What is NFT in Gaming? The Blockchain Crypto Game Market - Brugu Software Solutions - Blog

What is NFT in Gaming? The Blockchain Crypto Game Market

The concept of gaming (or video games) has changed drastically over the decades from a simple Pong game to complicated software solutions on consoles, PC and mobile that offer a virtually unlimited range of genres and interaction mechanisms that turn games from mere interactive forms of entertainment into complicated universes that both engross and captivate.

While the PC and console markets have been lagging behind mobile, which has dominated over 50% of all internet traffic globally for the first time in the first quarter of 2021, a new type of gaming has been creeping onto the market with staggering success.
Blockchain Gaming
CryptoKitties game dropped on the Ethereum network in 2017 and literally clogged the network to a standstill. As gamers rushed to have a taste of the new type of blockchain gaming, the money flowed in their wake. The most expensive collectible cat ever sold in the game was valued at $117,000, which says a lot about the prospects of decentralized gaming.

Ever since then, blockchain-based games have been coming off the production line with varying degrees of complexity and success. The first quarter of 2021 saw the advent of an upgrade in crypto gaming in the form of NFT games, which have made the shift from Play to Earn games to collectible games based on the Pay to Earn principle, as rare NFTs often fetch astronomical prices on the market.

Recent statistics from statista.com reveal that the value of the game market worldwide has increased significantly over the past decade and is forecast to grow over the $200 billion mark in 2023. The overall capitalization of the NFT market reached over $22 billion in 2021, up from $338 million in late 2020. Much of the given sector is being focused on the gaming industry, which has immense potential for providing gamers with unique opportunities for collecting in-game items. Such possibilities are best highlighted in the esports market, which was valued at over $495 million in 2020 and is expected to reach over $646 million in 2021, in large part thanks to the injection of new technologies that make the engagement process more exciting for gamers and fans.

It is noteworthy that over 80% of all traffic on the Ethereum network is attributed to decentralized betting and gaming transactions over the last two years running. Such figures are a clear indication of the interest that both players and developers are dedicating to decentralized infrastructures for a great number of reasons.

Crypto Gaming vs NFT Gaming
Crypto gaming and NFT gaming are two different segments, as the first is more focused on spending cryptocurrencies to earn and transact with other players, while NFT gaming is focused on using native currencies for generating and collecting unique NFTs that can be used in-game for special actions or held and sold later on.
Why Does Gaming Need Blockchain?
Video gaming is a pretty locked-up industry in which gamers are isolated to their dorm rooms, couches, consoles, and mobile devices, but primarily to the in-game environment with limited options. This makes the interaction process limited to the game itself and the instruments it provides, which are usually collectible in-game items that can affect the abilities or visuals of an in-game character. In a true sense, modern gaming is very isolated as the players can only interact with their characters and items inside the in-game environment, with no connection to the real world.

In addition, most games online and offline can be modified or hacked, giving some gamers an unfair advantage over others.

Decentralized gaming offers gamers what they need – an economy based on principles of transparency, immutability and fairness, eliminating the possibility of fraud and allowing the gamers to start earning in-game, rather than spending.

Apart from the boons of principles, blockchain allows developers to explore entirely new horizons in a virtually unlimited and expansive infrastructure that gives untapped possibilities for integrating an endless variety of modules and technologies ranging from VR, AR, uncontestable pseudorandom number generators, and much more. All combined, such technologies extend the meaning of gaming beyond handheld interfaces.

The Problems of Blockchain Games
Though highly promising, blockchain games have their limitations. Not the least of them is the problem of transfer fees, which can often bite large chunks out of gamer earnings. Another problem is associated with data loss and the need to reward those who maintain game universe networks. The user interface and experience is also a major hurdle for blockchain-based game adoption. Lastly, blockchains are still scaling poorly and money laundering using NFTs is being eyed by authorities as a new form of crime.
It’s All In The Popularity
Regardless of the problems, NFT games are currently in the lead with such titles as Axie Infinity – a decentralized strategy game where users collect, breed, and trade fantasy creatures called Axis in Pokemon-style. The game sold nine plots of land for $1.5 million in its virtual space and is attracting up to 5,000 new users weekly, with weekly volumes nearing $1.8 million in turnover.

Sorare has proven to be just as popular, as it allows players to play fantasy football using digital cards of five-player teams and earn rewards based on their performances in real life. Other highly popular titles include F1 Delta Time – a Formula One game where users get to participate in racing tournaments using digital collectibles like cars, trinkets, race tracks, drivers, and tires. Or Evolution Land, where players interact using avatars called Apostles that can be purchased at NFT auctions.
The Future of Blockchain Games
The statistics speak louder than any prognosis, as the market determines the winners and is always quick to latch onto any opportunity that promises rewards and profits. Gamers want diversity, new experiences, and are eager to start making money in their favorite games. What else is there to say about the prospects of blockchain games, when blockchain itself is still nascent and is only just starting to develop its potential.

