Enter the Metaverse - The Beginners Guide to Virtual Worlds: NFT Games, Play-to-Earn, GameFi, and Blockchain Entertainment such as Axie Infinity, Decentraland, The Sandbox, Meta, Gala, Gods Unchained

By Chris Collins

Did you just find out about the Metaverse? Do you want to jump in on the craze as an artist, gamer, or musician? Are you finding it difficult to find all the information in the same place or just utterly confusing? If any of this is true, then read on to find detailed knowledge of the Metaverse and how they associate with cryptocurrencies and non-fungible tokens.

 

Enter the Metaverse - The Beginners Guide to Virtual Worlds offer comprehensive information regarding this recent profitable and budding trend. The guidebook talks about what the Metaverse is and provides a brief history of its emergence. After learning about the Metaverse and the different games and worlds associated with it, you will also find information regarding cryptocurrency tokens and NFTs. These are standards that tie together the digital collectibles system.

 

The inner workings of NFTs, along with their importance and value, are also covered in this detailed guidebook. Area of application and uses will deliver the knowledge of areas you can enter from in this digital trend. Moreover, the information in this book also lists down the top Metaverses and NFT play-to-earn games.

 

What will you learn in this book:

• What are NFT tokens
• How to play popular games of NFT
• Various nonfungible token games
• Aspects of the Axie Infinity game
• Tips for beginners when playing games
• How to earn income
• How Facebook has involved itself in the world of the Metaverse

 

AND MUCH MORE!!

 

The book is designed for novices which is why easy to understand, casual language is used. The idea is to bring some clarity to the blockchain procedure and this new kind of digital asset. 

• Language: English
• Publisher: Publishing Forte
• Release date: Mar 9, 2022
• ISBN: 9798201986988

Book preview

1

What Are Non Fungible Tokens

So before we help you get started with the actual play-to-earn NFT games, let's take a look in-depth at what non-fungible tokens are and how they arose. So for the purpose of helping you understand, let's assume that Mary is an aspiring professional painter who wants to sell her art in the form of an online exhibition, but she fears that due to scams and fraud, her artwork may get into the wrong hands.

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Due to this, her friend suggests that she tries selling all her artwork and buying non-fungible tokens as they are not only trustworthy but will also help her gain ownership rights. Since Mary has no idea what non-fungible tokens are and how they work, her friend explains it to her.

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Mary comes to find out that non-fungible tokens convert your digital assets into one-of-a-kind forms of unique online tokens that will help you create a digital signature. This form of signature can either be sold, bought, or used in the world of cryptocurrency as well as NFT. The benefit of non-fungible tokens is that Mary, being the owner of the artwork that she is, will be able to get an authentic right, so no third parties or frauds can steal her work.

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As non-fungible tokens are easily verified with the help of information located on each NFT, Mary does not have to worry about any forms of corruption or stealing. So overall, it can be concluded that non-fungible tokens are a form of secure and reliable assets which does not have a fixed value to them because external factors such as demand, popularity, and involvement of the public audience cause fluctuations in this price.

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This is the sole reason why many people around the world, particularly in third-world countries, have started to familiarize themselves and make use of these play-to-earn non-fungible token games.

Fungible vs. Non-Fungible tokens

When it comes to talking about fungible tokens, they are simply interchangeable forms of items or assets that have no owner behind them. In the case of fungible items, any asset that lies in this category can be divided and shared amongst secondary groups of holders. For instance, let's take a hundred dollar bill into account; this bill is a fungible form of the token as it can be divided into two fifty notes or four- twenty-five dollar bills and shared either equally or distributed according to ones liking.

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However, non-fungible tokens are non-interchangeable as these tokens are impossible to forge or simply make a copy of due to the ownership right of the person who owns them. In the case of Mary's story, her NFT tokens are sort of a legal contract that allows her to sell her artwork on online exhibitions without the fear of third parties stealing her work. This creates an opportunity for buyers to safely purchase her artwork without any fear and hesitation, and this, in turn, causes an increase in selling.

Non-Fungible Tokens in Games

A couple of years back, the term non-fungible token was most common for technical geeks who used it to increase purchasing assets of a certain network, but as video game marketing began developing new games with the help of the latest technology, these companies started getting familiar with the idea of non-fungible tokens and started to gain benefit from it as well as provide its tremendous benefits to the users who play these companies games.

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The sole purpose and working of the non-fungible token is to use blockchain technology to do four major things, which, if talked about in a nutshell, are simply activities that help prevent forgery and help a user who owns a certain asset in the game to not have it stolen or corrupted by any other user, even the developer of that asset.

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Once you have invested money into buying the asset of a particular game, you are technically an owner of that asset, and everyone in that game can see your ownership of it. Non-fungible tokens in the form of game assets are highly reliable as they are decentralized, which, as I have mentioned, means that users around the world can see the ownership rights on a particular asset, preventing it from being stolen.

Non-Fungible Token Workings

So, like I have mentioned that NFT tokens are decentralized and can be seen by any user on the gaming platform; another reason why these tokens are highly secured and reliable are because they can prove ownership.

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Earlier in 2021, the world of NFT artwork took everyone by storm as experienced artists and business owners bought and sold artwork in the form of NFT, which helped them make tons of money. This caused game developers to follow and jump on the bandwagon.

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The use of blockchain technology with non-fungible tokens has three main attributes besides decentralizing, as blockchain is essentially a database that records who owns what and the history of who owned what asset. For instance, if a user owns a non-fungible token in the form of a battle sword in a particular game, the ownership of this sword will be tracked on the blockchain, and the user who owns the sword will always own it until he/ she decides to trade or sell it to a secondary owner.

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Another striking feature of NFT is that even if the game itself has been shut down and no longer works, the NFT asset that was bought will still remain with the user who owns it, and they can use it to trade or sell it.

Provable Scarcity

Besides decentralization and ownership, Non-fungible tokens that come in the form of certain gaming assets are created in a definitive quantity. The information of that asset that was bought is stored in a secure blockchain database. For instance, let's assume that as the game developer made a hundred non-fungible token sword assets, there will only be a hundred NFTs throughout the entirety of the game.

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The game developer cannot just simply increase or decrease the number of the NFT asset, which ultimately adds to its value. Various users who have invested money onto that asset will not only be able to have ownership of it forever but will also have the ability to sell or trade with another NFT asset owner, thus generating the flow of money. Although this is an option, the majority of the users choose not to sell or trade their Non-fungible tokens but would rather earn money through that asset and, in the end, sell it to earn back the money invested in the token.

Unchanging Editable

Another great aspect of Non-fungible tokens in the form of certain game assets is that they are immutable. Which in simple words, means that if a certain asset was originally and primarily created in a certain shape or color, no one can have access to changing the external looks of the assets in the hopes of stealing or corrupting it.

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For instance, if there is a gold axe that is a non-fungible token asset, that gold axe will always remain with that color, and no one, the user or the game developer, can go in and change it to silver or any other color. The reason why this is important is to ensure that its authenticity and uniqueness remain and so it does not get stolen.

Traditional and Play-to-Earn games

So you might be wondering what does non-fungible token mean in gaming and why it is such a huge thing around game developers and users around the world. So, for now, let's focus on the traditional games out