Blockchain technology and NFTs have extended their scope and use cases across various sectors, and the gaming industry is no exception. P2E games have got a massive reach and traction in the Web 3.0 space, unlike traditional P2E games.
While Web 2.0 games incorporated financial elements in the game, they didn’t gain much gamer traction, and it wasn’t welcomed by gamers either. But Web 3.0 games are being celebrated by gamers across the globe. The gaming assets which are used in the Web 3.0 gaming platform offer rarity and immutable ownership to the holders.
The scope to generate revenue and possession of rare and unique NFT assets have paved the way for the NFT gaming platform’s success.
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How Popular Are NFT Gaming Platforms
According to the latest report from NonFungible.com, the sales of gaming NFTs have accounted for 40% of the total NFTs sales. In addition, around 30% of the active crypto wallets are holding on to gaming NFT assets during Q3 2022.
NFT gaming assets have a dominating share when it comes to sales and possession of NFTs compared to various categories of NFT in the NFT marketplace across the globe. These statistics also prove that NFT gaming platforms have a bright scope to expand their business in the near future.
On the other hand, the P2E game market also looks promising for the future. According to Global newswire, “the global Play-to-Earn NFT Games market size is estimated to be worth USD 776.9 million in 2021 and is forecast to a readjusted size of USD 2845.1 million by 2028 with a CAGR of 20.4% during forecast period 2022-2028.”
Why NFT Gaming Platforms Are Celebrated By Gamers
The technological advancement of Web 3.0 enabled the gaming industry to incorporate elements like crypto assets, NFT assets, and blockchain technology into the gaming industry, which established the ground for wide P2E game adoption across the globe.
Role Of Non-Fungible Tokens In P2E Games
NFTs have a vital role in the NFT gaming platform, and they have elevated the gaming experience for gamers through their unique characteristics. NFTs offer immutable ownership of the asset to the holders, and each NFT is distinct from the other NFTs. Moreover, NFTs enable players to have unique characters, player emotes, skins, and accessories that are different from others. These NFTs can also be sold on the NFT gaming marketplace to cash out.
Cash Out Crypto Rewards
Web 3.0 advancements have transformed the gaming models from just being a platform to pass our leisure time into a revenue-reaping gaming platform. Rewarding crypto assets for gamers’ in-game accomplishments have turned out to be a lucrative opportunity for the gaming community.
Unlike the traditional gaming industry, where the gaming company makes all the profits. NFT gaming platforms are seen as a revenue-generating option for gamers from all fronts enabling the NFT gaming company and gamers to establish a win-win relationship.
NFT Gaming Platforms That You Can’t-Miss Out
If you are new to P2E games or you have played a bunch of P2E games, then I would definitely recommend you try out the below-mentioned NFT gaming platforms.
Axie Infinity is one of the most popular NFT gaming platforms in the P2E market. Axie Infinity is a pet-based P2E game where all the in-game assets (Axies- pets) are NFTs. The NFT gaming platform has its own NFT gaming marketplace that allows you to own axies and breed them and then battle with other players across the globe.
REVV racing is a play-to-earn simulation-based arcade game. The game offers an immersive racing experience for gamers. However, the NFT gaming platform does not have its own NFT Gaming Marketplace. Instead, the NFT gaming platform uses OpenSea to list their NFTs from where players can buy NFTs and integrate them with the NFT gaming platform.
RADDX Racing Metaverse
RADDX Racing Metaverse is an upcoming NFT gaming platform that is to be launched by Asia’s largest NFT gaming marketplace, Jump.trade. This NFT gaming platform is considered to be one of the revolutionary NFT gaming platform projects in the P2E market. As the NFT gaming marketplace aims to launch in-game assets (racing NFTs) at $1.
Gods Unchained is a card trading game where you can buy and own cards from their dedicated NFT gaming marketplace. This game is based on strategy and skills and players can own a collection of cards either by purchasing from their NFT gaming marketplace or from a duel with other players to collect their cards.
Spliterlands is a card trading NFT gaming platform that requires you to purchase a set of initial cards to get started with the game. The purchased NFTs (cards) can be integrated with their NFT gaming platform to either battle with other players or join quests to explore the gameplay of the NFT gaming platform.
Summing It Up
NFT gaming platforms and NFT gaming marketplaces are gaining a lot of traction in this digital era. Moreover, the feature to cash out from the NFT gaming platforms is celebrated by gamers across the globe. It is the right time for gamers to explore the whole new world of monetization options in the NFT gaming platform rather than just investing their time and efforts into traditional games, which do not have any monetization options.