There are a number of reasons why NFTs and online video games are a match made in heaven.
For example, in virtually all previous iterations of digital gaming clubs, items purchased could only be utilized in that video game via a certain profile. All of the money invested would vanish if a player's account was stolen, or deleted, or if the user just became bored and switched to another game; it is a harsh reality that most players have come to accept. This strategy lasted since there were no viable alternatives until NFTs emerged and changed everything.
The concept of investing genuine, hard-earned money in the online gaming world is not new. Players have been paying in-game money for access to new weaponry, avatars, maps, and other goods for a long time. These outlays are frequently seen as pleasurable gaming rewards that allow gamers to tailor their gaming experiences through the goods they purchase. On the other hand, the growing popularity of NFTs in the online gaming industry might represent a completely different phenomenon.
The growing understanding and acceptance of NFTs are fueling a surge in global demand for them. High-profile artists, performers, corporate executives, and others have recently benefited from the trend. Furthermore, because of the extensive effects of the COVID-19 pandemic, an increasing number of new people and organizations are turning to online gaming. To put it another way, a growing number of consumers like online gaming as well as decentralized resources.
Furthermore, blockchain technology is more varied and adaptable now than it was only a few years ago, so there is less of a possibility that something like CryptoKitties would cripple the Ethereum system, regardless of increased usage. When we put it all together, we have the perfect stimulus for the mass adoption of NFT video games. Furthermore, we are already seeing benefits. Special efforts from a range of companies are springing up all around the world.
As awareness of digital art grows, premium fashion giants Burberry and Louis Vuitton are resorting to NFTs and games to advertise their businesses. Burberry revealed in an announcement on Wednesday that it would release an NFT gaming avatar dubbed "Sharky B" for Mythical Games' multiplayer online game "Blankos Block Party." On August 11, the limited-edition character, which is emblazoned with Burberry's "TB" emblem, will be accessible for purchase in the game.
Burberry's senior advertising executive, Rod Manley, stated, "Pushing limits via innovation lies at the core of what we achieve at Burberry, and we are constantly trying to engage with our audiences in the places they adore."
Meanwhile, Louis Vuitton introduced a smartphone video game in which users can earn 30 complimentary NFTs by following the brand's symbol Vivienne around Paris. NFTs by Beeple, the digital artist whose artwork was acquired for more than $69 million at an auction in March, is included in "Louis: The Game." To impart sparkle to their businesses, the fashion world has been attempting to capitalize on the hype around NFTs and their rising appeal.
In April, Gucci and many other fashion houses told Vogue Business that they were considering creating their own NFTs. Burberry and Louis Vuitton are embracing digital fashion startups like The Fabricant, which sold an NFT for a digital outfit called the Iridescence Dress in 2019. It sold for about 10,000 USD at a time when the NFT marketplace was just getting started.