NFTs aren’t just entering the gaming market, they’re becoming a part of the games.
Last month, GosuRabbit discussed how non-fungible tokens (NFTs) and cryptocurrencies are becoming integrated into the gaming and esports scene. But whilst esports organisations continue to partner with crypto companies, video game developers are looking to bring NFTs into their games.
One such game is Axie Infinity, which has already gained national coverage due to its intriguing play-to-earn gameplay. Players collect small pets called “Axies” which can be fought in battles against other players in a turn-based card game.
The reason why Axie Infinity has become so popular is because of the big market surrounding pets. Each Axie can be bought and sold on the game’s marketplace. Over the past 30 days, just under two million Axies have been sold, totalling around 390 million USD in Ethereum, according to the marketplace’s website.
However, Axie Infinity is far from the only video game to be based around NFTs. Famous British game developer Peter Molyneux is close to releasing a new business simulation game, Legacy, that uses its proprietary cryptocurrency, LegacyCoin. This is where players in the game can build their company from the ground up and control every aspect, from the workers to the sprawling town.
Whilst the game isn’t scheduled for release until 2022, parcels of land in the game have already been sold for insanely high prices. According to IGN and Rock Paper Shotgun, the most expensive plot sold for 900,000 USD, with the game as a whole bringing in over 53 million USD.
The dollar amounts show the level of commitment that gamers and investors are putting into these crypto-based games. With the potential to make actual money off of playing video games, some people have even quit their jobs to become full-time crypto miners in these games.
As more gamers are buying into crypto-based games, the success of Axie Infinity and Legacy shows how NFTs and cryptocurrencies are becoming a major force in the gaming market. As the blockchain rapidly gains popularity and crypto-based games become more widely known, it’ll be interesting to see how far this trend can last and if it’ll be a part of gaming’s long-term future.
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