What are NFT games and how they work

NFTs games are all the rage among users looking to acquire unique digital items through blockchain technology and cryptocurrencies. To explain what NFT games are and how they work, Canal Technology A full article has been prepared which also highlights whether these games make money and whether it is safe to play them.

What is NFT?

NFTs are non-fungible tokens, which may be interpreted as “non-fungible tokens” in a free translation. The name might seem a little strange, but think about it: the word “token” can be interpreted as a kind of seal or digital certificate; the word “fungible” refers to any thing.

Therefore, non-fungible tokens are classified as digital items that cannot be replaced, exchanged, destroyed or copied. Even if there is a copy of the product, the original NFT is the only one that correctly proves its originality. In some cases, an artist or NFT owner may create multiple units of work, but most NFTs usually have only one version.

The ‘Mona Lisa’ painting is not an NFT but has been digitized on the internet (Image: Copy/Wikipedia)

Case in point: The world-famous works of artist Leonardo da Vinci, such as paintings such as La Belle Ferronière and the Mona Lisa, are easily found on the Internet and can be downloaded or printed by anyone. However, the original work, thus unique, is on display at the Louvre Museum in France.

Leonardo da Vinci paintings, if they are sold on the internet, can be classified as NFTs because they are non-fungible goods (cannot be replaced) even though there are millions of HD copies on the web.

What is an NFT game?

Since almost anything on the internet can be a non-fungible token – from photos, videos and GIFs to messages, audio files and other content – NFT games follow the same logic: convert the entire game or some element of the title for a single thing.

Usually the difference between NFT games and other works is that the game invests in collectibles to attract more people. Players, in turn, see in these items the possibility to profit from exclusive creations, as each NFT in the game is unique and therefore considered rare among players.

Axie Infinity is an NFT game that lets you buy and trade items for real money (Pic: Handout/Sky Mavis)

By the way, NFT-based games also link collectibles that are generated and earned while playing the game – so-called “in-game NFTs”. That said, users can also trade with items collected during gameplay to earn money with items sold in-game.

How do NFT games work?

Game mechanics vary from game to game.However, most NFT titles follow this model game to make money (play to win, free translation) where players earn a source of income (tokens) just by playing the relevant title. The more you play, the more you win. This has always been the most common model, as the more advanced the player is, the better and rarer the items will be obtained during the match.

Do I have to pay to play NFT games?

Again: it will be up to the game and the responsible developer, as the latter can take what it sees as the most efficient approach to NFT applications.

For example, Axie Infinite is one of the most popular NFT games out there. Just start playing, you need to pay 1200 US dollars (directly converted to 6720 reais), which is equivalent to a minimum of three axes (the title’s collectible monsters) to enter the game. Each axe for beginners sells for $400.

There are free options like the Gods Unchained card game. There is no charge to join, and players receive a deck of 140 cards. It turns out that these cards have no value in the game, which means that NFT items that can be traded with others are only earned as players progress through the game.

Gods Unchained is a free NFT game (Pic: Handout/Gods Unchained)

Popular NFT Games

Despite being different from other games in terms of influence, NFT games have been successful among users who like to play the money-making model. Some examples:

  • axis infinite;
  • pain;
  • the gods are freed;
  • NFT Binance Collection;
  • alien world;
  • Split the continent.

How to make money in NFT games?

It also depends on the mechanics employed by each NFT game. The traditional method is to play games to acquire rare items and trade them with other players in the future.

In most cases, NFTs are in-game and can be clothing, weapons, equipment, and other elements that are already common in games. The difference is that players have to buy items from someone or sell NFTs in their character’s inventory. Of course, if players are interested in this type of negotiation.

In traditional games for PC, consoles, and mobile phones, these games sell cosmetics that change the appearance of characters or certain items, the idea being to show them to other players, proving the rarity of those parts. This is the same concept as NFT games. However, instead of locking the item in inventory, players can cash out by selling it to others.

It’s also important to note that just as the value of a game or an NFC item in a game can suddenly rise, it can also fall. Everything depends on supply and demand: the rarer the item, the more expensive and sought after it will be in the player community. If that demand falls or is lower than the previous day, then the item may depreciate in value.

Canaltech on YouTube

NFT (Non-Fungible Token) or “Non-Fungible Token” in Portuguese. In short, a unique, immutable and to some extent non-transferable digital code. Learn more about the concept of NFTs, understand what the technology does and how it relates to cryptocurrencies. Watch the video What is an NFT? And subscribe to Canaltech on YouTube.

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