The coming years are sure to see an explosion of new titles flooding the market as blockchain networks scale and allow users to access games that are more user-friendly, better suited for mobile, and wield better graphics and engrossing storylines.

#nft #gaming #software-development

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Buddha Community

What is NFT in Gaming? The Blockchain Crypto Game Market - Brugu Software Solutions - Blog

Antier is the strong pillar of NFT for gaming industry

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Contact Us: +91 98783 62625 (India) , +1 (315) 825 4466 (US)
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aviana farren

aviana farren

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NFT Marketing | NFT Marketing Solutions | Best Marketing Solutions for NFT

The NFT marketing solutions are the key to business success in the digital world. It benefits a wide range of investors to promote their NFT business with detailed information through various social platforms to grab users’ interest in less time. Investors can connect with the leading Infinite Block Tech to gain the best marketing solutions for NFT cost-effectively to top the table in the marketplace.

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NFT Marketing Services | Non-fungible Token Marketing & Promotion Services

Every investor will be aware of Non-Fungible Tokens (NFTs) after it had made a storm in the cryptocurrency market recently. NFT marketplaces such as NBA Top Shot, OpenSea, and Rarible are the hub for large-scale trading of NFTs and quick execution of crypto transactions.

Entrepreneurs looking to capitalize on this growing trend can take a strong position in the industry by joining hands with an experienced Crypto marketing company. They will have a knowledgeable team of social media managers, community managers, content writers, content editors, and copywriters.

The various NFT marketing services offered are

Listing NFTs - The NFTs will be listed on the leading NFT marketplaces and cryptocurrency exchanges for sale to prospective crypto investors.
Top-notch market-making - The liquidity of the NFT is enhanced making it highly sellable for attracting a huge inflow of investments.
Social media engagement - A positive buzz for the Non-Fungible tokens is ensured by promoting its benefits actively on well-known social media platforms like Facebook, Instagram, and Twitter.
Online forum management - Active discussions about your NFT will be initiated on the popular cryptocurrency forums like Bitcointalk, CryptoTalk, and Altcoins Talks. This lifts the credibility of your crypto collectible.
Influencer marketing - Popular influencers with a large number of followers ensure maximum business traction for your NFT by showcasing its positives. Influencer marketing is done aggressively on platforms like LinkedIn and YouTube.
Email marketing - Crisp and engaging newsletters are shared with interested NFT investors as part of email marketing. Targeted marketing campaigns are conducted through Mailchimp.
Search Engine Optimization (SEO) - The NFT will be displayed at the top of Google and Bing search engine results when investors lookout for your digital collectibles.
Publishing paid advertisements - Paid ads are based on the Pay-Per-Click (PPC) model. Your NFT gets huge support from investors leading to greater demand for buying it. The brand value of the crypto collectibles is also boosted. Keyword targeting is done via Google Ads.
Maintaining friendly public relations - Public relations (PR) is taken care of by sharing press releases with famous industry sites like CoinDesk, Cointelegraph, Decrypt, and Yahoo Finance.
Telegram promotion - The prospective NFT investors are shared real-time alerts about sales, price changes, and special offers through the instant messaging Telegram app. Groups and channels will be created for publishing announcements frequently.

Final Thoughts

A Crypto marketing company will efficiently pull in a large target audience for your NFT. Customized NFT marketing services are provided to achieve the desired results successfully. The performance of NFT marketing campaigns can be tracked regularly. It contributes to a greater return on investment and an increase in the number of leads.

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aaron silva

aaron silva

1622441309

NFT Marketing | NFT Marketing Company | Marketing Services for NFT

The marketing services for NFT are outgrowing in the real world by widening enormous opportunities for investors to explore various marketing strategies to increase their business revenue and gain audiences’ attention as well. Investors can connect with professional marketing experts from Infinite Block Tech to get worthy NFT marketing solutions to top the marketplace.

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What is NFT in Gaming? The Blockchain Crypto Game Market - Brugu Software Solutions - Blog

What is NFT in Gaming? The Blockchain Crypto Game Market

The concept of gaming (or video games) has changed drastically over the decades from a simple Pong game to complicated software solutions on consoles, PC and mobile that offer a virtually unlimited range of genres and interaction mechanisms that turn games from mere interactive forms of entertainment into complicated universes that both engross and captivate.

