Exploring NFTs as a Gateway to P2E Games

INTRODUCTION

The Crypto-currency industry has experienced enormous growth. This includes new coins surging daily and a high adoption rate of NFTs. The massive interest in the decentralized system and more, have proved the crypto-currency industry is beyond a fad. The high adoption of NFTs has taken a leap into the gaming industry. A few of the rising games are Axie Infinity, The Sandbox, Splinterland, Gods unchained, and more. And some of the upcoming games in 2022 are Guild of guardians, Big time, Illuvium, and more.

PLAYING AS INVESTING IN NFT P2E GAMES

The conventional P2E’s designs are to earn digital unreal instruments in the game. These are not transferrable and couldn’t be converted to original currency. A way to earn real cash through these will be earning a few dollars through betting. NFT P2E games are overturning the gaming model. This is by adding valuable collectibles to the games through NFTs. Every NFT game takes its model from the game developer. NFTs could be earned through skill in the game or they could be purchased in the game’s inventory or by other means as designed by the developer. It is reported that P2E games have become highly adopted by players in developing countries. And it has an average of $200–1000 earnings per month

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HOW NFT GAMING WORKS

NFT play-to-earn games work with combined attributes of gaming and blockchain. The collectibles are finite, increasing their values. This adds to their proven ownership; the clear fact that NFTs are unique even when they are similar. It also encompasses the uneditable NFT qualities to standardize it. The proven ownership works beyond the game. It is transferrable on other networks depending on the collectible. It could also be liquidized on exchange platforms or crypto markets and used like real dollars.

NFTs AS RENTALS IN GAMES

Marco Quiroz-Gutierres of fortune magazine wrote on January 22, 2022;

“Play-to-earn gaming is the newest craze in the crypto world, but unless you have thousands of dollars, you probably won’t be able to participate. Enter a concept called scholarships — a way for players to rent the non-fungible tokens used in games as tools, creatures, or skins. These NFTs, for short, are often required for playing or they give players an advantage. In exchange for renting the NFTs, players pay the lenders a cut of whatever cryptocurrency they earn while battling, farming, or racing online. Essentially, NFTs are already maturing to the point where they have de facto landlords”

CONCLUSION

It is unanimous that this is yet another new dimension of the P2E gaming world. exploring NFTs is giving wider opportunities to P2E games. It is creating niches for everyone that cares enough, so much more to becoming NFT Landlords. NFT gaming is here to stay and always gets better while at it. Hopping on it at this stage would be a great decision. Utilizing them as collectibles in games makes the game more thrilling. Since it will be realized that it’s a simultaneous mix of investment and fun.

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Rofeeah Ayinla

Rofeeah Ayinla

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multifaceted Content Writer | Web3 | Blockchain | Press releases | SaaS | Business blogs | Health, Beauty and Nature Storyteller.