What is an NFT? What is its significance in the gaming world?

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The internet blew up on the introduction of Cryptokitties. The Ethereum blockchain saw a huge surge in the number of transactions on the chain after the launch of Cryptokitties. If you don’t know what Cryptokitties is, it is a game that gave the start for introducing NFTs in games. People usually buy a lot of gaming stuff to play video games. That is why people felt introducing NFTs to games would make the items more credible and enhance the game experience. What are these NFTs, and why is there a spotlight on NFTs and games in recent times? Here is a short note on everything you need to know.

 

NFTs in the world of games

 

Non-fungible tokens are the ones that give tradeable ownership to digital files. So if you buy an in-game item from a game in the form of NFT, you can sell them back in an NFT gaming marketplace. 

 

This ensures the gamers that they have an enhanced gaming experience as well as the liberty to sell them whenever they want. These NFTs can also be rented out for fellow players in their gaming community. With this, nowadays, games are coming out in the rewarding web 3.0 model. Here the gamers who play the game get rewarded for the time and effort they put into gaming. NFTs are one thing that stood as a start for this new model. This not only benefits the gamers but also proves useful for the game developers. This is because whenever an NFT is sold again in an NFT marketplace for games, the creator, in other words, the developer, gets a royalty for the secondary sales. 

 

The bottom line

 

Thus NFTs are creating a revolution in the gaming industry on one side though there is widespread opposition from a few developers as well. NFTs will become the heart and soul of the gaming industry soon. The upcoming metaverse technology will be the one that will help to make it happen.

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