The value of NFTs in gaming according to artists and brands [video]
A panel of experts including artists and brands talk about their different perspectives on the value of NFTs
What can NFTs really bring to the world of games? This expert panel, including artists, brands and IP holders, discusses that topic at length. Have you ever been curious about the beginnings of The Sandbox? How did the evolution of user-generated content give birth to the phenomenon of NFTs in gaming? This video panel includes advice and insight according to experts from across the gaming industry.
The value of NFTs in gaming
At the online conference Pocket Gamer Connects Digital #7 (July 2021), Inder Phull (Pixelynx), Sebastien Borget (The Sandbox) and Robby Yung (Animoca Brands) share their views on NFTs in gaming. They discuss the importance of empowering players to obtain value from their own experiences, as well as how to give players true ownership of their own content.
The panel also touches upon the ins and outs of trading in the marketplace. The play-to-earn business model gives players the chance to extract value from the time they spend in games, and blockchain titles provide the infrastructure for them to get that value. With the blockchain, you can, in essence, recycle your funds in the game.
NFTs as a definition of identity and more
NFTs have multiple uses, especially as we see a user base that’s growing day by day. In NFT games, what you own and what your avatar looks like will define your profile. The definition of identity has now evolved over the years.
With this in mind, the panel shares valuable insights on how to create more incentives for players to drive the future of blockchain gaming. The collaborative nature is the spirit of blockchain gaming – interoperability is what connects these blockchain games together.
Towards the end of the talk, the panel stresses the importance of having an economist on your team to know the asset value of NFTs. It’s important to do it for the right reasons. Take a community-driven approach first before you even begin to think about developing NFT games.
This half-hour conference panel is intended for anyone who’s eager to know about the value of blockchain gaming – and its future. Will it create new jobs? How about the carbon footprint of NFTs? How do we preserve the future and use these platforms for good and for fun at the same time? These are hot-button topics that are all touched on here.
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