What is NFT Game – What is a nft game ? Overview of investment trends in 2022
What is NFT Game – Game NFT trends have made 2021 quite exciting. Cryptocurrency market, now with the presence of gamers and game developers… So, What is NFT Game? Is investing in NFT Game a risk or an opportunity? Also check out the article.
What is NFT Game? Overview of investment trends in 2021
Disclaimer: The content of the article is only the personal opinion of the writer. Not investment advice. Cryptocurrency investment is always risky, in addition to lucrative profits. Read carefully the information, invest the amount you accept to lose and make the final decision yourself.
What is NFT Game?
What is NFT?
NFT (short for Non-Fungible Token) is an identifier token that cannot be copied, replaced or divisible. This token is recorded in the blockchain (blockchain) and is used to validate ownership and other related specific rights.
Artwork: What is NFT game?
In a nutshell: NFTs are items encrypted with blockchain technology (blockchain), the main purpose of which is collectible. Before the advent of NFTs, collectibles were only physical. Until NFTs were born, products such as pictures, recordings, etc. were digitized using blockchain technology, very convenient for buying, selling and collecting.
I take 2 examples of NFT and FT (Fchangeable Token) as follows:
- Example 1: Ethereum (ETH) is the token of the Ethereum blockchain network. ETH is Fungible Token. Anyone can own ETH tokens, only the amount is different.Example2: The FIRST tweet of Twitter CEO Jack Dorsey. This Tweet is NFT – unique. Someone bought this Tweet, for $ 2.5 million
Twitter CEO Jack Dorsey’s FIRST tweet
An overview of NFTs
How does NFT work?
The majority of NFTs will be issued on the Ethereum blockchain, with popular token standards such as ERC-20, ERC-721, ERC1155, ERC998. Next is Binance Smart Chain, Polygon…
What are NFTs used for?
The characteristics of NFTs are unique and limited. The current use of NFTs is for collection purposes.
In 2020, NFTs are applied to works of art, recordings, etc. They are sold for profit. For example, Beeple’s “Everydays — The First 5000 Days,” sold for $69.3 million – by far the highest-selling NFT work in the world.
Game developers have combined blockchain technology to create NFTs games, this trend is booming in the crypto market in 2021. In addition, in the future, NFTs combined with blockchain technology, will create many more applications. other useful uses for humans. There are many areas that need to be limited and unique (the characteristic of NFTs), such as voting, real estate, etc.
Limitations of NFTs
The interesting fact is, the value of NFTs has not been calculated exactly. For interested groups only. Beeple’s painting “Everydays — The First 5000 Days” may be of value to those who are passionate about pictures. But maybe not worth a dime for those who aren’t interested in it. As a result, item pricing NFTs remains difficult.
What is NFTs Game?
NFTs Game is a combination of NFTs and Game. Profits from game NFTs come from many sources, such as: playing games to get items and converting items to game tokens, trading game tokens, selling game NFTs, investing in tokens of game-related applications: marketplace (where NFTs are bought and sold), the network that the game develops (Ethereum, Binance Smart Chain, Polygon…) …
NFTs games first appeared at the end of 2017, with the game Crypto Kitties. In the game, each player has a special cat that does not match anyone else’s. This is what makes it attractive and attractive to players.
NFT Game Trends 2021
In 2021, due to the impact of the Covid-19 epidemic, the trend of working from home increased sharply. Therefore, the demand for entertainment, especially playing the game “Game to earn” increased sharply..
The fact that the big guys “keep an eye” and pour capital into the NFT Game, makes this market much more exciting. Game developers have more financial resources to develop more great games. Specifically, in May 2021, according to Nikkei, American billionaire Mark Cuban and a number of other investors spent $7.5 million in a series A round of funding into Vietnamese game startup Sky Mavis. Sky Mavis is known as the manufacturer of Blockchain Game, in which the most famous game in the world today is Axie Infinity.
The tweet of CZ – CEO binance
If 2020 is the year of Defi (Decentralized Finance), 2021 could be the year of GameFi (Game Finance). It is not known how long this trend will last, but this should be considered an attractive investment opportunity.
CZ – CEO of Binance – the world’s largest digital currency exchange, commented: #GameFi, not just a digital currency to buy assets in a game. They are integrated in so many aspects of the games, spending, monetization, exchange, player purchasing power, player retention, everything. Its power cannot be ignored by any future game maker.
Top 3 NFT Play to earn games in early 2021
Axie Infinity (AXS)
Game Axie Infinity, can be called the game that opens the NFT game trend and is the most successful in 2021. Because, in just 1 week in 7/2021, the revenue of the game Axie Infinity (AXS) has reached $ 84.9 million in revenue. . The current market capitalization of AXS token is more than 4 billion VND
Artwork about: Axie Infinity (AXS)
Especially, this is a game product of Vietnamese people, developed on the Ethereum blockchain platform (led by CEO Mr. Nguyen Thanh Trung), born in 2018.
