Gaming NFTs to revolutionise the gaming economy

Evolution and Transformation 

 

Crypto and gaming have evolved themselves over the passage of time. Crypto gaming is a decentralized form of gaming in which the respective players are able to purchase their own kinds of in-game assets and even sell them in terms of real-world money.

 

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In the world of cryptocurrency, digital assets can be traded and as the process goes on, it can undergo exchanges for real-world money. Blockchain technology can be implemented either by developing the whole game on the basis of the former or by employing it for the in-game currency.

 

With the evolution of cryptos and gaming, it has been observed that the game economy is in no way different than all those gamers purchasing accessories for, say, PUBG Mobile.Behind such an incredible evolution, the entire credit goes to the non-fungible tokens (NFTs). Some of the gaming accessories are considered as NFTs on an individual basis. 

 

The emerging DEX offering (IDO) launchpad, Starter is in support of interoperability on a line of blockchains such as Ethereum, Binance Smart Chain, Solana, Cardano and others.

 

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It has recently released the DeFi game Starchi which was inspired by the "Tamagotchi-era associated nostalgia", as observed by Lionel Iruk.Starchi will be able to carry out its operation on a dual token economy. The first token, $START will be used to grant one's access to the game and the second token, $ELIXIR will offer in-game economic incentives. 

 

It has been observed that the general interest in virtual games and decentralized assets have been developing at a faster rate. The amalgamation of the aforementioned factors would accelerate the adoption of NFT gaming.

  

Raj Karkara observed that the number of "new users and demographics switching to video games" has gained a steep rise during the pandemic. According to TheEconomicTimes, the reports say that the market capitalization of NFTs is $11.72 billion.

 

In a world where big games are generated with the sole purpose of selling them and building an in-game economy, crypto NFT-based games encourage gamers to not be only in charge of the game but simultaneously, buy the game itself and in the process, this would enable them to make millions of dollars out of it.

 

Conclusively, Ishan Arora stated, " Gaming NFTs will not only revolutionise crypto but gaming as well," and simultaneously, it would prove significant for gaming to become a key factor for crypto.