After the cryptocurrencies around Bitcoin and Co., NFTs are the latest trend based on blockchain.
They could also be used in the gaming world.
NFT, Bitcoin, Blockchain: These are three words that initially seem daunting to most people.
The systems behind it are quite complex.
Such technologies could possibly play a major role in video games in the future.
Without going too deeply into the matter, we would like to explain in this article how NFTs could be used in games.
NFT and blockchain: what is it anyway?
What is blockchain?
In simple terms, it's a network of computers. When a transaction is carried out, it is registered and validated by all computers. This makes blockchain very secure, as every transaction can be tracked.
What is an NFT?
The abbreviation stands for “Non-Fungible Token”, which means something like “non-replaceable object”.
These are digital objects that
receive
a
unique digital signature
via blockchain technology
.
This means that this file cannot be copied as often as required, which can greatly increase the value for the "original".
Taking a screenshot of an NFT image and sharing it would therefore be of no use.
NFTs can be digital images, audio or video files - basically all digital files.
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How are NFTs used in games?
As
VentureBeat
reports, some developer studios have already emerged that rely on blockchain and integrate NFTs into their games. These include Animoca Brands, Mythical Games, Dapper Labs, and Sky Mavis.
But how exactly do NFTs work in games?
The basic idea is that
digital content is integrated into games as NFTs
.
When players unlock or buy in-game items, for example, they actually come into possession through NFT.
This allows them
to sell
the
content directly to other players
.
There is potentially a huge market here where players spend a lot of time and then resell their in-game items.
The developers would claim a small part of such in-game transactions, which makes it a profitable concept for them too.
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The Risks of NFTs in Games
As is the case with
cryptocurrencies
,
the underlying value behind NFTs is extremely volatile
- that is,
it can fluctuate widely
. Because they're primarily based on a single game or have a limited user base, random events can easily cause the value to fluctuate widely. In addition, NFT in-game assets are only valuable as long as there is interest in them. If the game loses popularity and is consequently discontinued, there is a risk
that the entire investment will lose its original value
.
NFTs are still new territory and many people are still rather skeptical.
It is clear that this will open up a lot of new opportunities for games - the future will have to show what they will be and whether the topic will prevail.
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