Gaming and NFTs: The Power Couple of 2021
In 2021 gaming has entered the NFT space in a big way. Recognizing the immense potential at the intersection of decentralization, tokenization, and gaming, this year we have seen every major gaming publisher actively exploring blockchain-based use cases. Across the industry, we see traditional game publishers seeking partners to help them navigate the space. NFTs go together like peanut butter and jelly — and for good reason. Both sectors are about engagement, community, and participation.
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NFTs have become a powerful way for creators of all types to monetize their work. By creating digital assets with verifiable ownership, creators can sell directly to buyers, without having to pay layers of intermediaries (middlemen). In turn, buyers have an opportunity to truly own in-game assets. Before NFTs, this concept of true ownership was not seen within games. Now, we see this technology unlocking a myriad of opportunities for developers/creators and players.
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Gamers, meet NFTs
In 2020 alone, gamers spent 100 billion hours watching gaming content on YouTube. The gaming industry is a seriously big deal, but it has flaws.
One of the biggest issues with gaming is that it’s centralized. Gaming platforms like Steam, Origin, and Blizzard are huge companies with tons of power. When players buy in-game assets, they don’t truly own the assets, which are stored on the platform’s servers.
Further, the profits from selling these assets don’t go to the creators, who are often independent artists. Instead, they get split up between platform owners and middlemen. This is where NFTs come in. By creating a decentralized marketplace, creators can take back some control over their work and earn money directly from their fans.
NFTs give creators new ways to monetize their work by allowing them to create digital tokens that represent ownership in their game or virtual item. This allows creators to create digital scarcity, which drives engagement and helps build a community around their game.
It also gives creators a new way to sell items without having to worry about managing inventory or shipping physical goods. Blind Boxes is using these ideas to create a gamified way for creators to monetize their work, enabling artists, brands, and gaming companies to benefit from the rise of NFTs.
Top 5 NFT games
Over the past year, NFTs have become a hot topic in gaming. To better understand the rise of NFT games, let’s look at some popular examples.
1. Axie Infinity
Axie Infinity is an NFT blockchain game that uses collectible digital avatars as in-game assets. Players can buy, trade, and breed digital avatars called Axies on the platform’s marketplace.
The Axies are unique virtual creatures that have their own genetic imprint. Players can set up a team, and breed and trade Axies.
To play the game, you first need to purchase 3 Axies. Each Axie has its own rarity level which determines how valuable it could be when sold on the marketplace. You can also use your purchased Axies to participate in PVP battles where you can win more Axies.
2. Splinterlands
Splinterlands is a trading card game that uses blockchain technology to create a unique experience for players. The game is inspired by the likes of Pokemon trading cards.
Recently, Splinterlands became the most popular blockchain game. Players buy, sell, and rent different types of trading cards to earn a native token, called Dark Energy Crystals, which can, of course, be re-sold for real currency. No crypto knowledge is needed to play this addicting game, which has helped drive its tremendous success.
3. Gods Unchained
Similar to Splinterlands, Gods Unchained is a card game that uses NFTs to reward players for their in-game actions. Gods Unchained bills itself as the trading card game that “pays to play,” as players receive the native GODS token for playing.
Earlier this year, the Gods Unchained team reported that over 2.5 million games have been played, with over 20,000 monthly players.
4. The Sandbox
The Sandbox aims to be an immersive metaverse where users can build and trade virtual assets. The Sandbox is a voxel-based gaming metaverse that allows users to create and monetize virtual assets.
Players will use $SAND, the main utility token, to buy and sell virtual land and assets. These assets can include games, dioramas, art galleries, and so on.
5. Battle Racers
Battle Racers is a blockchain-based arcade racing game on Decentraland. Players buy car parts and weapons to create a Battle Racer, which they race against other players and can tokenize to earn exclusive bonuses.
Ultimately, gaming and NFTs are two booming areas of technology. By combining the two, we can create a whole new world where creators get to control their work and fans get to interact with it in new ways.
About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and to become leaders in decentralized global economies while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers get to experience the thrill of time-released white-labeled blind box series, where a collector can draw from and unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment sectors. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke blind box collections that feature top-tier talent and emerging artists and designers from around the world.
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