Are NFT and Blockchain games safe?  Understand how they work  Games

Are NFT and Blockchain games safe? Understand how they work Games

NFT games use blockchain technology behind cryptocurrencies like Bitcoin and Ethereum to allow their users to make money playing. The genre has become popular with games that transform elements and even characters into unique (or less scarce) elements, allowing them to be sold for real money. Recently, even developers like EA Games and Ubisoft have already shown interest in adding NFT to their future releases. Understand below what these titles are, how they work, and whether they are safe to play.

🎮 Six curious cases where an NFT was used

Axie Infinity is a game that uses the blockchain network and promises the user real money – Photo: Disclosure / Axie Infinity

NFT stands for “Non-Fungible Token”, which works as a kind of digital certificate established using the same blockchain technology behind cryptocurrencies. This record gives originality to a certain digital element, that is to say, it guarantees that this art, publication in the social network or article of the game is unique or one of the few of the world. An example of how this works is the sale of the first tweet in history, associated with an NFT and sold for $ 3.8 million.

To understand the idea behind NFT we need to understand what are fungible and non-fungible goods. A currency, for example, is expendable, that is, indistinguishable from each other. Therefore, a currency of R $ 1 can be exchanged for another of the same value without loss or gain. A work of art, on the other hand, is a non-expendable good, as they will always be different.

The presence of cars and other NFT items in GTA RP Cidade Alta is another example of the growth of the modality – Photo: Disclosure / Cidade Alta

NFTs apply this same concept to digital goods. This certificate can turn a meme, image, GIF, video, song, or website into a non-consumable asset. From there, the article ends up being appreciated by the market, especially if there is interest and demand, which can lead to an appreciation.

In games, NFTs have been associated with digitally signed content with technology. An example that has become popular is the Pokémon-style games, in which the creatures that the player collects are NFT that can be valued in the market.

The idea is to get more special, rare and powerful monsters, which will be in high demand and, consequently, more appreciated. Other applications can link collectibles and cosmetics generated and obtained in the game to NFT, allowing the player to earn money by playing.

Do I have to pay to play?

It all depends on the game and the application of the NFT. At the moment, Axie Infinity is the most popular NFT game, and to play you need to buy at least three axies (the game’s collectible monsters). Today, they are sold at prices starting at R $ 400 (R $ 2,234, in direct conversion), ie to start the game you have to spend at least R $ 6,581 (or R $ 1,200).

Gods Unchained is an example of free NFT to play – Photo: Disclosure / Gods Unchained

But there are free examples, like Gods Unchained, which is basically a card and strategy game. At the beginning, each player receives a deck of 140 cards, which have no value in the internal network of the game and therefore cannot be changed. As the user plays and evolves in the game, they can start collecting special cards of value to exchange with other collectors and players.

Why do games make money?

The idea of ​​NFT is to determine the uniqueness of a given element. Once something is unique, special, and consequently rare, a market can arise around such items (as long as there is a demand).

In games, special articles always arouse interest. Having a market focused on cosmetics, equipment, among others, is nothing new, as happens in the communities of CS: GO or even in the sale of DLC only with skins, for example.

The world’s first tweet went on sale in NFT format – Photo: Reproduction / Paulo Alves

NFT games are built around this notion that there is a demand in addition to special items, which encourages the birth of a barter market. These systems work with the same principles and technologies that guide the operation of cryptocurrencies. Like any other market, they are subject to fluctuations, both due to speculation around NFT assets and the law of supply and demand.

As with any activity that involves money, the level of security depends largely on the user. To play (or invest) in games of this genre, it is important to have a good understanding of how blockchain works in order to adopt best practices and not be afraid. Another important consideration is to look for information about the game itself. Is it a product of trusted developers? Does the market work with reputable platforms? Is the fluctuation of values ​​very large?

The same precautions apply with cryptocurrencies when trading NFTs obtained in games – Photo: Reproduction / Islam and Bitcoin

Ultimately, you should only get involved in these types of games when you understand that it is possible to lose money with NFTs, as with other risky investments. Suppose you bought an item for R $ 100, but after a while, the community values ​​the same item for R $ 50. In this case, you have not necessarily been the victim of a scam or theft, but only of the negative effect of speculation on an extremely volatile and fluctuating asset.

Tips to avoid problems

As mentioned above, it is worth looking for information on how cryptocurrencies work in general, as well as the blockchain behind them. Another important precaution is to partner with a broker (the so-called “exchanges”) that markets the asset of the game that interests you.

The broker acts as a mediator to make your NFTs available to interested buyers as well as to buy new items. Such services offer a multitude of technical resources, maps and graphs that allow you to follow the evolution of the NFT market and the cryptocurrencies that may interest you.

EA believes that NFTs will be an integral part of gaming in the future – Photo: Reproduction / Electronic Arts

It’s also important to have a local wallet to store your digital assets. With this, you can effectively load your cryptocurrencies and NFTs in isolation from issues that could affect the exchange. There are still wallets in the cloud, but there are documented cases of people losing their cryptographic assets after a digital wallet proved to be a scam or even when an exchange disappeared.

In addition to Axie Infinity and Gods Unchained, there are other notable titles in the genre. These include Splinterlands, which focuses on the gameplay of cards and exchanges, and Sandbox 3D, in which players can create and manipulate 3D objects marketed via blockchain. Another example is Alien Worlds, which involves economic laws and teamwork for players to discover new planets. The game revolves around the Trilium, a kind of coin that is collected and also used to expand bases, among other functions.

Ubisoft and EA, responsible for the major market titles (AAA), already admit that they plan to incorporate NFT into their products in the future. This could mean that one day an open world game from Ubisoft, traditionally full of collectibles, could associate this type of object with NFT for players to swap or swap with each other. In the case of EA, the developer could associate NFT with FIFA’s Ultimate Team mode cards, for example.

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