As blockchain technology continues to grow and evolve, so too are the innovations splitting off from it continuing to alter the course of digital assets and technology and what the future of cryptocurrency looks like in all of its forms. Here we explore how advancements in blockchain technology are being gamified and what that means for the years to come.
Gamification of NFTs
Originally, the simple definition of an NFT was a digital asset collectible, such as a piece of art or digital trading card. The NFT could be bought or sold on a marketplace or held on to with the belief that it would increase in value over time. A new trend, however, is the gamification of NFTs, whereby your digital collectibles can now be used to participate in online universes and earn actual money—or crypto—from your gameplay. Essentially, NFTs can become gamepieces, and those game pieces can then provide rewards to you from your gameplay. However, you’ll still own the NFTs as individual digital assets and can sell and trade them as you see fit.
For Web3 gamification, it’s all about virtual reality. VR is poised to pop as The Metaverse continues to grow and expand, making the soil fertile for VR innovation and development. And that’s where Web3 comes in. New browser types powered by Web3 will allow for the latest in VR gaming backed by blockchain technology. Remember those NFTs that can now act like game pieces? With Web3 powered by the blockchain, the gaming experience will advance in a similar way, with gamers being able to earn rewards through their gameplay and having those rewards be securely transferred and validated through the blockchain. All of the above is part of the larger “pay-to-earn” movement and it will have a far reaching impact on the gaming community and how we look at and think about gaming in the future.
Blockchain Real Estate
To some in the “real world,” buying property is a game in itself. Buying low, selling high, turning a profit, buying more. But what about buying “land” as a digital asset? Digital “homeownership” is becoming more and more popularized as The Metaverse grows, and with it comes the gamification of owning digital land assets. Like games, there are “rewards” available to those who own digital land, as well as customizable ad-ons that can be purchased to customize your area. Additionally, digital homeownership enables you to participate in the group that controls the buying and selling of digital properties, so you’ll have a voice in how the landscape (no pun intended) shakes out in the future.
Shopping and Investing
Whether it’s buying crypto, NFTs, digital land, or customized accessories for a digital avatar, the way in which purchases are made through the blockchain will continue to evolve. One way the buying and selling of digital goods has shifted is through the earning power of what you purchase. As we move forward into The Metaverse, Web3, and crypto digital future, our digital asset purchases will garner more and more earning power than simply existing as digital assets, and will be able to be used for a variety of different functions the provide benefits and bonuses to their owners.
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