Interoperable NFTs will turn blockchain gaming upside down

Gaming is proving to be one of Web3's most promising and dynamic frontiers. As with NFT art projects before them, blockchain gaming projects are springing up everywhere you look. One concept looking increasingly crucial to the appeal of blockchain gaming is NFT interoperability. So how might interoperable NFTs work in games? 

Recently, we featured Greg Gould, COO of Dexioprotocol, on our Venly Expert Talks podcast. With several games incorporating blockchain technology already released and others in development, Dexioprotocol is proving itself a leader in the blockchain gaming space. 

“In Western countries, twelve to thirteen percent [of the population] have bought crypto in the last twelve months,” Gould explains on the podcast.” By contrast, “seventy-five percent of US households contain at least one self-identified gamer.” How to bring this enormous audience into the world of Web3 remains a pressing question.

“We have a challenge in front of us,” says Gould. “The extreme majority of traditional gamers are skeptical, if not outright hostile towards NFT gaming. And for good reason. Most NFT gaming is garbage.”

Play 2 Burn

The reasons for that are varied and, in some ways, comparable to the reasons why many NFT projects fail. “You don’t make a game fun by shoving crypto into it,” Gould declares. Games that serve purely as a vehicle for boosting the value of a token or generating ongoing revenue for a NFT project aren’t going to engage those looking for high-quality experiences.

It’s a trap that blockchain gaming projects utilizing a Play2Earn (P2E) model risk falling into. Players are enticed into a project with the promise of rewards. But, at some point, perhaps having already managed to acquire the easier rewards, they tire of low-quality gameplay and abandon the project. More new players are required to sustain the business model, leading to what Gould describes as a ‘faucet effect’ of rapid player turnover. 

Traditional gamers want value beyond financial reward. They want engaging experiences, with satisfying gameplay and the opportunity to express their virtual identities in interesting ways. It’s here that NFT interoperability could play a decisive role. 

Interoperable NFTs

In the context of blockchain gaming, NFT interoperability refers to the potential for a single NFT to be transferred between different games, expressing its attributes in different ways as per the developers’ design. 

You may have earned a token in a fantasy RPG that bestowed upon you an enchanted weapon. That same token might then be able to be transferred into a totally different game with a different manifestation, say, as a laser-rifle in a sci-fi shooter. Venly’s own MetaRing NFT offers distinct perks and benefits to wearers across an ever expanding list of Web3 projects, including The Sandbox and Vulcan Forged’s full suite of games.

Interoperable NFTs require various developers to design them into their games accordingly but, if executed properly, they have the potential to introduce a whole new dimension of value into the world of gaming - the intergenerational dimension. No longer will a player's achievements in one game become obsolete with the release of its sequel. Players will be able to retain the power, status, or identity they have cultivated in one universe as they move into the next. Their unique NFTs could acquire and change traits as they play through different games, deepening the personalization of their experiences in a way not possible with traditional gaming. 

Combined with solid gameplay that doesn’t just serve as a vehicle for financial reward, interoperable NFTs could propel blockchain gaming to the forefront of the wider gaming industry. “This is a way for people to be able to breathe life back into their digital assets,” explains Gould. “The ownership of those digital creations is going to change the whole game.”

You can check out the full conversation with Greg Gould on the Venly Expert Talks podcast.

Get your hands on your own MetaRing on our very own Venly Market.

All of Dexioprotocol’s games can be found on their website.