Non-Fungible Token (NFT) video games are somewhat of a hot topic in the crypto space these days. Digital currencies like bitcoin and even “joke coins” like Shiba Inu are on the rise. You can use cryptocurrencies to make various transactions. Along with all of this new technology came NFTs and now NFT video games. We’re here to help you decide whether or not you should invest in NFT video games. Here’s everything you need to know.
What Are NFT Video Games?
If you’ve seen Ready Player One your imagination may be running wild when you think about NFT games. We aren’t quite there yet, but NFT games are rising in popularity. They are yet another way investors are getting in on the NFT crypto craze. Most of the games have some kind of built-in system that allows them to make money while they play.
Currently, there are a handful of relatively popular NFT video games out there. Some of the most popular titles include Alien Worlds, Arc8, Axie Infinity, CryptoBlades, Splinterlands, and MOMO Farmer. Many of these allow you to mine cryptocurrency as part of the game’s objective. A few of these games are beginning to stand out as potential money makers for investors.
The Future of NFT Video Games
When you consider the possibilities, it sounds like the future of NFT gaming is fairly bright. However, when it comes to what the experts have to say, the future of NFT video games is a mixed bag. Forbes recently published an article calling NFT video games “pointless.” While NFTs can be turned into games, the writer pointed out, games cannot be NFT-ified.
NFT games have also been facing some scrutiny from gaming platforms. Valve, for instance, banned all blockchain and NFT games on Steam, one of the largest gaming platforms in the world. While that doesn’t bode well for NFT games right now, other platforms may step forward to host. Epic Games has fully embraced crypto and NFT video games.
At the same time, EA, another leading name in the gaming world, called NFT video games “the future of our industry.” EA hosts a number of gaming competitions and other events each year. It would be interesting to see how the organization approaches integrating crypto into the platform.
Bottom Line: Don’t Invest in NFT Video Games…Yet
Of course, as the popularity of NFT video games increases, they will become a more valuable asset. The best advice you can give anyone when they are looking to make a new investment like this is to do your research. They need to know what they are getting themselves into. More importantly, they need to understand how exactly their investments can help them make money.
Right now, there isn’t enough information available to make a smart investment when it comes to NFT video games. If you are wrestling with whether you should invest in NFT video games or not, don’t. Wait until there is more data available about performance and take the time to learn about cryptocurrencies, NFTs, and how gaming fits into the picture. And, as always, never invest more than you can afford to lose.
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Drew Blankenship is a former Porsche technician and lifelong automotive enthusiast. Recently, he began writing for several websites and is enjoying the career change. He lives in North Carolina with his wife and their dog Enzo.