NFT gaming market overview 🚀
NFT Games are blockchain-based games that have tokenized in-game assets allowing players to collect them as non-fungible tokens (NFTs). Players of NFTs can be rewarded in cryptocurrency or collect in-game NFTs that can then be sold for a potential profit.
In November 2017, CryptoKitties dropped on the Ethereum network and literally brought the network to a sudden standstill, as gamers rushed to have a taste of the new type of blockchain gaming.
The value of the game market worldwide has increased significantly over the past decade and is forecast to grow over $200 billion in 2023, as reported by statista.com. The NFT market also witnessed its capitalization reaching a new high of over $22 billion in 2021, up from $338 million in late 2020.
Let’s overview 5 pioneer NFT games that led the way to DeRace and other NFT gaming projects.
CryptoKitties
Launched in November 2017 by Dapper Labs, CryptoKitties can be considered one of the first pioneers in blockchain gaming. The platform currently still records up to $30K worth of daily transactions and more than 800 new users weekly.
In this platform, players can collect and breed virtual kittens that “live” on the Ethereum blockchain. These virtual Kitties can be traded on the platform’s marketplace or on leading NFT marketplaces.
Every Kitty is unique. You can buy a one-of-a-kind CryptoKitty on the marketplace or by breeding two Kitties together. While buying is convenient, breeding allows players to unlock rare attributes. You can also earn rewards with your Kitty collections.
Once a collection is formed, they can be moved to KittyVerse where they can participate in catfights. CryptoKitty puzzles are another feature of the game.
Axie Infinity
Axie Infinity is an Ethereum-based blockchain game launched in 2018, featuring adorable animated creatures known as Axies. The Ethereum-based game records up to 5,000 new users weekly, with weekly volumes nearing $1.8M.
Each Axie is unique with distinctive strengths and weaknesses based on its genes. There are over 500 Axie’s body parts, which means players have a limitless potential to be creative in their body part combinations. Axies belong to different categories, including Beast, Plant, Bug, Reptile, Aquatic, and Bird, and each creature can be common, rare, ultra-rare, or legendary.
The game allows its gamers to breed, raise, and battle Axies. You can also trade Axies on the marketplace with the other players. Especially, players have a chance to earn Axie Infinity Shards (AXS) tokens while playing.
AXS is the governance token in the game that grants players the right to vote in key decision-making moments. It also serves as a currency on the Axie marketplace and players will soon be able to stake AXS and earn more tokens. Axie Battle and Axie Land are two features that will be added by the developers in the coming time.
Evolution Land
Evolution Land is a virtual simulation game that was launched by the developers of Darwinia Network, a public blockchain for the gaming industry.
The planet in the game has 26 continents, and the basic elements are fire, land, gold, water, wood, and silicon. Players can play with or against each other on different grounds such as construction, mining, and PvP. So far, the developers have built two continents: Atlantis (Ethereum-based) and Byzantine (Tron-based).
Inhabitants of Evolution Land are Apostles who possess various talents determined by their genes. Some Apostles are rarer than others. Their talents can be nurtured through education, and Apostles can choose from a diverse choice of careers. Players can trade in-game assets like land and Apostles in the platform’s marketplace.
One of the game’s fungible tokens, KTON, gives holders voting rights through the Decentralized Autonomous Organization (DAO). 70 percent share of the revenue from the game is promised for players.
F1 Delta Time
Developed by Animoca Brands, F1 Delta Time is an Ethereum-based NFT game for fans of Formula 1. Players collect unique cars, drivers, and components that exist in the form of in-game NFTs. Each token has a unique set of features that affects the car or driver’s performance. The game also has an ERC-20 token called REVV that acts as the in-game currency. Players can also stake their NFTs to earn REVV.
Some outstanding features of F1 Delta Time include Grand Prix Mode, where players can race; Time Trial mode for testing your compositions; and Time Trial Elite, where you can win rewards. The game also offers a workshop for players to equip their cars with parts and drivers with gear.
Sorare
If you are a football fan, you might have heard of Sorare. Developed by Nicolas Julia and Adrien Montfort, Sorare was released in 2018. Today, it is a popular Ethereum-based NFT game with total daily card sales reaching approximately $159,000.
The game allows players to earn prizes by defeating other managers. You will get the chance to build and manage your own virtual team composed of digital playing card NFTs. The cards are officially licensed and represent a real-life footballer in a particular football season.
Digital cards in this game have several levels of scarcity: unique, super rare, and rare. When you collect a card, you get full ownership, and you can sell it to other players. You can also use a team of five cards in the SO5 game and earn points based on the performance of the footballers in real life. Sorare tracks the individual performance of footballers from 23 leagues.
NFT gaming potential
NFT games are a mixture of thrill and potential profitability. Ever since the blockchain-based gaming industry has been blossoming with varying degrees of complexity. The first quarter of 2021 saw the upgrade in crypto gaming in the form of NFT games, which have made the shift from Play to Earn games to collectible games based on the Pay to Earn principle, as rare NFTs often fetch astronomical prices on the market.
Newly developed NFT gaming has tremendous potential for future development, and it is still to be filled with new projects. Now is the golden time for DeRace to enter the playground. With our strength of incorporating existing technology with our cutting-edge new features, we believe DeRace will soon be one of the leading NFT games on the market. Are you ready to join DeRace? 🤠
About DeRace
DeRace is the first virtual NFT horse racing universe that joins billions of gaming, gambling, and horse racing enthusiasts in a community where you can breed and trade NFT horses, bet on real-time horse races, and host races in your owned hippodromes for actual profit.
DeRace is electrifying the current NFT market by allowing players to fully interact with their DNA-enriched NFT horses.
Stay tuned to our official channels for more exciting news and updates coming through!
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