How NFTs are Reshaping the Blockchain Gaming Experience in the Metaverse
In this article we explore how NFTs are reshaping blockchain gaming in the Metaverse.
Unless you’ve been living under a rock, you would be no doubt aware of the massive phenomenon that is non-fungible tokens (NFTs). And, it seems as though the NFT craze is only beginning. In fact, a cool $40 billion was spent on NFTs in 2021 alone. Leading many experts, like the one and only Gary Vee, to predict that NFTs will be the currency of the future. However, not everyone is convinced. Surprisingly, The One himself, Neo (well, at least his alter ego Keanu Reeves), recently laughed out loud when asked about his thoughts on the value of NFTs. Obviously not a fan of the new digital assets himself, this doesn’t detract from the fact that NFTs are reshaping the way we exchange value online, and in their wake, reshaping the blockchain gaming experience in the Metaverse.
Like it or not, NFTs represent a technological paradigm shift that will change all of our lives in unprecedented ways. So, seeing as they are here to stay, and we gamers are going to game, let’s begin our quest to find out exactly how NFTs are changing blockchain gaming for the better.
NFTs are Your Key to Accessing the Metaverse
In the future, NFTs will power eCommerce in the Metaverse(s). Non-fungible tokens, by their very nature as non-replicable and authenticated, will become an acceptable currency for buying and selling digital assets. And just like traditional crypto, they will essentially create a new economic model based on free trade, disrupting the monopoly of the real-world financial industry to dictate terms.
And it’s already happening.
Currently, individuals and companies alike can port their IRL assets and services into the virtual space that is the Metaverse(s). And one way of creating even more value in this space is through interoperable blockchain games. We’ve already written about how blockchain gaming not only engages but also empowers gamers. Players can participate in financial in-game systems in the Metaverse and, unlike traditional games, actually gain ownership over the assets they accumulate within the game. Hence the term “play-to-earn”.
Question for you: what’s fairer? Dumping a whole wad of cash on some skins and weapons that you can only use in one game, or being able to take these digital assets with you into whatever game you choose? Never really owning the digital assets you’ve paid for or having certified ownership of them on the blockchain? No doubt, you would agree that NFTs represent a much fairer system. Blockchain gamers retain full ownership of their assets rather than these being controlled by a single corporation. So, even if a game was to suddenly shut down for good overnight, you would still own the items you purchased, earned, or traded for in the blockchain game.
Blockchain Gaming Guilds Will Be an NFT Power Player
Gaming guilds will be at the forefront of increasing the popularity and engagement with play-to-earn gaming and NFTs. The guilds themselves will act as a type of intermediary; acquiring vast stockpiles of in-game NFT assets such as land and valuable commodities. These can be then lent out to players who will use them in their respective blockchain games to yield earnings. The guilds can then take a cut of the profits. You might be saying to yourself: hold on, this doesn’t sound fair. But what if I were to tell you that this system promotes the open and fair economy we discussed earlier?
You know the feeling. You start a new game only to find that it is difficult to get any traction because the other, more established players are already at higher levels. They have all of the cool weapons, upgrades, assets, and the like; whereas your noob self has none. Blockchain gamers who want to get a head start and don’t necessarily have the money upfront to buy in-game assets can go through a guild. In essence, blockchain gaming guilds lower the barrier to entry so that anyone can play play-to-earn games and make a profit! The guilds will help protect your freedoms and rights of participation in the Metaverse economy. In a nutshell, guilds help democratize access to the virtual economies of the Metaverse by empowering everyone with access to buy, sell, and trade NFT assets.
Your Avatar Is You
Acquiring NFTs will help you customize not only your identity but also your community and social experiences in the Metaverse(s). Possessing particular NFT assets will represent your unique personality and ideological perspectives about both virtual and real-world issues. A real sense of community will be created as individuals come together, forming collectives based on shared values and beliefs. The most powerful way of doing this will be through NFT avatars.
When we enter the Metaverse we get a chance to reveal our real or imagined selves. NFT avatars will act as an entry ticket, allowing us to experience different spaces within the Metaverse(s). And just like in-game assets, we will retain full control and ownership over our virtual identities. We’ll be able to build and customize them at will.
Today, owning particular NFTs grants individuals exclusive experiences both IRL and in the Metaverse. In fact, NeroVerse Discord members get to participate in giveaways not announced to the public. Get your level high enough and you can qualify for early access or even special discounts on yet-to-be-released items. At NeroVerse, we believe the future is out there waiting for us to create it. So why not join our community of like-minded gamers and prepare to live your life in the NeroVerse?
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