Once upon a time, gamers needed to break the bank to purchase games, consoles, and in-game assets. But with the introduction of NFT games, the situation has turned upside down. NFT games have started to create a huge buzz in the gaming industry by enabling players to monetize the time and effort they spend on the game. Many large gaming companies and corporates have started to develop NFT games. The most recent example is Sorare, a french gaming company that has signed an agreement with NBA to develop an NFT game. NFT games allow monetization for both players and companies. This unique gaming model has intrigued millions of players around the globe. So let's dig deeper into NFT games and how NFT game development can be a lucrative business opportunity.
NFT games
NFT games work on a play-to-earn gaming model that provides players with NFT in the form of in-game assets and rewards. Players can completely own these NFTs and trade them in marketplaces. NFT games integrate gaming with finance which has introduced a whole new space known as Gamefi, which provides opportunities for players to earn while they play.
The NFTs earned in the game can be avatars, skins, accessories, pieces of equipment, guns, cars, tracks, cards, or any in-game assets. Players can swap or trade these assets with other players to earn incentives.
Features of NFTs in gaming platforms
Transparency: With NFTs and tokenized digital assets ensures transparency. This means that users can see all the in-game transactions on the blockchain. This provides security and immutability.
Rarity: We all know that NFTs are unique and distinguishable. Each NFT won through the game will be rare and one of its kind, which is the reason for its popularity and growth.
Smart contracts: Smart contracts in NFT games eliminate the need for any third parties and therefore avoid any hacking and cyber attacks on the game.
Liquidity: Quick tradability provides high liquidity for digital assets. This means digital assets can easily be converted into fiat currency at the market price.
Benefits of an NFT game
Some of the benefits of NFT games have gained popularity among players worldwide.
Some of the features of NFT games that benefits players are:
Players can have complete control over the digital assets they've won and can transfer them whenever they want
There is no central entity governing the game. NFT games provide a fair and democratic gaming platform for players.
NFT games allow players to vote on the further changes that are to be made in the game. This gives the players an opportunity to have a voice in the game's further development.
The most obvious benefit of NFT games is that they allow the players an opportunity to monetize the time and effort they spend on the game.
Players can use the assets they've earned on another similar game built on the same blockchain.
How to develop an NFT game?
If you want to develop an NFT gaming platform, here's a simplified roadmap for your project. Make sure you give priority to the following steps:
Ideation:
Plan and ideate your game. Decide on your game's genre, storylines, ecosystem, the platform on which the game works, and gameplay. Draft the overall plan of your game development and how it must look. Draft a game design document with development techniques and technical specifications.
Development :
Once you're done with your pre-production work and research, you can start your game development. Design your characters and environment with modeling techniques.
- Choose the appropriate blockchain on which you wish to build your game.
- Start working on the front and back-end development process.
- Setup a crypto wallet on the platform for the trading of cryptos and NFTs
- Develop smart contracts for the platform. The smart contracts are responsible for the NFT movement, cyber security, and transaction modification.
- Work on the back-end process of integrating all of the game's data, functions, and architecture in a single system.
Testing and Launch:
Run multiple tests on the gaming platform to ensure that the game has no bugs or errors. Run Unit, Alpha, and Beta tests on the platform, to resolve all the issues with the game before publishing it.
Once you are done with the testing stage, the game is ready for its launch. Once the game is launched, make sure you continuously update the game for long-term success of the game. Start promoting your game before it is released and create hype around it.
How can NFT game development be a lucrative business opportunity?
The gaming industry has always been a money-spinning industry; NFT games have just raised the bar with their unique features, which benefit both the players and the developers. If you're an entrepreneur looking to develop an NFT gaming platform, you're about to get the golden goose. Here's why:
Transaction fee: You can levy transaction charges from players whenever they swap or trade NFTs. With Millions of players trading NFTs, it can be a high revenue-generating stream for your game platform.
Download free from App Store: Game owners can profit from the download fee in the Play store and App store.
In-game purchases: In-game purchases from players is a consistent money source for the game owners. You can also conduct special events and release special game accessories to increase your revenue stream.
In conclusion, NFT games have opened up many new opportunities for players and game developers in the past few years. Axie infinity, an NFT game, has generated $3 billion since its launch in 2018. NFT game development is the way to go if you want to strike it rich in a short period. But, developing an NFT game without experience and professional help can be tedious. It is recommended that you hire an experienced NFT game development company for your venture. "A day late is a dollar late" get started with your NFT game development now!
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