The first Web 3.0 application with gaming, networking, and entertainment features, STEPN, recently received $5.0 million in seed funding from renowned venture capitalists. In October 2021, $8.3 million was invested in Genopets, a non-fungible token (NFT) “move to earn” gaming platform with a Solana, California, base where players are credited for real-world actions.
NFT Gaming is the newest innovation in the Blockchain industry that has plenty of room for new entrants. NFT game development services are now able to investigate creative and useful ways to spend the crypto space.
You have come to the right place if you are looking for information on how to develop an extremely sophisticated and market-disrupting NFT gaming venture. Simply continue reading this page to learn everything there is to know about STEPN.
The Prevalence of NFT Gaming is Rising
With new apps regularly showing up on app stores, the NFT craze is still in its infancy. STEPN (GMT), which has amassed a sizeable fan base and a prominent position among the top 50 digital currencies, is one of the most notable initiatives. A number of fresh gaming options with various models based on geolocation-enabled running, sprinting, or riding are also in the works.
STEPN is similar to well-known Play-to-Earn (P2E) games, where players engage in physical activity and earn rewards or money as a result.
With numerous fashion houses releasing attractive sneakers with cryptography-based asset management, the sneaker category has not been left behind in the growing popularity of holding digital assets.
NFT Sneakers: What Exactly Are They? Simply defined, they are digital representations of real or imaginative depictions of footwear.
Users who are wearing NFT Sneakers venture outside to collect tokens and NFT rewards. ASICS, a well-known manufacturer of sports shoes, has partnered with STEPN to launch this NFT line.
The following factors contributed to the quick rise in popularity and success of NFT Gaming platforms:
Venture capitalists are placing a lot of money on initiatives for NFT gaming:
Smart companies and venture fund managers keep up with current events, and given the recent investments made in NFT gaming ventures, it is clear that the massive influx of funds into a game initiative foresees the impending development of the nft gaming model.
Additionally, it is anticipated that consumer-focused NFT games will start to appear in 2022, each of which will promote its own distinctive sales propositions to monetize the intersection of Decentralized applications and fitness activities.
Users want to improve their fitness in the wake of the pandemic:
With the end of pandemic lockdowns and the onset of sunny days, users started to leave the house to stay active and healthy. They had learned that physical activity and fitness could increase immunity.
A platform that combines a healthy regimen, residual income, rare items, and smartphone games with 5G connectivity in a lively manner is undoubtedly a ground-breaking business concept when combined with a desire to socialize and learn about the new digital era products. Technocrats have a great chance to connect a healthy lifestyle with earning money for each step they take.
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Despite the fact that current games serve as inspiration for NFT game platforms, demand for move-to-earn NFT and play-to-earn gameplay solutions is anticipated to soar. The play-to-earn gaming model has undergone a transformation phase, and the cryptocurrency community is now enthusiastic about a new Play-to-Earn phase.
This is due to the low entry barrier that users must overcome in order to use the platform. People who already lead active lives can join the platform to take advantage of the earning potential that was previously inaccessible. There will also be those new users who will join in addition to this.
In contrast to traditional arcade games, which require practise, dedication, and focus to master, move-to-earn Gaming involves movement.
Introduction of Auxiliary Devices like Fitness Watches:
Those who have used activity tracking software and gadgets like the Apple Watch or the Samsung Galaxy Watch are aware of how compulsive their gamified features can be. For those who want to earn rewards and continue learning about how to raise the value or quantity of such rewards, this presents an incredible opportunity.
Live jogging updates posted on social media have accomplished something admirable: they increase our sense of accomplishment and encourage us to push both ourselves and other people to greater heights. The amazing thing is that there isn’t any other motivation to justify this effort besides improved physical wellbeing. A monetary incentive, however, can make it advantageous for all users.
This might be the NFT market that venture capital fund managers are searching for.
The bigger bets on the metaverse haven’t been placed yet, despite the exponential growth of coins like Axie Infinity’s $AXS in the last year. This offers sufficient funding opportunities, many of which are low-hanging fruit for the gaming models.
Due to their lack of understanding of how to ride the NFT bandwagon or simple unwillingness to deal with the hassle of having to delve deeply into the NFT culture in order to predict the greatest ROI games, many venture capitalists also missed out on the incredible returns of the recent NFT fever.
Fortunately for these people, NFT programmes might be the solution. Many games include utility and governance tokens. In this case, move to earn tokens, which can be purchased on platforms and increased in value as the intrinsic value and reputation of the console increase. These tokens operate similarly to NFTs, which may be exchanged normally.
Now that we are clear on the fundamental idea and commercial potential underlying the decision to create an NFT gaming platform let’s investigate the attributes of such a service. For young business people looking to create an engaging NFT gaming platform that will draw in a large user base, this list of capabilities or functions can really turn into the secret to their success.
Key Characteristics of NFT gaming solution
A user should be able to set their regular movement or fitness activity levels using the platform’s goal-setting features. The main benefit of this feature is that users will constantly strive to do more each day by setting higher standards for their physical activity. Users will be inspired to increase their overall activity levels as a result.
Syncing with a fitness watch:
Smartwatches and fitness trackers with 5G connectivity are popular for people who like to keep track of their exercise goals while they are on the go. The use of a smartwatch extension or application could increase the gaming app’s popularity and acceptance among people who want these additional technological advancements.
The application needs to support live GPS tracking in order to track motion and activities instantly.
A user’s profile
On the NFT gaming application, a user should be able to create his or her own profile. It should be possible to include both users’ actual photos and those of their favourite video game characters in this profile description. In order for website visitors to identify with the character or avatar, the user can define it as a short word on his profile.
Each user should have access to a dashboard that shows historical data as well as daily progress toward goals and accomplishments.
Integration of a marketplace:
An NFT marketplace extension or integration is required for the NFT game. A user must be permitted access to their preferred NFT marketplaces using multi-factor authentication in order to trade their NFTs. Collaboration with various NFT trading platforms may be required for this.
The user experience and user interface of the game must be flawless. Enterprises can get help from UI/UX design experts to create a seamless design.
Social Media Integration
The user must be able to post about special occasions and accomplishments on social media. Social media plays a significant role in promoting your NFTs. It is important to enabling access and sharing on well-known social media platforms so that users can easily promote their in-game assets there.
Cryptopreneurs must develop a solution that is scalable in the future due to the constantly evolving NFT space. Blockchain technology offers solutions that cannot be changed. But scalability can be attained while considering the potential for future expansion.
The most crucial element in determining the success of any NFT initiative is security. Because of this, NFT development services are crucial to the development, testing, and implementation of the solution. The NFT industry involves a lot of money, and players don’t want to risk losing their winnings and income to outside threats. Smart contracts play a role in this situation. Only a highly qualified Blockchain and NFT development service provider can provide your move to acquire NFT gaming solutions with full-proof safety and security.
NFTs have an additional level of usability thanks to move-to-earn. Inside the applications, athletes, coaches, and other bonuses can be purchased and exchanged for fiat money. The system would function properly if users could upgrade and fix the NFT and earn badges at the same time.
RisingMax Inc. offers top-notch NFT and Web3 game development services to support your ascent to the top. Count on our experience and knowledge to shorten your time to market and give you a crucial competitive advantage.