What are NFT games like and why do some use them to make money?

Lately NFT (Non-Tradeable Tokens, English abbreviation) gained notoriety in part because some artists bought some tokens as if they were works of art, however, Not all NFTs are images, even video games.

NFTs are files that contain an image, video, music, document, and even video games. In other words, any digital item can be an NFT and be unique by being associated with a key of a blockchain (blockchain), usually associated Ethereum.

With this network of blocks, the archive becomes unique, so there are those who treat them as paintings of art, because they cannot be tampered with: something like a painting by Pablo Picasso.

Because they can be any digital medium, there are those who explore their possibilities in video games. These nft games Also called by some play to win (play to win).

how they work

Similar to other games, these have tokens to buy accessories or quests, and when the player finishes a level or defeats their enemies, they are given a bonus to continue playing and purchase items like skill upgrades, skins from the store. .

Open nft games these coins are cryptocurrencies that the user must purchase with real money to play. the trick is when finishing a task or defeating a boss, a bonus is given with cryptocurrenciesexchangeable for real money – that’s why they’re also known as Play to Win.

In this case, the player can get cryptocurrencies in the game, just like in an average video game, Use their “earnings” on character upgrades. Supposedly, the more attributes it has, the more valuable it is in terms of cryptocurrencies and real money.

Although it may seem like a “win-win”, cryptocurrency and NFT market very volatileThat’s why stock market experts recommend not investing in this digital media.

According to a report from Bloomberg, One-third of NFTs have no value and one-third are bought and sold cheaplythat is, more than half of them can be said to be unsuccessful.

As mentioned earlier, many based on Ethereum and trading on the platform Offshore. Although crawling in most places, Exceptions like Bored Ape and CryptoPunk they have succeeded in establishing themselves as customers and markets.

Business Content Noting that only 1% of NFTs are traded above $1,500, 75% sold for under $15. Therefore, if the user wants to start this type of game to “become a millionaire” by playing and defeating his virtual enemies, he should consider that his investment may fail.

The first NFT video games appeared almost 10 years ago, but recently gained momentum with the popularity of cryptocurrencies. OROne of the most famous games is Axie InfinityAccording to the IEBS School, more than US$485 million moved through its own economy in the summer of 2021.

Axie Infinity has close to 2 million daily users, is inspired by Pokémon and you must purchase at least two Axies to play. Other popular games are Decentraland, The Sandbox and Samurai Dodge.