The blockchain, the revolutionary decentralized and distributed ledger has been instrumental in transforming the perception of so many things including but not limited to currency. For a long time, cryptocurrency was known to be the only massive and prominent manifestation of the blockchain. As time went by, people started to create different manifestations of the blockchain.
This magnitude of innovation can largely be attributed to the deeper understanding people gained of blockchain’s possibilities.
One such eventful inclusion into the blockchain getting was nonfungible tokens, commonly abbreviated NFTs. NFTs could be considered one of the most practical implications of the blockchain. Come to think of it, a lot of things in this world are nonfungible but they have no tangible digital representation. With the introduction of NFTs, it was not possible for people, digital creations, and assets to have their own undeniable digital existence on the blockchain.
The properties of NFTs made them an ideal candidate for gaming assets. With NFTs in place and with the immutable properties of the blockchain, gaming assets were no longer confined to the lifetime of the game. They could claim their own existence beyond the game itself. This would mean that these gaming assets could be traded on marketplaces just like how you could trade other NFTs.
Until the infusion of gaming and blockchain, the two worlds were considered poles apart. With NFTs getting introduced to gaming, it raises the question of whether or not the crypto and the gaming crowd will engage.
To understand and extrapolate why they would or would not engage, it is crucial to understand the common points and the differences. The only common point that both the gaming crowd and the crypto crowd have is the use of blockchain technology to power the assets they both consider to be extremely important. everything apart from that wood only put the gaming and the crypto communities in two different silos.
That being said, this point of intersection alone is enough to bring a lot of people into a territory where there can be some osmotic and symbiotic migration between the two worlds. If a particular game runs on a specific blockchain and the game uses that particular blockchain’s native cryptocurrency, there is a very good chance that the crypto community might be interested in brokering such kind of assets. At the end of the day, the procedure is not a gaming asset but rather a crypto asset that could swing the way the market does.
If the crypto collector is also an enthusiastic gamer, they might play with that as it, enhance its capabilities and value in the market and sell it for a higher price, irrespective of the direction in which the value of the crypto coin sways.
If let’s say, a gamer purchases a certain giving us it and it increases in its value because of the increase in crypto prices, does it mean that they will not sell that I said because they get a profit?! For all you know, they might sell that asset just because it entitles them to a massive profit. Does that mean that they are not gamers anymore but just crypto traders? Maybe… And maybe not.
This is where the most confusing and yet the most lucrative grey area lies. NFTs are one of the most powerful manifestations of the blockchain and they contain real-life use cases. They might not be the channel to instant and humongous profitability… At least not in the most classic way. On the other hand, cryptocurrency drives entirely because of its volatility… And it has turned out to become a massive advantage for crypto traders.
While in the most traditional sense, the possibility of these two crowds engaging is impossible, in the most practical sense, the need for these two crowds to engage is inevitable! We can safely say that the crypto and gaming crowds will not only engage but also have a fair share of people crossing lines to and fro!
It would not be an exaggeration to say that the introduction of blockchain technology and P2E mechanisms in gaming will be instrumental in blurring the lines that exist between the crypto and the gaming crowds.
Technology has always been inspiring to bring people belonging to different interest groups together. We have seen this happen with digital art and music production. Now, gaming is the next big thing to be impacted by the infusion of technology… And that too is one of the latest and the most powerful ones.