Virtual reality marketplace based games are computer-simulated worlds where the users can relate with each other, similar to the real world. The users are represented in the form of avatars, can interact with other users, build houses, play games and collect arts in the form of NFTs. Virtual reality and digital games are very similar and they often go hand in hand. These gaming platforms are in existence for more than two decades, with gamers spending millions annually, for acquiring weapons and items for their adventures.
Decentraland NFT marketplace is the prime example of virtual reality marketplace games. It has become an NFT sensation in the crypto space where the users can play and enjoy games and earn NFTs. Owning a virtual reality marketplace is a huge revenue generator and you can be a part of this high-level revenue-generating platform by availing of our NFT marketplace services.
Decentraland is a virtual world game that is constructed on the Ethereum blockchain. The players can create their own avatars, monetize applications and contents. The real-estate contents in decentraland are permanently owned by the community, providing the users full governance over the creations. Ownerships of the lands are claimed by the users on a blockchain-based ledger of parcels.
In decentraland, the non-fungible tokens are represented as LAND. Decentraland charges the user with a commission when a trade is initiated, a percentage of the sale amount in the relevant trade is deducted and since it functions on Ethereum, users would have to pay gas fees for transactions through the game. Decentraland is a combination of both; a VR based game and an NFT marketplace.
Non-fungible Tokens are known as NFT, they are unique digital assets that cannot be interchanged since they hold a certain unique value for each token. In order to initiate the transaction process for NFTs, a special platform is required. It is called the NFT marketplace. Buying and selling of NFTs take place on this platform. It charges a gas fee for every transaction that takes place and the gas fees are paid in any form.
Higher liquidity is achieved when the NFTs are traded instantly. NFTs can be kept as collateral for liquid cash to obtain instant cash. Expansion of the market for unique digital assets is possible in NFTs.
NFT standards like ERC 721 and ERC 1155 Tokens allow interaction with multiple platforms. When a new project is launched on the platform, it becomes visible and enables the users to trade NFTs in the marketplace.
The contribution of NFTs to the public blockchain allows the developers to develop common, inheritable and reusable standards that are relevant to all NFTs. This enables the standardization of collectibles represented in the form of NFT to display in the marketplace.
The interoperability function in the NFT allows trading NFTs in multiple environments and marketplaces. This functionality allows the NFT token holders to initiate trading capabilities, bunding, bidding and the ability to sell in markets.
In a traditional game, the purchases are one-time and the investments cannot be transferred as it remains locked in a single gaming ecosystem. But in an NFT based virtual game marketplace, using NFTs grants users the ownership of their in-game purchases. Through blockchain technology, users can save in-game purchased contents and sell them to other users.
When a conventional game shuts down immediately, all the saved data stored in the game gets deleted, whereas, in NFT marketplaces like decentraland, the data is saved in the blockchain network as they function independently and in a blockchain based-marketplace game, the assets cannot be replicated, destroyed or tampered with because of the permanent record of each NFTs generate issuance.
Traditional online games only function on centralized platforms, whereas NFT marketplaces like decentraland functions on independent blockchains that operate as a backend framework for interconnected games. The assets presented in the virtual game can be developed to be interoperable across multiple ecosystems.
The players who collect in-game collectibles value rarity and authenticity, and the scarcity of in-game purchases is capable of accessing immutable records embedded in the NFT’s blockchain network.
We at Blockchain App Factory provide one of the best NFT marketplace creation services in the globe. We specialize in creating NFT games similar to the world-acclaimed Decentraland. We provide flexible customization to the game depending on the client’s specific needs. We integrate high-end graphics and AR/VR systems into your game for a transcendent user experience. Your NFT marketplace based game is created with great visualization from our development team and we deploy your finished product into the digital market at ease.