While the PC and console markets have been lagging behind mobile, which has dominated over 50% of all internet traffic globally for the first time in the first quarter of 2021, a new type of gaming has been creeping onto the market with staggering success.
Blockchain Gaming
CryptoKitties game dropped on the Ethereum network in 2017 and literally clogged the network to a standstill. As gamers rushed to have a taste of the new type of blockchain gaming, the money flowed in their wake. The most expensive collectible cat ever sold in the game was valued at $117,000, which says a lot about the prospects of decentralized gaming.

Ever since then, blockchain-based games have been coming off the production line with varying degrees of complexity and success. The first quarter of 2021 saw the advent of an upgrade in crypto gaming in the form of NFT games, which have made the shift from Play to Earn games to collectible games based on the Pay to Earn principle, as rare NFTs often fetch astronomical prices on the market.

Recent statistics from statista.com reveal that the value of the game market worldwide has increased significantly over the past decade and is forecast to grow over the $200 billion mark in 2023. The overall capitalization of the NFT market reached over $22 billion in 2021, up from $338 million in late 2020. Much of the given sector is being focused on the gaming industry, which has immense potential for providing gamers with unique opportunities for collecting in-game items. Such possibilities are best highlighted in the esports market, which was valued at over $495 million in 2020 and is expected to reach over $646 million in 2021, in large part thanks to the injection of new technologies that make the engagement process more exciting for gamers and fans.

It is noteworthy that over 80% of all traffic on the Ethereum network is attributed to decentralized betting and gaming transactions over the last two years running. Such figures are a clear indication of the interest that both players and developers are dedicating to decentralized infrastructures for a great number of reasons.

Crypto Gaming vs NFT Gaming
Crypto gaming and NFT gaming are two different segments, as the first is more focused on spending cryptocurrencies to earn and transact with other players, while NFT gaming is focused on using native currencies for generating and collecting unique NFTs that can be used in-game for special actions or held and sold later on.
Why Does Gaming Need Blockchain?
Video gaming is a pretty locked-up industry in which gamers are isolated to their dorm rooms, couches, consoles, and mobile devices, but primarily to the in-game environment with limited options. This makes the interaction process limited to the game itself and the instruments it provides, which are usually collectible in-game items that can affect the abilities or visuals of an in-game character. In a true sense, modern gaming is very isolated as the players can only interact with their characters and items inside the in-game environment, with no connection to the real world.

In addition, most games online and offline can be modified or hacked, giving some gamers an unfair advantage over others.

Decentralized gaming offers gamers what they need – an economy based on principles of transparency, immutability and fairness, eliminating the possibility of fraud and allowing the gamers to start earning in-game, rather than spending.

Apart from the boons of principles, blockchain allows developers to explore entirely new horizons in a virtually unlimited and expansive infrastructure that gives untapped possibilities for integrating an endless variety of modules and technologies ranging from VR, AR, uncontestable pseudorandom number generators, and much more. All combined, such technologies extend the meaning of gaming beyond handheld interfaces.

The Problems of Blockchain Games
Though highly promising, blockchain games have their limitations. Not the least of them is the problem of transfer fees, which can often bite large chunks out of gamer earnings. Another problem is associated with data loss and the need to reward those who maintain game universe networks. The user interface and experience is also a major hurdle for blockchain-based game adoption. Lastly, blockchains are still scaling poorly and money laundering using NFTs is being eyed by authorities as a new form of crime.
It’s All In The Popularity
Regardless of the problems, NFT games are currently in the lead with such titles as Axie Infinity – a decentralized strategy game where users collect, breed, and trade fantasy creatures called Axis in Pokemon-style. The game sold nine plots of land for $1.5 million in its virtual space and is attracting up to 5,000 new users weekly, with weekly volumes nearing $1.8 million in turnover.

Sorare has proven to be just as popular, as it allows players to play fantasy football using digital cards of five-player teams and earn rewards based on their performances in real life. Other highly popular titles include F1 Delta Time – a Formula One game where users get to participate in racing tournaments using digital collectibles like cars, trinkets, race tracks, drivers, and tires. Or Evolution Land, where players interact using avatars called Apostles that can be purchased at NFT auctions.
The Future of Blockchain Games
The statistics speak louder than any prognosis, as the market determines the winners and is always quick to latch onto any opportunity that promises rewards and profits. Gamers want diversity, new experiences, and are eager to start making money in their favorite games. What else is there to say about the prospects of blockchain games, when blockchain itself is still nascent and is only just starting to develop its potential.

The coming years are sure to see an explosion of new titles flooding the market as blockchain networks scale and allow users to access games that are more user-friendly, better suited for mobile, and wield better graphics and engrossing storylines.

#nft #gaming #software-development