October 26, 2022
3 min read

NFT Utility: Gamified NFTs explained (with examples)

The play-to-earn concept used by NFT games enables gamers to make money as they play. Additionally, gamers can earn money by buying and selling in-game NFTs or completing tasks for cryptocurrency rewards.

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Vicky Petrova

Digital assets like digital images, memes, and videos may now be exchanged thanks to Non-Fungible Tokens (NFTs). The play-to-earn concept used by NFT games enables gamers to make money as they play. Additionally, gamers can earn money by buying and selling in-game NFTs or completing tasks for cryptocurrency rewards. And it’s a new way for game developers to monetize their work. 

By fusing gaming and blockchain technology, GameFi enables players to sell and exchange gaming resources and get monetary rewards. All of these gaming resources are skillfully programmed as NFTs, which have a ready market for a variety of players and can also be made available for purchase.

Redefining gamification with NFTs

Crypto gamification became very popular during the Covid-19 pandemic, and many company owners went into it to make a living. The following are some advantages for gamers:

Investing through gaming

Playing video games is a form of entertainment, and for some people, it has even turned into sports. It was only profitable for professional players in the past, but now, regular gamers can sell or trade their accumulated goods for cryptocurrency.

The capacity to earn a wage may compare to a full-time job

If you enjoy playing games, you can now take part in play-to-earn cryptocurrency games. You can earn $100 each day in some NFT games, and you can earn much more money if you sell assets when their value has increased. But it might take time to earn a livable income. Therefore, it may be a good idea to have some supplementary sources of income for financial support.

Verified ownership

Using blockchain technology, gaming NFTs store all of their data in their source code. By decoding it, you can learn more about the creator of a specific NFT and its ownership history. When an NFT is given to a new owner, a copy of this record is stored in the blockchain codebase. As a result, since ownership can be independently verified, there is no room for impostors.

In-game NFTs

1. Mobile Legends

Mobile Legends: Bang Bang (MLBB), one of the most well-known multiplayer mobile games in the world, is a Multiplayer Online Battle Arena (MOBA) game that encourages cooperation among players. It boasts over 100 million active monthly players.

While MLBB is not a cryptocurrency game, it is a mobile game that has introduced The Aspirants Mystery Box, its first-ever NFT collection, to the world of NFTs. MLBB NFTs can be purchased by players. On January 19, 2022, The Aspirants Mystery Box was introduced. Layla and Fanny, two well-known female MLBB heroes, are featured in the collection, which includes 12 special mystery boxes with four different grades and each holding a digital figure and unique animations of the characters.

2. TheTan Arena

TheTan Arena is a free-to-play blockchain-based MOBA and BattleRoyale e-sport NFT game that emphasizes the integration of player talent and teamwork.

The gameplay of TheTan Arena is rather straightforward: defeat your opponents as quickly as you can while racking up as many points as you can. The player who scores the most points for the team wins the game and is recognized as the MVP (most valuable player). Players can purchase a variety of in-game TheTan Arena goods to get started in the game through Binance NFT's secondary market, including the TheTan Genesis Mystery Box.

3. Summoners Arena

Summoners Arena is a blockchain MMORPG that mixes DeFi and NFT and is built on BNB Chain (formerly BSC), with a focus on an economy-driven structure. Players must strategically organize their resources, equipment, and characters in this game.

Each Hero in the game is represented as an NFT and is ranked according to their Tier and Rarity. Players can enhance their Heroes with various body parts that range in rarity from 1 to 10, optimizing in-game performance. 

Betting NFTs 

With the popularity of cryptocurrency betting, there is a desire to infuse the betting sector with new, potent technologies. NFT technology, which has several potential integrations with betting, is at the forefront of this effort. For instance, the introduction of NFTs as wins rather than conventional cash prizes is the main idea behind NFT integration. If you win your wager on a sport or esports market, you will normally use fiat currency and get the same fiat winnings back. However, if you were to engage in NFT gambling, you might instead win NFTs as opposed to actual money. Similarly, there might be a feature that lets you stake NFTs rather than actual money on your bets. It has a similar idea to CSGO skin betting where participants place bets using expensive CSGO skins as wagers, and if they win, they receive additional skins. 


Fantasy sports NFTs 

Battle Infinity's presale 

Battle Infinity established itself as a fan favorite among investors right away. Its 90-day-long cryptocurrency presale was canceled after only 25 days due to overwhelming demand for the IBAT tokens. The presale demonstrated that IBAT was among the best cryptocurrencies to purchase, but an exchange listing that followed only marked the start of Battle Infinity's prosperity. 

There will be an increase in participants for NFT games like Battle Infinity as the fantasy sports market expands. A price increase for the token should coincide with the rise in demand for IBAT as a result of the huge player base. By joining the Battle Infinity Telegram channel, players can keep up with the most recent game improvements.

While still in its early days, the NFT craze might be just the right choice your brand makes right now. Relite aims to empower businesses via NFTs, a $300B market, by opening the funnel for NFT mainstream adoption. We help retail brands like yours implement a custom-tailored NFT strategy that will keep you on the edge of the competition.  

Want to sell NFTs on your website? The Relite creative team is here to assist! If you are not sure where to start but you want to innovate, contact us today to discuss the best NFT strategy, specially tailored for you.

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