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NFTs and Video Games Industry 2023

NFTs and Video Games Industry 2023

Game Review 

The gaming industry is discussing NFT. Know what?

As a gamer, you’ve probably heard the term NFTs in the last year or so. It’s confusing. NFTs have to do with cryptocurrencies and the blockchain, but why are they being linked to games?

NFTs and Video Games Industry 2023
NFTs and Video Games Industry 2023

Why are video game publishers are now creating NFT-based games? What do gamers have to do with N-FT’s? I mean what are NFT’s? Many do not know about it. The answer lies in the interdisciplinary barren and drylands of the economy and computer sciences. Bear with us today, as we will answer all your questions.

NFT and Video Games Industry

NFT’s have penetrated the games industry, some have embraced it while others have disregarded it. Big names in gaming like Valve have banned any game on its platform that uses NFT’s. Likewise, the Video Game Awards 2021 will not feature any NFT-based games.

Phil Spencer of Xbox has clearly stated that N-FT’s are, “more exploitative than about entertainment.” Ex-employee of Facebook and Yahoo, Alex Stamos, has regarded NFT’s as scams. Yet the likes of Sega, and Ubisoft have come in support of NFT’s and are planning to join other corporations in the domain of Blockchain and crypto-based games.

NFT is known as a Non-Fungible Token, custom-made money which exists in the virtual world in JPG, graphics file, or even a Tweet. But how come a simple image takes the form of money?

The question is valid, but the answer is simple: “because the crypto community decided that it is.” This is how things worked in the past when it comes to the economy. Human beings as a society decided to put value and trust behind the paper currency to symbolize the value of services and assets.

The government comes in and regulates it to keep things in order. Some other examples where people put a value on certain things are real-estate, fine art, collector’s item, and old video games. NFT is the same thing, so in crypto.

NFT and Video Games Industry
NFT and Video Games Industry

You come across an image you like, or you create one, you like it, own it, you fuse the image to create a cryptocurrency, and voila! You have your first digital currency; a token.

However, the digital world of crypto and NFT’s is more like a Wild West with no hard and fast rules.

Blockchain technology is used to keep a digital record of ownership and proof of work chain. Now when it comes to games, you can own and possess NFT’s or in-game collectibles, like in Axie Infinity’s NFT cat monsters, and exchange them for real money.

Game publishers are working to create games where you own an N-FT and level it up by playing the game to make it more valuable.

However, there are ethical questions also linked with it, especially the energy-intensive verification system. The massive energy requirements and consumption result in environmental issues.

Nevertheless, with the amount of money pouring into this domain, we may see AAA games based on NFT’s and blockchain in near future.

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NFTs and Video Games Industry 2023

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Related P2E Games: Play To Earn Crypto, NFT, Web3

Era7: Game of Truth – Game Review

Era7: Game of Truth is a trading card game based on the blockchain. Players can earn ERA and GOT tokens by collecting NFT cards and playing the game on the Binance Smart Chain network. Era7: Game of Truth stands out because it is a cutting-edge virtual trading card game built on the Binance Smart Chain blockchain. It was inspired by popular TCG games like Magic: The Gathering and Hearthstone. It combines strategy and combat in a unique way, making for a fun and immersive gaming experience. The game makes a virtual world that is separate from the real world and has its own rules, digital items, and social interactions. Era7 creates a GameFi experience by combining DeFi, blockchain technology, and the thriving NFT market. The trading cards themselves act as valuable NFTs and have the potential to increase in value. With its self-sustaining economy, players have the chance to earn real money and are free to take it out whenever they want. In Era7: Game of Truth, the story is about the many different kinds of people who live on the Continent of Truth. These races live together and compete for the honorable title of “King of Truth.” Each race has special, talented people who go through tough training at the Summoner Academy. They become Summoners when they graduate, and then they go on a journey to make Summoning Pacts. They make deals with powerful beings from the seven races to work together. At the center of the continent, the final battle for the title of “King of Truth” takes place. Not only did the winner get an important title, but their race also got the highest honors in the land.

