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How Could NFT Gaming Change the Way We Look at the Web3 World?

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riya steve
How Could NFT Gaming Change the Way We Look at the Web3 World?

When one of the first blockchain-based games, CryptoKitties, arrived in 2017, no one thought that the cat-based trading game involving non-fungible tokens would have any impact on the gaming world. But, all such thoughts went wrong as we witnessed yet another revolution involving the technological transition from the Web2 to the Web3 ecosystem, with gaming as the epicenter. The global NFT boom in 2021 bolstered NFT gaming to another level, with the gaming community increasing in size within a few months. Also, new blockchain games entered the arena at that time and generated some viral buzz, which accelerated the gaming communities’ change of minds. In this blog, we will see more about NFT gaming and how the domain would change the general public perception of the Web3 world.

What are NFT Games?

NFT games or blockchain-based games, or Web3-based games are those which are hosted on blockchains, and in-game items take the form of non-fungible tokens. These gaming platforms work on the play-to-earn (P2E) mechanism, where players will get cashable rewards by playing the game. Also, players can own the items they buy for real and resale those items. Additionally, the in-game items will be intentionally kept scarce to encourage secondary sales, which means a player can earn back their investment even if they wish to opt out of playing the game.


How Do They Differ From the Existing Games?

As far as the current gaming ecosystem is concerned, the transactions are one-way, meaning that any money that the player spends on a game cannot be earned back. All the money and associated profits go to the gaming company owners, who only thank the gamers for their time. But, with the P2E mechanism, a gaming platform can give back to its community while earning its profits. Also, the support for decentralization of the internet and the rise of Web3 technology has been paving the way for more realistic games giving more real-world utilities. With insanely fast development ongoing, we might soon see games in the quality of some Hollywood scripts similar to Free Guy.


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