FinTech Magazine - May 2023 | Page 99

CRYPTOCURRENCY
offer . Another safeguard could be to limit the frequency or cost of purchasing NFTs , to prevent players from spending more than they can afford or becoming addicted to the thrill of obtaining rare items .
“ Game developers can also consider implementing age verification systems to ensure that minors are not participating in NFT offers or using blockchain marketplaces to trade virtual assets . Finally , regulators may need to be involved in setting standards and guidelines around the use of NFTs in gaming to ensure that consumers are protected from fraudulent or deceptive practices .”
What should we expect to see in future ? Despite the regulatory issues that need to be carefully navigated , Rodd is still positive about the ability of in-game NFTs to add an exciting new dimension to video games . “ The use of NFTs in gaming is still in its early stages , so we can expect to see significant changes in how they are used in the future ,” he says . “ One trend we can expect is greater integration of NFTs into gameplay mechanics , with game developers leveraging the unique properties of NFTs to create innovative new gaming experiences .
“ We can also expect to see more partnerships between game developers and blockchain companies , as game developers look to leverage the technology and expertise of blockchain companies to create new gaming experiences .
“ Overall , the use of NFTs in gaming is likely to continue to evolve and grow in the coming years , as game developers seek new ways to engage with their audiences and monetise their intellectual property . As with any new technology , though , there are risks and challenges that will need to be addressed – including issues around consumer protection and regulation .”
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