What is NFT Game? Outstanding Game NFT models

The gaming market still attracts a large number of users globally. Along with the development of gaming in crypto, Game NFT also occupies a large market share. So what is Game NFT? What outstanding NFT game models are there?

What is NFT Game?

NFT games are video games built on blockchain, using NFTs as the core of the game's gameplay and economics.

NFT is a token that represents in-game assets issued by the game, and represents the ownership of items that players hold. NFT games are a type of game in a niche of the gaming industry.

Popular NFT Game Model

NFTs have a special role in games. They are used with separate rules and regulations, whereby players also have unique interactions with each item.

Supposedly, for each type of game, NFTs will have different characteristics or designs. In-game items are represented by NFTs. This allows players to trade and exchange NFTs with other players similar to exchanging items in a traditional game model.

Some NFT game designs also help players earn profits from playing games. Their operating model design is not fixed and can be combined in the same game to create different experiences and depending on the project's tokenomic implementation orientation.

Play-to-earn NFT games

Play-to-earn is a game genre that allows players to make money from playing games. The more time they spend playing, the more money they have a chance to earn. This form of game emerged around 2021 with Axie Infinity.

The play-to-earn game type is often associated with a token reward design. Players earn rewards for completing missions and achieving level/rank related milestones.

Game Axie follows the play to earn genre

In-game NFT games

This type of game allows players to earn NFTs and trade them directly in the game or on exchanges. This is the most typical design to generate profit in the NFT game in-game model. Some forms of NFT items include:

·      Avatar

·      Weapons

·      Gloves (Glove)

·      Trading card

·      Pets

NFT game market expected to 2028. Photo: Mordor Intelligence

According to Mordor Intelligence's hypothesis, it is expected that by 2028, the NFT game industry is expected to reach a capitalization of 820 billion USD. During this period, the market with the strongest growth is Asia.

Advantages of Game NFT

NFTs used in games bring many outstanding benefits. They represent the player's ownership of digital assets, the ability to interact with games and monetization applications.

·      Ownership: Players have ownership rights and have the right to directly use the assets they hold. This asset is converted from special items in the game and stored on the blockchain.

·      Uniqueness: Each NFT has its own characteristics, there are no two identical NFTs on the blockchain.

·      Interoperability: NFTs will be increasingly interactive across multiple games and platforms. This helps improve the functionality and value of the NFTs that users own. In other words, making NFT's liquidity source more "abundant".

Game items can interact with many platforms

Besides, the economic model of NFT application games is often associated with a design that helps players earn a valuable source of income. Therefore, play-to-earn game models are increasingly attracting more players, especially in areas where the traditional game market is saturated.

In 2021, Axie Infinity exploded and was most welcomed in developing economic countries such as the Philippines, India...

In 2023, many game models and products have been launched, representing the shift of the gaming industry to the crypto market. Although NFT games are not new, they are a potential piece of the puzzle for investors, developers and players to exploit.