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Video games have always been an important part of our childhood. From Super Mario Bros. to Call of Duty, every game has its own distinctive quality. But as the world has made a huge shift in this technological era, everything has evolved. Gaming has become more fun with the emergence of advanced graphics. Many gamers have made it a source of income via streaming services like YouTube, Twitch and more. Non-fungible tokens (NFT) is another concept that can improve gaming in the future.
NFT Game Helped Unemployed in Philippines
An NFT is a token persisting on a blockchain similar to cryptocurrencies. Unlike crypto assets an NFT cannot be exchanged with another NFT. Moreover, a non-fungible token can be anything digital, a user can mint even a picture of cappuccino as a non-fungible token on blockchain.
Now it connects to gaming? Honestly, gaming is the only industry where NFTs can grow at a faster pace in contrast to other sectors. Several crypto games offer the in-game items as non-fungible tokens. Currently, Axie Infinity is the most cherished game among the community. Players can either use Axies to play and accomplish various tasks in the game, or they can simply sell them as NFTs on its marketplace to generate real income.
The game helped people in the Philippines during covid-19 phase. People were struggling to get a job in the nation as the pandemic pushed unemployment to the extreme. People reported to earn around $200-$300 every week. This may sound a few bucks to some folks but it translates to over 16,000 Philippine Peso per week. That’s more than enough to feed a family in the country.
Though the idea to integrate NFT sounds amazing, traditional gamers are not in favor of implementing the concept in mainstream gaming. Still, there are companies that tried to bring NFTs into their ecosystem. In December 2021, Ubisoft announced that they are launching non-fungible tokens associated with Tom Clancy’s Ghost Recon Breakpoint. The company was eventually criticized and met with community backlash.
No other AAA title in the industry has seen a similar event since. Still, the idea of NFT is not bad as it offers the players a chance to grab some income alongside their entertainment. According to Balthazar, an NFT gaming platform, 33% of people they surveyed are willing to quit their jobs to play games. This indicates the future potential of how NFTs can influence gamers if they enter the mainstream.
Currently The Sandbox and Decentraland, apart from Axie Infinity, are preferred by the users in context to NFT gaming. The NFT and crypto sector had a high time in 2021 as both the sectors attracted myriads of users. Many experts are bullish on the future of these markets while there are some that think the opposite.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
