As the NFT market continues to expand and improve, new and innovative third-generation blockchain platforms have paved the way for the emerging New blockchain gaming sector to fully utilize the power of non-fungible tokens (NFTs).
The aggregate market capitalization of NFTs has now surpassed $63 billion, with several NFTs and collectibles tokens experiencing continuous price increases. Decentraland (MANA), Gala (GALA), The Sandbox (SAND), and other blockchain games have already laid the groundwork for the much-touted “metaverse,” providing users with a glimpse of what the future holds.
Although NFTs have been around for a while, they really caught the attention of the public between 2020 and 2021 due to eye-popping auction figures. Despite the initial speculative drive, with several NFTs changing hands for tens of millions of dollars, both service providers and consumers began to realise the true potential of NFTs. In 2021, for example, the NFT ecosystem saw a flurry of new and promising projects. Ardor and Tron, two prominent blockchain platforms, have also entered the fray with their own NFT games.
Polygon, Ethereum’s layer-2 protocol, is the most recent addition to this list.
Polygon has entered the NFT scene with its recently launched Polygon Studios, as part of its ongoing efforts to bridge the Web2 and Web3 worlds while actively supporting and facilitating the development of NFTs on its network. This new division will be solely dedicated to New blockchain gaming and NFTs. In addition, the platform has invested in Colexion, Asia’s largest NFTs marketplace, and has announced that it will fund 50% of all ongoing product development costs for GameOn Entertainment, a prominent game development studio.
Polygon, Ethereum’s layer-2 protocol, is the most recent addition to this list. Polygon has entered the NFT scene with its recently launched Polygon Studios, as part of its ongoing efforts to bridge the Web2 and Web3 worlds while actively supporting and facilitating the development of NFTs on its network. This new division will be solely dedicated to blockchain gaming and NFTs. In addition, the platform has invested in Colexion, Asia’s largest NFTs marketplace, and has announced that it will fund 50% of all ongoing product development costs for GameOn Entertainment, a prominent game development studio.
Play-to-earn, win-free By granting users complete ownership of in-game assets, NFT games have disrupted the traditional gaming model. As a result, an increasing number of NFT games are being released, some of which are backed by industry titans and have the potential to change the face of gaming as we know it. Here are a few NFT and blockchain gaming projects to keep an eye on in 2022.
Using NFTs, Redefining In-Game Asset Ownership
While many blockchains support NFTs and games, Ardor is one of the few that provides native support. For example, because most activities are managed by smart contracts developed by third parties, most platforms are unaware of the number of NFTs minted or traded. Although these smart contracts get the job done, relying on third-party developers introduces security risks, additional costs, and centralization – all of which are issues for both service providers and consumers.
The Ardor blockchain addresses these issues with features designed specifically to support NFT assets and tokens natively. Ardor, created by the Swiss-based blockchain Jelurida, features a unique parent-child chain architecture, as well as a multichain proof-of-stake (PoS) consensus mechanism and extensive customization options.
Mythical Beings, a card game that has gained significant traction among players in recent months, is one game that leverages Ardor’s features (along with Polygon’s infrastructure). Users can earn cryptocurrencies by collecting, buying, trading, and crafting cards in this free-to-play, play-to-earn game. Each card and character in this game is distinct and is represented by a different NFT. The higher the value, the rarer the card.
The Polygon Bridge is used by this Ardor-based game to bring its NFT collections on OpenSea, one of the largest NFT marketplaces, maximising interoperability and allowing players to access secondary marketplaces on Ethereum and other EVM-compatible chains. Because of this collaboration, Mythical Beings can provide its users with the advantages of both the Ardor and Polygon networks.
Xaya, the oldest blockchain game development platform known for Huntercoin, the first-ever blockchain game launched in 2014, is working on another promising NFT game. Autonomous Worlds, the company behind Xaya, is currently working on an on-chain version of the popular Soccer Manager Elite game. Soccer Manager Elite is a multiplayer online soccer management game that is community-driven and open-source. The game is built on Xaya’s open-source blockchain gaming platform, giving players complete control over their in-game assets, which are represented by NFTs.
SYN CITY is yet another upcoming blockchain game that will be released soon.
This on-chain version of the mafia-syndicate-themed gameplay will be completely free-to-play and play-to-earn. SYN CITY, created by a team of gaming industry veterans from Disney, Amber, Ubisoft, Roblox, and EA, as well as tech titans such as Google, Tron, Yahoo, and Twitter, is based on the concept of tokenized in-game assets.
SYN CITY, which is backed by Twitch co-founder Justin Kan and Zynga China co-founder Robin Chan’s Goat Capital, recently raised $8 million in funding to develop innovative features and in-game products for its community. Mafia-as-a-DAO (MaaD), a first-of-its-kind governance mechanism, will also be introduced in the game to help automate decisions and facilitate transactions. Users can be confident that all gameplay and rewards on the platform are transparent and provably fair with this governance mechanism in place.
Finally, Splinterlands is a fantastic blockchain game that everyone should play. This innovative play-to-earn game has dominated the blockchain gaming ecosystem on its own. Splinterlands, formerly known as Steem Monsters, allows users to earn rewards through in-game achievements, multiplayer battles, tournaments, and quests.
Splinterlands has now been the most played game for four months in a row, with the total number of active wallets on the platform reaching 670,000. The platform’s total transaction volume has approached $400,000 in the last 30 days. The Chaos Legion release and pack sale is now taking place on the platform in three stages. With one million card packs already sold, the Presale has been a huge success.
As more game developers begin to incorporate tokenization into their games, the next wave of blockchain boom will almost certainly be due to increased adoption of NFTs. NFTs are here to stay, to dominate, and to help players get the most out of their time, including opportunities to generate passive income. The blockchain gaming revolution is just getting started, and it may be in your best interest to ride this wave into 2022 and beyond.
