NFTs have become one of the most critical components of blockchain and cryptocurrency. In fact, some of the very first blockchain games that were powered by Ethereum and Bitcoin relied on NFTs to capture new users. These were the days of games like CryptoKitties and marketplaces like the NBA’s Top Shot.
Over time, however, NFTs have started to evolve. Their use cases in the realm of gaming and collectorship (which often go hand in hand) have steadily diversified. However, NFTs rely on cryptocurrency and blockchain platforms, which have hit more than a few roadblocks in the last few years. It seems that NFTs need more time to fully enter the gaming market.
In the realm of iGaming, for example,
NFTs could become a larger part of the picture. At the moment, however, most
players are focused on the classic choice of pokies
or slots. These minigames offer a short and exciting setup, taking players to
unique and quirky worlds as they spin the reel. There’s plenty of potential for
growth and diversification of slots, especially when it comes to adapting
tokens for the gaming experience.
The same is true for dozens of other
games, from casual match-threes to hyper-competitive battle royales. The idea
is that NFTs can integrate into the overall system, world, and even mechanics
of popular titles. At the moment, fans of games like Axie Infinity and Decentraland
are helping pave the way for future projects.
So where could things go in the
future? Let’s take a closer look.
In-Game Markets
Let’s start off with one of the
clearest examples of NFTs in gaming: in-game markets. Axie Infinity is a great example, as players help raise and
battle-harden tiny creatures called Axies. The Axies are actually NFTs,
which players can use to level up or trade with others. Assuming they can
create a truly formidable (and cute) Axie, they can even cash out.
Any type of game with an extensive
in-game market could similarly adapt in-game items as NFTs. A classic example
would be EVE Online or even RuneScape. Both are vast open-world and
multiplayer games that rely on extensive in-game economies.
Virtual Real Estate
Another likely adaptation of the NFT
is as virtual real estate, which is the case for the aforementioned Decentraland. As with The Sandbox, players enter a virtual world where they’re able to buy
digital property, launch digital projects, and much more. NFTs are focal to the
experience, as just about everything in these worlds are NFTs.
Along with virtual plots of land,
other in-game NFTs could be art, wearables, and other items… which can be used
to help deck out real estate or the player’s avatar. Going forward, NFT-based
digital property could take off—especially if more and more VR games start turning toward blockchain, as
with games like Victoria VR.
Customization & Limited Editions
So far, we’ve outlined two of the most
involved ways that NFTs could become part of the gaming industry: as economic
assets and as virtual property. But some games might instead prefer to use NFTs
in a more complementary way. In other words, they aren’t the game’s
focus—they’re just an added bonus for players.
This reflects the more collectible
nature of NFTs but would center the popular trend of customization in gaming
worlds. Skins and similar visual features, for example, are hugely important
for many players in games like League of Legends and Counter-Strike.
Should these games see blockchain adaptations, NFTs could simplify the concept
of creating and trading these types of collectible designs and virtual items.
They could also become the subject of
certain rewards. For example, players who manage to meet a certain milestone
could be offered a limited edition NFT, which they can trade or keep. This
allows game developers to create more meaningful playing experiences for hardcore
players.
