What is NFT game? Blockchain game market

A bit of history about gaming

Over the years, the concept of gaming (or video games) has evolved significantly, from a simple Pong game to complex software solutions across consoles, PCs and mobile devices that provide A virtually unlimited range of genres and interactions, transforming games from simple forms of interactive entertainment into complex universes that are both engaging and captivating.

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While the PC and console markets are lagging behind mobile, which dominated more than 50% of all internet traffic globally for the first time in the first quarter of 2021, a new type of game has emerged. and is entering the market with incredible success.

Blockchain gaming

The CryptoKitties game launched on the Ethereum lazy network in 2017 and really caused the network to become congested. As gamers flocked to enjoy the new type of blockchain gaming, the money flowed to the rear. The most expensive “cat collection” ever sold in the game was worth $117,000, which says a lot about the prospects of the decentralized game.

The first quarter of 2021 sees the introduction of an upgrade in the crypto game in the form of an NFT game, which has moved from a Play to Earn game to a Pay to Earn principle-based collectible game, as the Rare NFTs often fetch sky-high prices in the market.

Notably, over 80% of traffic on the Ethereum network has been attributed to decentralized gaming and betting transactions over the past two years. Meanwhile Binance Smart Chain is also catching up by providing many interesting crypto game projects, like Battle Pets, MOBOX.

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Crypto Gaming vs NFT Gaming

Crypto Gaming and NFT Gaming are two different niches, as Crypto Gaming is more focused on spending cryptocurrency to earn and trade with other players, while NFT Gaming focuses on using native currency to create and collect unique NFTs that can be used in a special action game or kept and sold later.

What problem does blockchain gaming solve?

Modern games are very isolated as players can only interact with their characters and items inside the in-game environment, with no connection to the real world. Plus, most online and offline games can be modified or hacked, giving some gamers an unfair advantage over others.

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Decentralized gaming gives players what they need - an economy based on the principles of transparency, immutability and fairness, eliminating the possibility of fraud and allowing players to start earning money from playing in the game, instead of spending.

Beyond principles, blockchain allows developers to explore entirely new horizons in a virtually limitless and scalable infrastructure that offers untapped possibilities for infinite integration. Model numbers and technologies ranging from VR, AR, unverifiable pseudo-random number generators and more. All together, such technologies extend the meaning of gaming beyond handheld interfaces.

Difficulties of Blockchain game

  • Transfer fees, which can often take away a large portion of a gamer’s earnings

  • Loss of data and rewards for those who maintain the game universe network

  • User interface and experience are also a major obstacle to blockchain-based game adoption

  • Money laundering using NFT is being considered by the authorities as a new type of crime

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Future of Blockchain game

Players want variety, new experiences, and are eager to start monetizing their favorite games. What else is there to say about the prospects of blockchain games, as blockchain itself is still young and just beginning to develop its potential.

The coming years are sure to see an explosion of new titles flooding the market as blockchain networks scale and allow users to access more mobile-friendly games. and use better graphics and engaging storyline.

15 Likes

Silsea.io
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1 Like

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1 Like

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1 Like