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tron-token · 3 years ago

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What are NFT games and how do they work?

NFT games have become fashionable in recent months, so more and more users want to be part of them. For this reason, we have prepared this post in which we will tell you everything you need to know about these, including some games in which you should not invest money to enter.

The term NFT has become fashionable on the internet in recent months and has served for many people to finally enter this world of cryptocurrencies and have a bit of financial profitability . The latter has also given rise to a new phenomenon, such as NFT games . And if you want to know more about this new game system that uses many of the components of cryptocurrencies, such as Blockchain technology , we invite you to continue reading.

It is important to point out that NFT games aim not to remain a simple fad on the internet , but rather due to all their characteristics and what they present to the world, as a new way of making money , it is most likely that sooner or later they will end up find their place and establish themselves among us , in the same way that cryptocurrencies have done, which little by little have been accepted and even normalized in certain parts of the world.

Next, we are going to tell you everything about NFT games, from what they are, how they work and also answer some important questions that users have. In this way, we hope that, in the end, you understand everything regarding this new economic system that is gradually gaining more followers.

What are NFTs

Before moving on to talk about NFT games , it is important to first address what NFTs are , as they are the foundation these titles use.

To do this, you must understand that, in our economy, there are two types of goods: expendable and non-expendable . The first of these corresponds to those that can be exchanged , since they have a value related to their weight, measure or number. A clear example of this is banknotes, which you can exchange for similar ones and which retain their value. Simply put, they are easily replaceable.

Then we have the non - expendable goods , which are those that can not be replaced . And the main example of this concept is works of art, since you cannot exchange them for others of a similar or equivalent value, since this does not exist.

All that said, the acronym NFT stands for the term “ non-fungible tokens ” . And, in case you didn't know, tokens are some units of value that are provided to a business scheme, as in the case of cryptocurrencies. This is important, since NFTs are related to these virtual currencies , although they would also be opposites.

An NFT is a unique good, which cannot be exchanged, replaced or modified by another of equivalent value , in the same way that it happens with the example of the works of art that we mentioned. To acquire an NFT you must buy it , because you cannot make a copy, since it would not have this value.

Currently, NFTs have been associated with works of art and many artists decide to sell their creations in this format, so interested users must purchase the certificate that recognizes them as owners of these works . And this is where a very important point about NFTs comes in: pure speculation .

It is important for you to know that NFTs work using the Blockchain, also known as blockchain . This technology is also used by cryptocurrencies, which achieve their cryptography thanks to a set of hundreds of thousands of computers interconnected with each other in a decentralized way that work with blocks of information. Each of these connects to a previous block, making a chain, hence its name, which contains information on the transactions that are carried out and their date .

As for NFTs, blockchains provide them with a kind of digital certificate of authenticity , which contains a lot of data that cannot be edited. In this way, it is guaranteed that each of these is unique. In addition, the initial value, the author and the transactions that have been made with it are also saved.

In this sense, when acquiring an NFT, there will always be a record that retains the original value with which it was launched . You should also know that the vast majority of these work under the regulations of the Ethereum network , which makes it easy to trade with them.

And this brings us to the reason why people buy NFTs. The answer is simple: speculation. Many of the users who buy these tokens do so because they believe that they will appreciate in value and they will be able to earn a lot of money. It is obvious that no one will buy the drawing of any object simply for love of it , but thinks that, in the near future, its price will increase and he will be able to get money.

What are NFT games

NFT games are characterized by the fact that one of their components is an NFT, as its name indicates. They are usually the characters, weapons or accessories that you can buy with real money . In other words, it does not matter that there are hundreds of similar avatars in the game, they are all unique and have elements that differentiate them , so they cannot be replicated or faked. Not to mention that they are encrypted within the Blockchain .

It is also important to note that NFT games often have their own cryptocurrency . So, if you want to buy one, you have to change your money, usually expressed in dollars, and convert it into the cryptocurrency that the game manages to be able to buy within it.

NFT games are also known as Play-to-earn , which translates to “ play to earn money ” . And this is the reason why they have become so popular today, because users can earn money with these , although in some cases they require an economic investment first.

