Most NFT games have a token, so the tokens earned are often part of the game's economics. Players can earn in different ways depending on how long they play for, including token rewards and NFT collectibles. Game players can earn income with play-to-earn NFT games. Pre-alpha footage of the NFT game 'Guild of Guardians' - Source: Guild of Guardians How does the play-to-earn model work? While NFT games differ from game to game, most NFT games require you to connect your crypto wallet, purchase or collect in-game characters, play using your characters, and take part in some type of competitions or battles to win.Īdditionally, most NFT games have an element of collectibles that can be won, bought, and sold to earn crypto. Guild of Guardians raised $5.3m in their token sale of their native token GEMS in late 2021 with the game soft launching in Q1 2022. For example, a game developer can sell game characters in an adventure game as an NFT before the game launch. These NFTs can be auctioned before the launch of a game to grant a few people early access or sold to raise money to fund the development of the game itself.
For example, a player avatar can be an NFT, power-up items can be NFTs, weapons can be an NFT, and more. Game developers can use non-fungible tokens in every area of a game's mechanics and interactions.
If you haven’t heard about smart contracts, they are self-executing code - typically involving what/if statements - that are deployed on blockchains. Game developers create NFT games through the use of smart contracts that specify the rules for how the NFTs are used in-game. NFT games allow players to earn cryptocurrencies for playing and provide new monetisation models for game developers. Players can trade these in-game assets for cryptocurrency on a marketplace, and all transactions are recorded on the blockchain. The value of these assets depends on their rarity and importance in the game. NFTs are used as in-game items, characters, and avatars that players need to successfully play a game.
NFTs can’t be copied and pasted, which means each item is cryptographically unique, like a digital version of the Mona Lisa.Įmploying NFTs in games allows developers to create unique digital assets that are scarce. Non-fungible tokens (NFTs) are unique digital tokens that “live” on a blockchain. In this guide we will explore the different types of crypto games and exactly how they work, as well as how you can start trading cryptocurrency and explore this new space. This unique form of gaming allows players to earn digital assets in the form of NFTs or cryptocurrency, essentially being rewarded for their skills and achievements inside the game. While in the past, games were solely for entertainment, NFT games enable anyone with an internet connection and a crypto wallet to earn an income for playing and winning at their favourite online games. Play-to-earn blockchain games have become increasingly popular in 2022, providing gamers with opportunities to earn crypto.