What are games involving NFTs known as?

Introduction

Non-Fungible Tokens (NFTs) have revolutionized the way we interact with digital assets, and their applications extend far beyond just collectibles. In recent years, games have emerged as one of the most promising areas for NFT adoption, offering players a new level of engagement and ownership over in-game assets.

Popular Games Involving NFTs

CryptoKitties

CryptoKitties is a blockchain-based game that allows players to collect, breed, and sell unique digital cats. Each cat is represented by an NFT, which contains information about its genetic makeup, rarity, and other attributes. Players can use their cats to compete in breeding tournaments or sell them on secondary marketplaces for profit.

Decentraland

Decentraland is a virtual reality game set in a decentralized world that runs on the Ethereum blockchain. Players can create their own avatars, build and decorate homes, and participate in various games and activities using NFTs as currency and assets.

Axie Infinity

Axie Infinity is a turn-based strategy game that combines elements of Pokemon and collectible battling games. Players collect, breed, and battle Axies, which are represented by NFTs, to earn in-game currency and rare items. Axies can also be used as pets, allowing players to customize their digital companions with unique accessories and abilities.

Rarible

Rarible is a marketplace for buying and selling NFTs, but it also features several games that allow players to create and sell their own NFTs. Games include “Art Blocks,” where players can create and sell original artworks as NFTs, and “Fantasy Football,” where players can collect and trade fantasy football teams using NFTs as currency and assets.

Benefits of Games Involving NFTs

Ownership and Scarcity

NFTs offer players a level of ownership and scarcity that is not possible with traditional in-game assets. Each NFT is unique and cannot be replicated, which means that players can sell or trade their assets for profit without fear of losing value. This creates a sense of exclusivity and prestige among players, leading to increased engagement and loyalty.

Benefits of Games Involving NFTs

Play-to-Earn Models

Games involving NFTs often use play-to-earn models, where players can earn in-game currency or assets by participating in the game. This incentivizes players to invest more time and effort into the game, leading to increased engagement and retention.

Cross-Chain Interoperability

NFTs are typically built on blockchain platforms that allow for cross-chain interoperability, meaning that NFTs from different games or platforms can be traded with each other. This creates a larger market for NFTs and allows players to diversify their portfolio across multiple games and assets.

Conclusion

Games involving NFTs represent the future of interactive entertainment, offering players a new level of ownership, scarcity, and engagement. As the technology continues to evolve, we can expect to see even more innovative applications of NFTs in gaming and beyond. Whether you’re a collector, gamer, or simply curious about the latest technologies, games involving NFTs are definitely worth exploring.