Top Projects Integrating NFTs into Gamefi: Nine Chronicles and its NFT projec...
NFTs are all the rage today. Among their multiple use cases, NFTs in games are one of the most popular utilities. Various industries, including games, music, sports, and more, are using NFTs for a wide range of purposes. NFTs can potentially change how users interact with each other within or outside the gaming world. Let’s find out how the top projects in the blockchain industry are leveraging NFTs and more about the Nine Chronicles NFT project. How is the Gaming Industry using NFTs? Game NFTs have multiple use cases. For one, they help ascertain ownership of in-game assets. This....
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While NFTs could change the gaming economy, some blockchain-based projects can be less than honest. Over the last couple of years, games using blockchain technology have been actively developing and attracting new players, and the decentralized games market — broadly referred to as GameFi — has gained great popularity. The GameFi industry started back in 2013, and since then, the sphere has been slowly developing, but in 2021 the popularity of decentralized games exploded along with the boom in nonfungible tokens (NFT). According to the DappRadar analytical service, the total value of one....
While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential.The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely....
Nine Chronicles, a massive multiplayer online role-playing game (MMORPG) backed by South Korean blockchain company Planetarium and video game juggernaut Ubisoft is off to a flying start after launching Arena Season 0 on September 8th. The inaugural season, called Yggdrasil: The Alpha Season, will run until approximately October 6th, (ending once block number 2,463,999 has been validated) and allows players to win their share of 896,000 NCG tokens in prize pools along with rare and exclusive NFTs that provide players with in-game utility and built-in value. Why This Game Could Be the Next....
"There's also a hugely untapped mountain of gold in gameplay possibilities with NFTs," says Radomski. When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games. So can NFTs contribute any additional value to traditional games, other than turning them into play-to-earn "moneymakers?"To answer this, Cointelegraph Markets Pro spoke to Enjin's chief....
According to a cybersecurity auditing firm, GameFi projects are putting “profits above security” and pose a great risk to the projects and their users. “Unsatisfactory” cybersecurity measures among play-to-earn (P2E) crypto games pose a great risk to GameFi projects and their gamers alike, warns blockchain cybersecurity auditor Hacken.In a Monday report shared with Cointelegraph, Hacken said that data indicates that GameFi projects, the category which P2E games would fall under, often “put profits above security” by releasing products without taking appropriate precautions against....