Current Challenges in NFT-Based Blockchain Gaming

IBC Group News
4 min readAug 3, 2022

The last two years witnessed an unprecedented growth of crypto and related technologies, especially NFTs. From Beeple’s multi-million dollar NFTs to events issuing NFT tickets, the technology was accepted by the world at a rate never seen before. While NFT art was the true rage across the globe with adoption from celebrities, sports stars, and even politicians, another aspect of NFT was growing silently but swiftly — NFT Gaming.

NFT Gaming grew exponentially recently, with a large player base tuning in to play-to-earn NFT games every day and earning while they play. The P2E gaming genre now hosts some of the biggest names in the blockchain gaming genre, with more users joining the bandwagon every minute.

But the industry does not come without its challenges. There are some glaring issues that the industry needs to look at and fix as soon as possible if the ecosystem has to truly grow to the next level.

Challenges in NFT-Based Blockchain Gaming

Here are some of the problems that players in the NFT gaming ecosystem face.

Being Early is Important

As NFT gaming evolves, many games generate millions of dollars in monthly revenue, with thousands of users joining in every day. However, many games have an economic structure that makes it harder for new users to join and earn enough to compensate for their time. This shifts the balance towards users who joined early and minted the in-game currency early.

Imagine the difference between getting in early and procuring an in-game token at $0.01 or getting in a bit late and procuring the same token at $1. Moreover, existing players are incentivized to sell off their tokens and stop playing as prices rise. Further, players that wish to enter the game during volatile markets might be swayed by market movements, postponing their entry.

High Entry Barrier

As the blockchain gaming ecosystem grows, the gaming entry barrier to play premium titles is too high. The base item(s) or starting gaming NFTs required to play can be priced exorbitantly due to the game’s initial success, which hinders new players from entering the game’s ecosystem. For the players that do enter, even with a high entry barrier, there exists a possibility that their investment can significantly drop in value before they even earn something significant. If games want to build an everlasting ecosystem that welcomes worldwide players, the barrier of entry needs to be reduced.

Lack Of Narrative Depth

One of the top problems with NFT games is a limited storyline that does entice the players enough to keep playing. Many NFT games offer shallow gameplay, which hampers the gaming experience for players as the game gets mundane too fast, too soon. If the game offers minimal gameplay with repeated levels or tasks, it is set up for failure, as limited gameplay doesn’t keep the players engaged.

Overlapping Audiences

Another major issue that the crypto gaming ecosystem faces is the overlapping gaming audience across games. This simply means that many games with a high number of players have an overlapping player base, significantly reducing the number of unique players in the ecosystem. Therefore, it is vital to note that while the blockchain gaming market looks big, it might be substantially smaller. This poses an issue for game economies as a large group of players exiting the ecosystem can make the market unstable for multiple games at once.

Unstable Economics

Major traditional and NFT games with in-game items and marketplaces have solidified their economies through in-game meta changes, regular updates, a solid team, and overall trust. However, a critical issue that the crypto gaming ecosystem faces is unstable game economics that fails to build confidence in front of users. This makes players lose their investments, let alone earn from the game, resulting in diminishing trust and player base.

Reluctant Transition from Traditional Gamers

The traditional gaming market is a mammoth industry, with millions of players in the ecosystem. To get the NFT gaming market rolling, the games have to either get in completely new players or make some traditional gamers transition to the NFT arenas. However, many factors have made the industry less friendly to the unknown, making transitions harder. Even though the existing Web3 ecosystem has shown signs of extreme growth, many games still lack the long-term vision to focus on the gameplay and storyline. The key aspect of transitioning is building trust in the minds of traditional gamers, which many Web3 games are unable to do. This is one of the biggest problems the crypto gaming industry faces and might be the one that takes the longest to solve.

Introducing Ankots of Misteria

Changing the NFT gaming landscape is Ankots of Misteria, a soon-to-be-launched play-to-earn game featuring rare artifacts, magical creatures, and dangerous terrains. Reimagining the monster-battling genre in gaming, Ankots of Misteria offers a unique narrative with a constantly growing storyline, engaging gameplay, and proficient game mechanics for a stellar gaming experience. Fueled by Polygon, the game brings a highly rewarding play-to-earn approach for all players.

Players can choose to battle it out against other players in arena battles or go on a resource collection spree on their own. Powered by the ANKT and LVS tokens, players can earn while playing either game mode. Players can craft and earn LVS by collecting resources, while ANKT is awarded to players who win battles and get top rankings on the leaderboards. However, both tokens are required to create new Ankots.

The game aims to mitigate the effects of the challenges faced by the NFT gaming industry by making a trustworthy, engaging, and transition-worthy game for all players. The game is pushing towards a healthy and prosperous gaming ecosystem. The game enables traditional gamers to foray into the Web3 gaming ecosystem by bringing the perfect combination of high-quality gaming NFTs, an immersive storyline, utility-based gameplay, and a rewarding P2E gaming system. Ankots of Misteria is the perfect game for players looking for an unmatched NFT gaming experience.

Follow Ankots of Misteria to stay updated with the latest announcements, updates, and partnerships.

Website: https://ankots.com/

Twitter: https://twitter.com/ankotsmisteria

Discord: https://discord.com/invite/ankots

Telegram: https://t.me/ankotsofmisteria

--

--

IBC Group News

We are here to serve you with the most interesting and useful articles.