NFTs are everywhere! This is the impression of the massive arrival of these "non-fungible tokens" or "non-fungible tokens" in various fields. Lately, it is within the video game industry that NFTs are creating a real revolution. Formerly reserved for insiders, the gaming world is now taken over by brands and by NFTs. A trend that will upset the video game, or is it a world too specific and impenetrable to attract investors?
To fully understand the issues, it is necessary to make a small reminder: an NFT is a certificate of ownership of a digital asset (electronic music, an accessory in a video game, a photographed work of art, etc.). A virtual code is assigned to each NFT and is thus integrated into the Blockchain, such as Bitcoin. In summary, acquiring an NFT is equivalent to buying crypto. The goal is to allow digital creations to have their certificate of ownership like a physical object.
Neymar spends 1 million euros on NFT
Who says certificate? He says value. Inevitably, some NFTs have a skyrocketing rating and can be traded for several thousand euros. Recently, the famous Brazilian football player Neymar distinguished himself by announcing that he had acquired the Bored Ape Yacht Club, a primate design valued at one million dollars. The footballer is not the only millionaire to embark on the NFT adventure. The arrival of this phenomenon in video games should cause some emulation in gaming.
It must be said that video game publishers see immense opportunities to create value. With 2.7 billion users in 2020 for $300 billion in revenue (a figure that will increase in 2021 and then in the years to come), the video game industry has never been better. Therefore, the arrival of NFTs will probably encourage investors to get involved in developing opportunities.
"Gamer to win."
"Play to earn": play to win. With these words, the new Fractal platform, for example, laid the groundwork for its identity in December 2021. Created by Justin Kan, the co-founder of Twitch, Fractal is a beautiful illustration of the revolution sparked by the arrival of NFTs in the video game world. The goal of this platform is to manage to unlock unique virtual objects by playing your favorite games. The French developer Ubisoft has also embarked on the NFT adventure. Certain things such as assault rifles present in the game Ghost Recon: Breakpoint are subject to speculation to reach sums equivalent to 400,000 euros each.
The idea developed is that the game can only be virtuous: pleasure to earn money since acquiring a unique object can then be valued on the market. Special outfits will then be purchased or found by gamers in the virtual universes where they evolve. This is how some luxury or ready-to-wear brands are now developing businesses for video game characters.
This trend is only in its infancy and raises some doubts among "traditional" players. The latter is concerned about the commodification of video games and their impact on game modes and habits. Today, it is still challenging to know to what extent NFTs will permeate the world of video games. Will this trend stick around as a gimmicky attraction, or will it lead to a larger-scale economy?