Meaning of NFT For Games

2 min readSep 15, 2022

NFTs (Non-Fungible Tokens) are unique digital assets created on the blockchain. They can be everything from gaming items: lands, avatars, skins, and almost any item in the game.

Blockchain is appealing because it is decentralized (no one owns or controls a blockchain), which prevents someone from forcibly altering data to their advantage. Each computer confirms that its copy of the blockchain is identical to everyone else’s by storing the blockchain simultaneously on all computers. NFTs are all stored on blockchains. A blockchain is an uneditable record of data, usually transactions. Once an NFT is written into a blockchain (known as minting), it cannot be duplicated, altered, or destroyed.

Unlike traditional digital in-game items stored on centralized game servers, the decentralized nature of NFTs unlocks new monetization methods, innovative marketing tactics, and more.

Many crypto enthusiasts think that converting in-game assets like weapons or character skins into NFTs will lead to actual ownership and the opportunity to resale undesirable in-game goods. According to some, avatars, lands, and NFT objects would be transportable between games.

NFTs are additionally utilized as access passes to demonstrate ownership of the only authorized access to a Discord server or, hypothetically, a VIP area in a game. Although they are not yet typical, several major corporations are already heading in that direction.

True ownership is also a game changer — it wouldn’t matter if anyone shut down the game servers because you’d be able to use your NFT-based avatar and game assets, such as guns, swords, skins, etc., and even trade it on the market. True ownership is recorded in the blockchain instead of on the game’s servers.

Furthermore, game visionaries are beginning to see that the decentralized aspect of crypto gaming has the power to change the dynamics of and blur what it means to be a player, a game dev, a creator, and an investor in some types of games which could lead to much more profound relationships with the games than we can currently have as players.

Conclusion

Blockchain has evolved from a cumbersome tool used by crypto enthusiasts into a scalable decentralized platform for industry-specific applications. The cost to build a blockchain app depends on various factors, such as hiring skillful blockchain developers. The budget for implementing blockchain and NFT might be too high for small and medium game studios.

Also, moving NFT-item from one game to another is not low-hanging fruit. Developers must modify their games, so animations, textures, hitboxes, and character models can work in a new game. From another hand, we see that technology, standardization, and game programming change over time, so it might reduce the complication and cost of NFT adoption.

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Meaning of NFT For Games

Conclusion

Written by SportE Official | #MoveToEarn #M2E