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How NFT Games Will Transform the Market And Upcoming Releases

CryptocurrencyFeb 28, 2021 03:00AM ET
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How NFT Games Will Transform the Market And Upcoming Releases

The potential of NFTs

NFT is the first blockchain technology that has mass-market use cases outside of cryptocurrencies and will have little or no dependence on the success of Bitcoin or other cryptocurrencies. This is because NFTs have critical software applications. After all, they are going to explode even if Bitcoin went down to zero. One of their biggest applications is Gaming.

Gaming is growing exponentially, and it is only going to get bigger as VR and AR platforms enter the market. The nature of gaming is also evolving rapidly, and people want a deeper and more interactive experience. The future of gaming sees players integrating their favorite games into their own lives.

NFTs allow assets stored in the blockchain to belong to the players, and fairness and transparency of the game mechanisms are hardcoded. By playing a game that generates yields in NFTs, players would be investing their time in valuable commodities and generating a constant income. Such potential is only being tapped by fringe-markets right now, but mass-adoption is approaching fast, driven by new technologies.

When games are based on VR, people can feel like they belong in a whole new world, but NFTs will allow players to feel like the gaming world belongs to them. There is a great need to define and authenticate ownership in VR worlds because players will be more attached to their belongings when they can see and touch the artificial world around them.

Most current games are not VR-based, and their assets can be copied and altered with no real defined ownership or authorship. The integration of blockchain can solve this problem using NFT technology to define authors or owners, and assets can become unique identifiable commodities.

Exciting upcoming NFT games of the week

Aavegotchi launch announced for March 2

The launch of Aavegotchi was announced this week. The highly-anticipated NFT game, which plans to leverage the key DeFi protocol Aave, will release 10,000 NFTs to the public. The release is called “Haunt One.”

Users will need one of the NFTs, labeled Aavegotchi Portals, to get their hands on an “Aavegotchi fren.” Aavegotchi frens are pet collectibles like the classic 90s toy Tamagotchis.

The game runs on Polygon, the Ethereum Layer 2 solution previously known as Matic, and the NFT portals can be purchased using $GHST, Aavegotchi’s native token. When a user opens the portal, they also mint 10 Aavegotchi characters. The user must then convert Aave’s Tokens and stake them as collateral to summon one of the Aavegotchis. Each collectible’s rarity is based on certain traits, and players can level up their $Aavegotchis by adding wearables and participating in an activity called “Rarity Farming.”

An Aavegotchi shop will also go live on Mar. 2, offering game items, power-ups, and a secondary market for trading rare Aavegotchis. Each portal will cost 100 GHST, or around $130.

Cometh partners with DontBuyMEME and Aavegotchi

Cometh is a DeFi powered game with yield generating NFT in which you can get spaceships, explore the galaxy and earn tokens.

Cometh offers multiplayer gameplay where players can choose to collaborate or not. The game is looking to scale up its Ethereum-based NFT integration to offer cheap mutualized DeFi services. The mechanics are based on spaceships competing to mine tokens from asteroids.

The MUST token fuels Cometh’s economics

When at rest, the MUST lets the players earn new game assets, and game mechanics are priced in MUST. NFT buyers can claim a cashback in MUST while sales proceeds are distributed in the game through the minable comets filled with tokens

The asteroids displayed in the game are smart contracts that can hold any type of token, including ERC20 and NFT. To dig the tokens out of the asteroids, the players must prove to the smart contract that they have a spaceship within the mining range. Right now, we are in a balancing phase of the game; during the first weeks, a total of ~50,000 USDT worth of tokens are released on the asteroid for the players to mine (~6,000 at release week, then ~12,000, and ~12,000 again, ~20,000 finally) and the devs to calibrate the mechanisms.

The asteroids are also used as cross-pollination between communities collaborating with Cometh. For example, there is a stunning collection of spaceships that was done with DontBuyMEME. Cometh has many similar collaborations coming. Cometh’s collaboration with Aavegotchi and the $GHST token are now live.

The developers realized that creating real wealth was super exciting for players, and in the past few months, more and more games with mechanics that are yield-generating have been cropping up.

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How NFT Games Will Transform the Market And Upcoming Releases

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