Amid FUD, self-destruction, and market-wide turmoil, interesting developments continue in the NFT gaming space. As if to circumvent the limitations inherent in the PFP market, the NFT game will only grow as interest in static images fades.

The NFT industry has experienced its fair share of turmoil in recent weeks, with the Azuki collection collapsing in spectacular fashion and even Boad Ape Yacht Club hitting a price low not seen since. August 2021. But the days of high-priced, status-symbol PFP NFTs seem to be coming to an end, and the utility-focused gaming market may just be facing a changing guard.

A big driver of the increased adoption of NFT games came in the form of the Epic Games store, a crypto-friendly launcher. Through 2023, the platform has accepted many large-scale NFT game projects, which has increased the industry’s credibility. We recently announced that My Pet Hooligan, an anarchic bunny-themed open-world, is coming to Epic. Blankos Block Party, GRIT, Gods Unchained and more are already free downloads.

NFT Gaming Can Avoid a Bear Market

The advantage of NFT gaming assets is that their value is driven by utility rather than speculative demand. This means that NFTs will continue to hold their value as long as the game remains popular. As a result, many NFT game developers have continued to develop even in the current adverse market conditions.

Throughout Kuma, Star Atlas has maintained a vibrant community and fans while opening early access to the game. The same goes for his Ember Sword. This allowed players to explore his SolarWood to aid in testing. Meanwhile, the phenomenal success of NFL Rivals saw him reach a staggering 1 million downloads in just two months. Coming into the second half of 2023, there will be 35 blockchain games on the Epic Games store, 12 of which are already available for download.

On top of that, the Blancos have cemented themselves as pioneers in NFT gaming, while the aforementioned My Pet Hooligan is touted as the Fortnite Killer. So, despite the turmoil in the PFP market, the future of NFT gaming looks rosy.

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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.

By Jules

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