The Role of NFTs in Competitive Strategy Games By: Mr. Kameshwaran Elangovan, COO and Co-Founder of Guardianlink Gaming, like other sports, has also required its fair share of agility, responsiveness, attention to detail, and above all, a strategic
By Kameshwaran Elangovan
Gaming, like other sports, has also required its share of agility, responsiveness, attention to detail and, above all, a strategic approach. This has been one of the reasons why many gaming tournaments have been organized around the world and the winners of these games, who are more often than not strategic thinkers, have earned thousands if not millions of dollars.
Parallel to this, there should also be agreement that the strategy also depends on the effective utilization of game accessories and add-ons. Additionally, by default some game assets are pre-programmed to perform better than others, which again is a result of a person spending a lot of time in the game.
For example, a car with a better engine and better streamlining/aerodynamics will perform better in a car racing game. A car with a nitrous oxide booster will surely gain speed on the straighter parts of the track… But the booster will in most cases be an addition. That being said, even the use of this accessory depends on a number of factors such as the type of competition, the particular segment of the game and much more.
As so much is at stake, it is important to ensure that the gambling funds are not duplicated or counterfeited… Which can be very possible in the digital world. It also needs to be ensured that a person struggling through the game, cutting their way to the top, should not be locked out of their achievements with simple issues like losing access. Given the fact that there are game multiverse possibilities, it would also be a good idea to ensure that the given resource/accessory lives beyond the game itself.
It is for all these reasons that NFTs can be one of the most efficient and effective inductions in the world of competitive strategy games.
As most of you may have known… (At least because everyone is talking about it!), NFTs or Non-Fungible Tokens are digital tokens that reside on the distributed digital ledger called the blockchain. Unlike coins, they are unique, and each characteristic ensures that the legacy of authenticity is continued without compromising integrity. While this can be a nice case for digital collectibles, it also works well when it comes to gaming assets.
When game assets are turned into NFTs, they gain the superpower of impenetrable authenticity. This also gives a certain heightened authority to the sense of ownership for players.
Since the asset, like an NFT, is embedded in the blockchain, it becomes almost impossible to create a digital counterfeit of the game asset, which ensures that the competitive advantage gained by the game or through their efforts and expenses does not become ineffective, especially in high-reward gaming arenas.
Sometimes a player may feel a sense of saturation after they have played enough. If the gambling asset was not an NFT, they have no option to do anything other than close their gambling account and just leave everything as it was. However, with NFTs, it becomes possible for them to put their assets up for sale on NFT marketplaces. This way, passively but effectively, they can monetize their time, effort and skin in the game.
The monetization opportunities don’t stop in the passive territory… And that’s the best part! With NFTs, it becomes possible for games to open up a new opportunity called play-to-earn, usually abbreviated P2E. At the end of games or tournaments, the winners or the top of the table are rewarded with cash prizes… And it becomes an incentive for people to participate in the game. While this may not be a direct contributor to an advantage when it comes to competitive strategy, the fact that NFTs open this new window induces a greater sense of passion and belonging to the game, which fosters the spirit of competition.
More than anything, bringing NFTs into the game is a great catalyst for instilling community spirit into the game… Which is one of the core virtues of NFTs or any other Web3 element for that matter. People start engaging with each other, communicating ideas, starting to discuss the properties of their playing assets, coming up with collective strategies and much more! For all you know, the game development company can even take cues from these discussions and make their game more competitive… And it shouldn’t be forgotten that the community engagement came about just because of the existence of NFTs. Possibly NFTs helped make the game more competitive and strategic!
We’ve seen a lot of traditional games move into NFTs… And we’ve also seen a lot of NFT games create a niche for themselves, displacing some of the old players when it comes to the intensity of engagement. It’s quite clear that NFT gaming is here to stay, especially with a market cap of over $3 billion by 2022 and a projected CAGR of over 32% over the next five years.
The author is COO, Co-Founder, Guardianlink
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