Why is Blockchain Gaming Related to the NFT Market?
Who isn’t aware of the heart throbbing effect of Blockchain and cryptocurrencies? Well, the Blockchain and its army are steadily infiltrating the gaming world. The NFT gaming market soared in November 2021 by touching a mark of $31 trillion unexpectedly. The reason behind this rise in the gaming industry is attributed to the Non-fungible tokens.
The surging demand for NFTs and the creators that indulge in structuring gaming NFTs expect a whopping potential of the upsurge in blockchain game development. Of all the highs and lows of the crypto market, the NFT market is the forerunner of achievements and has shown steadiness with minor fluctuations.
Dive into some NFT Stats
The digital sector has been hit hard for nearly six months. However, the NFT flourished in the dark times and experts further suggest a bullish scale of nearly $13.6 billion by 2027. If we talk about the NFT gaming market, it is pounding its limits with a growth rate of 2000% and beyond in the year 2021. Optimists firmly believe the NFT gaming cap to reach $4 billion and above along with the birth of Metaverse, the figures are likely to overwhelm the nation. Therefore, high probabilities lure within a decade and we could witness an optimistic growth in the field of Blockchain gaming.
The Interconnection between the two: NFTs and Crypto Game
Traditionally, the gaming sector was limited to mere entertainment for young adults and posed numerous limitations within the gameplay. But later with the introduction of cryptocurrencies, the gameplay has modified the mindset of gamers. More and more youth are engaging in the never seen opportunity of NFT gaming. Another reason behind the rise of NFT gaming attributes to the play-to-earn NFT gameplay that offers leverage to earn huge cryptos and NFT in the in-game module. Hence, top gamers have found an outstanding source of earning while playing in the international market.
Further, the monetization opportunities that NFT gaming impart are free of censorship and other legal boundations. Hence, the youth is largely attracted to the gameplay and refers to their play-to-earn games as “GameFi” symbolizing the decentralized aspect of the gaming world.
The relationship between the NFT and a crypto game is surely an unbreakable one. Because NFTs are not exclusively utilized for gaming, it is however circulated to generate revenue in the global market. Moreover, as NFTs are purchased with Ether, the crypto coin Ether market capitalization has expressed a steady growth over a long period of time.
Infiltration of NFTs into Blockchain Gaming
With the passage of time, the NFTs have influenced gaming to heights that could never be attained before. Several in-game NFT purchases offer GameFi titles with opportunities for passive income. One such game known as Attack Wagon allows players to own a piece of NFT land as an asset for trade in other markets.
Moreover, they have featured a special limited collection called “ATKcollection” with a digital token range between 0.0069 - 100 ETH. Such an extraordinary opportunity gives seamless opportunities for investors to catch a shark in the global world.
Besides this, another popular game called “The Sandbox” collaborates decentralized autonomous organizations (DAOs) with NFTs to popularize personalized in-game assets for adventurous gameplay.
In Conclusion
Apart from the surging NFT stats, the incorporation of Blockchain in gaming is driving Blockchain development companies to roll up their sleeves. Amidst the burgeoning NFT gaming, choosing an outstanding NFT game development company could be a tedious task to achieve. However, Blockchain game development company like Webllisto Technologies is among the top runners in the IT sector. We excel in the Blockchain arena and impart exceptional and cutting-edge NFT game development services over the globe.
Due to the promising NFT gaming future, the blend of our technical expertise and NFT game developers makes the NFT gaming project exceptionally exclusive. Your gaming project is accomplished by our diligent NFT game developers that render optimized gameplay which is ready to attract gamers worldwide.
About Webllisto Technologies: Webllisto Technologies is a leading organization for software, app and website development services, and one of the Top IT Companies in Indore. The company has a dedicated team of developers, who are serving worldwide. The company renders NFT game development services, and also it provides top-notch Solana blockchain development services, defi wallet development services, metaverse development services, and more. Book your appointment with the consultants and freely ask your queries!