NFTs were the biggest revelation of 2021, recording a 200x jump in cumulative trading volume from the previous year. NFTs have truly carved out a significant market sector in the crypto industry, from providing art ownership to becoming a market-expanding technology.
While NFTs have generated massive mainstream interest through PFP collections, their usability and utility are mainly showcased in blockchain games. The latest DaapRadar report suggests NFT gaming accounted for more than 50% of blockchain activity in Q1 2022, proving the influence of NFTs on gaming.
Gamers are now collecting NFTs to participate in a broader player-owned economy that rapidly gains a competitive advantage over traditional games. And with the intersection of DeFi, gaming, and NFTs, the possibilities for players to earn money increased tremendously while still enjoying immersive gaming experiences.
NFT Gamefi Projects Have the Upper Hand
By enabling players to retain ownership of in-game assets, NFT-powered games are rapidly shifting the tables on the monopolistic gaming industry.
In traditional video games, the incentives generated through item sales are distributed among game publishers and developers, not the players who made the game so famous. In addition, players have zero control over their assets, as they cannot transfer or sell them in an open marketplace.
In contrast, NFT games offer a high degree of asset interoperability and economic upside. In addition, NFT gamefi projects introduce a gamification concept called play-to-earn, allowing players to monetize their skills and time spent achieving in-game milestones. Finally, as these NFTs are unique and carry value outside of games, players can profit off a valuable game item on a secondary marketplace.
With NFT staking features, players can lock up their game assets and collect rewards periodically. In addition, NFT owners can rent their assets to other players and receive a percentage of their earnings. Gaming guilds usually carry this transaction, lowering entry barriers to the NFT gaming market.
Don’t Know Which NFT Game to Choose? Start with FOTA
The functionality and player benefits of P2E games are miles ahead of traditional games. But if the graphics and storytelling are up to mark compared to regular PC console games, it loses core motivators of gaming — playability, and entertainment. Fortunately, there are emerging NFT gamefi projects like FOTA focusing on entertainment and earnings.
FOTA, or Fight Of The Ages, is an AAA-rated blockchain game with strong metaverse and NFT technology integrations. Developed using Microsoft Mesh technology, FOTA is one of the few blockchain games to support AR and VR. The metaverse uses the Unreal engine to create surreal immersive gaming experiences. In addition, the game plans to roll out decentralized identities to give users complete control over their personal information.
FOTA’s game mechanics are top-notch. The multiplayer game features two main playing modes called Campaign and Arena. While the former walks through the FOTA universe, the latter allows PVP battles. Tournaments and friendly duels are also a part of the game.
Besides gameplay, FOTA has several incentive mechanisms ensuring players have access to both active and passive earnings. By playing the game consistently, players can accumulate experience points and level up their hero NFTs. In addition, once the NFTs fall under high rarity groups, players can sell them on the official FOTA marketplace.
For passive earnings, players can create a clan and buy FOTALand. They can collectively earn 1% of the profits and even rent the land to other clan members. Further, FOTA introduces hybrid farming of LP and FOTA tokens to give players high returns while maintaining deep liquidity.
While the game’s final version is yet to launch, FOTA will roll out an open beta test by the end of May. FOTA community can access the beta version on any platform available on multiple platforms, including Android, IOS, and Windows.
There is no question traditional video games still dominate the gaming industry. However, the emergence of NFT games has shown the importance of asset ownership and bi-directional value distribution in a gaming economy. So the paradigm is slowly starting to shift from conventional to blockchain gaming.
From here, the NFT infrastructure will get more robust, and gameplay will improve with high-quality NFT games like FOTA. As a result, blockchain gaming will witness valid mass adoption compared to any other crypto market sector. To learn more about FOTA, visit https://short.fota.io/uy1b.