Although NFT games seem to be trending in the present gaming industry, investing your money in the NFT gaming industry might not be a good idea.
Aside from the fact that it doesn’t promise a guaranteed future, NFT games operate on the principle of win or lose like other traditional games. That is why playing NFT games can be a tricky investment. Unfortunately, that means there is no certainty you will profit from the money you invest in a play-to-earn game.
Is the boom in the nft games a step forward? Or has it come to contribute to social and environmental problems? Is it advisable to play NFT games? How do NFT games work? You will understand as you continue reading. This article will highlight some of the less-known factors that are warning alerts in the NFT play-to-earn game trend.
Facts that suggest NFT games could be a step backward
1. The advent of NFT games has reduced the labor force
Over the past years, the number of younger folks in the labor force around the world has dropped dramatically due to the exposition of the new trend of making money while playing online play to earn games.
Naturally, most people prefer an alternative that will help them combine pleasure with work. So, when NFT play-to-earn games came into the picture, they couldn’t help but withdraw from conventional employment.
For instance, most young people between the ages of 14 – 28 in the Philippines have resigned from their formal jobs to resume playing games full-time. And, so, it has been in other developing countries around the world.
2. NFTs are not a perfect answer to cybersecurity
Aside from the play-to-earn model, one of the most enticing parts of the NFT game’s publicity is that gamers can have exclusive ownership of in-game assets. In addition, the non-fungible tokens are an excellent way to gain access to different crypto platforms and give streamers numerous opportunities to win rewards.
Yet, the NFTs have not been able to circumvent privacy for individual works of art, which is a warning sign to those eager to earn and store up in-game NFTs in the form of in-game tokens. Although game developers claim that the premise behind NFT games with a play-to-earn model is a natural evolution to cyber security, it hasn’t gotten so much power in the true sense.
Individual data for NFTs differs. As a result, each NFT character can have its unique value, contrary to cryptocurrencies like Bitcoin, Ethereum, Bitcoin, and the like. In some ways, that may look like a win for the NFT games market, where individuals can track and attach values to play to earn games, in-game bonuses, in-game currency, and other in-game assets. However, it can have more cons than pros.
3. The Adoption of NFT games can affect the video games industry
NFT games rely on the blockchain industry, which is resource-intensive. They draw much of natural resources to function appropriately, resulting in a shortage of resources.
The video game industry has adopted NFTs on a large scale, which could be a significant environmental drawback.
Traditionally, video games don’t run on electric power. So whether you want to play games on a PC, mobile phone, or Nintendo switch, you will need to power the device. Now that some popular NFT games are taking over, the blockchain industry has consumed more power supply for a while. That is why Phil Spencer made a seemingly negative comment even on free NFT games.
Blockchain technology is evolving, and its current phase is very speculative. But many people are ready to join the NFT gaming community. However, the big players in the video game industry, such as Xbox and PlayStation, have not joined the trend of modeling a crypto game.
Yet, it is becoming evident that NFT games and other play-to-earn games that can fetch players some amount of in-game currency will be the leading option. And, if that forecast becomes a reality, the situation of shortage of electrical power supply could get out of hand.
4. The sporadic nature of NFT games can affect the blockchain industry
Incredibly, the hype on some top NFT games is yet to circulate worldwide. Only some parts of the world are active subscribers of the NFT gaming community.
Traditional games are generally accepted evenly, and the pricing is always in the same range. That is because both bigger and smaller games are priced according to the measure of the content of each play-to-earn game, and they are usually affordable regardless of the diverse economic conditions around the world.
However, popular NFT games are usually tagged with wild prices. For example, imagine a game requiring players to make an initial investment of about $600 to buy in-game characters needed to start playing games and accrue in-game assets. That’s outrageous!
Based on comments of existing players of top NFT games, they feel exploited and manipulated as they can invest big and lose all the in-game assets at the end of the day. That could be a severe problem in the blockchain industry long run.
5. Unfavourable Gaming system for smaller NFT creators
Using a system that prevents art or IP theft, the NFT game may have done that. While this might not negatively affect studios and titles, it could hurt smaller teams that could fall victim to similar practices.
So, while Neopet NFTs might not be in danger of having their art stolen, smaller creators could still find that their original characters are being used for an online NFT marketplace they may not be associated with.
Fortunately, the silver lining to NFTs’ relationship with traditional video games is how big names seem to avoid them. A step further than Phil Spencer’s comments on them is the Steam ban on play-to-earn games featuring cryptocurrencies and best NFT rewards.
While some view these as the future of play-to-earn games, they can come with a lot of baggage: NFT crypto games can harm the social environment and hold their real-world value, despite cryptocurrencies being digital.
The steps to cut away NFTs might be seen as dangerous in the future, but for now, it looks like a step on the right path.
Playing NFT games is fun and beneficial. However, most of the top NFT games feature some complexities in different game levels, making winning harder. Like traditional games, the higher your level in NFT games, the more challenging it gets.
Hence, you must be a master to earn money with NFT games. Truthfully, a typical play-to-earn NFT game will cost you time and a huge initial investment before you can start to earn money.
Related: 10 Amazing Effects of NFT Games on the Global Financial Industry