How do NFT Games Make Money?
One of the common ways most NFT games earn money is that they take a small percent of transactions that take place by selling different NFTs on their respective marketplace, this is how they make most of their money. Many NFT based games also require you to pay one time upfront fee for participating in the game. For e.g in Axie Infinity which is one of the most popular NFT based game requires you to purchase 3 Axies to participate in the game.
The percent that each company charges may vary. If you’ve been exploring the NFT Space then you must be familiar with OpenSea which is the current biggest marketplace for selling all kind of NFTs, they charge 2.5 % of each transaction. Lets say 10 ETH worth of art of mine gets sold on the marketplace, from which only 7.25 ETH lands in my pocket and the rest is the cut taken by OpenSea.
Current Thoughts on NFTs
1. Blurring The Lines Between Traditional Gaming Model And Blockchain Technology
I personally think the blockchain technology will eventually become a integrated part of the traditional games. And we will be looking at purchasing in-game cosmetics based NFTs in the same way as we look at in-app purchases in games today. Although I don’t think in-app purchases that exist today will go away, but rather the users will have option to choose.
2. More And More Micro-Transactions
There is currently some resentment in gaming community against bring NFTs into the games, and many well known youtubers have been speaking up about their concerns over the same.
Although I think the role of blockchain in gaming is inevitable, there are still gaming companies like SEGA showing skeptism over Blockchain gaming on whether or not will it affect the creativity of the gaming industry as a whole.
This keeps rising my hopes as a person who loves playing video games, that at least there is some concern and people in power are putting some thought into where this is going.
3. Role Of Metaverse In All Of This
The crazy hype and amount of money that is being poured into the owning, trading NFTs is going to be hugely outnumbered by not just only of excitement of owning “Non-fungible 3D items” NFTs in Metaverse but by normal use also. Lets say there is an upcoming concert by some famous singer in Decentraland(Virtual World) and you go and buy some tickets for you and your friends, so the ticket which you each possess will be an NFT, the same way how you use digital tickets today but the only difference is that they will be more secure.
I am Pratham Basava, founder of Lokkythegamer.
Lokkythegamer is a fairly new video game website that started a couple of years ago. My main motive behind starting this website was to provide latest content exclusively focused on gaming and eventually creating a platform useful aspiring video game bloggers and gaming enthusiasts to help publish their articles in front of wide range of audience. It is currently being managed by a me alone without any co-writers due to financial limits, which affects the amount of content I work on everyday including social media.
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