The emergence of NFTs in gaming has caused excitement among gamers. Because selling in-game assets for money didn’t exactly increase the fun of the game. The monetization of games is also often criticized. But NFTs play an important role in the blockchain gaming space.
Why are NFTs used in gaming?
NFTs differ fundamentally from cryptocurrencies such as Bitcoin, Ether and Co. Because with the latter, each unit can be exchanged for another unit of the same cryptocurrency. Here we are dealing with an important property of currencies: each unit has the same value. In short: every coin and token must be fungible in cryptocurrencies.
The opposite is true for NFTs: they are not fungible. Each token is equipped with unique properties, so you can’t just swap them out at will. And that is why they are so important in blockchain gaming.
Blockchain Games: Why are NFTs important?
The fact that NFTs are not interchangeable gives them many uses in gaming. For example, they are used to represent unique items, weapons, or other in-game items. Avatars can also be mapped as NFTs. Thanks to the transparency of the blockchain, you can prove who owns which item at any time and anywhere.
But that’s not all: The items can also be traded much better. For example, if you manage to collect particularly rare or exciting items by playing a play-to-earn game, you may be able to sell them for a profit – thanks to NFTs.
Also, being portable, they are not tied to the ecosystems of each game. Rather, they can be traded globally.