NFTs are one of the foundations of web3. This series will introduce NFT through 30 short articles, allowing everyone to understand and master the relevant knowledge about NFT from scratch.
From the popular Axie in Southeast Asia to the explosive StepN last year, game NFTs are a huge oil field. This article will explore game NFTs and metaverse NFTs.
Game NFTs#
Gaming may be one of the largest industries in the Web3 field, from game NFTs to GameFi. Gaming has become a very large industry (larger than the film and music industries combined). And players have already spent a lot of money in the digital world. NFTs can further enhance the gaming experience and give more actual power and rights back to the players.
People who play video games will spend hundreds or even tens of thousands of yuan to buy skins and equipment in the game. However, these digital items owned by their game accounts do not fully belong to them. Once they exit the game, these items are not tied to the players, but belong to the game company. NFTs allow items in the game to exist in the form of NFTs through blockchain, so even if players exit the game, these NFTs exist independently in the players' wallets, and they belong to the players rather than the game company.
Of course, some people say, "I play games to relax and have fun." Now, NFTizing items may bring concerns such as money, ownership, and finance. Game projects and communities need to find a balance between "fun of the game" and "NFTization" to empower games without affecting their fun and playability.
If we look at it from a larger and longer-term perspective, giving the items obtained and purchased by users in the game to users in the form of NFTs will promote the realization of game asset ownership, which is beneficial for both players and the development of the game.
Metaverse NFTs#
Many people are skeptical about metaverse NFTs, and understanding the concept of digital land and the value of digital land requires a certain threshold. After all, we might think, "Physical land in the real world is unique, so it is valuable. Digital land can be generated infinitely, so where is the value?"
Let's use the physical world as a comparison—a piece of land in the wilderness compared to land in New York City. Why is land in New York City so valuable? Because of the infrastructure and people around it. There are jobs, companies, stores, and entertainment facilities here. All of these can be established in the digital world, and the value of digital land will exist due to people's recognition. With the establishment of brands, operations, and value consensus, there will be a huge difference in value between digital lands.
Some people believe that metaverse land should be free, while on the other hand, the value of metaverse land is constantly breaking through. Which one is right? There is no right or wrong answer. In the long run, the value of metaverse land will coexist in various forms.
In terms of metaverse NFTs, there are some projects that have been developed for a long time, including The Sandbox, Decentraland, Somnium Space, and Webaverse. Of course, there are also newcomers like The Otherside by Yuga Labs.
Alright, this article ends here. If you are interested in game NFTs and metaverse NFTs, you can try playing some NFT games and metaverse products.
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