How Gaming Boosts the Crypto Space
This year, the viral phenomenon of NFT gaming rings the bell to every crypto enthusiast or avid gamer. Meanwhile, experts claim that NFT gaming is one of the main driving forces of the whole crypto industry. To see how it happens, let’s check the brief history of NFT gaming, the main reasons for its popularity, and the way it changes the classy crypto landscape.
A Brief Inquiry into NFT Gaming
The idea of NFT gaming is pretty old: probably, the 2000s gamers used to participate in gaming tournaments, invested in their enamourment, and used such suitable platforms as Steam. However, gaming still was not profitable and fans’ spendings were times bigger than their profits. The thing was that games were centralized and all the assets belonged to the platform owners.
In 2008, the crypto industry started with Bitcoin. This revolutionary invention enabled people to keep their money in a decentralized way and, surely, attracted numerous gaming enthusiasts who attempted to make the first blockchain-based games. Next, in 2015, we welcomed Ethereum, and, a few years later, in 2018, the first popular NFT gaming project, Axie Infinity, where users can buy, sell, breed, and battle NFT creatures.
The success of Axie Infinity inspired thousands of game developers and investors who realized that gaming can finally be profitable, decentralized, and accessible. The new project kept on developing and bringing inspiring revenues. Thus, the NFT gaming trading volume reached $2.3 billion in 2021.
Reasons for Popularity of NFT Gaming
To understand how NFT gaming boosts the industry, we need to define its main perks that make this field incredibly attractive to players, lenders, investors, and creators.
Though game assets tend to be pricey, NFT gaming is still open to everyone who has internet access. The thing is that players can join guilds and work as scholars with fixed salaries or rent NFTs and play on their own. The first approach enables gamers not to spend a penny on playing, meanwhile, the second one lets them earn as much as they can and experiment with different games because they are not obliged to use the same assets all the time and thus, can switch to more pleasing and profitable projects.
The crypto industry itself has always been loosely related to fun. Meme coins, amusing NFTs, and local jokes have always been a part of this community. However, money is money, so, nobody, even digital art collectors, has ever regarded the field as a source of pure joy and entertainment. So, though the crypto industry hasn’t been labeled as something dull, it still used to have a flavor of seriousness.
At the same time, video games in all their shapes and formats have always been about entertainment. Skeptics even tended to cauterize gaming as an addiction-like idle and non-profitable occupation. Hopefully, NFT gaming has refuted all the negative assertions about the both crypto and gaming industries by combining the concepts of financial success and sincere playing cheer. Now one can dive into their favorite occupation without thinking about wasting time or sources. Contrary to this, players know that their time and efforts will be impressively rewarded.
The world of NFT gaming offers multiple game genres and modes. For instance, one can try sandboxes, breeding games, collectible games, strategies, action games, and many more to explore. To learn more, you can check the 25 most popular genres in our guide on NFT game types.
This diversity attracts thousands of players daily, boosts market competition, and, consequently, leads to the development of digital technologies, and the popularization of the crypto industry.
Designed with the help of blockchain technologies, NFT games are secure and confidential to use. Players’ data, such as real names or locations, cannot be traced or hacked. Next, no assets can be stolen even during the lending and renting processes. All you need is to use a reliable platform.
This year, the concept of the metaverse is regarded as one of the most popular ones. Meanwhile, NFT gaming boosts its development because any reality is materialized with the help of economics and money, things that are the organic products of this industry.
Surely, the main reason for NFT gaming’s avowal is its profitability. The constantly growing industry is beneficial for all enthusiasts worldwide. Players, lenders, developers, and investors unite in the community where everyone is likely to make a living. For instance, we all know about the COVID-19-based NFT gaming boom in the Philippines, where it became the most popular occupation.
As we’ve already mentioned, NFT gaming embraced the crypto industry with fun and made it accessible to everyone in the world. Next, it attracted creatives and investors, who boosted its economy. According to The Blockchain Game Alliance’s report, 68% of BGA members admit that the crypto growth was related to the NFT gaming sector.
Meanwhile, this is only the beginning: the current $2 trillion crypto crash and global economic problems change the attitude to investments and jobs. Now gaming seems to be one of the most secure ways of earning. Firstly, NFT assets don’t lose in value because the NFT gaming economy is shaped online by players upgrading their assets daily. Secondly, while people are increasingly losing conventional jobs, they are seeking online options that can fit their skills and interests, and, hopefully, NFT gaming meets their needs.
Though NFT gaming is still regarded as something innovative, it is already a game-changing sector of the crypto industry. The constantly growing number of its fans, impressive profits, and boost in technologies prove it. We believe that NFT gaming is sure to have a sound future, so why not become its part right now?
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