Game Axie Infinity is a combination of ideas between Pokémon games and CryptoKitties. Players build groups of three pets, sending them to battle for rewards. These rewards, used to buy other items at the market (Marketplace) on the game. Activities on the game Axie Infinity include
- Battle (Battling).Spawn Axies (Breeding).Build land (Land).Trade goods (Marketplace).
Axie is the soul of this game. Each Axie in the game can be purchased and owned in NFT form. The player feeds Axie with SLP (Small love potion). SLP is earned through playing and completing in-game quests. NFT & SLP items can be exchanged for AXS tokens and sold on exchanges for profit.
Token Information AXS
- Blockchain (Blockchain Network): EthereumContract: 0xf5d669627376ebd411e34b98f19c868c8aba5adaTotal Supply (Total AXS Supply): 270,000,000 AXS.Circulating Supply: 60,907,500 AXS.MarketCap (Market Cap Value of AXS): $4,0319,619,619
Token Information SLP
- Blockchain: EthereumContract: 0xCC8Fa225D80b9c7D42F96e9570156c65D6cAAa25Total Supply: UnlimitedCirculating Supply: 1,011,192,020 SLPMarketCap: $188,577,454
Exchanges that support buying and selling AXS and SLP tokens:
Alien Worlds is a Play to Earn game genre developed on the Binance Smart Chain network. The game simulates planets in virtual space, each planet will have different resources. The player’s task is to exploit these resources, the tool for mining is TLM tokens. So, to play the game, players have to buy TLM tokens.
Artwork: Alien Worlds
Detailed information about TLM Token
- Blockchain: Binance Smart Chain.Token Standard: ERC-20, BEP-20 & WAX.Contract: 0x88888848b652b3e3a0f34c96e00eec0f3a23f72Total Supply: 500,000,000 TLM.Circulating Supply:14,030,370.25 TLM.MarketCap: $258,705,321
Exchanges that support buying and selling TLM tokens:
My DeFi Pet
Looking at the interface of the game, you can imagine, this is a game about raising virtual animals such as bats, spiders, dogs… a combination of Defi (decentralized) with NFTs, developed by TopeBox on Binance Smart Chain and KardiaChain. Players (palyers) earn DPET tokens by playing games, raising monsters, and selling items for profit.
Artwork: My DeFi Pet
DPET . Token Details
- Blockchain: KardiaChain.Token Standard: KRC-20.Contract: 0xfb62ae373aca027177d1c18ee0862817f9080d08Total Supply: 100,000,000 DPET.Circulating Supply: 6,878,202.33 DPET.MarketCap: $44,742,285
The exchange supports the purchase and sale of DPET . tokens
NFT Game Investment Opportunity in 2021
In addition to investing in game tokens like AXS, TLM, SLP, DPET… Then around NFTs there are also interesting things like Market places, VR… The pieces around NFTs can be mentioned like
- Token Game: FARA, AXS…Marketplaces: like Terra Virtua Kolect (TVK), Dego Finance (Dego)Collectives: Unisocks, Meme, …Infrastructure: Darwinia, Flow, …VR: Sandbox, Decentraland, ……
I take an example of a blockchain network used to develop NFT games:
Although, most of the NFT games are developed on the Ethereum blockchain network. However, a delicious piece of cake will have many mouths wanting to eat. Binance Smart Chain by Binance has been implementing many applications to conquer the fertile world of NFT (Binance launches NFT Marketplace in June 2021).
Next, is Polygon. Polygon has established Polygon Studios to fully serve the Game & NFT ecosystem. If you follow Polygon’s Twitter, you will see, there are many NFT game projects being and will be developed on the Polygon network. But to buy game tokens on any network’s Dapps application, the most economical way is to use that network’s token. For example, if you trade on Pancakeswap, use CAKE, similar to Polygon, you must use MATIC…
Polygon founded Polygon Studios
Back, Ethereum, if they realize their gas fees are too high will affect the users. Surely they will have to come up with a solution. That solution is Layer 2 Ethereum. In a nutshell, Layer 2 helps Ethererum process transactions faster, reducing gas fees – transaction processing fees. Always ask questions and search for more information, which will help you understand the project and see good investment opportunities.
Layer 2 helps Ethererum process transactions faster
You can search for NFT tokens on Coinmarketcap
In short, the opportunity to invest in NFT games is still there. After a while, I personally (Not investment advice), am targeting low-cap NFT coins, haven’t Lanch game but especially that Game must be of good quality.
The NFT game has been heating up the market in the last few months of 2021. If you are looking for investment opportunities in this field, check out many projects. If possible, you should avoid coins that have risen too strongly, to avoid swinging to the top. Good luck.
- 1 What is NFT Game – What is a nft game ? Overview of investment trends in 2022
- 2 What is NFT Game?
- 3 NFT Game Trends 2021
- 4 Top 3 NFT Play to earn games in early 2021
- 5 NFT Game Investment Opportunity in 2021
- 6 Goodbye