Gamers Shouldn’t Fear Game NFTs – BeinCrypto

The integration of NFTs into video games is still in its early stages, and there is great potential for positive change, believes Jonathan SchemoulCEO ofAleph.im.

At the end of 2021, Ubisoft became the first major gaming company to announce integration game NFTs. These tokens called “Digits” have been launched in beta for the computer version of the game “Tom Clancy’s Ghost Recon: Breakpoint”. Since then, gamers have been able to purchase NFTs of unique items like helmets, pants and guns and then use them within the game. In collaboration with Aleph.im, Ubisoft has also been working on the integration of NFTs in console games.

Why do some gamers reject NFTs?

Reactions to this announcement were quick and some were very negative. Indeed, many gamers are concerned that the integration of NFTs will lead to skyrocketing prices for game items and the creation of a “pay-to-win” environment. Others fear that this use of NFTs will increase centralization and give market monopoly to large companies.

These concerns are not, however, unwarranted. A few years ago, when companies tried to integrate more microtransactions and other paid features into their games, they didn’t consider the needs of gamers. As a result, many gamers have felt left out or even overwhelmed by the rapidly changing video game industry.

Some studios like Team17 even have abandoned their game NFT plans after receiving negative feedback from employees and gamers, while Ubisoft was the subject of strong reviews.

The Benefits of Integrating NFTs into Video Games

However, it is important to keep in mind that the integration of NFTs into video games is still in its early stages and there is great potential for positive change. For example, the use of NFTs could offer gamers ownership and the ability to transfer their gaming assets. It could also give them more control over their gaming experience and strengthen their relationships with the gaming communities they belong to.

Suppose, for example, that the trading of virtual items in video games is a huge industry of $50 billion. If we could take a large chunk of that amount and redistribute it to gamers, we could profoundly change the way we view video games and their value. In-game items could become more than just small digital props; they could convert into real assets, with real value.

Game NFTs can fix some issues

It’s also worth noting that NFTs could help address some of the gaming industry’s most pressing issues, including the paucity of secondary markets for gaming assets and concerns over microtransactions. For example, if developers integrate NFTs into their games, they could create a more direct link between the value of game items and the game itself. This would further encourage users to play and support developers, while providing a more transparent and fair secondary market for gaming assets.

Indeed, integrating NFTs into video games can result in a fairer and more sustainable industry for all players involved. On the one hand, players will have more control over their gaming experiences and will be directly compensated for their time and effort. On the other hand, developers will have a new tool to create more attractive and rewarding games, while generating more revenue to reinvest in their projects. Finally, the industry will be able to offer a playing field with fairer rules, where the value of virtual assets is more closely tied to the game itself.

Additionally, the use of gaming NFTs could help decentralize the gaming industry, which will give smaller developers a chance to enter the market. This will create more competition and more accessible prices for gamers.

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The future of NFT games

In the movie Ready Player One, Ernest Cline tells the story of a world where the only escape from grim reality is the virtual world OASIS. In this world, people can be whoever they want and do whatever they want. OASIS is indeed a place where people appropriate their virtual personalities, and shaped by the interactions between users.

It may sound like science fiction, but it’s not that far from reality. The integration of NFTs into video games indeed has the potential to create a similar world, where players have true ownership of their game assets and the ability to shape the game environment as they see fit.

Adoption of non-fungible tokens is still in its early stages. However, there is already a burgeoning ecosystem of projects and platforms exploring this new technology. For example, Decentraland is a virtual world based on the Ethereum blockchain, where users can buy, sell or trade virtual land NFTs. More than $500 million of “virtual real estate” has been sold by projects similar to Decentraland.

Other projects are also testing different ways to use NFTs in video games. For example, The Sandbox is a content creation platform that allows its users to monetize their 3D voxel creations by turning them into NFTs.

Create more value with dynamic NFTs

Dynamic NFTs are a relatively new and innovative concept that increases the usefulness of NFTs within games. These new non-fungible tokens allow attributes to be changed and evolved (i.e. NFT metadata) depending on player activity. They thus offer a level of customization and evolution that traditional NFTs simply cannot compete with. Aleph.im was the first company to integrate dynamic NFTs in mainstream games. That said, other projects like Chainlink are also doing groundbreaking work in the segment of dNFT.

Using Aleph.im’s technology, NFT metadata transfer from one player to another. Thus, users can get information about gamers who previously owned their NFTs. This builds community and creates a connection that would not be possible with traditional NFTs. Additionally, Chainlink allows dynamic NFTs that connect to oracles toextract data from the real world.

NFT Games

NFTs in Gaming: Conclusion

The benefits of using NFTs in video games and virtual worlds are well established. As the technology matures and new projects emerge, we’re likely to see even more innovative uses for NFTs in games.

So what does the future hold for gaming NFTs? It’s hard to say on that, but there are reasons for optimism. The benefits of non-fungible tokens are obvious, and there is already a burgeoning ecosystem of projects exploring different ways to use them. As more people begin to understand and embrace this new technology, we’re likely to see even more amazing use cases for NFTs in gaming and many other areas.

About the Author

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Jonathan “Moshe” Schemoul is the founder and CEO ofAleph.im, a decentralized cross-chain computing and storage network. Prior to founding his startup, Jonathan worked as a Community Developer at NULS Blockchain. He has also worked as an independent developer and software architecture engineer for several banks and startups. Jonathan and his team dream of revolutionizing the web with decentralized cloud computing and Web3 infrastructure.

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Gamers Shouldn’t Fear Game NFTs – BeinCrypto


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