With the arrival of blockchains and many more cutting-edge technologies, the community is observing a new genre in gaming. NFTs are a big thing in the current tech and financial markets. They are considered as unique digital collectibles and are usually based on cryptocurrencies. Now that this trend is appearing in the gaming world through play-to-win parties, we thought it to be the best time to show you what are NFT Games and how do they work.
What are NFT Games?
NFT Games do not mean that you hold the Non-Fungible Tokens in your wallet or digital bank. In these types of games, NFT is part of your rules, interaction with players, and almost every possible game mechanic. Even your unique character or avatar can be represented as an NFT. The basic element does involve swapping or trading your NFTs with others.
How do NFT Games Work?
Most people will wonder if they have to purchase NFTs and then implement them into the game mechanics. However, that is not the case as the developers do create something called Smart Contracts. These are basically self-executing pieces of code stored on a blockchain that make up the rules for the use of NFTs.
Play-to-earn NFT games such as Axie Infinity give players the chance to generate an additional income stream. They allow players to earn tokens for numerous activities in the game. Along with that, some games allow you to earn tokens for playing their game for a longer time period.
Can I Lose my Money?
As we mentioned earlier, these are tech and financial tools that have been cultivated into the gaming environment. Of course, there is a chance of you ending up losing money. However, the sum of money can only be determined by the games you are playing and the value of the collectibles you have.
Without proper research and financial knowledge, best to spend what you can afford to lose in NFT games. Almost like crypto investments, these type of games are not without risk.
That’s all there is on what are NFT games and how do they work. While you are here, make sure you check out our Guides tab for more content with Gamer Tweak.