Articles
29 de June de 2023
Despite the recent controversy surrounding the status of NFTs, they are still making significant strides in the world of investments. The emergence of Non-Fungible Tokens (NFTs) has transformed the investment landscape and the realm of digital art. In 2023, a notable trend is the integration of NFTs into video games.
What’s an NFT?
An NFT is a one-of-a-kind, indivisible and irreplaceable digital representation on the blockchain network. It uses the same technology as cryptocurrencies, but unlike other tokens, NFTs are non-fungible, meaning they cannot be substituted for one another. Generally, they are bought and sold using cryptocurrencies.
NFTs can be used to represent various tangible or intangible objects or assets. Examples include artworks, event tickets, memberships, digital art, music and documents. Their distinct nature makes them valuable for representing ownership and authenticity of a particular item.
The NFT games that are generating the most buzz in 2023
Let’s have a look at which ones have generated the most hype:
1. Alien Worlds
Alien Worlds is one of the most talked-about NFT games in the market. This video game is built on blockchain technology and it uses the TLM (Trillium) token.
It’s set in its own unique metaverse in which users engage in simulated economic competition. The gameplay of Alien Worlds revolves around mining to acquire NFTs that can be sold or exchanged. These NFTs can take various forms, including parcels of land, tools, weapons and missions.
One of its major advantages is that it can be played without investing real money, although progress may be slower in such cases.
2. Gods Unchained
Gods Unchained is a card game where NFTs serve as the actual cards. Each card is unique and distinct, and players have the ability to buy and sell them according to their interests.
The game is based on the Ethereum blockchain and uses its native token called GODS. It’s a free NFT game in which players start with a set of 60 cards to build their deck, but these initial cards are not NFTs and do not belong to the player. They are meant for learning purposes.
To obtain an NFT card that is registered on the blockchain, players must combine two identical common cards, resulting in a more powerful card. The value of the NFT card increases as more identical cards are combined. Once acquired, players can sell the NFT card and convert it into real money.
3. The Sandbox (SAND)
The Sandbox is a video game built on metaverse technology. Its NFTs have shown a promising return on investment (ROI), making The Sandbox an attractive investment opportunity for many. In fact, there are rumors circulating about the possible integration of augmented reality into the platform.
Think of this video game as a parallel reality in which everything is represented as an NFT. For instance, the virtual land parcels within The Sandbox have been sold for millions of dollars, highlighting their significant value in the game.
4. Decentraland (MANA)
It follows a very similar concept to The Sandbox. Decentraland is the world’s most renowned virtual reality platform and was founded by two Argentinians. In this case, the non-fungible token (NFT) takes the form of virtual land parcels, of which there are over 90,000, and they are exchanged using the cryptocurrency called MANA, which operates on the Ethereum blockchain.
During its early days, these parcels were sold for $20, but now they are valued at billions of dollars, reaching a staggering $6 billion.
5. Axie Infinity (AXS)
Axie Infinity is an online game with millions of users worldwide. Its token, AXS, is built on the Ethereum blockchain and is considered one of the most valuable collections in the NFT space.
In this game, players control characters called Axies, which are the NFTs within the game. They can engage in battles with other players, acquire collectibles and resources, and trade them in a marketplace using the AXS and SLP cryptocurrencies.
NFT Glossary of Terms
A short glossary of useful terms:
- Token. It’s a unit of value, akin to a currency, within the blockchain. It can be fungible, like a cryptocurrency or non-fungible, like an NFT.
- Criptocurrency. They are digital coins that are stored in digital wallets and don’t have a physical form. Their technical definition can be described as follows: a digital asset that uses cryptographic encryption to ensure ownership and secure transaction integrity. It controls the creation of additional units, preventing duplication or counterfeiting.
- Blockchain. It’s literally a ‘chain of blocks’. It’s a secure, decentralized data storage system. It consolidates massive digital operations (records) into synchronized, encrypted and real-time blocks.
- Bitcoin. It’s a blockchain and the name of the most famous and valuable cryptocurrency in the market.
- Ethereum. It’s also a blockchain. Its most well-known currency is Ether. It was also the pioneer in implementing smart contracts to create and acquire NFTs.
- Drop. In the world of NFT investments, it refers to a complete art collection.
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Always remember that we are dealing with real money, so even though it may seem simple due to its accessibility, it’s important to always consult with an expert for guidance, even if you have some basic understanding.
