The History And Key Concepts of NFT Games

The History and Key Concepts of NFT Games

Non-fungible tokens are any digital data, like GIFs, songs, and the like, that is unique and therefore cannot be exchanged or interchanged with anything. These digital data are stored in a ledger called blockchain. They allow users to have ownership and control over those data.

The concept of NFT games and play-to-earn gaming was rather esoteric for a long time. But very recently, the industry boomed and created a massive wildfire among everyone, from people who have never played video games before to expert gamers. It has opened doors and transformed the gaming industry, but what is exactly the history of NFT games in the first place?

Actually, NFT games goes a long way back, back when cryptocurrency was just starting to develop. They started on Bitcoin blockchains in 2012, but now, most NFTs run on Ethereum blockchains. At the time, NFTs were not yet NFTs but “colored coins.” They are basically tokens that represent real-world assets that can be used to earn ownership of digital assets.

After colored coins came other platforms, such as Counterparty and Mastercoins, CryptoPunks, and CryptoKitties. Now, users are harnessing the benefits of Decentralized Finance or DeFi mechanisms in NFT games where traditional banks are stripped and therefore, digital wallets can be used for rewards and monetization purposes.

It’s almost insane to think that some digital data, specifically artworks, are sold for millions of dollars. But that’s just the beginning. With the rise of NFT games and as people become more and more aware of the infinite possibilities, we can expect to see the industry rise higher and possibly transform our lives as a whole.

How Play-to-Earn Games Transformed Work Life

You’ve probably heard of it somewhere. Somebody you know talks about playing a video game where they earn at the same time. You’re intrigued, so you check it out. Now, more and more people every day are realizing that they can actually boost their financial life with the help of play-to-earn games, and its concept is making many rethink the whole idea of “work.” The next few paragraphs will explain that deeper.

Before play-to-earn gaming became popular, people viewed work and play on the opposite sides of the pole. Many of us actually have this idea that playing online games is for kids while working for money is what adults do most if not all of their lives. So, when play-to-earn surfaced, more people were cynical than amazed by it. After all, what kind of adult who works 40 hours a week would be happy to know that other people are earning way more than they do for simply staying home and playing video games maybe just a couple of hours a day?

But amid the rise of the Internet and the downfall of employment rates worldwide, people all around the globe are gradually becoming more open-minded about the possibility of tapping into a steady stream of income online. While the idea of working online, such as freelance writing and online teaching, is already established for some people, many folks are still taken aback and remain skeptical about the notion of earning while playing. However, whether you believe that is possible or not will not stop other folks from making money off play-to-earn games every day.

Filipinos are the best example of how play-to-earn gaming is transforming work life. Many folks who ventured into Axie Infinity, the hottest P2E game today, left their full-time jobs. Before you think these people have gone nuts or that they’re lazy, you should know that they actually earn more money from playing this P2E game than they do in their 9-5 labor jobs. Plus, they have time freedom, no boss, and enjoy all the benefits of a bigger “salary.” There is even a chance for an Axie Infinity player to earn more than $10,000 a month.

Work time and play time used to be separated, but the rise of play-to-earn gaming is slowly changing that. It is feeding us the idea that we don’t really need to work 40 hours a day in order to sustain our lifestyles. However, of course, you might still prefer to have a career, but the income you can gain from P2E games can help you do what you love and potentially earn more than you do in your regular job.