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BitBots – Game Review

“BitBots” is a Non-Fungible Token (NFT) metaverse blockchain game on Ethereum in which players can create their own bots by combining bits and pieces. This game offers a unique and engaging gaming experience for players. “BitBots” is a game that allows players to trade, collect, and mint their own personalized bots. The bots are created using a random combination algorithm with 600,000,000 possible combinations, offering a wide range of customization options. However, the minting process has a cap, which adds an element of rarity and value to the bots. Players can have fun collecting, trading, and creating their own unique bots in “BitBots.” BitBots Gameplay: By minting a bot, you will obtain a combined bot made up of a haphazard collection of leftover bot parts from the junkyard. Each bot is created at random on the Ethereum blockchain and can be bought, sold, and traded there. You can combine your favorite elements from each bot after gathering at least two of them to create a new one! From a collection of 29 bots created by 7 different artists. You can create a bot by selecting a head, a body, two arms, and two legs. These randomized bits come into existence via the blockchain, After that, they get coding to create your individual bot. Only 2048 of the over 600 million conceivable combinations will ever be produced. Additionally, some robot parts are harder to come by, making them rare.

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Colonize Mars – Game Review

Colonize Mars is a blockchain simulation that is powered by WAX. It combines strategy, exploration, and non-fungible tokens (NFTs) to make an exciting game about starting a life on Mars. Colonize Mars is a dynamic blockchain simulation game where players use their NFTs to go on a journey of managing resources, exploring, and playing mini-games that test their skills. With a simulation that keeps going and changes in Mars time, you can make your own path. You can also choose to become a famous Martian explorer who leads expeditions and makes discoveries that change the world.

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Antebellum – Game Review

Antebellum is a unique and exciting new fantasy game that combines the thrill of gameplay with the innovative technology of crypto non-fungible tokens (NFTs). Set on a distant planet called Valeria, players must fight for dominance among a variety of creatures in this play-to-earn game. Designed specifically for Web 3, Antebellum offers a one-of-a-kind gaming experience for players. Whether you are an experienced gamer or new to the world of crypto NFTs, Antebellum is a game that offers something for everyone. Its immersive fantasy setting and play-to-earn mechanics make it a must-try for anyone looking for a new and exciting gaming experience. Antebellum is an upcoming non-fungible token (NFT) game that puts an emphasis on the fun and enjoyment of gameplay rather than the earning aspect. Set in the fantastical world of Valeria, players can choose to join either the Valerians or the newly formed armies of Gaia in a thrilling war for dominance. The game is built for mobile platforms using the Unity real-time development tool, ensuring a smooth and seamless gaming experience. Antebellum is built on the Ethereum network and features its own marketplace, where players can buy, sell, and trade unique in-game items. Antebellum Story: Long ago, a celestial being called Gaia roamed around the universe looking for the perfect heavenly body. Finally, Gaia found it in the form of the planet Valeria, a beautiful exotic planet, and decided to reside there. Over the course of several millennia, Gaia felt lonely and decided to fill the land with creatures that will make her favorite place their home. These little creatures with ruthless natures and powers, thus named Valerians, started slowly developing enmity with each other and corrupting the land. The beautiful creatures comprise clans and waged war with each other and colored the planet red with their blood. Seeing this, Gaia engrossed her spirit energy into the core of Valeria, creating new creatures called the Heroes/Conquerers who will defend the planet from the corruption of the Valerians. Antebellum Gameplay: The game will offer various game modes like story mode, ranked PvP, custom matches, tournaments, and faction battles. The Valerians are tradeable NFTs showing different designs and abilities based on the different land types. There are 5 land types – Fire, Electric, Rock, Water, and Grass. There will also be 10 legendary lands in the NFT collection. Tokenomics: The in-game token is $VAL totaling 250 million initially. $VAL is both the governance and utility token of the game earnable through winning the tournaments and PvP battles. These tokens offer utility in the marketplace of the game to buy and sell NFTs and other things.

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Best P2E Games list 2024

NFTs and Video Games Industry 2023

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.