What Role Will NFTs Play In The Future?
NFTs are just beginning to revolutionize ownership and trading in digital assets, while also setting the stage for digital communities, in-game trading assets, and a meta verse economy. NFT games are connecting two worlds heavily invested in the accumulation of digital assets, so it is not surprising to see the growth in NFT games. Gaming is one of the key sectors in which NFTs provide players with a service, by providing the ability to own purchased assets within a game. Gaming NFTs give assets value beyond a games ecosystem, transferring ownership back to players.
NFTs build the game ecosystem in which players own 100% immutable property rights to in-game assets that they buy or make. NFTs enable users to build their own game content and sell it in the NFT Marketplace, encoding the rules that are NFT-specific in the actual assets themselves (instead of relying on hidden rules inside of the games centralized app). By having their own NFT digital assets, players are able to sell them, and effectively make money alongside game developers. Where players are involved with a game, contributing value to an ecosystem via their play, and earning NFT digital assets.
Players are able to participate in an in-game economy within a metaverse, and gain incentives for the value that they provide, by drawing upon the NFTs, basically earning as they play. Some games provide players with rewards like tokens and NFTs that they can use or sell. When the time comes for them to leave, players may choose to sell their in-game assets, known as NFTs, that may include skins, buildings, lands, weapons, etc., to other players through secure markets.
A NEW WORLD?
Traditionally, players had to pay money to play their favorite games, but NFTs opened a world in which players could own, trade, and sell digital assets within the games. Where once the game publishers owned and controlled the gaming ecosystem, players now can provide value and earn NFTs by engaging with games.
The "play-to-earn" model is yet another way in which NFTs are changing the dynamics in the game industry. The play-to-earn model for games offers the ability not only for NFTs to promote participation within a metaverse, but it offers an opportunity for players to increase their odds. Making game items unique through utilizing NFTs would cause their value to increase, hence many games with play-to-earn models have grown.
The same concept could apply to using NFTs as in-game avatars, which could be played and leveled across multiple games, becoming stronger and more valuable over time. NFTs could also be used as rewards in applications that gamify positive social and ecological actions. Along with providing property rights over game assets, heroes NFTs are also a productive assets, able to be sent out on missions, in which they will generate game items and crypto assets for the player. Whether an element of P2E (play-to-earn) models, NFTs may provide property rights for users hard-earned gear, as well as UGC (user-generated content) by trading game items such as rare drops or custom accessories, selling avatar skins, collecting royalties from designing levels, buildings, or businesses built within games.