Potential of Non-Fungible Tokens in gaming industry

The gaming industry is going to rule the crypto market in the next two decades. This is my personal opinion. Some of the bigger gaming companies want this technology to stabilize a little bit so that they can make use of this to build games. There have been many games on top of web3 and people find it interesting to purchase the game assets in the form of NFTs that would have other use cases. One of the biggest advantages that NFTs give is the ability to trade with other players.

I personally see a lot of potential for NFTs in the gaming industry. It can initially take some time for the new non-crypto folks to adopt to these concepts. But when they get used to it, things can be easier for them. When I think about my experience on this during my early days, it was indeed hard to understand all these concepts but I got a hold on them when I started using them.

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NFTs introduce Play2Earn feature

Play2Earn is the next big thing in the crypto world. People are given options to use their NFTs inside the game to earn rewards by playing the game. This will increase the demand for the game NFTs and a market is created for them. A normal game can be made a web3 game if the concept of NFTs is introduced inside the game. This brings an earning opportunity and even if someone would like to quit the game, they can sell their assets to someone else and earn their money for the time spent and quit the game.

Convert In-game assets to NFTs

Normal games usually become Blockchain games only with the help of this feature. The in-game assets are made NFTs and it is also made transferrable. When we play games like Dota 2 on Steam, we do get some items from the game. But those games are only for us and we don't get a chance to send those items to other players or trade them in the market. NFTs are the digital copies of those items and when they are in the form of NFTs, they provide a feature where it becomes tradable and is backed with some value.

Store data directly in NFTs

This is one of the biggest use cases I would say. In the future, the games would be built in such a way that all the data of the game stays inside the blockchain and the game developers need not create and maintain a separate database backend for the game. Already this is available in many blockchain games. One of the biggest challenges is that it is not fast enough for people to transact. Reporting also becomes a challenge if this becomes the case. Based on the need, people will then have to have a temporary database that would cache player data and NFT data. Otherwise, the games would start aiming to store the data for the player directly on NFT itself.

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Special in-game perks to specific NFT holders

There have been games that provide special perks to the users and players now and then. Some people earn a lot of money by collecting such NFTs. The biggest idea would be to have some special edition NFTs and sell them in the market for the players to hold them. If they hold these special NFTs, they become eligible for some special perks that are not available to other players.

Some games come up with this concept to fund their development. They initially make a sale and get the funding for the game. Later when the game is ready and is ready for playing, they start rewarding those people who were the initial investors of the game. This is how special perks are given to some special investors.

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