The next generation of games is the participatory digital goods economy. A new type of digital entertainment, these non-fungible tokens (NFTs) are virtual representations of different types of in-game items that players can obtain and trade on a secondary market.
Previously, games were just a one-time purchase that would be played to completion. Now, with NFTs, players have an incentive to keep playing because they can earn more tokens to use for other gameplay elements.
In addition to being a potential new gaming avenue, social games using NFTs as a currency provide an opportunity for developers to explore new forms of gameplay as well as monetization models. These types of games also open up opportunities for those who have been disenfranchised from the traditional gaming industry due to gender, race, disability or other factors.
The Future of Gaming
Though the gaming industry has always been growing, one of the newest trends in the industry is digital goods. Digital goods are in-game items that players can purchase with real currency, but they also have an extra layer of uniqueness. Participatory digital goods (NFTs) represent in-game assets that cannot be duplicated or transferred to other players.
This new type of game revenue offers many benefits to developers and gamers alike. NFTs provide players with the incentive to keep playing because they can earn more tokens to use for other gameplay elements. This keeps players engaged and interested in a game for longer than before. It also provides opportunities for developers to explore new forms of gameplay as well as monetization models.
NFTs also open up opportunities for those who have been disenfranchised from traditional gaming due to gender, race, disability or other factors. This means that everyone has an opportunity to play games and enjoy their favorite experiences without feeling left out or discriminated against.
NFTs and Social Games
NFTs are virtual representations of different types of in-game items that players can obtain and trade on a secondary market. Previously, games were just a one-time purchase that would be played to completion. Now, with NFTs, players have an incentive to keep playing because they can earn more tokens to use for other gameplay elements.
NFTs provide new opportunities for game developers. Because these tokens are tradable, it opens the door for social games with NFT-based currencies that require people to cooperate by exchanging or gifting in order to advance in the game. For example, developers could design games where one player does not want certain items but another player does and thus needs them—meaning both players need to interact with each other if one desires the other's asset.
Additionally, social games using NFTs as a currency provide an opportunity for developers to explore new forms of gameplay as well as monetization models. These types of games also open up opportunities for those who have been disenfranchised from the traditional gaming industry due to gender, race, disability or other factors.
The New Generation of Entertainment
The next generation of games is the participatory digital goods economy. A new type of digital entertainment, these non-fungible tokens (NFTs) are virtual representations of different types of in-game items that players can obtain and trade on a secondary market.
Previously, games were just a one-time purchase that would be played to completion. Now, with NFTs, players have an incentive to keep playing because they can earn more tokens to use for other gameplay elements.
In addition to being a potential new gaming avenue, social games using NFTs as a currency provide an opportunity for developers to explore new forms of gameplay as well as monetization models. These types of games also open up opportunities for those who have been disenfranchised from the traditional gaming industry due to gender, race, disability or other factors.
Conclusion
The future of entertainment is coming, and it’s here to stay. As NFTs and social games take over the market, we’ll see a new type of hobbyist emerge. These individuals will be more active in their gaming habits, more interested in the gaming world, and more inclined to buy games. This new generation of gamers will have a lot to offer to the industry, and gaming will never be the same.
