In the midst of fear, uncertainty, and doubt, as well as instances of self-sabotage and market chaos, the NFT gaming sector has experienced a significant and interesting development. While interest in static image PFP (Profile Picture) NFTs has dwindled, NFT games have continued to thrive and gain prominence, bypassing the limitations of the PFP market.
The NFT industry has recently faced its fair share of turmoil. The Azuki collection, for example, experienced a spectacular implosion, and even the once-popular Bored Ape Yacht Club has hit lows not seen since August 2021. As the days of big-ticket, status-symbol PFP NFTs seem to be numbered, the utility-focused gaming market may be ushering in a change in the NFT landscape.
One of the major drivers behind the increasing adoption of NFT gaming is the Crypto-friendly launcher, the Epic Games Store. Throughout 2023, the platform has welcomed several significant NFT gaming projects into its ecosystem, which in turn builds trust in the industry. Recent days saw the announcement that the anarchic bunny-themed open world game, My Pet Hooligan, will launch on Epic. Additionally, games like Blankos Block Party, GRIT, and Gods Unchained are already available for free download on the platform.
NFT gaming assets have the advantage of deriving value from their utility rather than speculation. This means that as long as the game remains popular, the NFTs associated with it will continue to hold their value. Consequently, many NFT gaming developers have continued their work even in the unfavorable market conditions.
Star Atlas, for instance, has maintained a vibrant community and following throughout the market downturn, launching early access to its game. Ember Sword also allowed players to explore the SolarWood to aid in testing. NFL Rivals saw incredible success, achieving 1 million downloads in just two months. As we enter the second half of 2023, a total of 35 blockchain games are featured on the Epic Games Store, with 12 already available for download.
In addition, Blankos has established itself as a pioneering force in the NFT gaming space, and My Pet Hooligan is being hailed as a potential contender to Fortnite’s dominance. Despite the turmoil in the PFP market, the future of NFT gaming appears bright and promising.
For those interested in staying updated on NFT gaming and other related news, NFT Plazas offers a Weekly Newsletter, as well as social media channels on Twitter, Facebook, and Instagram for further engagement.
It’s important to note that all investment and financial opinions expressed by NFT Plazas are based on the personal research and experience of site moderators and are intended solely as educational material. Individuals are strongly advised to conduct thorough research before making any investment decisions.
Author Bio:
Decentralised human, Explorer, Adventurer. (Image Source: NFT Plazas)
In conclusion, despite the challenges faced by the NFT industry, particularly in the PFP market, the NFT gaming sector has continued to flourish and gain momentum. The partnership with the Epic Games Store, the increasing number of games available for download, and the utility-driven nature of NFT gaming assets have contributed to its resilience in the face of market downturns. With trailblazing games like Blankos and My Pet Hooligan pushing boundaries and captivating audiences, it’s clear that the future of NFT gaming is promising. As the market evolves and adopts new technologies and platforms, NFT gaming is poised to disrupt and revolutionize the gaming industry as a whole.
