The NFT sector is a rapidly growing sector. However, it is still arguably in its infancy. Namely, the complete market capitalization of all the NFTs is still just $7 billion. For this reason, many NFT investors are searching for catalysts, something that has the ability to boost the sector. Many are challenged that video games will play the role of that catalyst. Specifically, metaverse games.
Video games or metaverse games and NFTs are considered as a match made in heaven. For one, gaming is a vast sector, nearly $175 billion. Just the in-game items are worth some $40 billion in contrast to the $7 billion market cap that is existing.
Moreover, NFTs solve a complicated issue for gaming, that of owning digital assets. More and more games enable users to purchase in-game items for their characters, whether operational or cosmetic. So naturally, these items can become non fungible tokens. As NFTs, the users can resell, loan their items, or can even transfer them outside the game.
Metaverse Games And NFTs
Games can turn into a boon for non fungible tokens in other ways also. In general, NFTs are still predominantly related to collectibles. So games can formulate a demand for these collectibles – and also boost their value.
For some games, these operations are long after the heyday of the game. For instance, Collectables like trading cards or baseball cards receive their value because of their link to childhood experiences. It is crucial to note that the demand for trading cards primarily came because of their use in card games.
However, their values do not have to be tied to their use value as in-game items. They can also turn into prized collectibles. That is because metaverse games are fun – and people wish to remember fun things. NFTs, of either in-game items, game art, or others, can remind them of the fun they already had. This nostalgia factor can boost the value of these NFTs by a lot.
In fact, last year, the values of most trading cards increased due to demand from collectors. But, on the contrary, players were not very satisfied with that, as they had to pay more for the cards they wished. Metaverse games, if they are good – can increase demand for collectibles, NFTs included. Yet, some NFT gaming projects portray more promise than others. In this section let us have a look at some of the very popular metaverse games list.
In terms of metaverse games, CryptoKitties was the catalyst for it all. The game was released in 2017 as the first game on the Ether blockchain. As unlikely as that may sound, it was also the first use scenario for the most evident innovative contract network. This metaverse game download is available on their official website.
The game itself is relatively easy. Users with two “Kittie ” NFTs could breed them – or make the latest ones. Not remarkable. Still, the game became so famous that it soon brought the Ether network to its knees. People were breeding so many of these cute non fungible tokens that they created severe network congestion. Prominently, pending transactions on Ethereum raised sixfold.
The game was so prosperous that it even inspired many copycats. The copycats basically swap cats for other animals or do some other slight alterations. However, it also inspired other projects that add value to the main one. For instance, KittyHats allows users to offer hats to their own Crypto Kitties. The game also inspired other players with a “breeding” feature in their own NFT project.
2. Axie Infinity
Another popular project is the game Axie Infinity. This NFT metaverse game began in 2018, attaining 2 million regular active users. Unlike most games, Axie Infinity claims itself as a play-to-earn game. As an outcome, the game is viral in the Philippines, where a promise of earning money online draws in many players. So if you are looking for metaverse games to make money, then this is the ideal one.
However, they are required to make a substantial investment to receive access to that chance. First, players are required to form a Ronin Crypto Wallet and deposit WETH crypto. Then, they are required to purchase three Axis to play with. Namely, the cheapest Axis goes for nearly $75, while the more expensive ones can cost hundreds of thousands of dollars.
Like similar online multiplayer games, Decentraland offers the community the focus of gameplay. The play was released to the public in 2020, after 5 years of development. Gathering inspiration from games like Second Life, Decentraland is all about self-expression. This is undoubtedly among the top metaverse games.
It enables users to customize their avatars and also interact with other players. Along with that, users assert a digital passport to handle their identity when creating their avatars. The game makes great use of NFT tech. For instance, users can purchase NFTs to customize their characters with clothes and also other accessories.
Along with that, NFTs also allow players to purchase digital land. Decentraland calls this digital land, LAND. And LAND may be a lucrative investment, as in-game land is finite.
The customization ability does not end there. Developers can also use scripting to formulate in-game apps, minigames, and also 3D scenes. Likewise, the scripting language supports the formation of objects, platform physics, and even sound development. Developers can use the ATLAS tool to navigate several districts with themes to find the best locations for their next project. This way metaverse games can easily boost the NFT sector.