Future of NFT gaming

Steam has decided to ban the NFT games

 

Steam is a company that sells and distributes video games digitally. It is one of the biggest leading gaming distribution services in the world. And after that comes Epic games. Steam recently banned NFT games or games that involved the use of cryptocurrencies. If you do not know what NFT games are then you can check my last blog post, it tells you what NFT games are and which games are on top currently. The link to my blog can be found here!

 

A screenshot of Steam app

Now for Steam banning these games could be a huge mistake for a number of reasons like:

·         Since last year NFT games have been on the rise. NFTs have grown from 14 million in 2020’s first 6 months to over 2.5 billion in sales in 2021’s second quarter. There is more growth to come.

·         These games are attracting a lot of people. Coca-Cola, sports games, a game by Louis Vuitton, etc. they all have collectibles in the games which can be traded with other players. Thus attracting many people.

·         Big gaming companies like Ubisoft, EA games are planning to develop blockchain games. These companies will also attract people to play the NFT games.

 

NFT Games

Banning them could be a big loss for Steam. The reason Steam banned them is they cannot trade NFTs with anyone. Their main goal is to sell games and give a portion of the profit to the game developers. Having NFT games on their domain was not resulting in a profit. But I believe they could have easily found a solution for that but I could be wrong.

 

It is a major selling point of crypto but it also allows for disintermediation of anything virtually. It creates benefits for users that no longer want the middlemen taking the cut. For instance, AAVE’s DeFi protocol allows p2p lending and borrowing. You can get a loan on their website at low rates with no credit check than what you would have got from a bank and you can pay it off without worrying about late fees. You can also loan your assets out instantly and you have 0 counter-party risk and you can get it back anytime you want. You loan your money to a bank and you get 1% maybe, you loan it to AAVE you get 10 times that.

 

NFTs present countless benefits to virtually every industry on the planet and every person as well. Gaming and art are drops in the bucket for what NFTs will be used for. In a few years everything will be connected to NFTs to some degree, the incentive is too high to not use them. People just don’t understand them yet and it will take a little time for them to figure it out. Businesses will figure it out very quickly.

You can read the article about steam banning the NFT games here.

 

What are your opinions on this? Comment below.

What Are NFT Games? And Top 5 NFT Games To Play in 2022

 What Are NFT Games and How Do They Work?

What are NFTs?

A Non-Fungible Token (NFT) is a digital, cryptographic token on the blockchain representing a unique item. An NFT has many use cases. It could be a digital asset in a game, a collectible piece of crypto art, or even a real-world object like real estate. NFTs have solved the long-standing issue of creating decentralized digital collectibility and ownership in a "copy-paste" world.

An NFT is non-fungible. This property means each token is unique and cannot be swapped identically for another token ever. You can trade 1 BTC for another 1 BTC equal in every single way. With an NFT, this is impossible, even with NFT art released in a series with multiple versions. In this case, each NFT's metadata will differ, just like you would have in a numbered series of prints.

How do NFT games work?

NFT games are different from just holding crypto-collectibles in your wallet. An NFT game will use NFTs in its rules, mechanisms, and player interactions. For example, a game could represent your unique character or avatar as an NFT. Digital items you find while playing the game could also be NFTs. You can then swap or trade your NFTs with other players for profit. A newer, play-to-earn model also allows you to generate income from NFT games which we'll discuss more later.

So how do you take NFTs and technically implement them into a game environment? To swap, create, and implement NFTs within a game, developers create smart contracts that make up the rules for the NFTs used. Smart contracts are self-executing pieces of code stored on a blockchain.

Top 5 NFT games

1. AXIE INFINITY

Axie Infinity is probably the most popular NFT game around at the moment. Like some other games here, this is a title that uses NFTs to enhance its gameplay. The title is similar to games like Pokémon, you have to collect fantasy monsters that you can breed or trade. The game’s monsters exist as NFTs. You can sell them within the game; marketplace alongside training them up or breeding them.

Axie Infinity is an impressive use of NFT technology, and it has amassed an impressive following. It uses AXS and SLP, two Ethereum-based cryptocurrencies and by July 2021, the value of the NFT collection in trades is estimated at around $50 million.

Although only available on Android, Axie Infinity is one of the most unique games to use NFTs.

Axie Infinity

2. SORARE

Sorare is another one of the top 5 NFT games currently running. It is a title that is based around fantasy football. As with any fantasy football, you put together a team based on your favorite players and get rewarded based on how they perform in real-life games. The difference here is that your team is represented by NFTs rather than just picking them out. This gives this one of the best NFT games a bit of a different feel.

Like with Axie Infinity, this game has an element of collection at work too. You need to collect and seek out the cards for players you want. Sorare has recreated the experience of collecting football cards, which makes it a unique game.

Sorare

3. EVOLUTION LAND

Evolution Land stands out on this list of the top 5 NFT games as it has a bit of a different approach. This game is more like a city builder game, where you can buy land, build buildings, and generally expand your space. Each of the continents on the game exists on a different blockchain. You’ll also need to use units called apostles which need to be collected to find unique units with expanded attributes. Evolution Land still has some elements of the collection, but the game stands out amidst the amount of Pokémon styled games that use NFTs.

Evolution Land

4. CRYPTOKITTIES

CryptoKitties is a pretty fun game that is based around Ethereum blockchain. It has you collect various cats which you can breed to get more. There are side tasks here like puzzle-solving that helps you to progress further in the game. This game is quite similar to a few others on here with a Pokémon style approach to the NFTs in-game. It is likely seen as the godfather of most NFT based titles due to its massive appeal and first introduction to the concept of unique digital asset trading and blockchain systems to the general public.

The game has seen a steady decline in popularity and player appeal due to this increased attention. As the media frenzy flocked to cover CryptoKitties and the innovative systems it implements, the appeal and overproduction of kittens threw the market out of whack and made the game unappealing to many.

Cryptokitties

5. F1 DELTA TIME

F1 Delta Time is an Ethereum blockchain-based game developed by Animoca Brands in partnership with motor racing championship Formula 1 ®. The game utilizes both Non-Fungible (NFT) and fungible tokens for its collectible items that can be used in its Racing Game. 

The Hong Kong-based multinational Animoca Brands isn’t new to the gaming industry; it has created numerous popular games and is the exclusive distributor of CryptoKitties in China.

F1 Delta Time