As a leading NFT game development studio, Pearl Lemon Games provides the best NFT gaming solutions for captivating gameplay. We use cutting-edge technology that enables you to establish your own market and engage vast numbers of gamers interested in purchasing digital collectibles, works of art, and real estate in the virtual gaming environment.
NFT Game Development Studio
What Are NFT Video Games?
The video game business has been expanding continuously for decades, and video game developers are the main beneficiaries.
More players will invest money to get access to premium setups and bottom assets if the game experience is entertaining and distinctive, which is why game developers put so much effort into not just developing new video games but expanding those they already have on the market via updates, paid DLC and, controversially, an increasing number of ‘loot’ boxes.
Mobile, PC, and gaming consoles are the primary three market segments from which the video game business derives its hundreds of billions of dollars in annual sales. When it comes to traditional games, gamers purchase the newest consoles and video games, and money moves from them to video game developers.
The utility and worth of in-game purchases are not even at their maximal levels in return for this investment. By reaching a gaming milestone, players can earn coins and prizes. This is exciting, but outside of the game and the gaming community, they don’t own these things and they have no other value.
The emphasis on value creation is greater in blockchain-enabled NFT games, which also enable users to better appreciate the utility and worth of assets earned through in-game purchases, normal gameplay, or marketing initiatives.
For instance, the only advantage players receive from purchasing an in-game item in a conventional video game is that it makes the game better in some way. Or allows them to participate in a certain limited-time event.
But when cross-platform non-fungible tokens (NFTs) are used in video games, the purchased item becomes transferable and may be traded for money or other goods and advantages. Players can trade their winnings with any other player using cryptocurrency in NFT games or move them to another game. NFT games offer the player tangible ROI on any in-game purchases in ways that conventional video games never have. And for an increasing number of video game fans, this is a hugely appealing prospect.
What are NFTs?
Before we dive further into NFT games and how we can help you achieve video game development success with them, a recap of just what NFTs – non-fungible tokens – really are is called for, as this is still something lots of people still don’t quite ‘get.
An NFT is a type of digital asset that can appear as memes and GIFs as well as in-game assets. The NFTs that players earn while playing games are theirs to keep, and they can be sold or exchanged at a later time when the items become rarer and more valuable. The NFT’s goal is to maintain the value of items connected to a gaming collection.
Unique cryptographic tokens used in NFTs are not tradable for other non-fungible tokens. Additionally, each NFT contains internal metadata that is immutable on the blockchain. Like a certificate of authenticity, the metadata stored inside the NFT specifies what it stands for, its history, and the transaction record.
In NFT games, NFTs can be created and added to maintain, or even exceed, the value of the game for which they were designed when a player first purchased it. As a result, blockchain-based games have the potential to significantly expand gaming economies, introduce new gaming genres, and stimulate the creation of new games.
Are NFT video games the future of gaming? Not alone, there’s a lot of exciting stuff on the horizon, but they are almost certainly going to have a big role to play in the evolution of the video game ecosystem in the near future, and by working with Pearl Lemon Games as your NFT game development agency you can stake your claim in this exciting new gaming niche ahead of the stampede to do so that will come!
So What Makes NFT Games Different?
NFT games are identical to classic video games. In older video games, players can earn items and coins by progressing through levels or winning battles. However, the players do not have access to these prizes outside of the game; they remain inside it. In contrast to conventional video games, NFT games allow players to swap their winnings for bitcoin or move them to another game.
Currently, any player can access items and things from video games. Previously, getting some things required significant gaming skills or money. NFTs, however, can only be possessed by one player at a time. The legitimacy of an element can be registered as unique using blockchain technology, which is the foundation for the development of video game NFTs. And NFT video games are built on this. Within a game, players can make money by selling special items on marketplaces.
The reward might now be monetary as well as competitive. For instance, you might want to obtain special armor for your favorite video game character. This armor is exclusive to the game and is only available for purchase. Of course, you could also obtain a copy of it, but since it would no longer be the original, its worth would alter. The idea that these NFTs components are valuable to those willing to pay money for them is what gives them value. NFT games offer players access to exclusive collectibles in a way that has never been possible in video gaming before.
There is a lot of opportunity to make money in the blockchain and cryptocurrency industries because the global economies of video games, blockchain, and cryptocurrencies are all expanding constantly.
NFT games have also emerged as a new, efficient method of advertising goods and services and/or gaining sponsors. They draw more investors and gamers to the game at the same time. To advertisers and sponsors, the number of gamers who frequently participate in a game determines its worth to them. Because NFT game options have the potential to draw a lot of players and give them more exciting gameplay possibilities, they raise the worth of a game in the eyes of advertisers and sponsors.
What is the Benefit of NFT Game Development Vs. Traditional Video Game Development?
At Pearl Lemon Games, we are gamers first. This means almost any kind of video game development excites us. And NFT game development is not reinventing the wheel in many ways – you can add NFT game elements to almost any game type – mobile, PC, console or VR – and in any niche. And we are already seeing some very obvious benefits of choosing to do so for video game publishers and video game developers, especially those in the indie game space.
Not only does the addition of NFT technology raise a game’s appeal to players and advertisers, but it also has one other significant benefit: ongoing revenue.
Loot boxes and other paid DLC have always been controversial in the gaming world, as players constantly question the value of the content they are paying for. In some cases, this leads to decreased potential revenue, in others to a backlash against the game that sees its player base fall off, or garners bad publicity.
NFT games offer what many gamers will see as real value. People have collected things for centuries, video game content collection is an extension of that in the 21st century. But, as is often the case for all collectors, the rarer something is the higher its value to them, and to the world. And if it’s unique? It becomes REALLY valuable.
Can NFTs Be Added to Video Games?
Most developed video games can be redeveloped and/or tweaked to offer players the chance to make in-game purchases. Your game may already have those capabilities. Working with an experienced NFT game development agency like Pearl Lemon Games allows you to add value, revenue generation potential, and increased gamer loyalty to an existing game on almost any platform.
Why You Need to Develop NFT Games With Pearl Lemon Games
NFT games are not just for those already published in the gaming space. NFT games can be an excellent way for marketers to reach and connect with their audiences in a new and existing way, and for influencers and content creators to add even more value for their subscribers and fans. They can even be used as educational or instructional tools.
Of all the NFT opportunities, NFT games are perhaps most likely to be the one that really has a lasting impact. Contact us today and let’s discuss how NFT games can benefit you and your existing game, or how NFT game development can be ‘baked in’ from the start when launching a new game.