What are NFT Games and How do they Work?
NFTs have been around for some time now, but the meteoric rise is quite a novel phenomenon. Especially in the past few years, NFTs have made it into party conversations and small talk. They have become synonymous with art, gaming, and with financial investments. But, the scope is far beyond just that. A video clip, a music composition, a photograph, an autograph, or any other digital asset can be an NFT. In fact, you can even convert an image into an NFT using a platform like ours.
Despite the massive popularity of the NFTs, most people shy away from exploring Web 3.0 and making their own NFT collection. Primarily it is due to the perceived complexities of the process and the jargon like cryptocurrency, crypto wallet, minting, gas fee, NFT generation, and more.
Appy Pie has a solution for just this situation. You don’t need coding or any specialized knowledge to make an NFT with Appy Pie. Try it for yourself!
What are NFTs?
An NFT or Non-Fungible Token is a digital token on the blockchain that represents a unique item. There are several rich use cases of NFT today, including gaming assets, art collectibles, and even physical objects like real estate.
Nonfungiblity means that the property cannot be replicated or exchanged for an identical property. For example, you can exchange a $1 bill for another identical $1 bill, but you cannot exchange one NFT for another identical NFT because it doesn’t exist.
NFTs are bought and sold online with cryptocurrency and are encrypted with the same technology as cryptocurrency.
What are NFT games?
If we were to simplify the concept, an NFT game is a game that incorporates NFT in some capacity. An NFT game goes beyond the typical acquisition and holding of NFT collection in your crypto wallet. NFT games include player interactions, sale, and purchase of gaming avatars or characters and other gaming assets. It even lets the players earn money through play-to-earn money.
The world of NFT gaming is particularly intriguing as it creates unique tokens in limited quantities that can be exchanged with other NFTs in a decentralized digital ledger based on blockchain technology. This lets the gamers assume ownership of gaming NFTs with the option to swap, generate, and implement NFTs in the game. The developers create smart contracts that define the rules of the NFTs.
How do NFT games work?
As I mentioned earlier, NFT games are more than just holding NFT collections in your crypto wallet. An NFT game uses NFTs as a part of its rules, operations, and interactions among the players. Within a game, for example, you can convert your game characters or avatars intoNFTS, or in-game assets like weapons, accessories, or other digital items into NFTs. Eventually, you can exchange your NFTs with other players and make profits.
Another interesting way to make money from NFTs is the new play-to-earn business model, which lets you generate income from NFT gaming! We have talked about making money from NFTs in this article about the top NFT marketplaces. However, here, we will talk specifics about gaming NFTs and how you can play to earn money from NFT games.
So, the next question is, how will you implement your NFTs into a game environment – technically speaking. Developers create smart contracts that define the rules for using the NFT, like swapping, creating, and implementing the NFTs in the game. These smart contracts are self-executing codes on the blockchain.
What are play-to-earn games?
NFT games are a combination of conventional game design and unconventional mechanisms. It gives gamers more control over the coveted in-game assets like skins, weapons, accessories, characters or avatars, virtual lands, and more.
This mechanism is possible because the games are launched on the blockchain and anchored with economies powered by digital assets.
The in-game digital assets are mostly NFTs, meaning they are unique and tamperproof. Using NFT token standards in gaming lets the developers create and maintain uniqueness and rarity for the in-game assets. This also leads to some blockchain game assets being more expensive than others.
Once this NFT gaming system is in place, gamers can opt for any one of the following three strategies to gain ownership of in-game assets:
- Create or breed new game characters
- Buy digital assets either on the native marketplace or a third-party alternative
- Play the game by the rules and unlock new digital assets
Irrespective of the way you choose to do this, your digital assets are yours, and you have complete ownership over them. You can distribute or sell them to make money. Hence this model is named – play-to-earn.
How to make money with NFT games?
For most readers, this is the section that holds the most intrigue as the most frequently asked question we get is – can I make money playing NFT games. Of course, you can play NFT games to make money, and let us tell you how!
- Earn and sell cryptocurrency
This is one of the most rudimentary ways to make money from NFT games. All you do is participate in the in-game tasks or activities and win cryptocurrency as a reward. The player can then sell these cryptocurrencies for fiat currency.
- Earn and sell NFTs
Gamers can earn in-game assets or rewards in the form of NFTs. These NFTs are, of course, collectibles but can be sold in exchange for money.
- Buying and reselling NFTs
This is the most expensive and risky method to make money from NFT. The player can invest in what may seem to be a promising NFT with the intent to resell. Of course, the risks are high, but the returns are the highest too!
Despite how lucrative it may seem, you must know certain important things about making money from NFT games. The most important among them all is – even the best free NFT games would require you to make an initial investment. If you are planning to use the play-to-earn model, it makes sense to choose a game that you enjoy playing. Otherwise, you will lose interest quickly and give up on the game, probably losing the investment you made initially. Don’t just leap into new NFT games just because they are new!
How to make your own NFT avatar?
Intimidating as it may sound, it is super simple to make your own NFT avatar with Appy Pie, and it only takes a few minutes from start to finish!
- Upload your image
- Convert it into an NFT avatar
- Customize your avatar
- Download and share your avatar
- Use it in your game as your main character avatar
Yes, it’s that simple! What’s stopping you from trying it now?
Have you ever played an NFT game? Do you want to build your own NFT collection? Reach out to us, and we may have the perfect solution for you! Leave a comment below. I’d love to hear your thoughts too.
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