Blockchain is one of the newest crazes to sweep the gaming world. If you’ve been online at all in the last few years, chances are you’ve heard of “NFTs” or of “blockchain,” both terms that have to do with cryptocurrency and the investing thereof. NFTs tend to relate more to the artistic side, but both NFTs and blockchain are important to the understanding of gaming culture right now.
Here’s everything you need to know about how blockchain, gaming, and art may start to collide in the next few years.
1. How Does Blockchain Relate to Gaming?
The blockchain is essentially a digitized ledger relating to cryptocurrency. The blockchain takes digital transactions, then validates them with a complicated process that uses computers that have massive amounts of strength. This process is extremely complex and very difficult for people to understand, but the short explanation is that the blockchain does the work of a bank – it keeps a ledger of your transactions, then ensures that you made a specific transaction at a specific time.
Because many gaming worlds are built largely online, especially gaming worlds that have to do with MMORPGs and similar concepts, the idea of purchasing a completely digital product, one that doesn’t even have a real-world counterpart, is in no way foreign to those who play these games. It’s an incredibly common way to play games, often referred to as “microtransactions,” though purchases can be anything but “micro,” with some players spending hundreds of dollars on them.
This is why more games are starting to dabble in blockchain technology. The idea of paying money for an in-game item is not new, but the idea of using blockchain technology to verify the purchase of in-game items is. Plus, the birth of NFTs have made it possible to use these technologies as an investment.
2. What Are NFTs, and Why Are They Being Utilized for Art?
NFT stands for “non-fungible token.” Essentially, an NFT is a picture that is used as the public-facing element of a cryptocurrency investment. When you purchase an NFT, you’re not purchasing the copyright to the image or any rights surrounding the image itself except those the individual actively gives you. You’re purchasing an investment on the blockchain, which you hope to grow in the future.
In this way, NFTs are very similar to fine art. Individuals who purchase fine art typically don’t do so to enjoy the art itself, no matter how beautiful it may be. Instead, they’re purchasing the art to hold as an investment, allowing them to add the value to their net worth and potentially sell the item for a higher price down the line.
This is often how NFTs are utilized today. The beautiful artwork that may be part of an NFT is very similar to the beautiful artwork that a fine art piece displays. The artwork may be extremely beautiful or may not be interesting to you, but either way, it’s been valued at a certain dollar amount. You’re hoping to see that valuation rise over time.
3. How Are Artists Starting to Become Part of the World of NFTs?
While it is possible to attach just about any picture to an NFT, many artists and companies alike are starting to try and utilize high-quality, beautiful art as their NFTs. The low artistic quality the general public may associate with certain NFTs has a negative impact on the association of NFTs as a whole. Therefore, as part of a PR campaign, many companies that are interested in selling NFTs have intentionally moved toward better artwork at the head of their NFTs.
When it comes to video gaming specifically, it’s becoming common for companies to sell in-game items as NFTs. That means the companies need experienced artists who are able to create those in-game items. Most people, after all, are not going to buy an in-game item that they don’t like the visual component of, even if they enjoy collecting and investing in NFTs.
This means that video game companies have started to put significantly more work toward the artistic nature of any NFTs they’ve been interested in creating. This way, the NFTs that video game companies have been producing have more in common with in-game items than they do with fine art. For many video game companies, NFTs have become the “new wave” of creating in-game items.
4. How Are Video Games Potentially Going to Move Forward With NFTs?
The most prominent way that video games are likely to move forward regarding NFTs is in making them look “bigger” and “better.” This means that many video game companies are actively starting to look into individuals who are skilled at 3D modeling, allowing them to make beautiful 3D-modeled products that they can sell as in-game purchases and NFTs.
This is one of the reasons that many people are starting to take interest in the world of 3D modeling for video games in the modern age. Of course, 3D modeling is important for every element of a 3D-modeled game, but there are nearly endless ways that 3D modeling can be used for NFTs, and video game companies that are interested in creating them may want to get the best in the business for them.
If you’re interested in becoming one of these people, Think Tank Online may be a great option for you. Think Tank Online is a fantastic way to learn about 3D modeling, including everything from the absolute basics to finishing and perfecting your 3D modeling skills. This way, you may be one of the individuals who ends up 3D modeling NFTs for the next big NFT release.
Blockchain and NFTs are both gaining a lot of popularity in the world of gaming. If you’re interested in gaming or in art, you’ve probably heard about them. This crash course on blockchain and the world of gaming NFTs may be enough to interest you in becoming part of the push. If you are, look into 3D modeling information that can help you become one of the artists who is part of the world of NFTs.