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NFTs in Gaming

While the integration of NFTs in the gaming industry is not new, it is set to get even bigger. In recent years, many NFT games have been developed. In 2017, CryptoKitties, an NFT-based video game, was launched. The game allowed users to collect and sell kittens that were minted as NFTs. The game’s popularity surged to the point that the Ethereum blockchain began to slow down due to usage-induced network congestion.

There is also the area of play-to-earn gaming, which NFTs have dominated. Play-to-earn games have features that reward players as they continually play games and get to new levels. One primary example of such NFT games is Axie Infinity. The game prompts users to purchase monster NFTs and engage in battles with these NFTs as characters.

The game is built on the Ethereum blockchain, like most NFT applications, and it has a play-to-earn feature. Through this feature, users can earn tokens while playing the game and purchasing NFTs. Also, the main source of attraction for many users is that the NFTs that are purchased to battle on the Axie Infinity game can be resold later. As such, gamers do not only purchase these characters for the fun of it, it can also be a source of investment. By October 2021, news platforms reported that the Axie Infinity game had hit a peak of over 2 million daily users. About $1 billion worth of NFTs has also been traded on it. As the world of NFTs continues to evolve, it is expected that innovators will build more games within the system.

Asides from NFT-based games, platforms may also link in-game purchases to NFTs in the future. Often, gamers have to purchase in-app treasures or weapons to unlock a new stage within a game. These in-app purchases serve as a major source of revenue for many game developers. However, NFTs can be applied in this area by providing gamers with the opportunity to resell their purchases. In addition, when an NFT version is created for a game feature, it means that the NFT will continue to exist even when the game is shut down. This provides benefits for gamers as it ensures that they can make money off their purchases, and they can continue to hold the assets even after losing interest in the game.

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