FT-based games have emerged as a new trend in the gaming industry, driven by the growing popularity of NFTs (non-fungible tokens) and the desire to create more immersive gaming experiences. Unlike other game genres that perform well in certain regions, NFT-based games and experiences are in demand globally, with the UAE and the MENA region being the genre’s hub for growth.
Broadly speaking, the gaming industry in the region has grown rapidly in recent years, with more investors pumping capital into development and esports, and more players getting their voices heard for experiences that might have previously been unavailable to them.
In conjunction with these projections, the Dubai Chamber of Digital Economy has reaffirmed its commitment to assist the emirate, with plans to strengthen Dubai as a regional and global gaming industry hub. With such significant growth expected, the potential for NFT-based gaming to establish itself as a major gaming genre is enticing, as developers and players alike will continue to see resources invested in the right areas.
Variance of game mechanics
NFT games use NFTs to represent unique in-game items or assets, allowing players to buy, sell and trade these assets on blockchain-based marketplaces. The growth of NFT-based games is significant, with more developers and players embracing the concept of using NFTs in games. These games provide players with a unique gaming experience, allowing them to own their in-game assets and participate in a decentralized gaming economy. This has led to a surge in popularity, with developers being allowed to flex their technical expertise, creating entirely new experiences accessible via NFTs and blockchain integration.
NFT-based games are becoming more sophisticated, with developers experimenting with new mechanics, such as player-owned game worlds, in-game management systems, and play-to-earn models. These models are intricate systems that developers build. These innovations have the potential to revolutionize the gaming industry, making it more player-centric and rewarding for players who contribute to the gaming ecosystem.
Inspired by traditional game genres and concepts, these games feature traditional game genres with some form of variation, bringing out a unique sense of character and a host of other mechanics. From collectible games where NFTs represent cards to battle animal simulators where the NFT is your unique pet, there is a high standard of innovation that may be overlooked by many.
A growing style of NFT games called gamification explores the play-and-earn model, with a number of modifications and variations such as social to earn, race to earn and watch to earn, all possible angles in which developers can structure their games. An example of a play and earn game that mixes multiple experiences is Banksters, which has implemented a full range of classic and blockchain games. The firm has created an NFT trading game, which seeks to reward players for understanding crypto market trends, while challenging them to put their knowledge to the test by expressing their trading skills and game strategy.
NFT-based games and economics
NFT-based games have the potential to increase the economy and impact the gaming industry in significant ways. As players earn cryptocurrency by playing these games, they are essentially participating in a new form of work, which has the potential to disrupt traditional employment models. This could usher in a new era of decentralized work, where players can make a living by participating in decentralized gaming economies.
Furthermore, NFT-based games are already influencing the gaming industry by changing the way developers approach game development. As these games become more popular, developers are starting to think more about how to create decentralized economies and player-owned game worlds. Nextbraintech expects that this could lead to a shift in power from game developers to players, making the game industry more democratic and player-centric.
With the potential to transform the gaming industry and create new opportunities for players and developers alike, the future of NFT-based gaming is promising. As more players embrace the concept of owning their in-game assets and participating in decentralized gaming economies, we can expect to see more innovative NFT-based games emerge, pushing the boundaries of what is possible in the gaming industry.
Alex Altgausen is co-founder and CEO of Banksters
Read: US video game retailer Gamestop launches NFT marketplace
