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It is not easy to imagine a world without online gaming, where we can turn on our devices and instantly connect with friends worldwide in a fantasy world.
Whether we are playing retro games like RuneScape or newer entrants like Fortnite, however, the gaming industry still suffers from one big limitation, assets like avatars, items, and currencies are locked within their respective ecosystems.
You’re already aware of the problems if you’re a regular gamer. None of these in-game assets are in your control; you can lose access to an account, get banned from the game, or even have your items nerfed; there are all kinds of possibilities.
As a result, you may lose the items you poured your time, energy, and money into acquiring. Not to mention, none of these valuable in-game assets you earn has any real-world value.
But, all of these are changing for good. Thanks to the rise of NFT domains, blockchain technology, and crypto-wallets, owning in-game assets are here.
Combining them with our NFT domains allows us to build digital identities spanning different gaming worlds.
Blockchain in Gaming
With the rise of blockchain games, we can own these in-game assets and even take them off the platforms they were created. It is proving to be as revolutionary as it sounds — the success of Axie Infinity demonstrates it well.
Axie Infinity is a play-to-earn blockchain-based game built on Ronin, its own Ethereum sidechain. Players can earn cryptocurrency from playing the game and own their Axies — digital monsters that combat other monsters and other in-game assets.
They can have their custody outside the Axie Infinity platform and sell or lease these assets to other players on secondary markets. It has created an entire economy worth over four billion dollars around the game.
Since players can own their assets, they hold a large portion of the wealth, not the company behind the game alone. Players can trade their Axies, breed them, and even sell them to other players for SLP, the in-game currency. Several retailers accept SLP, which can also be transferred for real-world cash.
Unlike the possession of assets in traditional games, Axie Infinity transfers the ownership to players and encourages them to contribute to the ecosystem. While it is a frontrunner, this space has plenty of competition.
The Sandbox is another player-owned metaverse built on Ethereum. It offers creators copyright control and true ownership over their creators. Also, players can purchase LAND, the digital real estate in The Sandbox, with in-game currency SAND.
Like Axie Infinity, all in-game assets in The Sandbox are NFTs that players can exchange on secondary markets.
All of these games hold promise. Creators can make and sell in-game items while getting a full-on gaming experience, giving them adequate compensation for their efforts.
We believe that the world of blockchain games is poised for a greater explosion in the upcoming years. The concept of ownership of these games could soon make its way into the mainstream gaming industry.
NFT Domains for Blockchain Games
All of the in-game assets of these blockchain games are NFTs. And players can store them in their blockchain wallets like Meta Mask, allowing players to own these NFTs on and off the game platforms.
However, crypto wallets are only digital folders. While players can hold these digital assets and trade them, the addresses of these crypto wallets are lengthy and cumbersome.
For example, if you want to invite someone to an Xbox game, you can do so using their Gamertag. When it comes to blockchain, though, it is not so simple.
If you want to ask your friend for their blockchain equivalent of a Gamertag crypto wallet address, you will get something like 0Y594acc38dbcd8g94mn5ba1380d8db39a98t44892 . It is not an ideal way to reach a friend online. That’s where NFT domains play a key part.
At Quik.com, blockchain users can replace their crypto wallet addresses with easy-to-remember names. We can also extend this functionality to games. And since it is still a crypto wallet, you can use it across all the games you play. All of your in-game assets will stay attached to the same name.
NFT domains allow you to add recognizable names to these wallets, which gives them a digital identity. These digital identities can act like portable Gamertags that also hold the collection of all your digital info and assets. Hence, you can jump from one gaming world to another easily.
Since Quik NFT domains serve universal usernames, you can use them with other Web 3.0 apps, including NFTs, DeFi, and more.
Quik has already built the foundation to connect our NFT domains to the gaming industry. You can also join tomorrow's internet by joining the Quik ecosystem.