The consumption of NFT products has exploded in 2021, with the sale of NFT products rising by incredible amounts each quarter this year. According to Reuters, sales of NFTs surged to $10.7 billion in the third quarter of 2021, an eightfold increase over the previous quarter.
Clearly, the appetite for NFT products has risen immensely this year, and with it so has the hunger for NFT games. NFT games possess a unique array of advantages over traditional games and also over the stream of NFT art that has largely driven the NFT boom this year.
On the one hand, NFT games give traditional gamers the ability to reap profit off the time investment that they traditionally invest in games, being able to convert 100 hours of gaming into real monetary profit, where traditional game don’t offer this option.
Additionally, NFT Games give power back to the gamer and away from companies that enforce or encourage frequent spending on upgrades that give zero value beyond the actual gameplay. As such, NFT games have the potential to change the traditional gaming ecosystem as we perceive it today as a core component of GameFi.
The Play-To-Earn model has already been reaping huge numbers with games like Axie Infinity and Alien Worlds. The latter of these revealed that it had reached 11 million daily transactions in late October, while Axie Infinity has been the most-talked about NFT game of the year, reaching $2.3 billion in sales volume since it launched in 2018. Axie Infinity’s token AXS now trades for around $120, with an ATH of $155, putting it at #27 in terms of Market Cap Rank, showing the value and growth potential for successful crossover NFT games.
While these games have attracted large numbers of players, the questions about building a game that has built-in and interesting lore and background, excellent gameplay and good design remain. Additionally, NFT Games have been forced to come up with replies to questions about soaring gas fees on platforms such as Ethereum.
Traditional gaming companies are split on NFT gaming. Valve recently announced the removal of blockchain games from its gaming platform Steam because of high fees and volatility. On the other hand, Epic Games, the creator of popular game Fortnite, announced that it is open to hosting games that use blockchain technology and cryptocurrencies.
As we move into Q4 of 2021, the state of the ecosystem of NFT gaming is in rapid flux. Gaming companies are cognisant of the need to create better quality, immersive games that draw in gamers via quality narrative and story-telling as well as good design. Galaxy Blitz wants to break down these boundaries with its strategy NFT game that is build precisely on a bedrock of intriguing and powerful lore, with strong and identifiable characters and excellent gameplay that has the ability to draw in first-time NFT gamers.