Gaming is one of the industries that has experienced massive development due to blockchain. Traditionally, assets players earned in the games were of little use outside. However, with the creation of non-fungible tokens (NFT) and their incorporation into play-to-earn (P2E) games, assets became much more valuable. Gaming NFTs can now be used in numerous NFT marketplaces, making games an excellent source of revenue.

Although critics of the crypto craze in gaming question the long-term utility of NFTs in gaming, some game developers have announced their willingness to take advantage of NFTs. It appears that in the following years, developers will try to find innovative means to blend gaming and blockchain technology. This could make the gaming experience more meaningful and interactive while also contributing to the further development of the NFT market. This article explores how this phenomenon can change the gaming industry and lists the key players that will decide the future of NFT in P2E games.

How NFTs are Transforming the Gaming Industry

But what is NFT anyway? This term refers to transferrable rights to various digital assets, including collectibles, in-game items, art, music, etc. NFTs are similar to real-world assets, such as bonds or stocks, as they retain value as long as the demand for them is high. Your ownership is reflected on a blockchain when you purchase or earn an NFT for a specific gaming item. In other words, you get a link that proves your connection to the digital asset. It’s like owning something valuable in real life (e.g., a car) but in the digital universe. Companies like NBA Top Shot and CryptoPunks create the most expensive and valuable NFTs on the market.

NFTs changed the game, both figuratively and literally. They allow players to gain control over the digital assets they earn (e.g., armor). Gamers can sell these assets to the highest bidders, earning a lot of money. In the “play-to-earn” model, players are compensated for their time playing. They can sell the assets they earned elsewhere or even convert them into cryptocurrencies like Bitcoin. In other words, NFT games can bring real value to players, which makes them more appealing and meaningful.

**Advantages of NFT-Based Games

The very idea of making in-game assets valuable beyond the game’s environment and giving players real control over their assets is highly appealing. Let’s list the main advantages of creating games underpinned by this idea:

• Make games more lucrative. NFTs are a revenue-generating business opportunity for game studios and everyone involved in the gaming industry. Game NFTs are among the most expensive and widely sold NFTs on the market. According to Forbes, these digital assets generated $4.8 billion of revenue in 2021, which amounted to approximately 20% of all NFT sales last year.
• Create a new economy for players. Of course, players can also benefit from NFTs because they can earn real money. For instance, some of Axie Infinity’s players use it as their primary source of income. Players can approach NFTs as an investment, purchasing items they think will be in high demand in the future and thus gaining a high return on investment. This advantage may be significant for gamers from developing countries.
• Attract a bigger audience. The possibility of earning NFTs can attract a wider audience. The table below shows that NFT games already have an impressive fan base. If game developers manage to balance monetization and entertainment, NFT games may enjoy an even greater influx of new fans.
• Security and uniqueness. Every player knows how frustrating it is to lose the assets when a game shuts. With NFTs, all in-game assets are protected securely, and they cannot be stolen or replicated by other gamers.
  

At the same time, there are negative aspects to consider, such as monetization and environmental impact. Some gamers are not satisfied with the NFT introduction and argue that these assets are nothing more than a way to nickel-and-dime players. Many games charge players for in-game items, which may be frustrating in itself, while NFTs may add to the feeling of being robbed. Another argument against NFTs is that they make games a business rather than entertainment for players.

Environmental concerns are also raised against the incorporation of NFTs in P2E games. Blockchain systems are accused of massive electricity use, which means that NFT-based games contribute to carbon dioxide emissions. With clean resources becoming more accessible, this problem may be addressed effectively in the future.

How to Choose the Right NFT Game Development Company?

The NFT gaming trend is booming today, so there are plenty of service providers online. Some of them are really good, while others are nothing but scammers giving empty promises and wasting your money. So, how can you distinguish the former from the latter and avoid a project failure? I recommend focusing on a few vital pointers:

• Professional expertise

The agency’s coders are the fuel that will move your project forward. Double-check the available tech stack and experts in the team. You need to be 100% sure that the agency you’ll work with can cover all your project needs without a shortage of skill and expertise.

• Years in the market

New companies often take the market by storm with excellent services and talented staff. Still, you can’t take the risks of working with a one-day firm with no testimonials and an empty portfolio. It’s much safer and more predictable to partner with an agency that has already won a positive reputation and has a long track record in the NFT niche.

• Variety of supported technologies

NFT gaming is a quickly developing industry that requires a dynamic, flexible development approach. You need to mix several top-tier technologies to create stellar products and beat the competition. So, look for a company that works with several technologies and can do the right job for you.

