NFT Gaming — Alternative Income Streams
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In essence, Non-Fungible Tokens (NFTs) are uniquely designed, one-off digital assets that can’t be duplicated, copied, or tampered with. Since most NFTs are registered on blockchains, their ownership can be publicly verified, and even transferred, just like with conventional crypto tokens. This means that NFTs can be traded, so owning one could lead to proceeds upon selling.
NFTs have countless utilities, but one of the most popular ones is unquestionably NFT Gaming. This disruptive concept is actually quite simple at its core: some, if not all in-game items, characters, and anything in between that players can own are turned into NFTs. This means that securing these assets actually gives players ownership of them outside the game, too.
Within the gaming community, streamers' thoughts and opinions hold incredible weight. Popular streamer Shroud, argues that NFTs are, in fact, not really thought out, and that bringing them into the gaming space is too early at this stage.
While this could be a valid point, others who disagree claim that despite some projects being unable to deliver an experience that is up to par. There are legitimate initiatives out there that actually manage to integrate NFTs into their gameplay in a completely seamless, yet powerful way. That is, the ability to monetize in-game results and earn by playing, which is the most universally loved feature of such programs.
Play-to-Earn (P2E) Examples
How can one earn by playing? FireZard is a prime example of NFT-based Play-to-Earn (P2E) games. In short, FireZard is a Card Trading Game centered around Dragons. Players have to build teams from their Dragon Card NFTs, and use their skills to fight against their peers and progress through the game, while earning BNB token rewards for their assets. The ecosystem also presents its own cryptocurrency called $ZARD, which will provide numerous benefits to holders, such as incentive framework, preset floor price, staking options, and many more. Meanwhile, their in-game currency, $FLAME, can be used to open up card packs and claim new powerful dragons.
That being said, the Play-to-Earn (P2E) aspect of the game is quite simple: players need to collect NFT cards (which have BNB rewards attached to them), trade cards with other players, and stake $ZARD tokens. $ZARD can then be exchanged for other cryptocurrencies, and eventually for fiat (e.g., USD, EUR, CAD) currencies.
Some argue the concept is too early to be globally adopted, others state that it has already allowed thousands to earn a decent income by simply playing, the idea is ready for the masses. In Argentina, thousands have already started using P2E models as additional income streams. The surge in popularity stems from the countries’ inflation issues, wearing down the value of individual salaries.This is just one example of the potential NFT games have to offer, on a much larger scale it could help people all around the world. While both sides of the coin are completely valid opinions and points of view, one should stop to think which one holds more weight in the long term.
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