Games are as old as humanity and so no wonder when the internet came about, online gaming took its place on the stage in no time. In 2020 Gaming was the biggest earning media sector. It comes as no surprise that the popularity of NFTs has and will continue to contribute to Gaming becoming much more sophisticated, and bigger than ever. Let’s delve into the big picture of the current NFT gaming market overview for August 2021.
Between 2017-2018, the gaming industry had a 13.3% compound annual growth rate to reach $137.9 billion. However, video games industry stats show that the industry hit the $152.1 billion mark in 2019, showing a CAGR of 9.6% from the previous year. Still, it’s expected to grow at a CAGR of 12% in the following years.
NFTs have become one of the fastest-growing trends this year. They are not only taking by storm the art world but the gaming one as well. The rise of the blockchain, cryptocurrencies and NFTs have inspired game developers to adopt the technology and start monetizing, allowing gamers to become investors. The implementation of the new technology has enabled open communication between players and developers.
Revenue in the video gaming industry reaches into the billions of U.S. dollars worldwide every year and is forecast to grow even further in the coming years. Part of this growth will be dependent on the success of new trends such as cloud-based streaming and blockchain.
Blockchain impact on the video game industry report by Statista
An NFT game mixes standard game ideas with advanced techniques to give users more control over in-game assets such as skins, characters, weaponry, virtual territories, and much more while transforming casual play into money-earning. Using NFT token standards allows developers to additionally maintain the rarity and uniqueness of some of these assets. On the other hand, the users can create or breed new characters, buy digital products on third-party marketplaces, or unlock and acquire new goods within the game.
The platforms that have successfully integrated NFTs with popular game themes are currently holding the top positions in the NFTs game industry.
We have selected 24 NFT game developers who have prevailed in this niche and challenging business sector and will further look at some of the names on the list.
Axie Infinity is toping the NFT games list. The users have to collect NFTs fantasy monsters that can be bred or trade within the game or on open marketplaces. The value of the NFT collection in trades has risen to $50 million in July 2021. Axie Infinity uses AXS and SLP and two Ethereum-based cryptocurrencies. Currently, the game is only available on Android.
Sorare is a global NFT fantasy football game where the gamers create an NFT represented football team by collecting and seeking out the cards of the preferred players and is rewarded by how they play in various games. So rare has raised a total of $59.2M in funding by 20 investors. The company is operating on the exact brand match domain name Sorare.com.
Gods Unchained is one of the most popular NFT games currently on the market. It is an online strategy trading card game that allows users to collect and trade various NFTs cards. Chris Clay, the former director of Magic the Gathering: Ar, headed the development team that built Gods Unchained.
Gods Unchained has chosen the exacta brand match domain name GodsUnchained.com for its online presence.
EBM (Exact Brand Match) domain names are associated with credibility, transparency, and trust. Getting an exact domain name helps a brand differentiate itself from others, making your consumers see your product or service with more confidence and respect.
The term I/O is commonly used as an abbreviation for Input/Output, which describes data transfers to or from a computer and to or from another device.