NFT is not a new keyword to the blockchain support community but it brings a new fresh air to game developers. NFT game is attractive to millions of player all around the world and in this article, we will introduce about NFT game and the play-to-earn game economic inside
1. What is an NFT Game?
Before we look at the NFT Game, let’s rephrase a bit about what NFT is. NFT stands for non-fungible token – a digital token that’s a type of cryptocurrency, much like Bitcoin or Ethereum.
NFTs are part of the Ethereum blockchain and they are individual tokens with some extra information inside them. The extra information allows the digital assets like JPGs, MP3s, video, GIFs files to become NFT assets.
Because NFT assets hold value, they can be bought – sold like other types of physical art and their value is set by the needs and demands of the market.
An NFT game is a game where the assets in games like characters, items, currencies are NFT assets. It means that they all have value, and players can buy or sell them by cryptocurrencies at market value to earn money.
The developers of these games preserve certain items as rare and unique in these games which in turn are being sold by the players as NFTs. This is why some blockchain assets are considered more expensive than others. These games are essentially called ‘play to earn’ games.
2. Play to earn Model
Game economic changes a lot from premium, which players purchase the game and play all the game – plays inside, to paymium, which players pay an amount of money and during the gameplay they can pay to get more items, and freemium, which players can play the game without pay anything in advance but they can spend money to get item while playing game.
“Play to earn” is the new game economy within NFT games which can help players to play to get items to sell to earn money.
You might wonder what the game economy is so that players can earn money while playing it. Let’s take a look at any NFT games to know about it. Firstly, to join in an NFT game, a newcomer has to purchase some game tokens which are NFT.
After that, they can play to upgrade their character or buy items which can be used in game by that token. Players can purchase more game tokens to use in game to upgrade their items or their characters.
Once their items become more valuable due to the game market needs, they can sell their items at a high price, of course by game tokens. It means that you spend time playing games, then sell the items in game.
To make this business model successful, the game itself has to attract more and more players to join the game – it means that the game concept should be good and keep players spending time, money to play the game .