NFTs seem to be making shockwaves within online communities, and the gaming industry is certainly no exception. There have been more than just a few attempts from bold companies who have tried to implement NFTs to some extent in gaming, and despite their fleeting success, it is only likely that more studios are going to follow suit.
However, many people are unsure whether or not NFTs have what it takes to truly break into the gaming industry, and as we are going to discuss later in this article, there are a plethora of reasons both for and against why this may/may not be the case.
NFTs seem to be all the rage at the moment
If you keep up with popular culture or just happen to read up on all of the latest news in gaming, you will more than likely have seen a myriad of content focusing on NFTs. Whilst this coverage may not always be positive, it would be an understatement to say that NFTs are a hot topic at the moment, and the amount of attention this topic is getting is more than ever before.
When it comes to the question of Why NFTs are popular within popular culture, there are a plethora of reasons. However, unfortunately, perhaps the main driving factor behind the sudden influx of NFT endorsees is money.
There has been a near-constant stream of celebrities coming out with their own NFTs, and it is blatantly obvious that most of the said celebrities have no idea what NFTs even are.
This has made NFTs somewhat of a meme in the gaming industry, and most gamers are set on not falling victim to the common NFT swindles that are taking place today. That’s not to say that NFTs are a scam or don’t have potential. When used for the right reasons and not just as a cash-grab, NFTs are a nifty innovation, and they have a number of uses that could easily make them fit for use in gaming.
However, you know the saying; any publicity is good publicity. If it wasn’t for all the negative press that NFTs have received, it is highly likely that no one, including the gaming community, would even know what they are.
NFTs are a perfect fit for virtual landscapes like online casinos or MMOs
Taken at face value, NFTs would actually be an amazing addition to the online world. NFTs could provide people with unique items or distinguishing features in-game, and this is something that has been proven to be loved by players. Moreover, when you add in the fact that you can trade NFTs, this could create tremendous value for certain rare/unique entities.
You will make sure you don’t miss the newest PayPal casinos when all of a sudden players can have a chance of winning an in-game hat that is worth upwards of millions of dollars. Moreover, this logic can also be universally applied to the entire gaming industry, and there is no doubt that people would love to flaunt their expensive/one-of-a-kind NFT accessories in-game.
It is hard to fully explain just how perfect of a fit NFTs are for situations like we mentioned above, and in reality, systems like this have already been in place for decades in certain genres. For example, it is not uncommon for incredibly rare World of Warcraft mounts to go for hundreds of thousands of dollars, and this is almost the exact same premise as an NFT.
The only real difference between the previously mentioned example and an NFT is that an NFT would be entirely unique and one of a kind, only further adding to the value of a particularly sought-after item. It only makes sense that NFTs will make their way into the game industry at one point or another, and in reality, if it wasn’t for all of the negative perceptions people have about them, they would likely be welcomed with open arms if done right.
The community has said their piece
Despite how promising the premise of NFTs is in video games, the gaming community has made it absolutely clear that they want nothing to do with this endeavor for the time being. This is not only represented by the general perception gamers hold about NFTs, but it is also being reflected in real life.
It’s no secret that Ubisoft’s recent NFTs were a failure, and this was with an idea that was fairly decent compared to some of the other blatant cash-grabs splurged out by other companies. However, for anyone who is willing to look, the answer as to why Ubisoft’s venture failed is immediately evident.
Ubisoft has garnered a somewhat negative reputation over the years, with most of the community citing them as soulless or grey. This company is notorious for putting out unfinished games in an effort to further increase its profit margin, and there are few other companies out there that are as looked down upon as Ubisoft.
Following this, it makes perfect sense why their recent NFT venture failed. When you pair a company with a less-than-stellar reputation with a concept that is notorious for being a cash-grab, it is pretty much a recipe for disaster.
However, even if a well-respected company were to come out with a set of NFTs at this current time, it is incredibly likely that this will be looked down upon by the community. Gamers just don’t like NFTs, and from what we have seen so far, we can’t blame them.
So, what do you think about NFTs’ involvement in gaming? If you are like the majority, you probably think this is all akin to one big joke. As things stand now, it is not looking very promising for NFTs, and most gamers would laugh at the thought of spending their hard-earned cash on a non-fungible token.
However, this doesn’t mean that this is going to remain the case. Who knows what the future holds, perhaps NFTs make a new exciting development that makes gamers everywhere jump for joy. Only time will tell. Although, as things stand now, it doesn’t look likely.