NFT has become a common buzzword around the Internet in the last couple of years. People stand on both sides of the cutting-edge phenomenon. Some are firmly against it due to its unnecessary nature and its effects on the environment. Others support NFTs because of the sense of security it could give artists and how it works to support creators monetarily.
The idea of a gaming NFT is brand-new, and the opinions of gamers are just as divisive as you might think. Regardless of whether you love or hate NFTs, you can’t deny that talk of gaming NFTs will continue and possibly revolutionize the future of games.
What Is an NFT?
A Non-Fungible Token (NFT) is a digital asset similar to cryptocurrency. However, instead of monetary values, these assets are often in the form of some digital media. Memes, GIFs and even tweets have been bought and sold as NFTs. They’re prone to scams, just like cryptocurrency scams exist. Anyone who wants to invest in an NFT must do careful research to ensure that the one they’re going for is legitimate.
The “fungible” part might be confusing to some people. Just like these tokens are non-fungible, you might know some things that are fungible. For example, currency can be fungible. You can break a $100 bill into two $50 bills. You can further break those two $50 bills into five $10 bills, and so on. It’s known as “fungible” because it can be broken down into other forms. Non-fungible tokens cannot be broken down from their original condition, which makes sense as they’re typically items that originated on the Internet.
Still, people shouldn’t overlook how much electricity it takes to generate cryptocurrency. NFTs are particularly concerning, as the carbon output is outrageous. Just one NFT release can consume the same amount of energy as a studio in nearly two years. After realizing this fact, many companies paused selling NFTs. As such, finding the best gaming NFT might not be within reach yet for those interested.
How a Gaming NFT Might Change the Industry
Despite many companies refusing to create NFTs now, there’s still a chance for a gaming NFT to pop up here and there. Since NFTs are growing in popularity, several companies will likely start to sell bits of their games for a profit — maybe to create further developments in future games or create something brand-new.
By providing NFTs from the get-go, some indie developers may finish their games faster. Since the sale of NFTs would go directly into their wallet, they could use the funds to outsource work or focus more on their game rather than another job or side hustle they’re working.
It all depends on a game’s fanbase whether NFTs will take off. A few fanbases have spoken out against certain games and series implementing NFTs due to ecological concerns, while others support the NFT movement. NFTs sometimes give a sense of people owning things while not owning anything physical.
Similarly, some people who don’t understand NFTs may be reluctant to adopt them. Smaller companies may not know what they’re doing as they create NFTs. Anything with cutting-edge, interactive technology requires a slow and thoughtful approach, especially concerning what people think of the topic. Your favorite game may offer NFTs soon, or they may choose not to after looking at the fanbase’s opinion.
Are NFTs Good or Bad in the World of Gaming?
Unfortunately, the answer isn’t so clear-cut. As with most things, you’ll find pros and cons to NFTs in the gaming field. Fortunately, through the sale of NFTs, more independent publishers may be able to create games faster and more effectively when they previously couldn’t.
Still, you can’t deny the detrimental effects that processing NFTs can have on the environment. Before partaking in NFTs, you should question if something is worth buying as you consider the negatives of purchasing one.
Only around 50% or fewer people seem interested in purchasing NFTs in the near future. That number could change with the emergence of gaming NFTs. Only time will tell whether NFTs will become widespread in the gaming community and just how many publishers will offer them — and in what form.