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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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  • Metaverse
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    Experience to Earn: Everdome's Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

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  • AI
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    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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  • Guides
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    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
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    • DeFi
  • Web 3
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

  • Gaming
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    IN-Match3 Joins Forces with Adventure Layer to Scale GameFi, Boost Accessibility & Profitability

    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

    Crypto Casinos Made Over $80 Billion in 2024

    Crypto Casinos Made Over $80 Billion in 2024

    A16z-backed Spekter Games founder shares Telegram gaming ethos

    A16z-backed Spekter Games founder shares Telegram gaming ethos

    How Mobile Apps Are Quietly Adopting Web3 Tech

    How Mobile Apps Are Quietly Adopting Web3 Tech

    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

    Location-Based Gaming NFTs: How GPS and Blockchain Are Changing the Way We Play

    Avalanche Game ‘Forgotten Playland’ Implements NFTs in Biggest Update Yet

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    Floki’s Valhalla Fires Up 4-Week Programmatic Display Push Across Target Markets

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    Key Innovations, Challenges, and What Comes Next

  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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Home Gaming

NFTs in Gaming: How Non-Fungible Tokens Are Changing the Industry

September 10, 2024
in Gaming
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Are CS:GO/CS2 Skins NFTs? Understanding the Distinction and Predicting Future Trends
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Non-fungible tokens (NFTs) have been making waves across multiple industries, and the gaming world is no exception. The unique characteristics of NFTs—namely their ability to certify ownership, uniqueness, and authenticity—are proving to be game-changers in the gaming industry, just like jaxon is. From new revenue streams for developers to enhanced user experiences for players, NFTs are influencing both the economics and the creativity behind game design.

What Are NFTs and How Do They Work?

At their core, NFTs are digital assets stored on blockchain networks, making them verifiably unique and scarce. Unlike cryptocurrencies such as Bitcoin, NFTs cannot be exchanged on a one-to-one basis because each token holds distinct attributes. This characteristic makes NFTs ideal for representing digital collectibles, art, or any item requiring proof of ownership and uniqueness.

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In the context of gaming, NFTs can represent in-game items such as skins, weapons, characters, or even virtual real estate. What sets them apart from traditional in-game assets is that NFTs can exist outside of the game’s environment. This means they can be traded, sold, or bought on various marketplaces, often leading to real-world monetary value for virtual items.

Ownership and Control for Players

One of the most significant ways NFTs are changing gaming is by giving players actual ownership of in-game assets. Traditionally, in-game items are owned and controlled by the game’s developers or publishers. If the game servers shut down, players often lose access to these assets. With NFTs, players truly own their in-game items, and these items exist independently of the game.

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This shift in ownership leads to several advantages for gamers. First, players can take their NFTs to different platforms, creating an interconnected metaverse where items can be used across different games. Second, players can sell their items on secondary markets, potentially making a profit. This new level of control and flexibility enhances the gaming experience, giving players more autonomy and freedom.

New Revenue Streams for Developers

For developers, NFTs present a lucrative opportunity to create new revenue streams. By minting in-game items as NFTs, developers can earn royalties from every secondary market sale. This is a significant shift from the traditional model, where developers only earn revenue from initial sales or microtransactions. With NFTs, each time a player sells or trades an item, a percentage of the sale can be programmed to return to the developer.

This model also opens doors for new types of games that rely less on pay-to-win mechanics and more on player-driven economies. Some blockchain-based games are already experimenting with this by allowing players to earn NFTs through gameplay, which can then be sold or traded. This creates a self-sustaining ecosystem where developers earn from secondary markets, while players can earn money through playing.

The Rise of Play-to-Earn Models

NFTs are fueling the rise of play-to-earn (P2E) models, where players are rewarded with NFTs or cryptocurrencies for their time and effort in games. This concept flips the traditional relationship between players and games. Instead of spending money on in-game purchases, players are compensated for their participation. Games like Axie Infinity have become pioneers of the P2E model, enabling players to make a living by collecting and trading NFTs.

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Conclusion

NFTs are revolutionizing the gaming industry by reshaping ownership models, creating new revenue streams for developers, and introducing play-to-earn mechanics. However, their rise also presents challenges, from environmental concerns to potential inequalities in gameplay. As the industry evolves, it will be crucial for developers, players, and regulators to work together to harness the benefits of NFTs while addressing the issues they bring. The future of gaming may well be intertwined with blockchain, but how that future unfolds remains to be seen.

Main Image: Unsplash

  • Guest Post

    The views and opinions expressed in this guest post are solely those of the author, and do not necessarily reflect the official policy or position of NFT News Today.

    View all posts

Tags: changinggamingindustryNFTsNonFungibleTokens

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