Gaming is arguably currently the biggest niche within entertainment and a sector which is worth multibillions per year. While the sheer fun and excitement gaming offers helps explain this, its growth over time has also been supported by incorporating the latest developments in technology.
This becomes clear when you consider how much more advanced the latest gaming consoles are compared to those from 20 or 30 years ago. When you also look at the advanced software used to create the latest games, the impact of tech in the industry becomes even more clear.
One innovation which is set to help gaming move forward in years to come is the non-fungible token (NFT). NFTs are often referred to when people talk about the impact cryptocurrencies and blockchain can have on the entire industry. There are many uses for NFTs in games, which leads many in the sector to believe they will become a major part of it moving forward.
NFTs signal the continued rise of crypto in gaming
While it seems fairly obvious that non-fungible tokens are something we will see within gaming more in future, it is part of the wider picture around crypto gaming in general. After all, this blockchain-based tech is just the latest way cryptocurrencies are making their mark on the entire sector. If you want to follow more closely, sites such as https://dappgambl.com/ educate people about NFTs and generally dives deep into everything crypto related.
Many avid video gamers also like to play casino games online and will know all about the splash that crypto has made in this niche. This ranges from dedicated crypto casinos to game at online to standard iGaming sites starting to accept digital cash as a payment option.
As with NFTs in gaming, crypto in online casino play specifically has changed the face of this niche. It not only offers iGamers better privacy and anonymity but also features excellent security, awesome transaction speeds and low fees. This demonstrates not only how cryptocurrencies have changed iGaming but also how tech like this can make an impact within gaming in general.
But just why will non-fungible tokens change how we play games in the future?
Loot boxes
Loot boxes are a relatively recent development in terms of game design and a feature that many titles now include. While developers will point to the extra content it provides to players and the extra longevity it can give to games, many players also realize that they are a good way to generate more revenue for studios.
One aspect of loot boxes which make them appealing is the chance of finding a rare item in one you purchase online. Traditional loot boxes though do not guarantee this, and some players can spend large amounts on boxes which do not contain anything of value. NFTs offer the chance to change this and avoid people having to spend an exorbitant amount of cash to access rare or collectible items.
If the items you unlock in a loot box are NFTs, you will be able to sell them as collectibles and hopefully make back the money you spent accessing them. If the loot box has crypto tokens inside, then players can sell them on a crypto exchange to make their money back. Of course, putting NFTs inside loot boxes also means players know they will get a one-off item which is rare before shelling out funds to open it up.
Giving value to in-game items
It is not just NFTs inside loot boxes which can allow players to add value to their in-game finds. The same principle also applies to items which you may unlock or find in normal gameplay, but how does this work exactly?
When you play a game such as Elden Ring for example, you may find a rare item or unique weapon as part of your gaming session. These can often take days or weeks to earn, but have no real value outside of the game itself. If this type of item were created as an NFT though, it would suddenly have an actual value outside of the game.
Making in-game items unique NFTs gives them value in the real-world and enables gamers to sell or trade items. In addition, game studios can turn unique items in their games into NFTs as a way to make their titles more appealing to gamers. All this could make staying up to date with upcoming NFT drops something more players do in future.
Sharing of items between games
NFTs are based on cutting-edge blockchain technology, which gives them a unique advantage in changing the face of gaming. In simple terms, this innovative tech makes it easy to transfer items based on it between games. As a result, NFTs could be used in gaming as we move ahead to facilitate the sharing of unlockable tokens between titles. This would open up a whole new world of design to game studios and make for a much more integrated gaming universe.
This idea has already been implemented in the Pokémon range of games. NFTs though allow developers to expand on this concept and give players easy to share tokens which can be transferred into any title that supports transfer. When you consider the potential this has for providing a personalized, custom gaming experience that players are in control of, it is quite impressive.
Gamers can earn as they play with NFTs
Just as cryptocurrencies have transformed industries such as investing, NFTs are set to change gaming as we know it. One example which all gamers will take an interest in is the ability these tokens offer to earn while you play.
We have already noted above how this could work in terms of selling NFTs found in games or purchased in loot boxes to other players. However, the possibilities to earn from tokens like this as you game does not end there. This should lead to game developers starting to design titles in a way which enables people to earn rare NFTs as they play. In essence, this will allow you to earn unique tokens to swap or sell as you make your way through various stages of a game.
It is thought that the more hours you put into a game and the more effort it takes to earn the token, the more valuable it will be. This in turn means that the more you play, the more you earn with NFT-based gaming rewards.
NFTs deliver provable rarity to gamers
When you look more closely at what non-fungible tokens can add to gaming, it is clear just how they could change the way we game and alter the content within games. One example of this is how NFTs can add provable rarity into the sector and change how it’s possible for items that are found or purchased in titles to be viewed.
At the moment, the perceived rarity and real-world value of items rests on the opinion of gamers. You might buy a unique character skin and believe it to be ultra-rare based on what you know about it for example. This is hard to prove with any certainty right now though and makes it tough to illustrate a factual value to other gamers.
NFTs solve this issue as they are unique tokens with a proven value which is simple for other gamers to see. This in turn means it will become much easier to factually prove the value of in-game NFT finds and purchases.
Gaming could become more than entertainment
Perhaps the last major way NFTs could change gaming in the future is what it could mean for the sector in general. As the above shows, these tokens bring real-world value to gaming and place a real-world value on items that games contain. When we also factor in the ability that NFTs have for players to earn as they game and track down NFTs in games to sell or trade, it is easily to see how the very nature of gaming as a pastime could develop.
It is important to remember that playing games has always been about pure entertainment until the present day. With in-game items having no real value in the outside world before NFTs, gaming was all about having fun. The introduction of these tokens into the industry though is set to change this moving ahead. This could result in people playing with the main goal of making money through NFTs.
Gaming set for a bright future with NFTs
There is no doubt that gaming overall is a sector which has enjoyed superb growth over the last few decades. Much of this success has been due to its appetite to move with the times and use the latest tech to engage players.
The rise of cryptocurrency within the sector is a good example of how this is continuing to happen and NFTs are a specific sign of what might be in store for gamers. There is no doubt that these tokens have real advantages for gaming, and this gives them the ability to lead to genuine change in the sector moving ahead.