We are about to enter a new world of video gaming – and you have the opportunity to learn about it early.
What is an NFT?
NFT stands for “non-fungible token” and represents digital item asset ownership, similar to cryptocurrency.
Cryptocurrencies like Bitcoin are considered “fungible” because one bitcoin is equal to another bitcoin. However, non-fungible assets are often unique and are not tradable 1-1.
What is the meaning behind NFT games?
Imagine if the digital items from a video game were NFTs. This means that you own the items instead of simply “licensing” or “renting” them from a centralized game server!
What Are Web3 Games?
Web3 games are the next innovation in video games that utilize blockchain technology to offer player owned assets, player governance, DAOs (decentralized autonomous organization), and avatars that persist across multiple games or worlds.
Currently, the majority of video games are contained within their own world, meaning player inventory items, gear, and collectibles all remain in the game’s ecosystem.
In Web3 gaming, a player might own a unique and scarce gun, skin, gear, or avatar that is tracked on a blockchain such as Polygon, Immutable X, WAX, or Ethereum.
NFT domain names with ENS or Unstoppable domains may become the player’s persistent username across multiple gaming ecosystems or worlds.
Watch the video below for more information on how all of this works.
What is the Metaverse?
The Metaverse describes a gaming world which is comprised of multiple gaming worlds, meaning a player might jump from one game to another but maintain the same character, inventory items, and wearables.
Examples of NFT gaming items:
- Inventory items like swords, shields, and armor
- Wearables like hats, clothing, sneakers, or avatars
- Real estate like digital land, estates, or plots
- Trading cards, where the player actually owns the cards
- Vehicles, ships, cars, or other property
Play to Earn Explained
This new type of game playing time or grinding is now referred to as “play to earn,” because the player can now verifiably own items they earn from playing games.
These items often have monetary value which means the player is now “earning” an income from their digital asset ownership.
What is a NFT Game? This Video Will Explain NFT Gaming
Watching and understanding this information will put you far ahead of the average video game fan, and quite far ahead of the average crypto investor and enthusiast that has yet to discover the blockchain gaming space.
Watch This Video From Enjin
What You Should Have Learned
As you can see, we’ve now entered a new generation of video gaming where innovation and potential will reach all new heights.
To summarize, here are the major points of understanding:
- Never before have gamers been able to truly own the assets they earn in games. It is now a reality with blockchain
- Spending hours and hours grinding through games to earn items can now pay off immensely depending on the scarcity of items collected and their overall demand (economies)
- New gaming markets emerge where items can be traded and sold
- Take weapons, armor, and assets from one game and use them in another!
The Problem of Digital Asset Ownership in Video Games
Watch this video featuring an epic rant by World of Warcraft streamer Asmongold:
Gaming Examples & Comparisons
World of Warcraft
Imagine if weapons and armor found in World of Warcraft could be taken into a different game. This is kind of mind-blowing!
Imagine if PewDiePie was live streaming an epic World of Warcraft dungeon crawl, and he slays the final boss with an epic sword.
He then offers to send that sword to one of his loyal fans, with ownership provability.
Meaning, the new owner can now say “I own THE sword from that epic PewDiePie stream!”
Imagine if the playing cards used to play online trading card games such as Hearthstone are provably scarce, and offer the owner true ownership.
What Games Should I Play?
There are many projects in the works, and many are in their infancy, in pre-alpha or beta mode, or just getting off the ground.
Lucky for you, we have spent a lot of time researching and grinding to come up with the best blockchain games you can play right now.
I Think I Have Items – How Do I Check?
The Possibilities are Endless!
Hopefully this brief guide allows you to understand why blockchain games are different, exciting, and unlocking loads of new potential.
Follow Castle Crypto for all the latest news on NFT game releases, new technology, and early access opportunities!