancement, trust us you are not!
Despite the fact that it appears to be an impossible endeavor, any which way, we can be each other’s counterparts and aid our consciousness in becoming aware of events happening around us and have a better understanding of them. As we embark on this never-ending journey of development together. Therefore, we decided to write this blog.
If you recently have read any headline on any medium, you must have at least encountered the term NFT so fluently. NFTs, commonly known as Non-Fungible Tokens are cryptographically unique tokens that have revolutionized the way we perceive digital assets. With their infinite possibilities, NFTs also got wide acceptance in the world of Blockchain games — wondering why? Scroll down! We have got all your answers.
NON-FUNGIBLE TOKENS — NEW TECH MANIA
Before we head into our main topic, let’s just have a quick overview of these new digital assets. NFTs can literally be anything — you can think of a dialogue from any Bollywood blockbuster or an autograph of eminent personality and whatever that comes into your curious mind can be bought or sold in the form of digital tokens, sounds interesting, doesn’t it?
Basically, these digital artworks are cryptographic tokens with a distinct identity promising proof of ownership. NFTs, however, are stockpiled on Blockchain which makes each token unique and immutable offering true value to art and its creators. You may find this modern-day collectible akin to cryptocurrencies but they are one-up over them as they cannot be replaced or copied. Hence, it’s not surprising why Non-Fungible Tokens have become ghostly important in the crypto world today.
Have an idea of NFT now? Let’s understand its role in changing the gaming industry forever.
THE ROLE OF NFTS IN THE NEXT-GEN GAMES
Capturing the curiosity of a homebound world and breaking into the mainstream, the use cases of NFTs have extended far beyond proving ownership of digital items. Can you guess which one sector is predicted to be most affected by NFTs? Let us give you a hint. It’s the industry we have been talking about in the very first paragraph of this blog. Yes, that’s right. Gaming industry is the answer.
Games especially based on Blockchain technology have started capitalizing on the potential of NFTs by incorporating them into core offerings. If we recall the traditional gaming format, it was mostly based on play-to-win and pay-to-play models which offered no real-economic return. The modern gaming format includes monetizing.
The monetization of the game allows the industry to have its own economy. This is achieved by trading NFTs, earning in-game rewards, and further allowing its sell and purchase.
BOTTOM LINE
Giving rest to our thoughts, NFTs, anyway, are strongly building their presence and are currently finding their most robust application in the field of gaming. Moreover, the Gaming community being so big and eccentric, this early adoption of crypto and NFTs is definitely going to build the dynamic economy and prove to be the trojan horse for real-world adoption.
Well, what if we tell you there is already something similar on which we have been working on. Yes, you heard it right!
We at Metaspace have built a Metaverse that consists of a bunch of virtual worlds wherein you can perform all human-like activities with your digital avatar. Sounds good, right? Those activities that have been mentioned include an AAA game, virtual concerts and much more. The AAA game that we are talking about is a blockchain-powered metaverse game centered on an infinity space lifestyle wherein players would be able to play, fight, challenge and trade in-metaverse assets — this is going to be an extraordinary experience as it will allow players to not only fight for their survival but also stand a chance to earn while doing what they like to do.
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