In-game NFT And Game Developers
Game developers are looking for new ways to have their games stand out and retain users. How can they accomplish this? Innovation is key. Innovation in the games they are creating and innovation in enhancing the user experience.
One way is by introducing in-game NFTs. In-game NFTs can be used for several things. They can be used as game items, rewards, or even experiences. NFTs allow for a player to have an actual item of value for their time and effort in a game. This creates an ability for developers to reward vibrant members of their games by giving utility back to those users. It allows for a conversation between the developers and the community.
Gamers are already familiar and comfortable with the concept of digital assets and have been spending real money on them for years. In 2019, the global gaming market was valued at $120 billion. Of that, $24.0 billion was spent on in-game microtransactions.
NFTs will allow for developers and players to be on the same playing field. It gives developers a way to enhance the game experience for their players while also generating revenue. And now, players get to share in that revenue as well. As game developers move away from traditional data-driven models, they need to be at the forefront of in-game NFTs to stay ahead of the curve.
The blockchain market is still in its early years. NFT games alone generated $2.32 billion in revenue in the third quarter of 2021, according to the Blockchain Game Alliance. The overall gaming industry is set to reach $203 billion this year.
Blockchain-based games are becoming a bigger piece of the gamer universe so if that grows and crypto is the only way into that market, then it might be a place for investors to invest once the dust settles a bit on this disastrous Luna-Apocalyptic market.
Nike’s first collection of shoes for the metaverse is fetching astronomical sums.
The collection, known as CryptoKicks, is being auctioned off as non-fungible tokens (NFT) on online marketplace OpenSea. Customers are paying between $4,000 and $9,500 in cryptocurrency for the shoes, but some pairs have sold for well over six figures. Nearly 9,000 of the Nike Dunk Genesis NFTs have been sold, according to OpenSea.
By comparison, a pair of Nike Supreme Stars Mean Green SB Dunk Lows were selling Thursday on StockX for roughly $1,000. In October, a pair of Nikes that Michael Jordan wore during his rookie season in 1984 sold at auction for $1.47 million, according to CBSSports.com.
Animal Concerts is creating next generation experiences for concerts online and in the metaverse.
Known for working with music artists such as Alicia Keys, Future, Rap Legend Busta Rhymes, Diplo, Meek Mill and Gunna, Animal Concerts is helping both established and emerging artists with their journey into NFTs and other crypto-related endeavors, bringing these superstars into Web3 to perform for a potentially unlimited worldwide audience.
“We’re democratizing concerts,” says Colin Fitzpatrick, the company’s CEO and long-time marketing, sales and tech consultant for brands such as Dell, Salesforce, HubSpot and Oracle. “You no longer have to be the lucky person that gets to see your favorite band if they come to your local city. With Animal Concerts, artists come to you. By filming these artists in 3D and using a headset like an Oculus Quest, we can provide an extremely personal yet completely immersive, shared experience. This is a game changer for many”
