The next step in the Web3 evolution

The concept of metaverse was conceived with the aim of giving humanity a better life in the digital world. Today, video games lead the way as the most active bridge for physical and digital world interaction. The same is true of blockchain-based games, as players who have tasted real ownership of digital assets flocked to Web3 games. Data shows that over half of active blockchain wallets were used in the GameFi space in 2022.

As the blockchain gaming market becomes more crowded, players are beginning to expect more from play-to-earn (P2E) games. Users set game improvements as the top expectation for blockchain games in 2023. But having a good game is not enough for gamers either — another study showed that over 51% of users participate in GameFi to make money. As a result, poorly designed game economies became the leading factor affecting GameFi profits.

In addition to an enjoyable gaming experience, blockchain games must also deliver robust economies to meet the expectations of the ever-growing GameFi space. A potential solution emerged in the form of commercial NFTs. Considered the next step in the evolution of non-fungible tokens (NFTs) after digital art and collectibles, commercial NFTs combine gamification, utility and decentralized ownership to enable players to set up shop within a game’s economy. In the GameFi context, commercial NFTs allow players to create real value for the game’s economy, turning them into business owners in a virtual world.

Players must own shops in the game

To reach their full potential, commercial NFTs need a game economy that rivals real life, and an upcoming survival online RPG project aims to achieve that by building a real economy in a blockchain game. Developed by indie studio DeFi Mechanics Lab, free-to-play survival RPG Gold Fever is a “metalife” game where real life intersects with the metaverse.

Players will take on the role of adventurers in Gold Fever, explore the wilderness to discover gold claims, and battle hostile wildlife in third-person gameplay. In addition to captivating graphics and immersive gameplay, the game makes use of NFT technology. With commercial NFTs, the platform makes players the owners of important assets in the game world, thus answering the long-standing question of full ownership given to the players and freedom to build and create an entire universe using skills, wits and financial opportunities.

“Gold Fever is not just a fun, pretty game,” explains the development team, adding that the project started with the ambition to deliver the best possible blockchain gaming experience:

“Derived from the blockchain and commercial NFTs, it gives players an extreme sense of property and ownership. Using skills to fight for things of real value, losing your characters and ultimately providing a way for people to become wealthy is what cryptogaming is all about should bring to the table, and Gold Fever does.”

How do commercial NFTs work?

The blockchain-based economy of Gold Fever is based on two pillars: The game currency NGL, the play to earn pillar and commercial NFT, the trading pillar. The NGL token has a familiar mechanic for P2E players: players can do certain in-game activities to earn it. What sets Gold Fever apart from other games is the concept of commercial NFTs. The game allows players to start their own businesses from the virtual world with commercial NFTs as the product, bringing the metaverse one step into real life.

In Gold Fever, players can own in-game businesses as commercial NFTs. The scope of commercial NFTs ranges from transport vehicles, such as boats, wagons or aircraft, to buildings such as bars, blacksmiths and hotels. Any player who owns a commercial NFT becomes a business owner and is thus effectively part of the game economy. The income generated via the operation of a specific business goes directly to the owner of the commercial NFT associated with that business.

Source: Gold Rush

The remote workplace trend triggered a major shift in people’s perception of working life since the pandemic. At the same time, the metaverse is slowly but surely growing into a reliable alternative to real offices. As people look for new ways to establish businesses in the digital world, commercial NFTs have the potential to act as a gateway between real economies and the metaverse.