NFTs and gaming could have been considered two distinct elements of avenues that would never intersect… But the evolving landscape of gaming and the demands expected out of NFTs seem to suggest a future that would be completely contrary to the status quo that existed until recently.
Gaming and NFTs have become an inseparable duo because of the symbiotic advantages they have got to offer.
Gaming has been in Vogue for quite some time. The years 2020 and 2021 could be considered the golden age of NFTs… And it is made evident in the skyrocketing of NFT prices. It was common to see NFT sales happen in millions of dollars if not billions.
The tremors that shook the crypto landscape have had their shockwaves affect the NFT space as well. This may have come up on the surface, leading to a little downward blip in NFT consumption and values. However, this was a blessing in disguise because it helped people distinguish awesome NFT projects from mediocre ones.
One of the most obvious utilities that NFTs could explore was in the space of gaming. The infusion of NFTs into the gaming world acted as the silver bullet, especially for gamers who had little apprehensions about spending their money on gaming assets that had limited shelf life.
The year 2022, and a small chunk of the last quarters of 2021 could be considered the era of ushering NFTs into gaming.
The year 2023 is expected to be the stage at which NFT gaming grows out of its adolescence into maturity. At this crucial stage, these are the NFT gaming trends to watch for in the year 2023.
Mainstream gaming will become more NFT-centered
It has been just a few days since Sony filed its patents for using digital collectibles in its console gaming ecosystem. The PlayStation is one of the faces of the tall totem pole of gaming, and if they venture into the NFT space, it is a clear sign that the gaming landscape is changing.
When mainstream gaming companies get into NFTs, (we are not just talking about console manufacturers but also game development companies) you can definitely expect the hard-core classic gamers a.k.a. gaming purists become more familiar with concepts of NFTs and the advantages that they bring to the table.
Brands will look at gaming as a metaverse brand building platform
It is not new to have brands get into sporting arenas. No… we’re not talking about sporting brands like Nike but totally unrelated brands like Emirates or Samsung sponsoring football teams. Since a lot of games will move into the metaverse, you can expect brands to mark a significant presence in the virtual digital universe.
It would not be surprising to see full-fledged metaverse sporting tournaments happen with brand collaborations and sponsorships. This new age digital platform will also give brands an opportunity to enhance their visibility, especially among a crowd that is digitally aware and available!
P2E will become more prominent as a means of livelihood
Until recently, gaming could be described as engaging, entertaining, and exciting but surely not rewarding… At least not in a monetary sense. However, infusing NFTs and gaming has resulted in the creation of a new arena of gaming and an avenue of monetization called P2E.
We have seen P2E games impact the livelihood of people in the Southeast Asian region. We have also seen the metaverse P2E cricket game, Meta Cricket League by Jump.trade grow immensely in popularity and adoption in India and other regions of the planet where cricket is popular. With this trend in place, it is quite likely that a lot of people will engage in and earn with P2E games.
Just like how being a ‘content creator’ would not have been a serious profession about a decade ago but is a lucrative profession now, being a ‘gamer’ would soon be considered a serious profession!
Interdependent gaming ecosystems would start sprouting
If we were to take complete advantage of NFTs and their permanence, it is important to create an ecosystem where the advantages can be constructively exploited. One of the ways in which it can happen is to have games where one NFT can be used in multiple games.
On the surface, it might seem counterproductive because a single NFT having utilities in multiple games might attenuate the sales progress. However, it also has the likelihood of increasing the appeal of the NFT which might indirectly help in increasing sales volumes through increased adoption and penetration.
The year 2023 has all the credentials and eligibility to be the annus mirabilis that the world of gaming needed. If calculated extrapolations and the measured intuitions of the experts in the industry have to be believed, it will be one of the most transformative years for gaming, for NFTs, and for NFT gaming!
By-Ramkumar Subramaniam, Co-Founder and CEO of Guardianlink