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Video Games Catalyst To NFT Mass Adoption

Video Games Catalyst To NFT Mass Adoption

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Video games industry as a catalyst to NFT mass adoption.

NFT’s are now a household term and commonly used but that wasn’t the case if we go back a couple of years. non-fungible tokens known as NFTs exist in the digital world with authenticity certificates and registered ownership on blockchain technology.

Video Games Catalyst To NFT's Mass Adoption
Video Games Catalyst To NFT’s Mass Adoption

Several industries embraced the idea of NFTs and launched their respective digital artworks as purchasable and re-saleable NFT’s. But it had a limited community and audience and was more related to geeky stuff.

NFT’s

Nowadays, NFTs are being introduced in video games, and it has reached millions of audience. Game publishers act as a legitimate catalyst in the massive popularity of NFTs among the masses.

Ubisoft recently launched Quartz for its gaming community where players can buy NFT’s known as ‘Digits.’ Moreover, Electronic Arts, Atari, and Sega are also planning to launch their own NFTs projects in their games.

NFTs will work as collectible digital in-game items like avatars, hats, swords, vehicles, and you name it. With three billion gamers around the world, NFT’s will have a massive community, and it is high time to introduce this new technology.

Video games will significantly widen the scope and reach of blockchain-based assets like cryptocurrencies and NFTs. A recent example of a successful NFTs integration into a video game is Axie Infinity. Axie Infinity is a game based on the Play to Earn model and is astronomically popular in developing countries like the Philippines and Venezuela.

However, the NFTs market is a highly volatile one and doesn’t have any sort of regulation to it. Some NFTs have sold for a whopping $69.3 million while others don’t do that good. Most of the traders have lost their money while trading NFT’s.

Video Games Catalyst To NFT's Mass Adoption
Video Games Catalyst To NFT’s Mass Adoption

According to a report, only 28.5% of NFTs yield profits if they are sold immediately after their production.

Jonathan Teplitsky of Horizon Labs added that huge investments are being made into NFTs and investors are taking risks owing to low-interest rates.

“That being said, the market crash for high-priced NFTs is coming,” he concludes.

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Video Games Catalyst To NFT Mass Adoption

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Novopangea: P2E Blockchain Strategy Game, NFT Land Tokens

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Cornucopias – Game Review

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Nova Battles – Game Review

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Best P2E Games list 2024

Video Games Catalyst To NFT Mass Adoption

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.