Online games and blockchain: a unique experience at the dawn of a …

NFTs, or non-fungible tokens, are designed to be one-of-a-kind digital assets. While basically all items and goods are replaceable (i.e. “fungible”) to a large extent, the overall value proposition of an NFT is that it is a unique digital object in its kind, impossible to copy. The application of blockchain tools has opened the door to a whole market of non-copyable digital objects. As one of the most reputable NFT trading platforms put it, NFTs are essentially “digital certificates stored on a publicly verifiable distributed database”. The information in this “smart contract” is what makes an NFT unique.

Today, it seems like everything from entertainment to digital authentication has been influenced by the NFT trend. But by far, the industry most affected by its impact remains the field of online games.

Taking the game to new virtual heights?

With the proliferation and development of new technologies, the use of NFTs in online games has become an international phenomenon, with a collective value estimated at several hundred billion dollars. Anyone in the sphere of high tech or “cryptocurrency” communities have probably heard of some of the integrations of NFTs into online games. These include creating things like things, characters, and even places in a game’s universe using NFT technology.

Introducing new weapons or new character costumes to an already long list of items is not the true innovation of NFTs for players. As NFT enters its next phase, we will be able to take the immersive gaming experience to a whole new level.

The Metaverse and NFTs

Although there are several definitions of the “Metaverse” trend, all of them converge around the central theme: redefining our digital experiences by amplifying the immersion factor. The underlying technology of NFTs already plays a huge role in the development of Metaverse-like interactive platforms and programs. In this digital environment, NFTs integrate with existing virtual reality (VR) and augmented reality (AR) technologies and are thus able to regulate the entire digital space.

As a result, NFTs can represent ownership of anything, including virtual avatars, real-world properties, and in-game assets. In immersive Metaverse-based games, avatars explore the market closely, examine digital products and select the product of their choice. These avatars can be “tokenized” via NFTs and turn out to be held in multiplayer universes with thousands of players. Combining this, AR technology has opened up a whole new realm of possibilities for social interactions via online gaming. Thus, replacing emails and other text messages or chat, friends from the same network will be able to “meet” in the world of the game via their respective avatars.

Another fascinating and emerging theme is the real-time collaborative creation of “NFT art” in an immersive AR environment. Thanks to a wide range of game-compatible AR tools, users can, as mentioned before, “meet” within the metaverse’s digital interface and work together on projects as diverse as they are varied, all NFT authenticated, which will then become an integral part of the world of online gaming.

As a result, this in turn provides a venue for monetizing in-game NFT creations. cryptocurrency or even “hard cash”. NFT is no longer a digital pipe dream – it’s a reality. And investments from globally recognized companies such as JP Morgan and Samsung demonstrate the incredible potential of immersive experiences powered by NFT innovation. Unlike the multitude of players on the market taking advantage of the incredible progression of NFTs, some companies take the part of involving the players in the artistic creation of the game, such as these few examples of online games based on the universe of NFTs :

Axie Infinity is a Pokémon-style online game where players compete for special tradable tokens, now one of the first big crypto games in terms of new players. Revenue generated by the Axie Infinity Protocol has increased by 85% in recent months, reaching $364 million in August 2021.

KoKoSwap is one of the companies leading the way in online game integrations of NFTs. Designed as a fully functional digital ecosystem combining decentralized finance (DeFi), NFTs and online games.

By expanding its in-game immersion capability and harnessing the potential of NFTs, KokoSwap seems to be achieving some promising goals. The platform acts as an ideal meeting place for players and developers on this network and allows to combine gaming, investment and artistic creation. For example, the KokoSwap ecosystem includes role-playing games based on NFT platforms, allowing players to “tokenize” their assets through the game, but also to meet other players/creators/artists and to collaborate collectively on specific digital art projects.

Launched in 2021, DeFi Kingdoms (DFK) remains one of the novelties in the universe of NFT games. Based on a decentralized finance protocol with a rather medieval design. Which is reminiscent of popular games from the 1990s, like Age of Empire. During the month of February, DFK can be proud of nearly 160,000 new players who got involved in the management of this kingdom integrated into the blockchain in order to make it prosper, as a community.

The transactions generated by DFK amount to more than 1.68 billion dollars in the last few months, which shows not only the interest of the players for these new models of games but also the real industry that has been able to produce the NFT in recent years.

The NFT universe is only at the dawn of its potential, the best is yet to come

The use of NFTs in online games will continue to open up new vistas for gamers, artists and creators, producing possibilities never imagined just a few years ago. Immersion within the “metaverse” is the next goal of the high tech world and it’s a safe bet that the innovation of NFTs will help achieve this goal.

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Online games and blockchain: a unique experience at the dawn of a …

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