Console, PC, and mobile gaming are the three market divisions that make up the worldwide gaming market; together, their combined revenue is in the hundreds of billions of dollars and is continually growing. Although this rapid growth benefits the industry’s established players, participants do not add much long-term value for themselves. After investing a significant amount of money on pricey consoles, computers, or mobile devices, players enter gaming environments that offer a tier-access user experience. Players must pay to access deluxe features and in-game content in these traditional games; thus, money only flows in one direction.NFTs are used on numerous networks for gaming and the advantages include:
Conventional in-game purchases are one-time, non-transferable investments trapped in a certain gaming universe. NFTs, on the other hand, in BattleSpecies give players ownership of their in-game items rather than the game designers.
The permanent records included in an NFT’s underlying blockchain network make it possible to demonstrate the scarcity of in-game NFT purchases, which is important to collectors who value rarity and authenticity. This public ledger which is decentralized is responsible for verifying each NFT’s identity.
Centralized servers host the majority of traditional online games. On the other hand, decentralized games can be found on other blockchains that serve as the foundation for other connected games. As a result, game assets represented by NFTs can be created to work together in a variety of settings. For instance, it is feasible for two games developed on the Ethereum network to share the same in-game resources, such as cars, armor, or even complete Sci-fi avatars.
Users typically lose all of their in-game purchases when a traditional online game closes. NFTs, on the other hand, are based on the blockchain itself and do not depend on any one gaming platform. Hence, regardless of what happens to the game, in-game purchases may be made, and sold, and new games can be created to integrate with an existing blockchain system. Blockchain-enabled assets in any game cannot be altered or copied due to the record each NFT permanently generates as it gets issued.