Nonfungible tokens (NFT) have arguably transitioned from being an obscure part of the crypto and blockchain space to occupy greater significance within popular culture. Indeed, as cryptocurrencies and decentralization appear to permeate the conversation across social, political and economic lines, the apparent hype surrounding NFTs seems to be incentivizing greater adoption of digital currencies.
Within the NFT space itself, gaming has often been cited as a possible use case for the commercialization of digital collectibles. Now, within the ambit of play-to-earn NFTs, there appears to be a growing coincidence of gaming, blockchain and the virtual economy.
Inside this confluence point, projects such as Axie Infinity have been enjoying significant growth by combining the satisfaction gamers enjoy from playing games with the opportunity to earn monetary rewards in the form of cryptocurrencies. With this popularity comes an increase in token valuation for these NFT games, which in turn drives even more patronage.