The Blockchain Gaming Market is the hottest product from the blockchain industry. The last quarter of 2021 saw to massive spike in the prices of GameFi tokens. As with everything that is experiencing growth, there are always questions about its future. Is this niche just a hype? Will it continue to thrive, barely survive or die off in no time?
The Evolution of Blockchain Games
Before we ascertain what the future holds for blockchain games, let us look at its growth. How far it has come and what has changed. Looking at its development will help us predict its future much better. NFT games were designed to correct a number of flaws in the video gaming industry. They include:
- Players not owning in-game assets.
- Money flowing in one direction.
- No reward for the passion of gamers.
However, the blockchain gaming niche we see today is not what it used to be. Initially, the focus was on playing to earn and there was little focus on gaming itself. As such, most blockchain games were simulation and strategy games that did not give players that much hands-on playing opportunity. They include games like Axie Infinity, Plants Vs Undead, My Defi Pets, etc.
However, it soon began to change with players demanding for better playing experiences. This caused NFT gaming outfits to invest in developing more visually appealing games with immersive gameplay. Following this improvement, games like illuvium, Star Atlas and others became more mainstream.
NFT fever
As mentioned earlier, one of the issues GameFi looks to correct is allowing players to own their in-game assets. In this regard, this niche gave players the opportunity to truly own their digital assets as non-fungible tokens or NFTs. Hence the name “NFT Games”. As the owners of NFTs, users can sell, buy or lend them to and from other players. Alongside the use of cryptocurrencies, NFTs served as a means through which players could monetize their passion for playing games.
While games used them as in-game characters, boosters and assets, NFTs also served as collectables for collectors. Even creatives began offering their content as NFTs. Within the period of 2021 and 2022, these creations were sold for prices ranging from $6 million to $91 million. Mind you, some of these collectables did not have specific use cases. They were similar to artworks on a canvas. Their only use cases came from metaverse games that allow users to customize their avatars with certain NFTs.
The Boom of the Metaverses
The conception of the metaverse revolutionized NFT games. It helped them grow from just routine gameplays to gaming ecosystems. The metaverse is a virtual world existing on one or more blockchains. They feature virtual spaces called LANDs that players get to buy, access and enjoy various experiences.
Players who owned these virtual LANDs will gain and be able to engage in various aspects of gameplay. For example, PVU land allows players to engage in farming. While land owners in The Sandbox will get access to certain experiences. However, the metaverse is growing beyond gaming. NFT games like Gamium, Polkacity and the likes are offering users the opportunity to work in the metaverse.
The future of the metaverse will definitely transcend beyond gaming. Some metaverses are already offering users the opportunity to advertise as well as sell products and services in the virtual space. These products or services will be delivered in REAL LIFE to the person making the purchase. Soon enough, there will be a multiverse – virtual worlds compatible with multiple blockchains. With the introduction of 3D devices to GameFi, users will be able to work virtually on the blockchain.
Conclusion
At the moment, some NFT games are considering using NFTs as invoices. As such, users who sell products or services in the metaverse will be able to offer receipts for payments to buyers. Looking at the setup of blockchain games, it looks destined for greater things. Even better, it has all the tools and features necessary for achieving it.
