The NFT rush has had all digital creators in a frenzy trying to get a piece of the NFT booty. Artists of all kinds set to work; renowned painters have digitized some of their best work as expensive NFTs, even rapper Snoop Dogg has released his “A Journey with the Dogg” NFT collection.
While the entertainment industry was buzzing with NFTs, the gaming industry was also far from asleep. The gaming industry has long searched for a way to bridge the gap between the virtual world and the real world, and NFTs are the perfect solution. GameFi, is the term chosen to refer to blockchain games characterized by financial incentives, simply coined from Video Games + Decentralized Finance (GameFi). This combination has made dreams come true as your video game expertise can now directly earn your living.
With some NFT games costing up to $1.1 million, like the Mystic Axie, a character on Axie Infinity or the Pale Purple Cat, a character on Cryptokitties which cost $1.3 million, it’s no surprise players are flocking to the space for the chance to win big money, and sources say this is just the beginning.
What exactly is an NFT game?
An NFT game is simply a video game centered around acquiring digital assets to trade or trade for profit. These games apply blockchain mechanism in their main function, as secure ownership and exchange of digital assets is only possible with the use of smart contracts. Sometimes these games work with multiple smart contracts, like Cryptokitties, a pioneering NFT game that helped popularize Ethereum’s ERC721 standard. This game uses 4 main smart contracts, all performing different functions to ensure the scarcity and safety of its assets.
The difference between NFT games and traditional games?
You have just won a sword that kills enemies with a single blow. Can you make money with this sword by trading it on a market? If not, then you are playing a traditional game. This is the main difference between traditional games and NFT – real world financial incentives.
Additionally, NFT games have a decentralized nature, they use blockchain technology to put control of the future of gaming in the hands of players. Players decide on key changes and game updates using governance tokens. The more tokens you have, the higher your voting power. Finally, blockchain games are quite complex as they require some knowledge of crypto and blockchain before diving in. Games running on the Ethereum blockchain would require players to purchase ETH for in-game use, similarly games built on the Binance Smart Chain or Solana blockchain would require players to have BNB or SOL.
How can you win NFT games?
If you are an avid gamer looking for a way to increase your crypto portfolio, NFT games might be a viable option for you. Play-to-Earn crypto games reward players with in-game currency or tokens for putting in long hours into the game. Tokens can be earned in various ways, by completing game quests, winning battles , crafting items to sell, etc. These earned tokens can then be exchanged for major tokens like Bitcoin, BNB, or other tokens.
Best NFT Game Markets
NFT Marketplaces are decentralized applications designed for the purpose of buying and selling digital assets. Deciding on an appropriate market will involve a few considerations such as the blockchain and cryptocurrency that will be used, the fees, and the type of assets being sold.
- Opensea – The most popular NFT market of all, as it allows selling a wide range of digital assets on its platform. Opensea also hosts popular NFT games like CryptoKitties and Cryptopunks.
- Pros – Free listing, beginner friendly platform and offers a wide range of digital assets. Supports Ethereum (ETH/WETH), SOL, USDC and DAI.
- Axie Market – As you might have guessed, this is a marketplace dedicated to video games, Axie Infinity. In this marketplace, users can purchase all video game assets such as Axies, virtual lands, and other crafting items.
- Benefits – A one stop shop for all things Axie. Supports Axie Infinity tokens, Axie Shards.
- Rare – An upcoming NFT marketplace built on the Ethereum blockchain. Rare, just like Opensea, hosts a wide range of digital assets. Its user-friendly platform allows beginners to craft and create NFTs without any special skills. Rarible is home to a few games like MyCryptoHeroes, Wizards & Dragons, and CryptoMans.
- Pros – Easy to use interface, wide variety of digital assets. Supports Rarible governance token, RARI.
Popular NFT Games
- Axie Infinity – One of the first on stage, launched in 2018, Axie infinity is an NFT game from studio Mavis. Its concept is simple; catch mythical creatures (Axies) and train them to fight other players’ Axies. The game has a story mode and a versus mode, both can net you its native Axie Shards token.
- Decentralized – The real estate game NFT launched in 2015. Decentralized is a virtual reality (VR) game running on the Ethereum blockchain. The idea is based on exploring and buying all kinds of properties. Players can own anything from playgrounds to cinemas. Allow other users to explore and possibly purchase their establishments. Its native MANA token also serves as a governance token, helping users vote on its future.
- raging gods – An NFT card game involving immense strategies. Launched in 2021, God’s Unchained is a card game similar to the world of Elder Scrolls. Built on the Ethereum blockchain, its main asset, playing cards are non-fungible tokens. Which can be traded and exchanged for major cryptos like BNB. The platform recently announced that it will issue a governance token, the $GODS token.
Although NFT gaming is relatively new, the GameFi space seems to be rapidly gaining traction. It could be based on its addictive nature – playing video games and winning at the same time? It’s every millennial’s dream. The psychology of its addictive nature is rooted in its gameplay. Players who jump on board the game with freebies are destroyed by paying players, forcing them to either pay for an upgrade or drop out of the game altogether. does not result in wasted effort; users have the option to sell their items at the end of the game.