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How Can Blockchain-Based NFT Games Increase In Value Over Time? (1)


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Over the past years, video games have not only become one of the more popular mediums of entertainment by surpassing both the music and movies industries combined when it comes to revenue, but they have also grown in complexity. In the 1st part, let’s dive-in the economic side of added values.

Games like World Of Warcraft, EVE Online, and Second Life have economies so complex that they have been designed and studied by world-class economists. The combination of in-game assets, resources, and in-game currencies that online games have relied on, creates a lot of opportunities for economies that operate in a similar way to their counterparts in real life.

Now, blockchain technology is opening a world of new possibilities for virtual economies to flourish and translate their benefits to real life. Non-Fungible Tokens have proven to be especially intriguing for game developers and players alike due to the benefits they provide both parties.

Most gamers will be familiar with the frustration that comes from feeling your in-game assets are rented instead of owned. Maybe your beloved game is not profitable anymore and the servers are shut down, you broke a rule unintentionally and got your account banned, or just are done with the game and all that effort seems to be wasted. NFTs mean that you truly own your assets, allowing you to do whatever you want with those assets at any time.

1*XsLgkOJpQvrWfVNnumbztQ.jpegBlockchain technology is opening a world of new possibilities for virtual economies to flourish (source GamesBeat)

This benefit makes games like Sipher so attractive to the new generation of gamers as it essentially takes the complex economic systems that online games have created over the years, and gives them a twist to allow players to earn by playing. The result is the creation in which value is being co-created by both developers and players.

Just like other games, the economy of Sipher and other blockchain-based games makes use of concepts like “faucets” and “drains”, which allow their virtual worlds to grow in value. As players interact with the game to create content, the in-game economy will grow in a way that reflects that of “real” economies, making their assets grow in value at the same time.

While “Play-to-earn” games like Sipher have existed for a long time, these earnings are usually not the result of engaging and fun content but a grinding experience of sorts… And there is nothing gamers hate more than grinding. The reward (which is often pretty small in value) becomes the objective, which can ruin the experience of playing the game.

Sipher provides players with a dynamic, fun, and engaging virtual world in which both playing and earning go hand in hand, with both aspects resulting in a feedback loop that makes the player-owned real-money economy grow over time.

One of the features of the game that allows the economy to grow over time is the way in which Siphers are “sequenced” (the in-game term for created) by players. When a player wants to create these meta-digital beings that will operate as their NFT character, they are required to use in-game resources with real value like the $SIPHER and $ATHER tokens.

This use of cryptocurrency to generate the NFT characters imbues them with innate value, which in addition to the interaction of said character with the virtual world will allow it to gain unique characteristics, traits, and relevance to increase its value over time.

However, this value would not make sense in traditional games as characters would not be tradeable in most of them. Players would be forced to risk being banned if they choose to engage in account sharing or trade their characters via black markets. This is not the case in Sipher as the use of NFTs means the character is entirely owned by the player, allowing them to be traded, sold, borrowed, etc.

1*xipkoPqG_gj2nh8ug4YFlg.jpegSipher provides players with a dynamic, fun, and engaging virtual world in which both playing and earning go hand in hand

But selling your beloved in-game assets and your virtual companions is not the only way by which you can benefit from Siphers growing economy…Those players who decided to HODL their token will generate passive revenue by doing so, all while also contributing to the continued growth of the ecosystem.

In the metaverse of Sipheria, every single resource is tokenized using the ERC-721 standard to ensure true ownership by players and organic growth in value for the metaverse. However, there is one element of the gaming experience that can be tokenized directly: The story you create in the game.

Your Sipher’s story will depend on your decisions and unique approach to the game. While this will have a direct impact on all of the Sipher metaverse, it’s up to you to transfer these impacts to a financial advantage by making the best out of it.

Sure, the in-game economy and value of your assets will grow organically but it is your creativity and unique perspective that will allow you to maximize your earnings and fun! Sipher is not just a game, it is a universe you help create and benefit from in the process.

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How Can Blockchain-Based NFT Games Increase In Value Over Time? (1) was originally published in SIPHER on Medium, where people are continuing the conversation by highlighting and responding to this story.

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