The future of NFT-based games
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The future of NFT-based games

The future of NFT-based games

These games have the potential to boost the economy and affect the gaming industry in significant ways

Gulf Business
NFT-based games

FT-based games have emerged as a new trend in the gaming industry, driven by the growing popularity of NFTs (non-fungible tokens) and the desire to create more immersive gaming experiences. Unlike other game genres that perform well in certain regions, NFT-based games and experiences are in demand globally, with the UAE and the MENA region being the genres hub for growth.

Broadly speaking, the gaming industry in the region has been growing rapidly in recent years, with more investors pumping capital into development and esports, and more players getting their voices heard for experiences that could have been previously unavailable to them prior.

In conjunction with these projections, the Dubai Chamber of Digital Economy has reaffirmed their commitment to aiding the emirate, with plans to boost Dubai as a regional and global gaming industry hub. With such significant growth expected, the potential for NFT-based games to establish itself as a major game genre beckons, as developers and gamers alike will continue to see resources invested in the right areas.

Variance of game mechanics

NFT games utilise NFTs to represent unique in-game items or assets, allowing players to buy, sell and trade these assets on blockchain-based marketplaces. The growth of NFT-based games is significant, with more developers and players embracing the concept of using NFTs in games. These games provide players with a unique gaming experience, allowing them to own their in-game assets and participate in a decentralised gaming economy. This has led to a surge in popularity, with developers allowed to flex their technical expertise, by creating entirely new experiences that are accessible via NFTs and blockchain integration.

NFT-based games are becoming more sophisticated, with developers experimenting with new mechanics, such as player-owned game worlds, in-game governance systems and play-to-earn models. These models are intricate systems that developers are building. These innovations have the potential to revolutionise the gaming industry, making it more player-centric and rewarding for players who contribute to the game’s ecosystem.

Inspired by traditional gaming genres and concepts, these games have traditional game genres with some form of variance, bringing out a unique sense of character, and a plethora of other mechanics. From collectible games where NFTs represent cards to battle pet simulators where the NFT is your unique pet, there is a high standard of innovation that perhaps is overlooked by many.

A rising style of NFT games named gamification explores the play-and-earn model, with a variety of modifications and variations such as social to earn, race to earn and watch to earn, all possible angles in which developers can structure their games. One example of a play and earn game that blends multiple experiences is Banksters, who have implemented a full scope of classical and blockchain gaming. The firm has created a trading NFT game, which seeks to reward players for understanding crypto market trends, whilst challenging them to put their knowledge to the test by expressing their trading skills and game strategy.

NFT-based games and economy

NFT-based games have the potential to boost the economy and affect the gaming industry in significant ways. As players earn cryptocurrency by playing these games, they are essentially participating in a new form of work, which has the potential to disrupt traditional employment models. This could lead to a new era of decentralised work, where players can earn a living by participating in decentralised gaming economies.

Furthermore, NFT-based games are already affecting the gaming industry by changing the way developers approach game development. As these games become more popular, developers are beginning to think more about how to create decentralised economies and player-owned game worlds. Nextbraintech expects that this could lead to a shift in power from game developers to players, making the gaming industry more democratic and player-centric.

With the potential to transform the gaming industry and create new opportunities for players and developers alike, the future of NFT-based games is promising. As more players embrace the concept of owning their in-game assets and participating in decentralised gaming economies, we can expect to see more innovative NFT-based games emerge, pushing the boundaries of what is possible in the gaming industry.

Alex Altgausen is the co-founder and CEO at Banksters

Read: American video game retailer Gamestop launches NFT marketplace

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