Why Crypto OG Brian D. Evans Is All-In on NFTs in Video Games

Why Crypto OG Brian D. Evans Is All in on NFTs in Video Games

Written in partnership with Ascend Agency.

NFTs have won the hearts of many and have successfully encroached into other sectors. Over the last few years, NFTs have become an internet sensation because they provide an opportunity for creators and artists to develop new and exciting projects. Think about the likes of BAYC, CryptoPunks, VeeFriends, Cool Cats, and other defining digital collections. These collections are changing branding, creating staunch communities that use these rare artworks as a symbol. You’ll agree that NFTs are not just for the money but revolutionary.

NFTs didn’t find their way into arts and brand-building only. They have found their way into the entertainment world alongside gaming. To this day, we can say they are the biggest disruptor of the gaming world. So, why is the gaming world more receptive to NFTs than other sectors. Let’s find out below.

Why NFT in Video Games is Bullish?

Within a short time, Axie Infinity became one of the biggest crypto game projects in the NFT sphere, with more than $3 billion worth of transaction volume. Players spend thousands to millions of dollars on avatars, land plots, etc. Seeing the success of Axie Infinity, traditional game studios in the video game sector are paying close attention to NFTs and are exploring how to integrate blockchain technology.

Crypto OG Brian D. Evans believes that NFTs can help games stand out from the competition and have more impact on the players. Gamers are increasingly identifying with NFT games, and it isn’t because they are more graphic-intense than their traditional counterparts. They give the players the chance to earn rare items with real utilities. Evans is heavily investing and building in the space and feels that on top of games thesmelves, utility based Web3 game related platforms such as Wasder could disrupt the industry.

Traditional game companies are all about the money. They squeeze out from the players and leave them with just the fun and entertainment. Generally no economical incentives are given for winning, outside of tournaments. This has been the status quo over the last ten years in the video game landscape. The emergence of NFTs made players believe they can ask for more. They wanted more than just entertainment that traditional video games provided. They wanted to earn and be rewarded for their gameplay efforts. That came about the Play-to-Earn or P2E concept.

The rise of NFTs last year was eye-opening, and game studios wasted no time integrating them into their gaming projects. When you compare the number of traditional video games being released in a quarter to the number of NFT games released, most of the video games don’t reach a mass audience, while the newly released NFT games are already in the mainstream. It shows that NFTs have altered the paradigm.

Developing a game with in-game items like NFTs might still be novel, but it’s capturing the hearts of gamers. Some gamers feel the potential of their in-game assets to rise. Others love the intrinsic value of owning the items in the game that they like playing. With NFT games, players feel they truly own their gameplay and items, which is different from what they feel when playing centralized games. Gameplay and items could be stuck on a centralized game, but NFT games save your game progress so that you don’t lose whatever you have earned.

DAOs and Community Governance

NFTs are crucial components in garnering a community for games. It is one of the benefits of using NFTs. Prominent games like Axie Infinity used NFTs to engage the community. The Sandbox used the same strategy, building communities with NFTs even before the game is launched. Fans love it when there’s a prospect of ownership. They feel at ease jumping on the train.

NFTs also influence DAOs. Games with community governance allow NFT owners have a say in the running of the game. This is atypical of traditional video game publishers that make all the money and give you no chance of contributing to the game’s development.

Conclusion

NFT video games are still novel but growing at a fast pace. Blockchain experts like Brian expect more NFT-based games to emerge in the coming years, considering that players are into P2E games. Play-to-earn games are incredible for players, especially low-income earners who strive to augment their income.

 

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