What Are Future Prospects of NFT in the Gaming Industry?

As the gaming markets are constantly evolving. Game makers are creating more and more real life based experiences to enhance users by adapting new technologies. One such evolving trend is NFT games.

I am sure we all have heard of NFTs (Non fungible token ). The trend took the gaming industry by storm, creating custom skins for the players or collaborating with lifestyle brands to create real life experiences where players can show this NFT’S just like they own a real accessory. Following the trend graphic designer and Character artist started creating and selling their art as people become more and more aware of the blockchain.

Now this trend is creating a new part in the gaming industry. To understand NFs games firstly we need to understand what is NFT and how exactly it works

What are NFT’s ?

NFT’S(Non fungible tokens) are a unique digital asset which can’t be duplicated. In simple terms if you own a painting or piece of artwork there is a slight chance that it can be duplicated or can be stolen. But not with NFT’S because they are based on the concept of cryptocurrency and blockchain technology unlike cryptocurrencies which are divided into small parts. NFT'S can’t be divided into small parts or can’t be split and also it won’t disappear.

When you buy a NFT, you will receive a unique identity certificate. This is why this system works best in the gaming industry as gamers often complain about getting their ID hacked and get looted for their precious collection with a unique certificate to each certificate. There will be less chances of getting hacked or a copy of infringement.

What are trending NFTs games and How do they work ?

1. Axie Infinity : Axie infinity is one such example which has been dominating the NFT gaming industry. The game solely contributed to the 2.08 billion out of the total 2.5 billion NFT gaming industry.

2. Gods Unchained : This game has created quite a buzz in the crypto market at that moment. The game is pretty basic as it is card game

3. Alien Worlds : Another example that is quickly gaining attention is a game called alien world which has now more than 2.5 million users and is still growing.

4. BFK WARZONES : It is simple hero 2d shooter game multiplayer matchmaking with a complex ecosystem made on binance smart chain and coupled to Ethereum powered by its native token $BFK and used as the currency for our NFT Play-To-Earn (P2E) shooter game and our NFT Marketplace.

NFTs games are similar to classic games which we play unlike older games where we used to earn different collectibles items in the games by leveling up their game but those items had no real world value. In NFT games players can play to earn by collecting different collectibles and they can sell their collectibles to other collectors.

This kind of Play2 Earn models can help to scale gaming companies at a much faster pace through attracting players by rewarding them with tokens. Players also feel a sense of pride in playing as they can earn while playing through selling their collectibles. A new form of marketplace is underdevelopment.

As more and more users will be playing NFT games. A blockchain ecosystem will be created where players would get the tokens and after that when they want to sell or buy tokens they would be sold in cryptocurrency. So henceforth when the blockchain ecosystem is created the crypto market importance would also be surged.

Here are examples how NFT games are quickly gaining users

As we are using more and more blockchain technology a lot of negative remarks are being spread henceforth let's talk about the cons of NFT gaming and how it can be resolved.

What are Problems and Solutions associated with the NFT gaming platform ?

Though NFT’S are present for a while now but any technology takes time to build in and out just like that NFT’S more and more sub branches are creating like NFT’S GAMING , NFT ticketing and more such applications are being discovered. Once it has been accepted and a more large users base has been created then the NFT gaming platforms will integrate on mass scale and not just be limited to a small or premium user base.

Currently only NFS games are not very lucrative; they have not been developed like mainstream video games such as Call of Duty, Rockstar games and Witcher games. That is also the reason the users are not able to connect with NFT GAMING PLATFORM.

Although P2E seems an interesting thing, a lot of these games have a catch which demands a starting fee. Also when a user buys an NFT token chances are that the game development company will launch a new token which will be having more features than previous. So the users might not be able to regain from their previous investment.

As the AI/ML gets more and more advanced. There are chances that very soon AI generated tokens will soon be a thing creating a fear in the market regarding the value of NFT Gaming tokens.

Conclusion

NFT GAMES has traveled a long path from being unknown to creating the buzz in the world and till this date it has been rewarding though being in an early stage in this rapidly evolving era. So from that what we can say is as the NTF gaming platform gets more and more integrated and gets a larger user base it will take a major stake in the mainstream gaming industry and the quality of games will significantly improve. However there are many problems such as technical issues and Legal issues.

As the use of AI/ML has been increasing in the technology which has put some questions on the core fundamentals of the NFT Tokens such as originality of token or the concept of artist which has been developed by the artist.

The scalability has always been the issue of the new technology as a lot of hesitancy comes from people’s mindset in accepting technology and the fear of the old technology creating financial crisis when the transition is happening in the organizations. Due to this, governments also take time to approve new forms of technology.