The first major application where NFTs took off were their use in video games. Several NFT-based online games have found major success with players purchasing and trading their own unique NFTs to use as avatars within the game, enabling them to earn rewards and mint more, scarcer NFTs. This interoperability of assets by tokenising them as NFTs to utilise in a play-to-earn mechanic is called gamification, and is rapidly disrupting the gaming industry as it makes its foray into the metaverse.
This ability of NFTs as an additional means to make money within video games and turn them into a more viable means of leisure time, through GameFi, is what excites developers and gamers alike. Crypto investors now see the gaming industry as a source of untapped potential and revenue generation more than ever before.
If you’re developing a video game, implementing blockchain and NFT technology will enable your players to get more out of their gaming experience than ever before. NFT gamification increases a game’s profitability and playability by applying blockchain technology to traditional game elements like point scoring and rewards, competition and playing rules, enabling players to earn money or mint rarer rewards as they win.
Blockchain Australia™ has already undertaken a successful case study of gamification within an MMORPG ecosystem in action, combining popular gacha games with NFTs. With our gamification and game development consulting team, you can kickstart your NFT gaming venture via Binance NFT and develop a revenue-earning play system.
Our experience with blockchain technology and smart contracts can help you derive even more power from in-game NFTs, by allowing players to stake their NFTs behind smart contracts and sell them to reap rich rewards.
We’ll help you set up your own initial offering via Binance smart chain to help your blockchain-based game set itself up within the metaverse, be it your own company’s or via purchasing digital real estate. Users already operating within the metaverse can use their NFT avatars to earn rewards by playing, and mint further rewards such as weapons, custom skins, and more to increase the rarity of their assets.
Gaming has always been built around a strong sense of community, and crypto gaming is no exception to this. With the rise of NFT guilds formed around decentralised games, new players can ‘rent’ NFTs to get started at lower prices, and gradually pay back the lender via the rewards they earn. With the rise of NFT gamification, gamers are finding new ways to build relationships on a player-to-player basis.
With the traditional model of gaming being play-to-win, it has always been viewed as a source of leisure or entertainment rather than a genuinely productive activity. With NFT gamification and the play-to-earn model, that view is gradually changing. By investing in and trading NFT characters within the games, players can farm cryptocurrencies or generate new NFTs and keep their cycle of profit going.
One major limitation of traditional gaming models is that games are limited by their ecosystems that aren’t compatible with each other, such as PC and console games. With blockchain-based games set in the metaverse, which needs only the internet to run, this barrier is effectively removed. NFT games that run on the same or interoperable blockchain networks can have the same tokens interchanged between each other. Decentralised gaming will be the future.
Founder and CEO, Blockchain Australia™
