Apart from the financial opportunities they bring, NFT games also give us a glance inside the exciting new era of the internet, the Metaverse. But first, in case you’re not familiar with them, let’s see what they are.
What are NFT games?
NFT games are games that are built on crypto blockchains. These games allow you to enter the Metaverse – the digital new age of the internet. NFT games are fairly new to the blockchain world, but they are unique when it comes to crypto platforms. What makes them stand out is that game tokens cannot be swapped. An NFT token is your ownership of digital content. For example, if you own an NFT token for a game, you own a piece of an in-game asset.
NFT games and tokens
NFTs represent your ownership over an asset in your game. Once you have ownership of an in-game asset, you can buy or sell it on the blockchain to earn money from games. Sounds exciting? NFTs are the ultimate way for gamers to profit from doing what they love.
How big is the play-to-earn industry?
The gaming industry grows each year substantially and the NFT Metaverse world is considered to rapidly grow just the same. The gaming industry was worth over $336 billion at the end of 2021.
The difference with play-to-earn games is that they give gamers unique opportunities to earn their real money through collecting NFTs. The market is set to hit a market high of $256.97 billion by 2025. If there is any time in which to invest in NFT or to earn some NFT, the time is now.
How big is the Metaverse?
The Metaverse is a new version of the internet that is expected to take the world by storm. People will be able to enter virtual spaces and earn money they can use in the real world. The metaverse will operate on a blockchain which will make it fair and accessible to all (which is a huge attraction considering the financial limitation that the real world has). People will have unlimited opportunities to earn money, create opportunities for themselves, and socialize.
Metaverses exist beyond the gaming world but as seen above, it is considered one of the largest contributors to the Metaverse. The appeal is that gamers can do so much more in the Metaverse than just create their virtual identities; they can collect and sell virtual real estate and join social communities while earning money for their real-world assets.
How to get your ticket into the Metaverse
All you have to do is play or invest in NFTs and earn rewards through them.
If you want to enter the gaming metaverse but lack the funds, look for play-to-earn gaming guilds. Guilds help to promote fairness and openness which is an essential feature within the Metaverse. They give players the opportunity to borrow land for their Metaverse for a small fee, which allows them into the game.
Once you earn in-game assets, you have the freedom to use them however you want. You can trade them on NFT marketplaces which will make you a profit depending on the market. You can even use them to earn more NFT, buy a digital property, or invest in crypto. The opportunities are endless.
The future of NFTs and the Metaverse
Although it is still early, NFTs are already blowing up the crypto world. The Metaverse allows users to gain financial opportunities they would’ve never received in the real world. People are provided a virtual world to earn, interact and thrive while using their creativity and talent to do so.
By adding NFT games to the metaverse, blockchain gaming is expected to be an integrated part of the new Web3 era. Real-world gaming businesses and gamers are expected to join in or create spaces in the Metaverse. Whether we will see more people interact and game in the metaverse than ever before is yet to be seen, but according to the success of the current metaverse games, this is highly likely to be the new way of gaming and life.
Find out more info on NFT games and the metaverse by following our Metaverse series on the IXFI blog.
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