Buying NFTs:
NFTs constitute a significant element in play-to-earn games, serving as assets with in-game utility that can be traded on the open market. In-game NFTs range from characters to land, typically traded on the game's official marketplace, owned by the development studio, and a secondary market where players exchange them.
The success of blockchain games often hinges on the increasing value of NFTs. These assets typically begin with a modest base price and are appreciated as the game evolves. Notably, some NFTs have been sold for substantial sums, as seen in the case of Axie Infinity in 2021, where a basic Axie could command up to $1,000.
Purchasing NFTs:
How to Buy NFTs? Acquiring NFTs is a relatively straightforward process. Firstly, ensure you have a wallet capable of storing them. Games often provide tools to view and manage your NFT collection, accessible through Web3 wallets like Metamask.
When making a purchase on the marketplace, you'll be required to pay a buying price and a gas fee. The gas fee is necessary to finalize the transaction on the blockchain, acting as a small contribution to reward validators—computers in the network that ensure the blockchain's smooth operation.
The buying price is typically divided into two parts: a portion for the game developers, earning a percentage of all marketplace transactions, and the larger share, going to the previous owner of the asset. In cases where developers don't have an in-house marketplace, they often turn to platforms like OpenSea. On OpenSea, users can list their NFTs for sale or purchase others' NFTs, akin to an eBay for the blockchain.
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