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5 Ways Blockchain Gaming is Paving the Way for Mass Adoption of NFTs & Cryptocurrencies

This year has certainly been The Year of the NFT. We have seen a boom in NFT art, NFT collectibles, and most recently NFT gaming. Those who follow the NFT scene closely will already be familiar with a documentary which was released a few months ago about how Axie Infinity’s (cute NFT pet game) play-to-earn model is helping communities in the Philippines survive the current global predicament.

Not only did people of all ages learn the complexities of the game, but they also learned how to use crypto wallets and earn money in completely new ways. This has raised many questions on the ways blockchain games will disrupt the traditional gaming model. Not only that, but blockchain games are paving the way for mass adoption of NFTs and cryptocurrencies more than any other use case so far. For gamers, the value NFTs bring to ownership is very clear and players attach real value to their digital items.

Let’s take a look at 5 major ways in which blockchain games are paving the way for mass adoption of NFTs.

Crypto Education

Those who are new, or were once new, to NFTs will know that there are some crypto concepts you need to learn to navigate the space with ease. Blockchain games give players the opportunity to gain knowledge and experience in NFTs through monetary concepts such as scarcity, supply and demand, and crypto-economics while playing. NFT games also have the power to onboard people from around the globe into the crypto-economy through gamification of the crypto market. Players become crypto and NFT-savvy by learning to use Uniswap, decentralized exchanges, and local wallets to cash out.

Job Creation & Collaboration

Blockchain games and play-to-earn will facilitate the creation of a new type of job market – employment in the metaverse. We have already seen the first step towards this massive transformation in Decentral Games, the world’s first metaverse employer. DG metaverse employees see the upside of this new type of job which allows for complete remote work, a team-oriented environment, flexible hours, and opportunities to develop cutting-edge skills.

I can pick the hours that won’t affect my school work and also allow me to not miss any time with friends and family and that is something I’m extremely grateful for,” Ethan, a Casino Host says of his schedule. “In fact, I can work more than double the hours at DG than I’d be able to work elsewhere all from the comfort of my home.” This new niche of work is a huge step forward for everyone.

Gaming and socializing in the metaverse might still be unfamiliar to many, but this is quickly changing as more companies come together to collaborate and create new experiences and opportunities for their users. “We are seeing companies move from the box model, to a free-to-play, and now a play-to-earn,” Jeremy Dela Rosa, founder and CEO of Leyline, said in an interview. “The market is transitioning from a competitive approach to a more collaborative one.”

Ownership of Assets

The potential for crypto-economics to let gaming communities participate in the success of the games they love is very real. For gamers, the value of NFTs is immediately obvious. The new model of play-to-earn which blockchain games are offering gives power back to individuals by facilitating ownership of assets they purchase and earn. The traditional gaming model is based on a closed system where game publishers are the ones who own participation in the economic potential of gaming communities. It is almost impossible for players to earn a profit from virtual items and accessories they have earned while playing.

Another issue with traditional gaming is transferability, the main challenge being that all the digital accessories, skins, maps and worlds created within a specific ecosystem or platform are “locked” into that game. That means if a young player is spending all of her or his allowance on customizations for one game, all of that is lost if the game goes away in its entirety.

However, NFTs can open the door for interchanging and transferring skins and other items between different games. This can allow players to get more use out of the skins and items they buy for one game, and be more likely to splurge on customizations that are versatile and won’t be lost.

Community

We have already seen the power of NFTs to build and form tight-knit communities of enthusiasts. In the Play-to-Earn documentary, one of the most encouraging outcomes was neighbours teaching each other the tactics of Axie Infinity as well as crypto concepts and how to use crypto wallets. Gaming communities are of course, nothing new, but in terms of play-to-earn, they will take on a whole other meaning as people come to learn and succeed together (and spread the NFT gospel).

Positive Impact

Blockchain games and NFTs can play a major role in creating a positive impact not only on communities but also the environment. Leyline, a non-profit company looking to gamify environmental and social sustainability, is working on developing collectible NFTs that people can earn by doing good social deeds that have a beneficial impact on the environment and their communities.

Previously, we have also seen several blockchain gaming companies raising money for charities through NFTs. For example, Gala Games, a successful blockchain gaming platform and Opera (NASDAQ: OPRA), one of the world’s leading browser developers, recently joined forces for a good cause. They held an exclusive NFT auction where 100% of the proceeds were donated to Mercury Corps Ventures, which helps people join the global economy and lift themselves out of poverty.

Earlier this year Enjin, an information technology company focused on NFTs and blockchain gaming, also launched a charity platform with the SENS Research Foundation. To attract more people, the companies teamed up to gamify the fundraising process and award donors with NFTs.

These are just some of the many ways in which blockchain games are empowering the NFT movement. In the not-so-distant future we are likely to see many new avenues for positive impact arising. Now is the time for change.

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*All investment/financial opinions expressed by NFT Plazas are from our site moderators’ research and experience and are intended as educational material only. Individuals are required to research any product before making any investment thoroughly.

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