October 14, 2022
In the past decade, with the incorporation of app stores in game consoles and smartphones, the gaming industry has gradually evolved its simple buy-to-play business model, by adding subscription models and secondary sales funnels - such as paid skins marketplaces and loot boxes.
With the rise of Web3 and its various token standards, the gaming industry is setting its eyes on incorporating non-fungible tokens into its gaming mechanisms. Through emerging play-to-earn games, NFTs started to play a vital role in enhancing gaming experiences since, for the first time, gamers can convert their in-game assets and rewards into cash. The adoption of this technology stack has grown ever since.
Up until the launch of Dynamic NFTs by One Mint, the use cases have been very limited for the very same nature of NFTs - these would either represent a static character, an item, or a specific utility with no room for scalability. Dynamism has introduced the ability to create and update tokens for a personalized experience. With this breakthrough, gaming companies may now create complete ecosystems using upgradable tokens.
3.1) Gaming Industry
As means to optimize and scale gaming mechanisms, dynamic NFT have proven to solve most challenges presented by Web2 game development companies. Let us dive into the various use cases these tokens provide for a better user experience.
The customization of players via skins has grown in popularity with the massification of MMORPG games - skins are graphic files that alter the appearance of video game characters. These are merely aesthetic and have no effect on the character's abilities or the game's mechanics, however, users find value in their scarcity and invest real money in them - the rarer the skin, the more valuable it beholds.
Gaming culture on social media has been a forerunner into the standardizing player customization resulting in a multi-million sales funnel for developing companies.
Customizable and Upgradable Players via One Mint Dynamic NFTsWith Dynamic NFTs by One Mint, players can now create a customizable character and upgrade it with special traits. A rarity system can be set to have selected items become rarer than others.
In-Game events have proven to be an effective way of having users buy into tournaments or community-driven gather-ups in the game’s online space. These event-driven funnels have been increasing in popularity since the positioning of e-sport worldwide.
FANZONE is selling lifetime Sports Club Passes as NFTsLoot Boxes: These ‘mystery packages’ of digital assets in video games, have been standardized for years already. Players may purchase these for acquiring rare items that may enhance the gaming experience.
Build Bundles as dropping them as Loot Box PackagesWith dynamic NFTs, bundles of traits or items can be created as means of upgrading the player's item stock. Dynamism in Gaming Roadmaps Specifically for gaming companies, DNFTs provide a robust wireframe to sustain a decentralized structure where players can:
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