NFTs and Gaming: How to Offer Real Value to Players
Despite the initial backlash from the gaming community, NFTs are considered by many to be the next evolution of the internet.
With the widespread adoption of NFTs across several industries (they’re no longer just for artwork), and the already immersive nature of gaming, the industry is ideal for increased NFT adoption. In this article, Tom Fairey, Founder & CEO at Stakester, shares how NFTs must prove their utility and be clear and easy to understand for true adoption to occur in gaming.
Many gamers have a strong opinion on NFTs, and it’s not a positive one. For example, it took just 24 hours for Team17 to cancel its “Worms” NFT due to community and developer backlash. The main issue? Most feel that game publishers are trying to squeeze more cash out of gamers with no added benefit. Yet this is at odds with the general perception that NFTs are, in fact, the way forward. So what can gaming companies do?
The solution to making this work is pretty simple: provide gamers with actual value rather than develop an NFT project as a means to extract it. This requires breaking through the fabricated narratives surrounding most NFTs, beset by complications and jargon. NFTs must have utility and be clear and easy to understand for actual adoption to occur.
Play to Earn
Despite the initial backlash from the gaming community, NFTs are considered by many to be the next evolution of the internet. They’re revolutionizing the gaming industry through “pay to earn” models. Over the past few years, many games have connected to the blockchain, allowing in-game assets to become transferable outside of the game. When playing to earn, games use NFTs as characters themselves, allowing players to buy into the game, and make more money as they play along.
NFTs have entirely changed the game by enabling players to earn value outside of the game. In this way, they’re increasing the stakes and gaming dynamic. Along with the rise of the metaverse, the digital and physical lines continue to blur, and playing to earn helps bring value from the gaming world to real life.
Access Pass
Another way to keep gamers happy? Avoid the original concepts that they truly love. In other words, incorporate NFTs into your game and utilize them to offer unique experiences to players without compromising the gaming experience. For example, the Stakester app matches players who want to play for money and prizes, and NFT purchases allow users to intensify that process. This means that the inclusion of NFTs isn’t changing how you play the game or infringing on the experiences you already love. Instead, it offers new ways to earn more on the app.
With so much backlash from gamers, many publishers and developers would be wise to adopt a model that doesn’t necessarily change how the game is played. With gamers steadfast in their hesitation to adopt NFTs, they should be used to enhance the game, not necessarily transform it.
See More: New-age Ponzi Schemes: NFTs, Crypto and Everything In Between?
User Experience
As in any industry, one of the biggest challenges for game publishers, developers, and providers in incorporating NFTs is developing a seamless user experience. Despite the widespread adoption of cryptocurrency and NFTs, most games are behind the curve. Purchasing an in-game NFT is clunky, full of pitfalls and not easily accessible for most players. It is still early days for NFTs in gaming, and their complexity and poor UX designs indicate that. To move the needle and truly transform the gaming industry, we need to make it as easy as logging on to Netflix to watch your favorite show. They will come if you build it and make it easy to use.
The gaming industry is at a pivotal moment with NFT adoption. If the issue of usability, functionality and value aren’t addressed soon, gaming fans could reject NFTs outright, for good. The good news? All we need to do is offer them a solution they want and bring real value to the table. With so much innovation in the space occurring at breakneck speeds, that shouldn’t be too hard a task.
Do you see greater adoption of NFTs in gaming over the coming years? Tell us how and why on LinkedIn, Twitter, or Facebook. We’d love to know what you think!
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