The economic system of NFT games can vary depending on the title . However, in general, the most common way in which users earn money with these is through achieving victories in the game modes of these , because when they do, they receive some internal currency or cryptocurrency that has a real value. on exchange platforms , such as Binance , which is one of the most used.

Another way in which you can make money with NFT games is through NFT items that are valuable due to their extreme rarity , since these can be sold later. And related to this, if you acquire the NFT of a character, which you improve by leveling it up and equipping it with accessories , you will be able to sell it later for a higher price and recover money.

NFT games and money: how much do you need to start and how much can you win

This is a very interesting question and one asked by many users who want to get started in this world of NFT games.

We mentioned earlier that many NFT gaming platform requirements require an investment of money to get started. This is because they follow a scheme where the characters are the NFTs, so to build your team with which you are going to compete , you have to buy them.

The amount of money you need to start will depend solely on the NFT game you want to play. And, in turn, this is determined by many internal factors within it, since the economy of these games tends to vary , reaching peak rises and also times when their value drops a lot.

An example of this is Axie Infinity , one of the best and most popular NFT games for Android. In order to enter this NFT , you need to purchase a team of 3 Axies , which are the characters. And when the gaming token was at its highest, it took even just over $1,000 to get in . However, now that its price has dropped and the market has stabilized a little more, well, do it for considerably much less.

It is important that you investigate, because another factor to take into account is that there are characters that are more valuable than others and that will help you progress more. So these will cost you more money. And this brings us to the other extreme: How much can we earn from NFT games?

Users are known to have made millions of dollars from NFT gaming development, so we can say that their profit potential is very high. However, this will depend on many factors, such as the stability of the market, whether it is an inflationary token or not, the performance we have during the games and, therefore, the tokens we receive , as well as the popularity of the game. If more users enter the game, they are going to invest, so the price is going to skyrocket.

Before you get started on any NFT game, we recommend that you do some research on it and analyze its stability over time , the amount of money you need to start with, and the profit potential it offers you.

4 free NFT games you can try

Not all users can afford to invest money in these NFT games , or do not want to, so the question arises whether these Blockchain titles exist , but are free. And the answer is yes, although you should know that the profit potential is lower compared to those in which you must invest , but this does not prevent you from playing them and accumulating enough to make the jump to that type of NFT. And if you want to read a more extensive and complete list of NFT games for Android , we invite you to read our post.

Currently, some of the best free NFT games that you can try are the following.

cryptopop

Dragonary

MIR4

God's Unchained

It is important to point out that Axie Infinity announced that it was working on a Free-to-Play version , in which we would not need to invest money to start playing. However, for now, this solution has not been released , so we must continue to wait.

It is an NFT game that you can download to your Android mobile and whose gameplay is similar to that of Candy Crush Saga . But the difference is that here you can earn some tokens, for watching ads and winning games, which you can exchange for Eth .

It is very similar to Axie Infinity , since you must assemble your team of dragons to start fighting against other users from all over the world. But the main difference is that you don't need to spend any money to get started , as the game gives you 3 dragons for free which you can use to start your adventure. Obviously you can spend money and advance faster, but it is not mandatory.

It is one of the free NFT games that has given the most talk in recent months . You can download it for free on Android and it's one of the most complete, as it allows you to create your warrior from scratch and start your adventure in this fantasy world. Basically to earn money with this title, you need to reach level 40 , which will allow you to collect a special material that you can later exchange for the DRACO token that the game handles.

Finally, we have Gods Unchained, which is an NFT card game similar to Legends of Runeterra or Hearthstone, with the difference that it allows us to earn some money . Its gameplay is simple as you have to build your deck to fight many games against players from all over the world and defeat them to receive certain reward prizes.

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tron-token · 3 years ago

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What are NFTs and how to use them in an online marketing strategy

NFTs, cryptocurrencies and the relationship between the two concepts have become a recurring topic of conversation. It is, without a doubt, a complex issue on which there are many questions. Are we witnessing a change in the economic paradigm or is it just a passing fad?

