- NFT’s are a key player for consumer brands to connect and engage with their customers in a new wave of blockchain tactics
- The evolution of NFTs is opening a varied yet practical launch pad for many younger and non-traditional audience demographics to join global blockchain revolutions and create a new future across multiple gaming platforms
- No longer will big name developers dominate the marketplace; decentralized blockchain governance gives even boutique developers the chance to grow their audiences and engagement
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Recently, the use of NFTs (Non-Fungible Tokens) in gaming has come under some scrutiny, with game stores such as Epic permitting games that use NFTs or Cryptocurrencies, whilst not necessarily directly supporting the cause themselves.Regardless of stance, the potential pot of gold at the end of the NFT gaming rainbow is huge; after several months of billions of dollars in trading, the NFT space generated over $4,200,000,000 .
One of HeliconNFTs core aims was to become an educator in the NFT gaming space, taking valuable advice from developer studios and seasoned gaming communities alike to avoid anyone potentially being misled regarding any false dangers of NFTs, and digging to the true potential value to the gaming industry, including heightened security and direct community engagement.
By understanding the flexibility of NFTs as a collective, the global gaming community may be able to build a true and open NFT trading platform where gamers, developers, and creators can trade their created, bought, and earned NFTs between each other, as well as mint their own from their online assets – from cosmetics to signed memorabilia. The true meaning of a decentralized culture and democratic platform is to be a tool which brings traditional games and NFTs into the same sphere and adds value to the industry at every level.
Minting A Marketplace
At the core of creating NFT’s is the process of “minting”, turning your digital files into unique tradable assets on the blockchain, typically on Ethereum. Advance warning, you will need first to have a crypto exchange setup to pay for the one-time setup fee for minting an asset. Practically any digital asset can be “minted” – effectively uploaded to the blockchain and verified as a unique asset belonging to that user. Once minted, NFTs can then be traded or sold like any other token on the blockchain. The current, most popular use for NFTs is either the exchange of (already established) high value items, or assets being bought with the hopes of being sold for more later.
Tom Palmer, HeliconNFTs CPO made it a point that: “We are bridging the gap between centralized games and decentralized NFTs. We are giving power to communities to mint game items as NFTs by themselves, and we will implement centralised game functions through blockchain technologies, creating a user-friendly experience.”
For players and content creators (modders, streamers and UGC creators for example), you can mint your own NFTs whilst enjoying smart contract security in your purchases, allowing you to monetise your time and effort in-game. For developers, you can diversify your revenue streams, mint your own potential high-value NFTs, and reach larger audiences more easily. For platforms and publishers, you can not only diversify your revenue streams, but also have another source of user acquisition tools at your disposal. NFTs will be the future of the gaming space, so making sure they’re fair and secure is key for the industry.
The Right Tools For the Job
The question on many peoples lips is, are the current tools of the gaming industry fit for purpose for this model?From the App Store wars on platform percentages to Steam key scams and Ad Frauds, the power struggle and capability of bad actors to come into play seemsrelatively high. The market need appears to be a new set of tools which allows the gaming industry to collaborate – one that allows true ownership and verification of games and assets, so that the future of gaming can take hold, and it is on this premise that HeliconNFT was first designed. There are hundreds of sites, bad actors disappearing without a trace, and crypto’s being intrinsically tied to platforms and games.
Through use of smart contracts, NFT marketplaces and gaming stores such as HeliconNFT with their activity carried out on the blockchain are able to fully ensure when two parties agree on a deal, it’s automatically carried out. Therefore the new tools of online governance would seem to favour blockchain technology as the conduit for a new gaming metaverse.
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The Game is Always Changing in the Middle East
The number of Middle East gamers as of 2021 is estimated at a little over 100 million, which in a multi-billion-dollar industry with cult followings and a massive internet penetration in the MENA region means gaming in the GCC is as certain a growth area as any investment can be. James Magee CEO HeliconNFT is banking on MENA being a big new player in the future of gaming developers.“With $3 Billion invested from the Middle East in game developers and publishers in the last 12 months this really is the place to be for the Gaming industry in 2021 and beyond, we are offering a showcase for any developer/publisher who would like to present their proposition to investors and learn new ways to create new revenues for their games’, he said.
“At Helicon we’re gamers at our core, having launched numerous gaming festivals and esports tournaments across the world for 100s of millions of gamers. Best of all, we’re backed by blockchain experts, some of whom basically pioneered tokenisation and have been testing it for as many years as tokens have existed.The decision to launch HeliconNFT is many years of work on many continents, with the very best people. We’re quite literally trying to change the game.”,he added.
One development studio that is excited about what the future of NFTs could mean for gaming if utilised correctly, and the potential scope for growth in the MENA region is Bad Fox Studios. Bad Fox has partnered in the early stages with HeliconNFT to help shape the platform, and focus the direction of how a fairer economy could develop. Bad Fox comprises a diverse cross-section of gamers and are currently working on multiple IPs. Understanding how NFTs can benefit both developers and gamers is essential to be portrayed correctly.
“It’s about being secure, open, and honest and respecting the true value of trading and exchanging merchandise currently being sold by developers and bought by gamers, plus giving true value to the hard work which often goes unrewarded by the vast modding community that generates so much for gamers. Hopefully NFT’s can make for a fairer economy for all, however we see the Middle East has incredible potential, being an early adopter of all things blockchain so early in the game” says Studio Head, Barry Hudson.
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