Considering how well the traditional gaming market has been performing since the advent of COVID-19, the future of flourishing NFT gaming platforms shouldn’t be questioned at all. Promising, revolutionary, transparent, and profitable for all parties involved, NFT games are about to fill in that niche left vacant by old-school games.
With the GameFi and play-to-earn (P2E) philosophy behind their backs, NFT game developers heavily bet on the community of gamers who treasure innovation as well as the opportunity to combine entertainment and financial profit. That’s why more and more studios are launching NFT gaming platforms that will function as a one-stop shop for everyone.
Each modern NFT game development company pursues a goal of creating an ultimate product that will encompass attractive gameplay, secure blockchain system, plenty of in-game NFT collectibles, etc. Well, this article will shed light on how NFT gaming platforms will benefit the industry in the future and what options you have to build one of them.
What Is an NFT Game Platform and How Does it Work?
Non-Fungible Tokens (NFTs) constitute a cryptocurrency whose each item (token) can’t be exchanged for another of the same value because every NFT serves as a unique unit stored on a blockchain. Notably, in-game assets like characters, weapons, or other artifacts achieved through gameplay can be traded for NFTs that hold unparalleled value.
Interestingly, what is the difference between an NFT game and an NFT gaming platform? Whereas the former implies merely a game offering an option to earn cryptocurrency, the latter serves as an all-in-one solution. More specifically, on a platform, users not only play and earn but also trade NFTs, communicate, and share experience. However, the difference is vague and barely comprehensible in most cases.
What gamers can do inside an NFT game?
- earn money while playing;
- accumulate unique in-game collectible items;
- trade crypto on third-party marketplaces.
NFT gaming platform
What does an NFT gaming platform offer?
- everything that ordinary NFT games provide;
- social networking;
- in-built marketplaces;
- the ability to function as an NFT game constructor;
- more game expansion prospects;
- the opportunity to be turned into a metaverse in the future.
Thanks to smart contracts underlying the operations of blockchain technology, NFT gaming platforms are decentralized and secure. Although developing an NFT marketplace for gaming is a challenging endeavor, upon achieving this goal, you’ll be able to provide your audience with all the features they may ever look for on an NFT game platform.
The Advantages of NFT Gaming Platforms
If you opt for building an entire platform upholding your future NFT game, you encounter a whole load of short- and long-term benefits. With a ready-made technological foundation, you’ll be able to add extra “layers” to your initial product, thereby maximizing the value for the audience.
Primarily, building an NFT gaming platform presupposes:
- Coming up with an attractive game concept and mechanics;
- Designing & developing or choosing an already functioning blockchain;
- Creating a marketplace where players will sell and buy items for cryptocurrency;
- Negotiating with third parties for additional services;
- Planning what types of interaction and services will be available to your players.
Apart from preparing the platform and laying the groundwork for your upcoming NFT game, you’ll need to either develop the product with your in-house resources or outsource the entire process to an experienced studio.
1. Security & Transparency
Thanks to decentralization provided by a digital ledger on a blockchain, your NFT game will remain secure and transparent. Not only will you save your product from cyberattacks but also protect user data from being compromised by third parties, which is a powerful advantage that comes with blockchain technology.
By tokenizing your game assets, you ensure transparency and safety of ownership rights. In other words, your players will have more motivation to purchase or earn in-game items qualified as NFTs through gameplay activities. Furthermore, they will be more confident in the acquired certificates of ownership due to a transparent blockchain system.
2. Diverse Business Prospects
Whenever NFT game companies are willing to expand the range of provided services, creating a platform for such projects can prove a rewarding venture. Why so, you may ask? Merely because an NFT gaming platform opens up a plethora of business opportunities, including digital marketing for third parties, product placement, additional services, etc.
With an already functioning platform, you’ll be able to incorporate any additional services, while your NFT game continues to bring value. Conceptually, it may operate as a marketplace, social media, shop, auction, and cryptocurrency exchange site, let alone that you’ll have an opportunity to change your NFT product into a metaverse in the future. Besides, you can always put our metaverse consulting services to good use and bring your product to the next level.
3. Long-Term Project Profitability
As a platform, your NFT game will bring about more benefits as it functions from year to year. In the long run, you’ll gather a high number of loyal customers and fanbase around the project, implying the possibility of integrating new services and bringing in third parties to expand the scope of provided functions. Besides, with a properly functioning game platform, you can create a lot of NFT games and other products inside an integrated system.
Though the value of in-game NFTs depends on market fluctuations, the price for game assets will stay relatively the same, given the global interest in blockchain as well as cryptocurrency. As The Block Research suggests, NFT trading volume has increased from $2.67bn in December 2021 to $6.86bn in January 2022. Sounds promising, right?
Unlike traditional games, which function exclusively on centralized servers prone to data breaches and cyberattacks, NFT game platforms are interoperable. What does this buzzword mean? Simply put, players will be able to use their in-game assets, which are NFTs, across various environments and platforms. A great bonus, though.
5. Immutability & GameFi Benefits
What happens with servers and player assets stored on them when traditional games cease to exist? Correct, everyone loses everything. Nevertheless, a similar situation is unlikely to occur with NFT gaming platforms because they are decentralized, ensure interoperability, and all the user data are stored on a distributed ledger.
In contrast to traditional gaming, benefits brought about by P2E and GameFi principles will attract far more players across various demographic groups interested in earning financial profit as they play. After all, it’s no surprise that not everyone enjoys playing video games in their pure form, but most people won’t give up the idea of earning money during the process.
NFT Gaming Platform Development Process
If you already know how to create an NFT game, the process of developing a related platform won’t be too complicated. Still, there are some aspects to learn about.
1. Define the concept and core mechanics. Will your NFT game platform be an arcade, real-time strategy, or casino? Identify principles, mechanics, and concepts before jumping into development.
2. Plan, allocate resources, and negotiate with stakeholders. Take time and don’t make haste. Research the market and competitors to gain more insight into what blockchain and the cryptocurrency you find most potentially profitable in the long run. Also, seek partners and define what services you’ll be able to provide inside your NFT game.
3. Find in-house developers, hire a dedicated team, or outsource everything. Depending on your project scope, budget, and purposes, you may require a different development approach as well as business model. Better consult experts before making a final decision.
4. Build a blockchain system from scratch or pick the existing one that best fits. Whether you go with Ethereum, Binance Smart Chain, Azure, or any other, the purpose here lies in integrating a blockchain that suits your business needs.
5.Develop the game itself or have it developed by professionals, integrating blockchain elements afterward or vice versa. Just like any other product in the industry, your NFT game development must rely on concept art, 2D or 3D models, game engine, back-end, UI, and other crucial technical constituents.
In case you don’t have relevant expertise or a team of specialists for this project, partnering with a professional NFT gaming platform development company would be handy. Thus, all the crucial and additional stages can be performed of high quality but for a shorter period.
Build a Stable NFT Game Platform with Game-Ace Services
Once you’ve researched the industry and learned everything about NFT game platform development, you’ll need a reliable partner whose experience speaks for itself. Keep in mind that, as a game creation studio, Game-Ace has already delivered dozens of commercially successful projects, some of which are based on NFT platforms.
With an experienced outsourcing studio, you’ll significantly save development cost and move your focus toward more important business-related tasks. Simply contact us, and we’ll immediately schedule an online meeting where you’ll be able to discuss your future project in more detail.