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Virtual reality in the gaming industry enhances the user experience to make it more real for gamers. The gamers can play the games just like in the reality by interacting in the games with other players, fighting, moving, and do other activities. Virtual reality and digital games have a negligible difference from each other. It has been evaluated that the users of the gaming industry spend enormous money to purchase weapons, dresses, vehicles, and much more to make their gaming experience more interesting.
One of the examples of virtual reality marketplace games is the Decentraland NFT marketplace. Numerous individuals are playing on this platform to earn rewards in form of NFTs. Such a platform that is currently one of the most attractive platforms in the crypto world can become a massive revenue generator for a person that launches a similar Marketplace.
Decentraland is a platform that offers an opportunity to the masses to play games and earn rewards as NFTs. The platform build on the Ethereum Blockchain offers the users to create their avatars and tokenize the content. The users can buy and sell lands, Avatars, and Estates on this platform.
An NFT in the Decentraland is the LAND. The platform charges money from the users when there is a successful sale of the NFT. A decided percentage of the amount will be paid as service charges to Decentraland. Also, the users will have to pay the gas fees for the transaction is done on the Ethereum blockchain.
Non-fungible tokens are digital assets that are non-exchangeable due to the unique value they possess for each NFT. Although NFTs can be traded on several exchange platforms, the most common platform to trade, buy and sell the NFTs is the NFT marketplace. These platforms mostly use the Ethereum blockchain. Therefore, there is a cost called gas fees for every transaction on the platform.
There is a possibility of interaction of the users to several other platforms. After submitting a new project, you can get the attention of people who want to exchange NFTs in the market.
While the NFTs are traded immediately, the liquidity gets increased. To receive instant cash, NFTs are stored as collaterals for liquid cash.
With the popularity and growth of NFTs, public blockchains are improving because developers can create old and reusable standards.
Due to the interoperability property of the NFTs, trading can be done on several platforms or marketplaces. The Sellers or the owners of the NFTs can start trading, bidding, and selling of the token in the marketplaces.
In regular games when a user makes a transaction for the payment, it cannot be exchanged or transferred as it is locked. However, this is not true for the NFT virtual gaming marketplace as the users get the ownership for the in-game purchases. In such platforms, the users can own the purchases and even sell them to others.
While using an NFT marketplace, the loss of data is not possible because it is in a decentralized environment and all the data is saved in the blockchain network. It is a privilege over the traditional games where the data is lost whenever there is a failure or shut down of that game.
The traditional games are centralized, unlike the NFT Marketplaces gaming platforms. They have been built using blockchain technology that gives additional features such as using the assets of a game on multiple platforms. Thus, the interoperable property is achieved.
Scarcity is one of the most essential features of NFTs. The rare and unique nature of the NFTs is achieved by restricting the creation of NFTs on the platform. The platforms are developed in such a way to achieve this property of NFTs.
The developers at Zeligz web store are experts in developing a range of NFT Marketplaces. We have developed platforms similar to Decentraland for our clients with additional features and alternations in the platform. The high-quality graphics, as well as the AR/VR systems, provides the users a real-life experience. The creative and engaging designs help gain immense traffic to the platform. We develop the platform by considering the post-development marketing strategies in mind that will show our clients the path to success.