Expensive monkey images that you could also acquire using a screenshot. That's the common perception of NFTs. Or, those who follow a disgraced streamer associate NFTs with swastikas and fraud.
That NFTs But the fact that they offer absolute added value, especially for gamers, is still unknown to many. They can be like the pineapple on a pizza… We'll explain this example in a moment.
A thought experiment
Who's responsible for making your pizza crispy and delicious? The pizza maker. Below, we compare game publishers to pizza makers who should prepare good pizzas—or rather, games—for us.
In recent years, some game publishers have really let the pizzas burn, or made it so we have to add and pay for each topping individually. EA is one negative example, who with FIFA and the packs in the game have made the pizza almost inedible.
It is virtually impossible for players to have any say in the direction a game should take (Of course, there are exceptions.), and which direction the publishers take. This is where crypto, or rather NFTs, come into play!
For example, by acquiring an NFT, the player buys:
- A unique game character
- Access to the game
- Part of the game
- An investment in the game and the team behind it.
This means that every player is simultaneously a part of the game and owns a part of it. Consequently, they can help decide the direction the game takes and benefit from it! The majority of players can therefore decide how "the pizza" should be topped.
The NFT that the player secures is unique. Accordingly, the NFT increases in value as the game becomes more popular. This means that players who believe in a game or publisher from the start get a piece of the pie, or pizza, right away. This can be a game-changer, especially for small development studios. This point will be explained in more detail below.
The entire process is completely transparent because it's built on the blockchain, where all transactions are publicly viewable. This transparency also offers improvements in other areas. For example:
Donations using crypto are more transparent and faster than traditional bank transfers. The transaction ID allows anyone to publicly verify that the full amount of the donated money has been sent to the correct address of the aid organization. Cryptorforukraine.net, for example, demonstrates how crypto is currently being used to provide humanitarian aid.
What can an NFT do for small developers?
NFTs in the gaming industry can be especially helpful for indie studios, allowing them to release a fantastic game without having to sell themselves or their idea to major publishers. And all fans of the studio or the game benefit from being behind the project from the very beginning. Fans participate in the success as their NFTs increase in value. These can then be sold for a profit once, for example, the game has been completed.
Can you make money with gaming?
Play-to-earn is a principle that currently seems very promising. How does it work? As an example, let's look at... FIFA approach it. You can see in our thought experiment at FIFA Exchange the coins you've earned for Euros and actively profit from playing.
Games like offer this possibility wizardiaIn this game, owning a character and having access to the game grants you a share of the revenue generated by the game. Actions within the game, such as purchasing a new weapon, are subject to transaction fees payable in the in-game currency. A portion of these fees is then distributed among all players, or rather, all character owners.
Conclusion
To return to the headline: NFTs and gaming are like pineapple on a pizza… Potentially really good! But for that to happen, publishers especially need to wake up, recognize the potential, and really get the games right. It will certainly take some time before that happens. But those who follow the developments now can get in early enough to benefit and are sure to have a lot of fun.
Guest post by cryptospacefleet
