OPPORTUNITIES FOR BROADER ADOPTION OF NFTs IN GAMING
By James Rodd , Head of Marketing for Gamesta
Increasing the interoperability of NFTs : Currently , NFTs are largely tied to specific games or platforms . But , as more gaming platforms adopt blockchain technology and standards for NFTs , there could be greater interoperability between different games and platforms , allowing players to use their NFTs across multiple games .
Enhancing gameplay experiences : NFTs can be used to create unique in-game items and assets that provide players with new gameplay experiences . For example , NFTs could be used to create rare , powerful weapons or vehicles that can only be obtained through gameplay or trading .
Enabling decentralised gaming : NFTs can be used to create decentralised gaming platforms , where players can interact with each other directly without the need for intermediaries . This could lead to more innovative and creative gaming experiences , as well as greater player control over their in-game assets .
Monetising user-generated content : NFTs can be used to monetise user-generated content , such as mods or custom skins . Players could create and sell their own NFTs based on their own creations , allowing them to earn money from their work and adding more diversity to the gaming ecosystem .
Creating new business models : NFTs can enable new business models for game developers , such as pay-to-play or subscription-based models . Additionally , NFTs can be used for crowdfunding game development , allowing developers to raise funds from players and investors .
“IF FINANCIAL SERVICES BRANDS WANT TO USE NFTs , THEY WILL ALSO NEED TO NAVIGATE FINANCIAL REGULATIONS ”
TOM WHITTAKER SENIOR ASSOCIATE IN TECHNOLOGY , BURGES SALMON
96 May 2023