Why you should invest in NFT games
Non-fungible tokens (NFTs) are gaining popularity at a breakneck pace. According to analytics company DappRadar, trading volume for NFTs reached $10.67 billion in the third quarter of 2021, up a massive 704 percent from the previous quarter. One element contributing to the soaring trade volume is the rising popularity of non-financial trading NFT games. In-game goods produced $2.3 billion in trade volume over that time period, accounting for 22% of total activity.
The NFTs games are still in their infancy. Once a result, many predict that as NFTs become more ubiquitous, there will be a substantial upside. Here’s how investors may participate in this activity.
How are NFT games played?
Simply said, NFT games enable players to make money as they play. Combining video games with finance, or GameFi as players refer to it, these games make use of NFTs — one-of-a-kind digital treasures on the blockchain that gamers can sell in-game to other collectors and players. Additionally, gamers may earn NFTs via specific pay-to-play gaming models. This arrangement enables players to invest in non-fungible tokens (NFTs), which have the potential to rise in value.
Keep an eye on the NFT games
Numerous NFT games have developed a following among players as a means of earning and purchasing NFTs for profit:
Here’s a deeper examination of these top NFT titles.
Alien Worlds is one of the most popular non-linear time strategy games. It was the first blockchain game to reach 100,000 users. It presently has over 2.5 million members and is continuing to expand.
It’s a metaverse — a network of shared virtual worlds — stretching over seven planets. The game makes use of NFTs, and players mine for Trillium, the game’s cryptocurrency.
Alien Worlds is a game that requires you to play in order to gain. The local coin may be earned by mining, fighting other players, completing missions, or renting out their digital territory. The game makes use of digital things generated as NFTs, such as avatars for combat and mining equipment. Cashing out their Trillium allows players to earn money in the game.
Arc8 is a mobile esports platform with a pay-to-win model that started in October 2021. It enables users to engage in ten casual games in which they may compete in one-on-one matches and group tournaments for the chance to earn tokens. Shortly after its inception, the NFT gaming platform gained 1.3 million registered players.
The platform’s utility token is GMEE. It is used as an entry fee for in-game competitions and for in-game purchases. Additionally, they may earn GMEE as rewards.
Additionally, Arc8 intends to release G-Bots, which are upgradeable NFT game characters. They will gain more functionality as players go through the stages. Additionally, G-Bots owners will have access to unique play-to-learn competitions.
Axie Infinity is the leading force in the world of NFT gaming. It saw a surge in trading volume in the third quarter of 2021, accounting for $2.08 billion of the period’s total $2.3 billion in NFT games trading activity. That quarter alone accounted for 83 percent of the game’s $2.5 billion in historical trade volume. The primary reason for this surge in interest is because users are earning money on the network, with some earning up to $100 each day.
Axie Infinity is a virtual world for pets. New users must purchase at least three Axies, which are digital fantasy animals. They grow their Axies, combat other gamers, and then sell them. The play-to-earn gameplay strategy of Axie Infinity incentivizes players to create Axies with the greatest in-game equipment in order to sell them to other users at a profit, which may include the growing price of a cryptocurrency, particularly Ethereum.
CryptoBlades is a non-linear time strategy game in which players employ weapons to destroy their opponents. They amass SKILL tokens, the virtual money used in the game. They may improve and level up their characters with the SKILL. The game makes use of an NFT marketplace in which participants may promote produced commodities for sale, so boosting their income.
CryptoBlades’ popularity has fluctuated dramatically. It was the most popular game in 2021, with over 400,000 Unique Active Wallets (UAW). However, user participation has decreased as the price of SKILL has decreased, reducing users’ earning potential.
The company behind CryptoBlades has unveiled CryptoBlades Kingdoms, a stand-alone sequel that will include strategy-based land construction. This might result in increased user engagement and convert the game into a lucrative investment for players.
Splinterland is a blockchain-based digital collectible card game. Users amass a collection of cards with a variety of attributes and powers. They may be used to compete against other players in skill-based contests. Additionally, players may purchase, sell, and trade their NFTs.
Splinterlands’ popularity has surged, swiftly becoming one of the most popular blockchain games. It drew over 245,000 daily UAW members in September 2021, an increase of 3,267 percent from the end of the second quarter. It processed over 150 million transactions in the third quarter, totaling $1.18 million in volume, an increase of 1,200 percent over the previous quarter. One reason contributing to that growth is the game’s own token, Splinterlands Shards, which will be launched in August 2021 and will enable holders to vote on the game’s destiny.
MOMO Farmer is a free-to-play, earn-to-play NFT game developed by Mudbox. Users profit from yield farming, a decentralized market for non-fungible tokens, and governance tokens. Through its exchange, users may purchase and sell MOMO NFTs.
In September 2021, the game drew 30,700 daily UAW, earning $67 million in transaction volume. Meanwhile, its total trade volume increased by 28% year over year to $280 million in the third quarter.
The popularity of NFT games is increasing.
NFT games are a means for investors to profit from the NFT frenzy. Numerous NFT games contain financial models, which enable players to earn money while playing. The economic potential may expand as the popularity of NFT gaming grows. Numerous games are starting to distinguish themselves as potential revenue generators for gamers, making them worth monitoring.
Check out: A layman’s guide to NFT play to earn games