The ever-evolving gaming industry has now given players the boon of NFTs. Non-fungible token games are where players can buy and hold limited and unique digital assets or collectables created on the blockchain. The decentralized gameplay offers many advantages to game owners and players alike.
With the advent of the internet, online gaming skyrocketed, enabling players to enjoy their favorite games anytime, anywhere. However, compliance, security, genuine sites and privacy became a concern for players along the way. Incorporating NFTs in gaming is changing the scenario and offering gamers rewards for playing that can be converted into cash.
While gamers would gain some money or ornamental things in traditional games, they couldn’t use it outside the game world. On the contrary, in NFT gaming, players can transfer their profits to any other game or swap them for bitcoin with other players. The digital assets in NFTs can be memes, GIFs, and in-game collectibles. When the items become rare, players can also trade or sell them at a higher price!
At Slavna Game Studio, we specialize in NFT games and bring the top benefits our clients and their players have experienced over the years.
Offering a Source of Income
The main advantage of an NFT game is fun and profit together. Players can earn money from their favourite activity without even becoming a professional player who only wins big championships. In developing countries with unstable economies, unemployment rates are often high. For people living in such areas, NFT games offer an opportunity to earn more from playing games – a hobby they love! For example, Axie Infinity, a top-rated NFT game, reported offering $2000-$10000 per month to players from the Philippines.
If you purchased some bonuses in traditional games, they were usually locked in the game itself, right? You couldn’t trade it with other players or convert it to cash when needed. NFT games allow gamers to trade their NFTs across various supported platforms since they are decentralized. Players can also sell the NFTs to other players or withdraw them to their NFT wallets at any time and showcase the NFTs in a marketplace. This ownership and control empower players in every NFT game.
Assuring Complete Security
Since every NFT game that’s built on blockchain is unique and can’t be replicated, players can be sure that their NFTs won’t be stolen or duplicated. The security system is highly robust, and the data transferred in NFTs consists of blocks of chains with a unique key. It ensures there’s no room for cybercriminals.
Profiting from Scarcity
NFTs are primarily based on the concept of rarity or scarcity. The more rare and desirable a collectible or asset is, the higher returns a player makes in exchange for the asset. As a result, all gamers are interested in earning the most unique assets while playing NFT games.
Boosting Interaction and Engagement
NFT games create a more engaging experience for players, and they also interact more with other gamers from across the world, promoting community building and social bonding. It helps them enjoy the game and stay loyal to their favorite games for a long time.
The traditional gaming market is highly cluttered, with no room for growth or development. In contrast, NFT games are rising in popularity, offering new opportunities for gaming companies to earn and invest. Moreover, there’s a lot of potential in this market with an increased transaction per second (TPS); thus, it offers high business scalability for any gaming company.
Attracting More Money
There are many ways an NFT gaming company can earn money. First, there’s a paid entrance for new gamers in many NFT games. Secondly, NFT assets have a higher price compared to traditional in-game assets. Also, gamers can sell these digital collectables inside and outside the games, opening up new possibilities. Lastly, all gamers who transfer their NFTs to a marketplace or a new owner must pay a transaction fee to the gaming company, increasing revenue.
Drawing Venture Capital
Since NFT gaming is snowballing, it’s a promising investment field for venture capitalists. You can finance your project with external funding to grow your business without your own funds. In addition, investors are now recognizing the enormous potential for profitability in crypto and blockchain. Gaming companies that embark on the blockchain-based bandwagon for gaming can attract exceptional funds. In fact, venture capital funds will invest over 52 billion dollars in the next few years in blockchain-based firms and solutions.
NFT’s worth is determined by its rarity. Since blockchain technology maintains transparency, game companies can verify the owner of NFTs and their scarcity. Also, the market is currently not as crowded for NFT games, so there are many new ways gaming businesses can launch their ideas with NFT games and a play-to-earn model.
Enjoying Takeovers and Mergers
If you’re a small-scale gaming business company and want to attract a merger or takeover, an NFT gaming token and game creation can propel your business to new heights. Industrial peers are often interested in buying or investing in modern gaming enterprises, and you could get an exceptional deal.
At Slavna Game Studio, we help you leverage the potential of NFT games and embrace all these benefits with the support of our dedicated team members.
Contact us to get started.