• Testimonials

The word of mouth is the strongest marketing tool, even in the modern digital era. There’s no better way to learn what to expect from a provider than talk to their previous clients. Don’t rely on the on-site reviews; ask the agency’s manager for contacts of past partners and ask them a couple of questions before signing a contract.

• Portfolio

Last but not least, you should study the agency’s portfolio inside out to see whether they can create a project you need. The diversity of designs and technical superiority are the key pointers of the company’s professionalism.

Top 7 NFT P2E Game Developers in 2023

While all the pros and cons of NFTs in Play-2-Earn games will likely remain a matter of heated debates, time is money. Farsighted game developers across the globe get in on the action and offer NFT-based game development services. The following list presents the top developers in this area to look out for in 2023.

1. Enjin

If you have an NFT-powered P2E game in mind, Enjin can help you develop it from scratch. This company, founded in 2009, is an expert in NFT games, websites, and apps. Need proof? Check the portfolio available on its official website. Enjin developers work in 20 countries and are united by a mission to create sophisticated virtual economies. An exciting feature that makes this company stand out from competitors is that it has recently joined the UN Global Compact – an initiative seeking to enhance corporate responsibility. So, if you are worried about the environmental implications of NFT games, Enjin is the optimal choice.

Noticeable NFT Projects

• Kingdom Karnage
• Space Misfits
• 9 Lives Arena
• Age of Rust

2. Mythical Games

Player ownership is not just a fancy concept for this developer. The company incorporates NFTs into games to allow players to own their digital assets truly. The team works through its Mythical Platform – a system that integrates NFT-based P2E economies into existing games or creates such games from scratch. If you lack skills and knowledge in this area, Mythical Games can guide you through concept development, design, and implementation of new game economies.

Noticeable NFT Projects

• Rivals
• Blankos
• Nitro Nation
• Magic Fight

3. 4IRE

4IRE knows the ins and outs of digital asset tokenization and NFT development. Innovative NFT solutions offered by the 4IRE team can be applied in gaming to herald a monumental shift in digital asset management and the overall gaming experience. 4IRE has recently developed an NFT game, Hush Rush, so its expertise in integrating NFTs in games is indisputable. The company delivers projects even within limited timeframes, while its experienced team can complete even the most technologically challenging tasks. Thus, you get digital products of the highest quality.

Noticeable NFT Projects

• Hash Rush
• Blackchain
• Elumia

4. Reality Gaming Group

Reality Gaming Group is an expert in NFT - powered game development, this company claims to promote next-generation game development. Its team develops mass-market NFT games, such as Smighties Universe or Reality Clash, which appeal to different audiences. The company keeps up with the latest trends in the NFT market and knows how to incorporate this innovative feature in games to make them more thrilling for players.

Noticeable NFT Projects

• Doctor Who
• Smighties Universe
• Reality Clash
• Emojibles

5. Blockade Games

This company has recently hit the headlines by attracting an impressive list of investors and gaining millions of dollars for further growth. The company can hire the best blockchain developers and NFT experts with new financing in place. Blockade Games is a pioneer in NFT gaming, meaning that it can create a unique and exciting game experience. Using a touch of creativity and commitment to top-level technology, this company creates games that withstand fierce competition.

Noticeable NFT Projects

• Neon District

6. Infinite Block Tech

Infinite Block Tech works with businesses seeking innovative solutions for NFT gaming. It offers services such as NFT development and NFT market development and can design NFT gaming platforms of various levels of complexity. Its tech experts can make games that are not only entertaining and lucrative but also secure and easy to manage. Infinite Block Tech has offices around the globe, so it can work with diverse clients and adjust products to the needs of specific audiences. Similar to the developer described above, this company can incorporate NFTs in almost any type of game:

• Action games
• Battle games
• Arcade games
• Adventure games
• Casino games
• Simulation games, etc.

So, no matter what game you have in mind, Infinite Block Tack can make it a reality.

7. Blockchain Apps Developer

With a large team of NFT and blockchain experts, this company can satisfy any client’s need. Blockchain Apps Developer helps customers build top-notch NFT gaming platforms with superb functionality and features. There is nothing this company cannot do when it comes to NFTs in games. Its services include NFT creation and NFT gaming platform development for different game types, from action games to sports games. So, if you plan to create an NFT game, this company is a safe choice due to its expertise and industry reputation.

Conclusion

Using NFTs in your game may become a watershed moment for your business, so don’t miss this opportunity. The NFT market has grown exponentially, and many farsighted game developers have already taken advantage of this lucrative business idea. Ready to join the ranks of the most forward-looking game owners? All you need to do is find a developer who would put your creative ideas into life. When looking for a partner for your NFT gaming project, focus on the agency’s experience and ability to make your game more competitive and engaging.