The 21st century is constantly redefining itself in ways that even asset holding is taken on a digital platform. Moving on from the traditional way of asset holding to ownership recorded on a digital data ledger, the face of technology has taken a completely new form. Are you wondering what this all means? The terms asset holding, digital ownership all of this signifies the one that is hitting the news headlines. They are none other than NFTs!
NFT Pop In Full Swing
Non-fungible tokens, abbreviated as NFTs, are all the rage in the world now. The newfangled concept brought in loads of enthusiasm because of its unique attribute of acquiring assets solely through digital transactions in a decentralized environment. NFTs have set a bar in terms of asset ownership. To better understand its potential, let’s glance through some of the statistical figures.
NFT market size in a span of 5 years since its birth has grown to $41 billion in 2021. As per the data, about $10-$20 million in NFTs are sold every week. The reason behind the exploding popularity of the assets is that the transparency in the exchange was brought about by decentralization. This makes investments in blockchain trustworthy and secure.
Apart from that, the owner of the assets has access to sell them on the secondary marketplace. When the demand for the assets is high, the NFT holders can keep a tab on that and sell the NFTs with an increased profit percentage. This is the conventional way of revenue gained through NFTs.
What Are The Sectors Where NFTs Have Peeped?
There cannot be any sector that doesn’t yet feel the impact of NFTs. Because it has made its plunge into almost all the domains. Starting from finance to tokenizing real-world assets as NFTs, the field has become expansive. Of all this, NFT in gaming is making strides all over the world. What does it mean, and why is that growing to be a massive hit? Let us find the answer to this in the following section.
NFT Games – A Newfound Way Of Earning Income
Did you know that the instigation of the Play-to-earn model has been a major disruptor in the NFT gaming space? Gamers are now turning to be professionals as they are getting paid for their gaming skills. Gone are the times when games were meant to be for fun, but now the NFT in gaming pays off the gamers with rewards and in-game collectibles. This is what is the new sensation created by the infusion of blockchain technology that has led to the birth of NFTs storming into the gaming space.
So far, many NFT games, such as Axie Infinity, CryptoPunks, Decentraland, etc., have made their brand known while facilitating its creators to cash in massive profits. But how do the gamers or users make their earnings out of gaming? To answer this question, the gaming platform endows the user to trade in-game assets such as avatars, accessories, virtual plot land, and other collectibles. The ownership of the assets is digitally recorded on the blockchain network, and all the transactions regarding buying and selling are recorded on the public ledger. This makes the information immutable, untampered and restricts any unauthorized entry to access the data.
What Do The Numbers Say Of The NFT Gaming?
- As we have seen how popular NFTs are, it is no doubt that it accounts for the second biggest contributor to the traded value, which is about 21.9%, which amounts to 4.5 billion dollars.
- Besides, NFT games offer an enhanced gaming experience with a real-world value of money-earning. The wins acquired through the play can be exchanged as fiat currencies or cryptos. Doesn’t it sound like a great deal?
What’s The New Crunch About This NFT Gaming Space?
What would it be if you’d had to name one sport that unites the sports fan from all across? Undoubtedly, it’s cricket! Right? And to the surprise, this cricket is coming with a mix of non-fungible tokens for the first time ever in the history of NFTs. Singapore-based GuardianLink brand is hosting this NFT cricket game – Jump.trade. It arrives to offer a metaverse cricket gaming experience infused with a Play-to-Earn model. And to talk more about the game space, it is designed to be a multiplayer game to do well on the global level as this is the first cricket-based international game. Its launch is all set to happen this April 2022.
More On Jump.trade
The official website Jump.trade is presenting an NFT drop that holds exciting prizes for the gamers that they can deploy in the cricket metaverse. The inside of the loot will have gaming accessories, avatars, or any such collectibles. The cool collections are definitely a treat to every cricket buff from all across. Furthermore, the roadmap laid on the official announcement made by GuardianLink stated the ownership of the assets can be extended to be used in building the games and in metaverse match tournaments. So with no doubt, Metaverse Cricket will be an absolute delight for gaming fans all across.
With the great hustle for NFTs in today’s times, every cricket enthusiast should hop into the Jump.trade platform to relish the perks of it. And what’s more? Play, win, and have fun.