What are the biggest advantages of NFT Gaming?

• Ownership: In traditional games, product purchases are one-off and non-transferable investments that remain locked in a single game world. The use of NFTs in game environments gives ownership of their in-game assets to players instead of the developers of the particular game. Through blockchain technology, players can store in-game purchases, sell them to other players, or move them to other supported games.
• Scarcity of rare items: Collectors value rarity and authenticity. The NFTs that are scarce in these games are easily traceable through immutable records written on the blockchain. You can find the number as well as check the uniqueness and ownership history of each NFT on a distributed public ledger record.
• Interoperability: Traditional online games run on centralized servers. As such, game assets exist on proprietary systems that do not communicate with each other. In contrast, decentralized games exist on independent blockchains that function as a backend framework for other interconnected games. As a result, game assets – NFTs – can be designed to be interoperable across different environments. For example, two games built on the Ethereum network can realistically support the same game assets; these could be vehicles, armor, or even entire characters.
• Immutability: When a traditional online game shuts down, users traditionally lose all their in-game purchases. However, NFTs exist independently of a specific game platform and live on the blockchain itself. In-game purchases can be bought and sold regardless of what happens to the game, and new games can be designed to plug into the existing blockchain protocol. In addition, blockchain-enabled game assets cannot be duplicated or manipulated because each NFT creates a permanent record when it is issued.

NFT Gaming still has a few drawbacks that will need to be worked out.

• The poor design and gameplay of NFT games are the first and most obvious flaw. Since they are often made by casual NFT fans rather than prominent game designers, most of them are reminiscent of browser games from the previous decade. However, this problem is gradually being addressed as we see more serious companies take up game development in the field.
• The volatility of the crypto market and the high cost of entry to join the game are the scourge of many gamers who would like to give NFT gaming a try.
• Strict regulatory measures: Because NFT gaming uses blockchain technology, regulatory restrictions have been put in place in many countries around the world. Asia being one of the largest markets for gaming and cryptocurrencies, governments in countries such as China, Japan and South Korea have passed laws that are damaging to NFT gaming and DeFi. Even though NFT gaming is available in these countries, players are hesitant to join because they could get in trouble with the law.
• Possible hacker attacks and “ghost projects” where developers don’t have their identities sufficiently revealed and disappear with the money you invested into them.

How to get started with GameFi

1. Create your crypto wallet

You will need a crypto wallet to make in-game transactions, store virtual currencies and NFTs collected during the game. There are many different wallets available such as MetaMask, Phantom, etc. Most games require the use of specific wallets, so be sure to visit the game’s official website to see which wallets it supports.

2. Connect your wallet with the game

Unlike traditional games that require a username and password, blockchain games use your crypto wallet as your account. To avoid scams, only use wallets downloaded from official app stores that are explicitly linked to the wallet’s official website. In addition, as an extra precaution, it is recommended that you use a different wallet address for each game you play.

3. Add funds to your wallet

In order to purchase any initial items such as characters or native coins that are needed to play the game, you will need to pre-fund your crypto wallet with a compatible cryptocurrency.

Conclusion

NFT Gaming uses NFTs (non-fungible tokens) and creates an environment for players to interact with each other. Together with GameFi, NFTs have gained much more use in the world of digital assets, which has made them appealing to a group of people who also expect real-world use from them, not just acquiring them for collecting purposes. GameFi has opened up other ways for us to make money through NFTs, and to top it off, have fun playing the game at the same time.

Personal Opinion

NFT gaming has only reached public awareness recently, and in a short time this field has gained a huge amount of attention. The fact that people can have fun while making money by gaming is a dream come true for many of us. This industry has a long way to go in the future, and during that time solutions will have to be found for the many problems associated with NFT gaming. You can follow the entire journey with us at CharlieGaming.com.
Despite all the positive information you’ll find about new games on social media or in influencer videos, remember that you always need to do a thorough analysis of the project. “Play-To-Earn” is a very popular label for NFT gaming, but playing it is not without risk. In many games, you are facing potentially high initial costs, which you can quickly lose due to the high volatility of the crypto market. Therefore, always enter NFT games only after careful analysis. DYOR!