What are NFTs really and how are they used?

One thing is for sure: The development of NFTs are changing the way digital content is created. According to the data collected by Nonfungible.com in its annual report on the NFT market , this new digital financial environment has generated a turnover of 10,000 million dollars in the last four years . Taking these figures into account, it is important to assess what their role will be in the design of online advertising strategies.

What are NFTs?

NFT stands for Non- Fungible Tokens . A non-expendable good is one that is not consumed by its use and cannot be substituted or exchanged for another. Consequently, NFT represent units of value assigned to this type of goods within a digital context. More specifically, an NFT is a digital certificate of authenticity that, through transactions made with cryptocurrencies, generates a digital asset linked to a unique piece.

The operation of NFT is based on blockchain technology , just like cryptocurrencies. Through a chain of blocks, put into operation by users, an encrypted database is created that allows all kinds of online transactions to be carried out. While cryptocurrencies represent a fungible good, NFTs represent the opposite side of the same coin.

NFTs on digital platforms: a rising value

Having defined what NFTs are, it is important to clarify that it is the main currency for the acquisition of goods or services in digital environments. According to the project The Virtual Economy of L'Atelier BNP Paribas , this model is based on markets where the publisher of a platform facilitates the transaction of digital assets in the form of cryptocurrencies. The main virtual markets for this type of asset are:

The very nature of the metaverses is closely tied to the development of NFTs. Virtual experiences and goods are monetized through non-fungible tokens which, in turn, work through the exchange of cryptocurrencies. According to Bloomberg Intelligence forecasts, the metaverse business can reach a volume of 800,000 million dollars in 2024 , a figure that gives a good account of the relevance that virtual environments are acquiring.

The news that Facebook has gone Meta and launched its own Metaverse has put the spotlight on the possibilities that this new technology opens up for digital business. However, different digital worlds such as Decentraland , Cryptovoxels or Somnium Spaces have been operating for some time and have been allowing their users to acquire plots, works of art or VR experiences through blockchain technology.

The development of NFT gaming has been a true revolution in the video game sector. While the big platforms are studying the possibilities of including non-fungible tokens in their products, play-to-earn video games or NFT gaming platforms have more followers every day among the gaming public.

It is a modality of online games developed based on blockchain technology. In these games, some of their elements are made up of an NFT that can be acquired through a cryptocurrency transaction . These tokens can be anything from tools, weapons or cars to clothing or housing for the avatars.

Recently Twitter has activated the option to include NFT profile photos for its users, while Mark Zuckerberg has announced his intention to also add them to Instagram profiles , in accordance with the new vision of Meta. For its part, TikTok continues its consolidation as an advertising platform. To this end, it has launched its own NFT broadcast channel, TikTok Top Moments , in which it shows a selection of audiovisual pieces that can be purchased using tokens.

How to use NFTs in online marketing strategies

The production of content for digital environments has launched what is known as the creator economy , an industry that, as a result of the pandemic, experienced unprecedented growth. Based on data from GP's Technology Predictions 2022 report . Bullhound , the creator's economy already exceeds one hundred million dollars in profits.

In this context, NFTs can be a differentiating element in branding-oriented strategies . Some of its advantages are:

They create added value through unprecedented experiences for users.

They are a way of interaction with a multitude of possibilities.

They have a wide variety of formats , which makes them a resource adaptable to different audiences.

Its use has a great impact on the brand image and shows its interest in the latest trends.

Being an emerging sector, it is important to determine the characteristics of the potential audience to generate effective KPIs. A study carried out by the Deusto Business School on the habits of young people born between 1995 and 2005 reveals that one of the points that Generation Z values most in their interaction with brands is adapting to their way of understanding life.

If we take into account that the main users of the metaverses are in this age group, as well as their vision of the crypto economy as a way to build their financial future, the use of NFTs in the branding strategies of brands is almost mandatory. Therefore, the design of advertising strategies adapted to the interests of this generation will be decisive for the performance of brands in the new scenario.

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