The gaming industry has come a long way since its inception. When commercial gaming started to get popular in the 70s, no one would have imagined that people would monetize the rewards and in-game assets that they’ve won from these games. But with the introduction of blockchain technology, the gaming industry has evolved exponentially. Players can now mint their game assets and rewards on NFT game marketplaces and reap profits. Due to the growth of the NFT gaming market and the immense popularity of NFT games.
NFT Game Marketplace Development has become one of the highly successful business ventures in the Web3 space. If you’re looking to develop your own NFT game marketplace and make the most out of this lucrative market, you’ve landed on the right page.
How does an NFT Game Marketplace Work?
NFT games offer a unique gaming model where players can mint their gaming assets and rewards as NFTs on NFT game marketplaces. Firstly, users need to create an account with the NFT game marketplace and connect their crypto wallet like a regular trading platform. Once they’ve registered with the platform, users can start minting, buying, selling, and trading NFTs on the platform. All NFT gaming platforms come with their own marketplace.
All types of gaming goods, like vehicles, weapons, equipment, tracks, jerseys, player cards, etc., can be minted and traded on NFT marketplaces.
NFT Game Marketplace Development Process
➊ 𝐂𝐨𝐧𝐜𝐞𝐩𝐭𝐮𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧: The first step in any game development process involves the conceptualization of the game. Decide on the design, assets, and how your marketplace should work. Perform extensive research on the market and your target audience’s needs and preferences.
➋ Design: Work on the user interface and map how each NFT will be displayed on the marketplace. Create a sophisticated, yet user-friendly interface for your marketplace where users can navigate seamlessly.
➌ 𝐅𝐫𝐨𝐧𝐭-𝐞𝐧𝐝 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Once you’ve decided on the design of your NFT marketplace, start working on the front-end development of your platform. Develop a comprehensive and informative storefront with price, preview, bids, etc. Also, incorporate filters, category management, sorting, etc., for an enhanced user experience.
➍ 𝐁𝐚𝐜𝐤-𝐞𝐧𝐝 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Choose the blockchain network on which you wish to develop your marketplace and create a token protocol for the smart contract’s functionality. Integrate the front and back ends of the marketplace to interact with smart contracts and clients.
➎ 𝐓𝐞𝐬𝐭𝐢𝐧𝐠: Run multiple tests on your marketplace with QA experts to ensure that the platform has no bugs or errors.
➏ 𝐋𝐚𝐮𝐧𝐜𝐡: Once you’ve tested and resolved all the platform errors, you can deploy the platform for public use.
Features of an NFT Game Marketplace
Important features to be included in an NFT marketplace.
⦿ 𝐑𝐨𝐛𝐮𝐬𝐭 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐩𝐫𝐨𝐭𝐨𝐜𝐨𝐥𝐬:Preventive technologies and Anti-DDoS are vital to providing a secure decentralized service for users.
⦿ 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬: Get your storage for NFT metadata from the market leaders like Filecoin, Pinata, etc.
⦿ 𝐁𝐢𝐝𝐝𝐢𝐧𝐠 𝐨𝐩𝐭𝐢𝐨𝐧: Bidding option is one of the important features of every marketplace. The bidding and auction feature on marketplaces allows users to sell their NFTs through auction. Users can also bid for an NFT they are interested in.
Impact of NFT Game Marketplaces on Player’s Gaming Experience
⏯Players can tokenize their collections and maintain control of their assets through an NFT marketplace.
⏯Since NFT gaming marketplaces are built on decentralized networks, users can enjoy enhanced security features through decentralized game servers.
⏯Players can have a holistic gaming experience, as they can transfer assets from one game to another.
⏯Distributed storage technologies such as IPFS make sure that data on the marketplace is highly secure and immutable.
⏯Scarcer gaming NFTs are highly sought-after in the NFT space. Therefore, players can reap exceptional monetary benefits with their gaming assets.
The gaming industry’s market cap is expected to reach a whopping $546 billion by 2028. Hence, NFT games will play a major role in the growth of the gaming industry in the upcoming years. Since NFTs have gained global significance, they will surely revolutionize how players consume games and in-game asset purchases. Sensing this promising market, many indie game investors and leading gaming companies like SEGA, Epic Games, and GameOn have started to venture into the Web3 gaming space. If you’re a game enthusiast looking for a rewarding business opportunity, then NFT gaming marketplace development can be a smart choice. If you’re having doubts about the development process, a professional NFT game marketplace development company can sort things out for you.