One of the most important aspects of any gaming platform is the ability to create an engaging experience. In the past, this has been accomplished by incorporating fun and innovative game mechanics, new ways to interact with players, and constant updates. However, as we continue to move forward, there is another way to improve your gaming platform: by adding NFTs.
The new breed of blockchain-based digital collectibles is a powerful tool for developers to create new experiences and monetization opportunities.
It’s time to consider how you can use NFTs to attract players, engage them and make them spend more money on your games.
GammaStack‘s experts can help you integrate non-fungible tokens into your online gaming platform in a way that will improve your user experience.
What are NFTs?
NFTs are digital assets that are non-fungible, which means that each one of them is unique. They can have different features and characteristics, but they all share the same traits: you cannot create more copies of an NFT.
NFTs are non-transferable, meaning that only one owner can own a particular NFT at any time. A simple example of an NFT would be a physical asset like a painting or a piece of jewelry. You can own one painting or one necklace but not two paintings or two necklaces at the same time; they are unique assets.
NFTs are also fungible, which means that they can be traded for other NFTs on the blockchain. Fungibility is the quality of being interchangeable or substitutable.
How NFTs Are Used in Online Gaming?
NFTs are used in online gaming to enhance the gaming experience. They can be used to add value to an existing game or they can be used to create a new game entirely.
Here are four ways NFTs are used in online gaming:
Virtual pets are common in video games, from Tamagotchi-style digital pets to Pokémon GO’s pocket monsters. The most popular NFTs are these digital pets that you can breed, train and level up. Some of these virtual pets can take days or weeks to fully evolve into their final forms.
Your favorite online game might have an in-game currency system where you can earn coins and spend them on upgrades or cosmetics for your character. In some games, these coins have real-world value as well — so they’re also considered NFTs.
Tokens can be used to represent digital collectibles, like cards, art pieces, or any other virtual object. For instance, CryptoKitties is a blockchain-based game where players can collect and trade digital cats. Each cat has a unique genome that determines its appearance and characteristics. CryptoKitties allows users to buy or sell their digital cats through smart contracts on the Ethereum network.
Collectible cards have been popular for decades, but their digital counterparts are gaining ground in today’s gaming market. These virtual collectibles can be purchased with real money or exchanged on secondary markets like OpenSea and RareBits. In some cases, they can also be earned by playing games or completing achievements.
Benefits of Introducing NFTs to Your Online Games
NFTs have become the hottest new trend in online gaming. The benefits are many and varied, but here are some of the most important:
Better user experience
NFTs allow users to collect, trade and sell virtual items on the blockchain, which means they can be stored safely and securely, with no risk of being hacked or stolen. This improves user experience by reducing the need for trust in centralized platforms and ensures that gamers will always own their items.
Higher engagement with brands
Brands can use NFTs to create engaging experiences that encourage players to purchase their products through branding campaigns and competitions. Players are incentivized by the opportunity to win real-world prizes like tickets to live events or exclusive merchandise. It also allows brands to reach out directly to their target audience in a personal way, without being limited by geographical constraints or demographics.
Better user retention rates
Players who have invested time and money into obtaining NFTs are more likely to stay engaged with your game over time — even if they stop playing temporarily — because they want to continue reaping the rewards from their investment.
Payments made easy
Players can make payments quickly and easily through the blockchain network without having to use credit cards or other payment methods that might be difficult for younger players to obtain.
The blockchain network keeps all information secure so that no one else can access it without permission from the owner of the data — which means your personal information is safe from hackers and other malicious actors on the internet.
You can earn money by playing games and selling your collected items on an exchange platform where other people can buy them with real money or other cryptocurrencies like Bitcoin or Ethereum.
NFTs are truly unique
Unlike traditional digital assets, which can be copied or replicated, NFTs are one-of-a-kind. This means that they cannot be duplicated or counterfeited by third parties.
Gamers love their games and the people who create them. But they also love to collect things. That’s why NFTs are a perfect fit for the gaming industry, and why we’re seeing more companies embrace this technology in their games.
GammaStack can help you integrate NFTs into your online gaming platform. They offer full-stack development and management services for NFT projects.