2022 – Review NFT game (Gamefi) and how do they work?

Recently, maybe gamers are encountering games described as NFT games. But this is a very new concept, and not many people understand them. This article will introduce you to the main elements of the NFT game and answer the question “What is NFT game?” If you are wondering what the NFT game is, this article will answer all your questions and more.

What is the NFT game?

NFT is not replaceable. This property means that each NFT is unique and cannot be swapped with another NFT. You can trade 1 BTC (bitcoin) for another 1 BTC, and both have the same value, but you can’t do that with NFT, even with NFT “artworks” that are released every day with multiple versions. In this case, the metadata of each NFT will be different, like the pages in a printout.

From the very beginning, with the CryptoKitties craze, NFT games evolved and started offering play-for-money models. It is known as Game-Fi, i.e., Game-Finance, which combines the worlds of finance and games, giving players the opportunity to earn income as they play NFT games. You no longer need to rely solely on luck to win, pick up or catch rare collectibles worth thousands of dollars.

Players can now choose to experiment with a variety of themed game models in addition to collectible animals in older titles. Games using NFT are gradually gaining popularity in the gaming world as a way to earn income. You can sell your in-game NFTs to collectors and other players for virtual items, virtual currency, and even earn real money by selling NFTs in “play to earn” games — play for money.

When exchanging and moving NFTs in your NFT games, make sure you transfer them to a compatible wallet. Also, watch out for common scams whenever you send NFTs to NFT marketplaces or other users. Finally, carefully read the rules of any NFT game you play to see if there is any possibility of a loss. This is a very important thing because the NFT game is not easy to join. You have to invest a decent amount of cash in order to start playing.

NFT games are mainly present on Ethereum and Binance Smart Chain. Some offer combat experiences and collectibles like CryptoBlades and Axie Infinity, and others use cards like Sorare. Some platforms (such as Binance) also offer NFT Mystery Boxes, allowing holders to own NFTs of varying rarity.

How does NFT game work?

So you understand what the NFT game is. But how do NFT games work?

NFT games are different from you just keeping crypto-collectibles in your wallet. NFT games will use NFT in the rules, mechanics, and player interactions.

Example: In Axie, your character and accessories are in the form of NFTs. Digital items you find while playing games can also be NFTs. You can then swap or trade your NFT with other players for in-game money. The newer model of play to earn — play for money — also allows you to generate real money income from such NFT games.

How do you take NFTs and technically implement them into a game environment? To swap, create, and deploy NFTs in a game, developers create smart contracts that make up the rules for which NFTs are used. Smart contracts are self-executing pieces of code stored on a blockchain.

However, there is one thing we have mentioned above and still need to reiterate: the NFT game is not easy to play, as it requires you to make an initial investment.

Here is an article top 10 NFT game that you can start playing right now: Click here

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Vince.H

Coincu Ventures