The success of games like CryptoKitties has put developers and designers on a mission to create the next big digital collectible. The blockchain-powered game market is thriving because it offers real economic value beyond just fun gameplay
The “nft tokens” are a type of digital currency that is used in the game development industry. They are typically used as a way to buy and sell items, but they can also be traded on exchanges. NFT is becoming more popular because it’s easy to develop games with them. Read more in detail here: where to buy nft tokens.
P2E (Play-to-Earn) is a new term for video games that allow users to earn cryptocurrencies and NFTs by playing them. The notion of play-to-earn has gained a lot of popularity in recent months.
In and of itself, gaming is a big global market. There are around 2.7 billion gamers worldwide. Simultaneously, experts expect that the industry’s value will surpass $300 billion in the next years. You may take advantage of this industry’s tremendous growth by contacting Fondlygames – nft game development services. However, the industry is beset by two primary problems:
- Players do not own their purchases in the purest sense. In-game things (equipment, armament, and so on) enhance a player’s performance and enjoyment of the game, but they serve no other purpose. As a result, they’re considered entertainment expenses rather than investments.
- There aren’t many possibilities for business models. Free-to-play games provide 80% of all digital gaming revenue. This limits the kind of gaming strategies that may be used by designers, as well as the industry’s general development. When new business mechanisms for game makers develop, new forms of gaming will emerge (such as NFT resale commissions).
The new Play-to-Earn concept has the potential to change the present gaming landscape. This trend has ushered in the rapid production of a variety of blockchains. There are already over 200 games, and they contribute for up to 45 percent of all decentralized application traffic. As a result, the trend has been categorized as a separate GameFi category (Game Finance).
The concept is simple: players may win real money or other rewards just by playing the game!
The easiest way to understand this is to use the example of Axie Infinity. Axie Infinity is an Ethereum-based fantasy character blockchain game akin to CryptoKitties. As part of the game’s gameplay, players must nurture, breed, and combat their Axie characters. Players may earn money by raising animals or winning fights at the same time.
Furthermore, each Axi is a one-of-a-kind token that cannot be traded (NFT). As a consequence, each Axi has distinct characteristics that distinguish it from other species. Crossing an axis is feasible. As a consequence, new animals have been introduced to the game. Some of them have unique characteristics that allow them to be commercially sold.
It’s important to know that you’ll need money to purchase Axi on the Axie Infinity marketplace in order to begin the game. Adult animals and animals at different phases of development are sold (in the egg). They will grow up to become full-fledged Axi. It takes 5 days for a human to emerge from the egg stage. Then, Pets (NFT) may be exchanged for Ethereum.
The objective of the game is to assemble Aksi’s most powerful and unique army. This may be accomplished by joining a group with other players. The army may either engage in combat with other players or go on an adventure throughout the game realm (Lunation).
The project includes two cryptocurrencies. The first is Small Love Potions (SLP). SLP may be used to create and improve pets. SLP is a digital asset that can be bought and sold on a cryptocurrency exchange. It’s worth mentioning that under the earn-to-play model, the value of a currency is defined by the number of people who need it.
Axie Infinity’s native token, AXS, is the project’s second currency. Its holders may earn passive revenue by offering liquidity to decentralized exchanges. It might also be utilized to help with the project’s development (governance). In the future, AXS might be used for staking.
As a result, earning money with these and other Play-to-Earn gaming features has become very popular. Providing gamers with the opportunity to earn more than the monthly minimum wage, particularly in developing countries.
The blockchain allows you to create new Play-to-Earn game ideas on a regular basis. There are thousands of “Axie Fellows” as a consequence of programs like Yield Guild Games and others, where Axie holders lend their NFTs to other players to use and earn. In this case, the profit is shared between the two parties.
Several P2E games, including CryptoBlades, Gods Unchained, Star Atlas, Zed Run, and others, have developed in popularity in recent months alongside Axie Infinity. Blockchain developers are actively working on these games, which are mostly used by bitcoin users.
We feel that the money-playing revolution is just too promising for established game developers to ignore, particularly following the massive success of Axie Infinity. Large gaming studios and efforts, we anticipate, will begin to incorporate these ideas into their games, or will develop separate blockchain studios and initiatives.
Visit the Fondly Games website for more details!
Continue reading: Unable to Update New World on Steam: Get Help Now!
Related Tags
- what are nft tokens
- nfts art
- what is nft art
